View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

TREAS/DO RIN: 1505-AC75 Publication ID: Fall 2021 
Title: Business Loan Program Temporary Changes; Paycheck Protection Program-Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act 
Abstract:

This interim final rule implements changes related to the forgiveness and review of loans made under the Paycheck Protection Program (PPP), which was originally established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19). On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) was enacted, extending the authority to make PPP loans through March 31, 2021, revising certain PPP requirements, and permitting second draw PPP loans. This interim final rule consolidates prior rules related to forgiveness and reviews of PPP loans and incorporates changes made by the Economic Aid Act, including with respect to forgiveness of second draw PPP loans.

 
Agency: Department of the Treasury(TREAS)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 13 CFR 120   
Legal Authority: Pub. L. 116-136    Pub. L. 116-260    15 U.S.C. 636   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  02/05/2021  86 FR 8283   
Interim Final Rule Effective  02/03/2021 
Interim Final Rule Comment Period End  03/08/2021 
Final Action  09/00/2022 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Adair Morse
Deputy Assistant Secretary
Department of the Treasury
1500 Pennsylvania Avenue NW,
Washington, DC 20220
Phone:202 622-2000
Email: adair.morse@treasury.gov