Fair PPP Accounting Act
Summary
Fair PPP Accounting Act This bill modifies eligibility for second draw loans under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides for a period of 90 consecutive days to determine whether a borrower experienced a loss in revenue from 2019 to 2020 that qualifies them for a second draw loan. Currently, this qualification period must align with a corresponding calendar quarter from the previous year.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2021
Committee Review
Floor Vote
President
Introduced Apr 19, 2021
Last action Apr 19, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 19, 2021
Committee
Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Apr 19, 2021
Introduced
Introduced in Senate
upper
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Rob Portman
RRepublican
Co
Jeanne Shaheen
DDemocratic
Co
Susan M. Collins
RRepublican
Ask Maddy
·
AI policy assistant
Ask Maddy about S 1200
Scope: US
Hi! I can help you understand S 1200. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline