H.R. 2799 · 117th Congress
No Duplicate PPP Loans Act of 2021
- Stage
- In committee
- Sponsor
- Scott Perry
- Introduced
- 2021-04-22
- Latest action
- 2021-04-22 · Introduced in House
Summary
No Duplicate PPP Loans Act of 2021
This bill requires a borrower that knowingly and willfully submits false information in order to obtain a loan under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to repay any amount received. The Small Business Administration must submit a report on any such loans that includes the number of attempted and processed applications for such loans and actions taken to recover improper disbursements.