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I
116TH CONGRESS
2D SESSION
H. R. 7437
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.
IN THE HOUSE OF REPRESENTATIVES
JULY 1, 2020
Ms. CRAIG (for herself and Mr. BALDERSON) introduced the following bill;
which was referred to the Committee on Small Business
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.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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•HR 7437 IH
SECTION 1. EXTENDING AUTHORITY FOR COMMITMENTS
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FOR THE PAYCHECK PROTECTION PROGRAM
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AND SEPARATING AMOUNTS AUTHORIZED
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FOR OTHER 7(a) LOANS.
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Section 1102(b) of title I of division A of the
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Coronavirus Aid, Relief, and Economic Security Act (Pub-
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lic Law 116–136) is amended to read as follows:
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‘‘(b) COMMITMENTS
FOR PPP AND OTHER 7(a)
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LOANS.—
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‘‘(1) PPP LOANS.—During the period begin-
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ning on February 15, 2020 and ending on August
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8, 2020, the amount authorized for commitments
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under paragraph (36) of section 7(a) of the Small
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Business
Act
(15
U.S.C.
636(a))
shall
be
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$659,000,000,000.
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‘‘(2) OTHER 7(a) LOANS.—During fiscal year
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2020, the amount authorized for commitments for
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section 7(a) of the Small Business Act (15 U.S.C.
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636(a)) under the heading ‘BUSINESS LOANS PRO-
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GRAM ACCOUNT’ under the heading ‘SMALL BUSI-
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NESS ADMINISTRATION’ under title V of the Consoli-
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dated Appropriations Act, 2020 (Public Law 116–
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93; 133 Stat. 2475) shall apply with respect to any
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commitments under such section 7(a) other than
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under paragraph (36) of such section 7(a).’’.
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