Paycheck Protection Program and Health Care Enhancement Act
Latest action (24 Apr 2020): Became Public Law No: 116-139.
What this bill does
This act, known as the Paycheck Protection Program and Health Care Enhancement Act, provides additional funding for both small business programs and coronavirus response efforts. Specifically, it increases the authorized funding amounts for the Paycheck Protection Program, economic injury disaster loans, and emergency grants. It also makes agricultural enterprises eligible for these disaster loans and grants, and sets aside funds for loans made by certain credit unions and financial institutions.
The act also appropriates significant funds to the Department of Health and Human Services for coronavirus response. This includes funds to reimburse eligible healthcare providers for coronavirus-related expenses or lost revenue, and funds for research, development, manufacturing, and distribution of COVID-19 tests. These funds are intended for various activities such as expanding testing capacity, supporting laboratories, and facilitating contact tracing.
This bill was introduced in the 116th Congress and has been enacted, meaning it was signed into law by the President on April 24, 2020. As an enacted law, its provisions are now in effect.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Paycheck Protection Program and Health Care Enhancement Act
This bill responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak by providing additional funding for small business loans, health care providers, and COVID-19 testing.
DIVISION A--SMALL BUSINESS PROGRAMS
(Sec. 101) This division provides additional lending authority for certain Small Business Administration (SBA) programs in response to COVID-19.
Specifically, the division increases the authority for (1) the Paycheck Protection Program, under which the SBA may guarantee certain loans to small businesses during the COVID-19 pandemic; and (2) advances on emergency economic injury disaster loans made in response to COVID-19. The division also expands eligibility for such disaster loans and advances to include agricultural enterprises.
Additionally, the division requires the SBA to guarantee no less than a specified amount of paycheck protection loans made by certain insured depository institutions, community financial institutions, and credit unions.
(Sec. 102) The amounts provided under this division are designated as an emergency requirement pursuant to the Statutory Pay-As-You-Go Act of 2010 (PAYGO) and the Senate PAYGO rule.
DIVISION B--ADDITIONAL EMERGENCY APPROPRIATIONS FOR CORONAVIRUS RESPONSE
Timeline
24 Apr 2020
Became Public Law No: 116-139.
Common questions
- What does H.R. 266 do?
- This act, known as the Paycheck Protection Program and Health Care Enhancement Act, provides additional funding for both small business programs and coronavirus response efforts. Specifically, it increases the authorized funding amounts for the Paycheck Protection Program, economic injury disaster loans, and emergency grants. It also makes agricultural enterprises eligible for these disaster loans and grants, and sets aside funds for loans made by certain credit unions and financial institutions. The act also appropriates significant funds to the Department of Health and Human Services for coronavirus response. This includes funds to reimburse eligible healthcare providers for coronavirus-related expenses or lost revenue, and funds for research, development, manufacturing, and distribution of COVID-19 tests. These funds are intended for various activities such as expanding testing capacity, supporting laboratories, and facilitating contact tracing. This bill was introduced in the 116th Congress and has been enacted, meaning it was signed into law by the President on April 24, 2020. As an enacted law, its provisions are now in effect.
- Has H.R. 266 become law?
- Yes. H.R. 266 has been enacted. Status last updated 24 Apr 2020.
- Who sponsored H.R. 266?
- H.R. 266 was sponsored by Rep. McCollum, Betty [D-MN-4] (D-MN), with 0 cosponsors.
- What's the latest action on H.R. 266?
- Became Public Law No: 116-139. (24 Apr 2020).
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