I 117TH CONGRESS 1ST SESSION H. R. 1246 To amend the Small Business Act to allow ranchers and farmers to use an alternative calculation for a maximum loan amount under the pay- check protection program. IN THE HOUSE OF REPRESENTATIVES FEBRUARY 23, 2021 Mr. KIND (for himself and Mr. FORTENBERRY) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to allow ranchers and farmers to use an alternative calculation for a maximum loan amount under the paycheck protection program. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Paycheck Protection 4 Clarification for Producers Act’’. 5 SEC. 2. PAYCHECK PROTECTION PROGRAM LOAN CAL- 6 CULATION FOR FARMERS OR RANCHERS. 7 (a) IN GENERAL.—Section 7(a)(36)(V)(i) of the 8 Small Business Act (as amended by the Economic Aid to 9 VerDate Sep 11 2014 00:52 Mar 21, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1246.IH H1246 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 1246 IH Hard-Hit Small Businesses, Nonprofits, and Venues Act 1 (Public Law 116–260)) is amended by striking subclause 2 (I) and redesignating subclauses (II) and (III) as sub- 3 clauses (I) and (II), respectively. 4 (b) EFFECTIVE DATE; APPLICABILITY.— 5 (1) IN GENERAL.—Except as provided in para- 6 graph (2), the amendments made by subsection (a) 7 shall be effective as if included in the CARES Act 8 (Public Law 116–136; 134 Stat. 281) and shall 9 apply to any loan made pursuant to section 7(a)(36) 10 of the Small Business Act (15 U.S.C. 636(a)(36)) 11 before, on, or after the date of enactment of this 12 Act, including forgiveness of such a loan. 13 (2) EXCLUSION OF LOANS ALREADY FOR- 14 GIVEN.—The amendments made by subsection (a) 15 shall not apply to a loan made pursuant to section 16 7(a)(36) of the Small Business Act (15 U.S.C. 17 636(a)(36)) for which the borrower received forgive- 18 ness before the date of enactment of this Act under 19 section 1106 of the CARES. 20 Æ VerDate Sep 11 2014 00:52 Mar 21, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1246.IH H1246 kjohnson on DSK79L0C42PROD with BILLS