S. 4116 — Considered and Passed (Senate)

II 116th CONGRESS 2d Session S. 4116 IN THE SENATE OF THE UNITED STATES June 30, 2020Mr. Cardin (for himself, Mr. Schumer, Mrs. Shaheen, Mr. Coons, Ms. Rosen, and Ms. Collins) introduced the following bill; which was read twice, considered, read the third time, and passed A BILL To extend the authority for commitments for the paycheck protection program and separate amounts authorized for other loans under section 7(a) of the Small Business Act, and for other purposes. 1. Extending authority for commitments for the paycheck protection program and separating amounts authorized for other 7(a) loans Section 1102(b) of title I of division A of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) is amended to read as follows: (b) Commitments for PPP and other 7(a) loans (1) PPP loans During the period beginning on February 15, 2020 and ending on August 8, 2020, the amount authorized for commitments under paragraph (36) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)) shall be $659,000,000,000. (2) Other 7(a) loans During fiscal year 2020, the amount authorized for commitments for section 7(a) of the Small Business Act (15 U.S.C. 636(a)) under the heading Business loans program account under the heading Small business administration under title V of the Consolidated Appropriations Act, 2020 (Public Law 116– 93; 133 Stat. 2475) shall apply with respect to any commitments under such section 7(a) other than under paragraph (36) of such section 7(a). .