ELECTION OF 12-WEEK PERIOD BY SEASONAL EMPLOYERS.

SEC. 336. ELECTION OF 12-WEEK PERIOD BY SEASONAL EMPLOYERS. (a) In General.—Section 7(a)(36)(E)(i)(I)(aa)(AA) of the Small Business Act (15 U.S.C. 636(a)(36)(E)(i)(I)(aa)(AA)) is amended by striking “, in the case of an applicant” and all that follows through “June 30, 2019” and inserting the following: “an applicant that is a seasonal employer shall use the average total monthly payments for payroll for any 12-week period selected by the seasonal employer between February 15, 2019, and February 15, 2020”. (b) [15 U.S.C. 636 note] Effective Date; Applicability.— (1) In general.—Except as provided in paragraph (2), the amendment made by subsection (a) shall be effective as if included in the CARES Act (Public Law 116-136; 134 Stat. 281) and shall apply to any loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) before, on, or after the date of enactment of this Act, including forgiveness of such a loan. (2) Exclusion of loans already forgiven.—The amendment made by subsection (a) shall not apply to a loan made pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) for which the borrower received forgiveness before the date of enactment of this Act under section 1106 of the CARES Act, as in effect on the day before such date of enactment.