1. Short title
This Act may be cited as the “Paycheck Protection Program Expansion Act of 2020” or the “PPP Expansion Act of 2020”.
Paycheck Protection Program Expansion Act of 2020
A BILL
To amend the Small Business Act to include certain business and labor organizations in the paycheck protection program, and for other purposes.
2. Inclusion of certain business organizations in the paycheck protection program
Section 7(a)(36)(A)(vii) of the Small Business Act is amended by striking “section 501(c)(3) of the Internal Revenue Code of 1986” and inserting “paragraph (3), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986”.