,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ciah  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #i1      
#bjbj,mr4 ,thune 7for himself and ,ms4  
,baldwin7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,small ,business and  
,entrepreneurship  ,a ,,bill  ,to modify
 the calculation of the maximum loan    
amount for certain farmers and ranchers 
under the paycheck protection program of
 the ,small ,business ,administration1  
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,paycheck ,protection for ,producers    
,act4  #b4 ,calculation of maximum loan 
amount for farmers and ranchers 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-- 7#a7 in     
subparagraph 7,e71 in the matter        
preceding clause 7i71 by striking       
,during and inserting ,except as        
provided in subparagraph 7,t71 during2  

and  7#b7 by adding at the end the      
following3  7,t7 ,calculation of maximum
 loan amount for farmers and ranchers   
7i7 ,definition ,in this subparagraph1  
the term covered recipient means an     
eligible recipient that-- 7,i7 operates 
as a sole proprietorship or as an       
independent contractor1 or is an        
eligible self-employed individual2      
7,,ii7 reports farm income or expenses  
on a ,schedule ,f 7or any equivalent    
successor schedule72 and  7,,iii7 was in
 business during the period beginning on
 ,february #ae1 #bjai1 and ending on    
,june #cj1 #bjai4  7ii7 ,no employees   
,with respect to covered recipient      
without employees1 the maximum covered  
loan amount shall be the lesser of--    
7,i7 the sum of-- 7aa7 the product      
obtained by multiplying-- 7,,aa7 the    
gross income of the covered recipient in
 #bjai1 as reported on a ,schedule ,f   
7or any equivalent successor schedule71 
that is not more than #ajj1jjj1 divided 
by #ab2 and 7,,bb7 #b4e2 and  7bb7 the  

outstanding amount of a loan under      
subsection 7b77#b7 that was made during 
the period beginning on ,january #ca1   
#bjbj1 and ending on ,april #c1 #bjbj1  
that the borrower intends to refinance  
under the covered loan1 not including   
any amount of any advance under the loan
 that is not required to be repaid2 or  
7,,ii7 #aj1jjj1jjj4  7iii7 ,with        
employees ,with respect to a covered    
recipient with employees1 the maximum   
covered loan amount shall be calculated 
using the formula described in          
subparagraph 7,e71 except that the gross
 income of the covered recipient        
described in clause 7ii77,i77aa77,,aa7  
of this subparagraph1 as divided by #ab1
 shall be added to the sum calculated   
under subparagraph 7,e77i77,i74  7iv7   
,recalculation ,a lender that made a    
covered loan to a covered recipient     
before the date of enactment of this    
subparagraph may1 at the request of the 
covered recipient-- 7,i7 recalculate the
 maximum loan amount applicable to that 

covered loan based on the formula       
described in clause 7ii7 or 7iii71 as   
applicable1 if doing so would result in 
a larger covered loan amount2 and       
7,,ii7 provide the covered recipient    
with additional covered loan amounts    
based on that recalculation4  4