Sec. 2. Exclusion of EIDL advance amounts from calculation of loan forgiveness under the paycheck protection program
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Section 1106 of the CARES Act ( 15 U.S.C. 9005 ) is amended by adding at the end the following new subsection: The amount of loan forgiveness an eligible recipient may receive under this section shall be determined without regard to any amount of an advance such eligible recipient received under section 1110(e) of this Act. . Section 7(a)(36)(G) of the Small Business Act ( 15 U.S.C. 636(a)(36)(G) ) is amended— in the subparagraph heading, by striking and all that follows through Borrower requirements eligible recipient applying and inserting ; Borrower certification requirements .—An eligible recipient applying by redesignating subclauses
(I)through
(IV)as clauses
(i)through (iv), respectively; and in clause
(iv)(as so redesignated), by inserting before the period at the end the following: , except for any amount of an advance such eligible recipient received under section 1110(e) of the CARES Act ( . 15 U.S.C. 9009(e) )
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Sec. 2
Exclusion of EIDL advance amounts from calculation of loan forgiveness under the paycheck protection program
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