Sec. 1. Treatment of paycheck protection program loan forgiveness of payroll costs under highway and public transportation project cost-reimbursement contracts
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Notwithstanding section 31.201–5 of title 48, Code of Federal Regulations (or successor regulations), for the purposes of any cost-reimbursement contract awarded in accordance with section 112 of title 23, United States Code, or section 5325 of title 49, United States Code, or any subcontract under such a contract, no cost reduction or cash refund (including through a reduced indirect cost rate) 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 those terms are defined in section 7A(a) of the Small Business Act ( 15 U.S.C. 636m(a) )) issued under the paycheck protection program under section 7(a)(36) of that Act ( 15 U.S.C. 636(a)(36) ).
Nothing in this section amends or exempts the prohibitions and liabilities under section 3729 of title 31, United States Code. This section ceases to be effective on June 30, 2025.
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Sec. 1
Treatment of paycheck protection program loan forgiveness of payroll costs under highway and public transportation project cost-reimbursement contracts
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