Director, Office of Financial Assistance

3245-AH45 202310 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Business Loan Program Temporary Changes; Paycheck Protection Program--Second Extension of Limited Safe Harbor With Respect to Certification Concerning Need for PPP Loan and Lender Reporting

On May 8, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule relating to the extension of a safe harbor with respect to a certification required by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act) in connection with the implementation of a temporary new program, titled the Paycheck Protection Program. This interim final rule revised the interim final rule posted on May 8, 2020, by extending the date by which certain Paycheck Protection Program (PPP) borrowers may repay their loans from May 14, 2020 to May 18, 2020, in order to avail themselves of a safe harbor with respect to the certification required by the Act, and by extending the timeframe for submission of the initial SBA Form 1502 report for PPP loans. This interim final rule supplemented SBA’s implementation of the Act. This rule will be finalized and codified as part of a single consolidated rule.

]]> Section 3(f)(1) Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 13 CFR 120 Pub. L. 116-136 Pub. L. 116-139 No Interim Final Rule 05/26/2020 85 FR 31357 Interim Final Rule Effective 05/26/2020 Interim Final Rule Comment Period End 06/25/2020 Final Action 03/00/2024 No None No No No Dianna Seaborn L. Director, Office of Financial Assistance 3245 Small Business Administration SBA 202 205-3645 dianna.seaborn@sba.gov 409 Third Street SW, Washington DC 20416