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Additional Loan Forgiveness for Low-Revenue Businesses

This act amends the Paycheck Protection Program (PPP), allowing low-revenue businesses to receive additional loan forgiveness. This means that companies facing financial difficulties in 2020 may get more support and reduced debt, potentially helping them sustain operations and jobs.
Key points
Low-revenue businesses can choose a new covered period for PPP loan forgiveness, offering greater flexibility.
Businesses that already received forgiveness may apply for additional forgiveness, reducing their financial burden.
A low-revenue business is defined as one not operating or having significantly lower revenue in 2020 compared to 2019.
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Additional Information
Print number: 117_HR_6252
Sponsor: Rep. Nadler, Jerrold [D-NY-10]
Process start date: 2021-12-13
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Low-Revenue Recipient Paycheck Protection Program Relief Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6252.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-13.

What are the main provisions?

Key points include:

  • Low-revenue businesses can choose a new covered period for PPP loan forgiveness, offering greater flexibility.
  • Businesses that already received forgiveness may apply for additional forgiveness, reducing their financial burden.
  • A low-revenue business is defined as one not operating or having significantly lower revenue in 2020 compared to 2019.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Nadler, Jerrold [D-NY-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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