HB 20B-1015

  • Colorado House Bill
  • 2020 First Extraordinary Session
  • Introduced in House Nov 30, 2020
  • House
  • Senate
  • Governor

Small Business Paycheck Protection Loan Program

Abstract

The bill creates the small business paycheck protection loan program (program). The program provides loans to eligible small businesses that have received a loan from the federal paycheck protection program, created in the federal "Coronavirus Aid, Relief, and Economic Security Act" ("CARES Act") and expanded in the "Paycheck Protection Program and Health Care Enhancement Act", and that continue to face economic hardship due to the COVID-19 pandemic. A loan issued to a small business may not exceed the lesser of 20% of the business's approved federal paycheck protection loan or $100,000. Each loan is deferred until the loan's maturity date and may be forgiven if the small business uses the loan solely for qualified purposes. (Note: This summary applies to this bill as introduced.)

Bill Sponsors (1)

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Actions


Nov 30, 2020

House

House Committee on Finance Postpone Indefinitely

Finance

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Introduced (11/30/2020) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (11/30/2020) PDF
Fiscal Note FN2 (12/10/2020) PDF

Sources

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