,,ii  #aafth ,,congress  #b;d ,session  
,s4 #chei  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #a1      
#bjbj,mrs4 ,loeffler introduced the     
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to extend the covered period
 for the paycheck protection program1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,paycheck ,protection ,program          
,timeframe ,modification and ,extension 
,act or the ,,ppp ,,time ,act4  #b4     
,amendments to the paycheck protection  
program and loan forgiveness  7a7       
,extension of covered period for        
paycheck protection program ,section    
#g7;a77#cf77;,a77iii7 of the ,small     
,business ,act 7#ae ,u4,s4,c4           
#fcf7;a77#cf77;,a77iii77 is amended by  
striking ,june #cj1 #bjbj and inserting 
,august #ae1 #bjbj4  7b7 ,loan          
forgiveness ,section #aajf of the       
,,cares ,act 7,public ,law #aaf-acf7 is 
amended-- 7#a7 in subsection 7a77#c71 by

 striking the #h-week period and        
inserting any #h-week period1 as        
selected by an eligible recipient1      
occurring during the #bd-week period2   
and  7#b7 in subsection 7d7-- 7,a7 in   
paragraph 7#e77;,b71 by striking ,june  
#cj1 #bjbj each place that term appears 
and inserting ,august #ae1 #bjbj2  7,b7 
by redesignating paragraph 7#f7 as      
paragraph 7#g72 and  7,c7 by inserting  
after paragraph 7#e7 the following3     
7#f7 ,amount of payroll costs ,for      
purposes of determining eligibility for 
and the amount of loan forgiveness under
 this section1 the ,administrator may   
not require an eligible recipient to use
 more than #ej percent of the proceeds  
of a covered loan for payroll costs4  4 
7c7 ,application ,the amendments made by
 this section shall apply to loans made 
under section #g7;a77#cf7 of the ,small 
,business ,act 7#ae ,u4,s4,c4           
#fcf7;a77#cf77 before1 on1 or after the 
date of enactment of this ,act4  #c4    
,delay of payment of employer payroll   

taxes  7a7 ,in general ,section         
#bcjb7;a7 of the ,,cares ,act 7,public  
,law #aaf-acf7 is amended by striking   
paragraph 7#c74  7b7 ,effective date    
,the amendment made by subsection 7a7   
shall be effective as if included in the
 ,,cares ,act 7,public ,law #aaf-acf7   
and shall apply to any loan made        
pursuant to section #g7;a77#cf7 of the  
,small ,business ,act 7#ae ,u4,s4,c4    
#fcf7;a77#cf77 or section #aaji of the  
,,cares ,act 7,public ,law #aaf-acf74