15 U.S.C. 636m: Loan forgiveness

2021

• Pub. L. 117–2, §5001(c)(1)(B), which directed insertion of ", or premiums taken into account in determining the credit allowed under section 6432 of title 26" before the period at the end of par. (12), was executed by making the insertion before the period at end of the penultimate… (American Rescue Plan Act of 2021) Law text · (a)
• Pub. L. 117–2, §5001(c)(1)(A), substituted "CARES Act," for "CARES Act or". (American Rescue Plan Act of 2021) Law text · (a)

2020

• Pub. L. 116–260, div. N, §304(b)(1)(B)(i), substituted "section 636(a)(36) of this title" for "paragraph (36) of section 636(a) of this title, as added by section 1102". (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(A)(v), added par. (3). Former par. (3) redesignated (4). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–142, §3(b)(1), added par. (3) and struck out former par. (3) which read as follows: "the term 'covered period' means the 8-week period beginning on the date of the origination of a covered loan;". Law text · (a)
• Pub. L. 116–260, div. N, §306(A), amended par. (4) generally. Prior to amendment, par. (4) read as follows: "the term 'covered period' means, subject to subsection (l), the period beginning on the date of the origination of a covered loan and ending the earlier of— (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(A)(iii), (iv), redesignated par. (3) as (4). Former par. (4) redesignated (6). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(A)(i)–(iv), (vi)–(viii), added pars. (5), (7), and (9) and redesignated former pars. (4), (5), (6), and (7) as (6), (8), (10), and (11), respectively. Former par. (8) redesignated (12). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(A)(ix), added subpars. (E) to (H). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. EE, §303(g), inserted at end "Such payroll costs shall not include qualified wages taken into account in determining the credit allowed under subsection (a) or (d) of section 303 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020." (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. EE, §206(c)(1), inserted at end "Such payroll costs shall not include qualified wages taken into account in determining the credit allowed under section 2301 of the CARES Act or qualified wages taken into account in determining the credit allowed under subsection (a) or (d) of… (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §315(b), amended par. (12) generally. Prior to amendment, par. (12) read as follows: "the term 'payroll costs' has the meaning given that term in paragraph (36) of section 636(a) of this title, as added by section 1102 of this Act." (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(A)(i), redesignated par. (8) as (12). (Consolidated Appropriations Act, 2021) Law text · (a)
• Pub. L. 116–260, div. N, §304(b)(2)(B), added pars. (5) to (8). (Consolidated Appropriations Act, 2021) Law text · (b)
• Pub. L. 116–260, div. N, §304(b)(1)(B)(ii), made technical amendment to references in original act which appear in text wherever appearing as references to section 636(a) of this title. (Consolidated Appropriations Act, 2021) Law text · (c)
• Pub. L. 116–260, div. N, §311(b)(1)(A), inserted "(or, with respect to a covered loan made on or after December 27, 2020, not later than the last day of the covered period with respect to such covered loan)" after "December 31, 2020". (Consolidated Appropriations Act, 2021) Law text · (d), (ii)
• Pub. L. 116–142, §3(b)(2)(A), substituted "December 31, 2020" for "June 30, 2020". Law text · (d), (ii)
• Pub. L. 116–260, div. N, §311(b)(1)(B), in introductory provisions and subpar. (B) inserted "(or, with respect to a covered loan made on or after December 27, 2020, ending on the last day of the covered period with respect to such covered loan)" after "December 31, 2020" and in subp… (Consolidated Appropriations Act, 2021) Law text · (d)
• Pub. L. 116–142, §3(b)(2)(B), added par. (7). Law text · (d)
• Pub. L. 116–260, div. N, §304(b)(2)(C), inserted "any payment on any covered operations expenditure, any payment on any covered property damage cost, any payment on any covered supplier cost, any payment on any covered worker protection expenditure," after "rent obligation,". (Consolidated Appropriations Act, 2021) Law text · (d)
• Pub. L. 116–142, §3(b)(2)(B), added par. (8). Law text · (d)
• Pub. L. 116–260, div. N, §307(a)(1), substituted "Except as provided in subsection (l), an eligible" for "An eligible" in introductory provisions. (Consolidated Appropriations Act, 2021) Law text · (e)
• Pub. L. 116–260, div. N, §304(b)(2)(D)(i), inserted "purchase orders, orders, invoices," after "transcripts of accounts," and substituted "covered rent obligations, payments on covered operations expenditures, payments on covered property damage costs, payments on covered supplier c… (Consolidated Appropriations Act, 2021) Law text · (e)
• Pub. L. 116–260, div. N, §304(b)(2)(D)(ii), inserted "make payments on covered operations expenditures, make payments on covered property damage costs, make payments on covered supplier costs, make payments on covered worker protection expenditures," after "rent obligation,". (Consolidated Appropriations Act, 2021) Law text · (e)
• Pub. L. 116–260, div. N, §307(a)(2), inserted "or the certification required under subsection (l), as applicable" after "subsection (e)". (Consolidated Appropriations Act, 2021) Law text · (f)
• Pub. L. 116–260, div. N, §305(a), amended subsec. (h) generally. Prior to amendment, text read as follows: "If a lender has received the documentation required under this section from an eligible recipient attesting that the eligible recipient has accurately verified the payments for p… (Consolidated Appropriations Act, 2021) Law text · (h)
• Pub. L. 116–260, div. N, §276(a)(1), amended subsec. (i) generally. Prior to amendment, text read as follows: "For purposes of title 26, any amount which (but for this subsection) would be includible in gross income of the eligible recipient by reason of forgiveness described in subsec… (Consolidated Appropriations Act, 2021) Law text · (i)
• Pub. L. 116–260, div. N, §307(a)(3), added subsec. (l). (Consolidated Appropriations Act, 2021) Law text · (l)
• Pub. L. 116–260, div. N, §306(1), struck out subsec. (l). Text read as follows: "An eligible recipient that received a covered loan before June 5, 2020, may elect for the covered period applicable to such covered loan to end on the date that is 8 weeks after the date of the origination of such cove… (Consolidated Appropriations Act, 2021) Law text · (l)
• Pub. L. 116–142, §3(b)(3), added subsec. (l). Law text · (l)