Sec. 6429. Treatment of paycheck protection program loan forgiveness of payroll costs under highway and public transportation project cost reimbursement contracts
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/bill/117/hr/4350/eh/section-6429A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding section 31.201–5 of title 48, Code of Federal Regulations (or successor regulations), for the purposes of any cost-reimbursement contract for architectural and engineering contracts initially awarded in accordance with section 112 of title 23, United States Code, or section 5325(b) of title 49, United States Code, or any subcontract under such a contract, no cost reduction or cash refund shall be due to the Department of Transportation or to a State transportation department, transit agency, or other recipient of assistance under chapter 1 of title 23, United States Code, or chapter 53 of title 49, United States Code, on the basis of forgiveness of the payroll costs of a covered loan, as defined in section 7A of the Small Business Act ( 15 U.S.C. 636m ), pursuant to the provisions of such section.
This section shall expire on June 30, 2025.
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Sec. 6429
Treatment of paycheck protection program loan forgiveness of payroll costs under highway and public transportation project cost reimbursement contracts
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