S. 5009 — Introduced in Senate

II 116th CONGRESS 2d Session S. 5009 IN THE SENATE OF THE UNITED STATES December 10, 2020Mr. Moran introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to address the eligibility for certain small businesses and organizations to receive loans under the Paycheck Protection Program. 1. Short title This Act may be cited as the Supporting More Nonprofits Through the PPP Act of 2020. 2. Paycheck protection program Section 7(a)(36)(D) of the Small Business Act (15 U.S.C. 636(a)(36)(D)) is amended by striking clause (i) and inserting the following: (i) In general During the covered period, in addition to small business concerns, any business concern, nonprofit organization, veterans organization, or Tribal business concern described in section 31(b)(2)(C) shall be eligible to receive a covered loan if the business concern, nonprofit organization, veterans organization, or Tribal business concern— (I) employs not more than the greater of— (aa) 500 employees; or (bb) if applicable, the size standard in number of employees established by the Administration for the industry in which the business concern, nonprofit organization, veterans organization, or Tribal business concern operates; or (II) is as described in clauses (i) and (ii) of section 3(a)(5)(B). .