,,ii  #aagth ,,congress  #ast ,session  
,s4 #abcb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,april #bj1    
#bjba,ms4 ,baldwin introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,small   
,business and ,entrepreneurship  ,a     
,,bill  ,to modify the maximum paycheck 
protection program loan amount for      
farmers and ranchers1 sole proprietors1 
independent contractors1 and            
self-employed individuals4  #a4         
,calculation of maximum ,,ppp loan      
amount  7a7 ,in general ,section        
#g7;a77#cf77,v7 of the ,small ,business 
,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77,v77  
is amended-- 7#a7 by striking clause 7i7
 and inserting the following3  7i7      
,definition ,in this subparagraph1 the  
term covered recipient means an eligible
 recipient that-- 7,i7 7aa7 operates as 
a sole proprietorship1 as an independent
 contractor1 or as a partnership with   
gross farming income from               
self-employment2 or  7bb7 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 as of ,february #ae1 #bjbj4  2
 and  7#b7 by striking clause 7iv7 and  
inserting the following3  7iv7          
,partnerships with no employees ,with   
respect to a partnership without        
employees1 the maximum covered loan     
amount shall be equal to the sum of--   
7,i7 the product obtained by            
multiplying-- 7aa7 the gross income1    
limited to the amount attributable to   
general partners as determined by the   
sum of their distributive shares of     
gross farming income from               
self-employment1 that is not more than  
#ajj1jjj per partner1 and no more than  
#ejj1jjj in total1 divided by #ab2 and  
7bb7 #b4e2 and  7,,ii7 the outstanding  
amount of a loan under subsection       
7b77#b7 that was made during the period 
beginning on ,january #ca1 #bjbj and    
ending on ,april #c1 #bjbj 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 repaid4  7v7         
,recalculation  7,i7 ,in general ,a     
lender that made a covered loan before  
the date of enactment of the ,,ppp      
,flexibility for ,farmers1 ,ranchers1   
and the ,self-,employed ,act may1 at the
 request of the covered recipient-- 7aa7
 recalculate the maximum loan amount    
applicable to that covered loan based on
 the formula described in clause 7ii71  
7iii71 or 7iv71 as applicable1 if doing 
so would result in a larger covered loan
 amount2 and  7bb7 provide the covered  
recipient with additional covered loan  
amounts based on that recalculation4    
7,,ii7 ,loan limitation ,for purposes of
 receiving a recalculated loan amount   
related to a covered loan under         
subclause 7,i71 paragraph 7#cg77;,f7    
shall not apply4  7,,iii7 ,effect of    
forgiveness ,subject to rules issued by 
the ,administrator1 a covered recipient 

shall be eligible to submit a request   
for a recalculated loan amount related  
to a covered loan under subclause 7,i7  
without regard to whether the covered   
recipient has sought or received        
forgiveness with respect to the         
applicable covered loan under section   
#g;,a4  7,,iv7 ,forgiveness of          
recalculated loan amount ,for purposes  
of this subparagraph1 as soon as is     
practicable upon expenditure of         
additional covered loan amounts provided
 under subclause 7,i7-- 7aa7 an eligible
 recipient shall attest to compliance   
with applicable requirements under this 
paragraph2 and  7bb7 the additional     
covered loan amounts shall be forgiven  
under section #g;,a4  7,v7              
,reimbursement for loan processing ,the 
,administrator shall reimburse a lender 
for processing recalculation requests   
under this clause in an amount          
determined by the ,administrator4  4    
7b7 ,effective date2 applicability ,the 
amendments 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 before1 on1 or after the 
date of enactment of this ,act4