S.Amdt. 1403
What it does: Adds SEC. __. PARTNERSHIP PAYCHECK PROTECTION PROGRAM LOAN CALCULATION AS FARMER OR RANCHER wherever appropriate
Sen. Roger Marshall (R-KS)What it changes
1 change to H.R. 1799
Adds SEC. __. PARTNERSHIP PAYCHECK PROTECTION PROGRAM LOAN CALCULATION AS FARMER OR RANCHER wherever appropriate
Adds a sectionInserted: SEC. __. PARTNERSHIP PAYCHECK PROTECTION PROGRAM LOAN CALCULATION AS FARMER OR RANCHER.
Inserted: (a) In General.--Section 7(a)(36)(V)(i)(I) of the Small Business Act (15 U.S.C. 636(a)(36)(V)(i)(I)) is amended by inserting "is a partnership," after "independent contractor,".
Inserted: (b) Effective Date; Applicability.--
Inserted: (1) In general.--Except as provided in paragraph (2), the amendment made by subsection (a) shall be effective as if included in the CARES Act (Public Law 116-136; 134 Stat. 281) and shall apply to any loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) before, on, or after the date of enactment of this Act, including forgiveness of such a loan.
Inserted: (2) Exclusion of loans already forgiven.--The amendments made by subsection (a) shall not apply to a loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) for which the borrower received forgiveness before the date of enactment of this Act under section 1106 of the CARES Act (15 U.S.C. 9005).
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Original wording
At the appropriate place, insert the following:
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As printed
SA 1403. Mr. MARSHALL (for himself and Ms. Ernst) submitted an amendment intended to be proposed by him to the bill H.R. 1799, to amend the Small Business Act and the CARES Act to extend the covered period for the paycheck protection program, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. PARTNERSHIP PAYCHECK PROTECTION PROGRAM LOAN CALCULATION AS FARMER OR RANCHER.
(a) In General.--Section 7(a)(36)(V)(i)(I) of the Small Business Act (15 U.S.C. 636(a)(36)(V)(i)(I)) is amended by inserting “is a partnership,” after “independent contractor,”.
(b) Effective Date; Applicability.--
(1) In general.--Except as provided in paragraph (2), the amendment made by subsection (a) shall be effective as if included in the CARES Act (Public Law 116-136; 134 Stat. 281) and shall apply to any loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) before, on, or after the date of enactment of this Act, including forgiveness of such a loan.
(2) Exclusion of loans already forgiven.--The amendments made by subsection (a) shall not apply to a loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) for which the borrower received forgiveness before the date of enactment of this Act under section 1106 of the CARES Act (15 U.S.C. 9005).
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Senate amendment submitted
March 24, 2021