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Code · BILL · 116th Congress · S. 4321 (Introduced in Senate) — To establish the Paycheck Protection Program Second Draw Loan and amend the 7(a) loan guaranty program for recovery s... · Sec. 111

Sec. 111. Definition of seasonal employer

163 words·~1 min read·/bill/116/s/4321/is/section-111

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Section 7(a)(36)(A) of the Small Business Act ( 15 U.S.C. 636(a)(36)(A) ) is amended— in clause (xi), by striking and at the end; in clause (xii), by striking the period at the end and inserting ; and ; and by adding at the end the following: the term seasonal employer means an eligible recipient that— does not operate for more than 7 months in any calendar year; or during the preceding calendar year, had gross receipts for any 6 months of that year that were not more than 33.33 percent of the gross receipts of the employer for the other 6 months of that year. . Paragraph
(12)of section 1106(a) of the CARES Act ( 15 U.S.C. 9005(a) ), as so redesignated by by section 101(b) of this Act, is amended to read as follows: the terms payroll costs and seasonal employer have the meanings given those terms in section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ). .
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Sec. 111
Definition of seasonal employer
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