We don’t have a summary available yet.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 22, 2021.
No Duplicate PPP Loans Act of 2021
This bill requires a borrower that knowingly and willfully submits false information in order to obtain a loan under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to repay any amount received. The Small Business Administration must submit a report on any such loans that includes the number of attempted and processed applications for such loans and actions taken to recover improper disbursements.