,,ii  #aafth ,,congress  #b;d ,session  
,s4 #chfe  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #b1      
#bjbj,mr4 ,portman 7for himself1 ,mr4   
,cardin1 ,mr4 ,lankford1 and ,mr4       
,booker7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,small ,business and     
,entrepreneurship  ,a ,,bill  ,to       
provide for the treatment of certain    
criminal violations under the paycheck  
protection program1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,paycheck           
,protection ,program ,second ,chance    
,act4  #b4 ,treatment of certain        
criminal violations under the paycheck  
protection program  7a7 ,in general     
,section #g7;a77#cf7 of the ,small      
,business ,act 7#ae ,u4,s4,c4           
#fcf7;a77#cf77 is amended by adding at  
the end the following3  7,t7 ,treatment 
of certain criminal violations  7i7     
,arrests or convictions ,except as      
provided in clause 7ii71 an entity that 

is a business1 organization1            
cooperative1 or enterprise shall be an  
eligible recipient notwithstanding an   
arrest or conviction under ,federal1    
,state1 or ,tribal law of an owner of   
not less than #bj percent of the equity 
of the entity1 unless the owner is      
incarcerated on the date on which the   
entity applies for a covered loan4  7ii7
 ,financial fraud or deception          
,notwithstanding clause 7i71 an entity  
that is a business1 organization1       
cooperative1 or enterprise may not      
receive a covered loan if1 during the   
#e-year period preceding the date on    
which the entity applies for a covered  
loan1 an owner of not less than #bj     
percent of the equity of the entity has 
been convicted of a felony of financial 
fraud or deception under ,federal1      
,state1 or ,tribal law4  7iii7 ,waiver  
,the ,administrator may waive the       
requirements under clause 7ii74  4  7b7 
,rulemaking ,not later than #ae days    
after the date of enactment of this     

,act1 the ,administrator of the ,small  
,business ,administration shall make    
necessary revisions to any rules of the 
,administration to carry out the        
amendment made by subsection 7a74