Pub. L. 117-6 - PPP Extension Act of 2021

117th Congress

Affects: 2 U.S.C. §§ 933; 15 U.S.C. §§ 636

SECTION 1. SHORT TITLE.

This Act may be cited as the “PPP Extension Act of 2021”.

SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK PROTECTION PROGRAM.

(a) Section 7(a)(36)(A)(iii) of the Small Business Act (15 U.S.C. 636(a)(36)(A)(iii)) is amended by striking “March 31, 2021” and inserting “June 30, 2021”.

(b) Section 1102(b)(1) of the CARES Act (Public Law 116–136), as amended by section 323 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Public Law 116–260),134 Stat. 2018. is amended by striking “March 31, 2021” and inserting “June 30, 2021”.

(c) From June 1, 2021, through June 30, 2021, the Administrator of the Small Business Administration shall not accept new lender applications for loans under paragraph (36) or (37) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)) and shall only process such lender applications that have been submitted to the Administrator before June 1, 2021.

SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.

(a) The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 933(d)).

(b) The budgetary effects of this Act shall not be entered on any PAYGO scorecard maintained for purposes of section 4106 of H. Con. Res. 71 (115th Congress).

Legislative History

LEGISLATIVE HISTORY—H.R. 1799:

CONGRESSIONAL RECORD, Vol. 167 (2021):

Mar. 16, considered and passed House.

Mar. 25, considered and passed Senate.

DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2021):

Mar. 30, Presidential remarks.