H.R. 6781 · 116th Congress
Paycheck Protection Program Improved Coordination Act of 2020
- Stage
- In committee
- Sponsor
- Chris Pappas
- Introduced
- 2020-05-08
- Latest action
- 2020-05-08 · Introduced in House
Summary
Paycheck Protection Program Improved Coordination Act of 2020
This bill coordinates the Paycheck Protection Program (PPP), established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), with the employee retention tax credit for employers subject to closure due to COVID-19, by allowing loan amounts not forgiven under the PPP to be taken into account for purposes of the retention tax credit.