Paycheck Protection Program: Federal Laws

The bill included $7.25 billion in new money for the small-business loan program known as PPP and allowed more nonprofits to apply, including those groups that engage in advocacy and some limited lobbying. It also allowed larger nonprofits to be eligible.

Congress allowed PPP borrowers to take tax deductions for covered business expenses,

To amend the Small Business Act and the CARES Act to modify certain provisions related to the forgiveness of loans under the paycheck protection program, to allow recipients of loan forgiveness under the paycheck protection program to defer payroll taxes, and for other purposes.
Signed by the President 6/5/20

Companion legislation to H.R. 7334. Expands the statute of limitations for fraud under the PPP program for 10 years.

Expands the statute of limitations for fraud under the PPP program to 10 years.

Codified at 13 CFR Part 120

GAO-20-708: Published: Aug 31, 2020.

Justice Department 8/6/20

NBC News 12/14/22

Politico 12/7/22 A federal grand jury indicted Republican Florida state Rep. Joe Harding on six counts after authorities said he illegally obtained $150,000 in pandemic-related small business loans by allegedly using the names of two dormant companies.

Press Release 10/18/22

WITN.com 9/21/23