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House Bill 6981
116th Congress(2019-2020)
PPP DEAL Act
Introduced
Introduced
Introduced in House on May 22, 2020
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Introduced in House 
May 22, 2020
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Introduced in House(May 22, 2020)
May 22, 2020
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H. R. 6981 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 6981


To extend the covered period for loan forgiveness and the rehiring period under the CARES Act, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 22, 2020

Mr. Lamb (for himself, Mrs. Fletcher, and Mr. Fitzpatrick) introduced the following bill; which was referred to the Committee on Small Business

A BILL

To extend the covered period for loan forgiveness and the rehiring period under the CARES Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “PPP Deadline Extension Adjustment for Loans Act” or the “PPP DEAL Act”.

SEC. 2. Extension of loan forgiveness period and rehiring period under CARES Act.

Section 1106 of the CARES Act (Public Law 116–136) is amended—

(1) in subsection (a)(3), by striking “8-week” and inserting “16-week”; and

(2) in subsection (d)(5)(B), by striking “June 30, 2020” each place that term appears and inserting “the date that is 16 weeks after the date of the origination of the covered loan”.