,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #eige  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #be1 #bjah,miss  
,gonzlez-,coln ( ,pu]to ,rico 7= h]self1
 ,mr4 ,bi%op ( ,utah1 ,mr4 ,mac,arthur1 
,mr4 ,duffy1 ,mr4 ,curbelo ( ,florida1 &
 ,mr4 ,"y ( ,alaska7 introduc$ ! foll[+ 
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means1 & 9 addition to !       
,committees on ,small ,bus9ess1         
,f9ancial ,s]vices1 ,ov]sight &         
,gov]nm5t ,re=m1 & ,en]gy & ,comm]ce1 = 
a p]iod to be subsequ5tly det]m9$ by !  
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
support bus9esses 9 ,pu]to ,rico1 ext5d 
*ild tax cr$its = families 9 ,pu]to     
,rico1 & = o!r purposes4  #a4 ,%ort     
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,pu]to ,rico  
,economic ,emp[]m5t ,act ( #bjah4  7b7  
,table ( cont5ts ,! table ( cont5ts (   
?is ,act is z foll[s3  ,sec4 #a4 ,%ort  
title2 table ( cont5ts4 ,,title ,i--,tax

 ,relief ,sec4 #aja4 ,tempor>y employee 
payroll tax cut = resid5ts ( ,pu]to     
,rico4 ,sec4 #ajb4 ,equal treatm5t (    
,pu]to ,rican families ) #a or m *ildr5 
t is curr5tly provid$ to families ) #c  
or m *ildr54 ,,title ,,ii--,flexibility 
= ,pu]to ,rico 9 ,small ,bus9ess        
,adm9i/ration programs ,sec4 #bja4 ,%ort
 title4 ,sec4 #bjb4 ,def9itions4        
,subtitle ,a--,l5d+ ,sec4 #baa4         
,microloan program = ,pu]to ,rico small 
bus9ess conc]ns4 ,subtitle              
,b--,procurem5t ,sec4 #bba4 ,priority = 
surplus prop]ty transf]s4 ,sec4 #bbb4   
,subcontract+ inc5tives = protege firms 
t are ,pu]to ,rico bus9esses4 ,sec4     
#bbc4 ,additional m5tor-protege         
relation%ips = protege firms t are      
,pu]to ,rico bus9esses4 ,subtitle       
,c--,entrepr5eurial ,developm5t ,sec4   
#bca4 ,,fa/ grant program = ,pu]to      
,rico4 ,subtitle ,d--,small ,bus9ess    
,adm9i/ration ,ov]sight ,sec4 #bda4     
,requirem5t = ! ,di/rict ,director (    
,pu]to ,rico4 ,subtitle ,e--,disa/]     

,loan ,program ,expansion ,sec4 #bea4   
,am5dm5t to def9ition ( disa/] = #g7;b7 
loans4 ,subtitle ,f--,am5dm5t to !      
,inve/m5t ,company ,act ( #aidj ,sec4   
#bfa4 ,t]m9ation ( exemption = companies
 9 t]ritories ( ! ,unit$ ,/ates4 ,,title
 ,,iii--,economic /ati/ics ,sec4 #cja4  
,def9ition4 ,sec4 #cjb4 ,inclusion (    
,pu]to ,rico 9 ,c5sus surveys4 ,sec4    
#cjc4 ,f$]al ,/ati/ical ,rese>* ,data   
,c5t]4 ,,title ,,iv--,(fsets ,sec4 #dja4
 ,prev5tion & ,public ,heal? ,fund4  ,i 
,tax ,relief  #aja4 ,tempor>y employee  
payroll tax cut = resid5ts ( ,pu]to     
,rico  7a7 ,9 g5]al ,not)/&+ any o!r    
provision ( law1 9 ! case ( a qualifi$  
resid5t ( ,pu]to ,rico-- 7#a7 !re %all  
be all[$ a cr$it aga9/ ! tax impos$ by  
section #adja7;a7 ( ! ,int]nal ,rev5ue  
,code ( #aihf = any taxable ye> :i*     
beg9s 9 ! payroll tax holiday p]iod an  
am\nt equal to #c4a p]c5t ( ! less] (-- 
7,a7 ! self-employm5t income 7z def9$ 9 
section #adjb7;b7 ( su* ,code7 d]iv$ f  
s\rces )9 ,pu]to ,rico 7z det]m9$ "u    

section #icg7;b7 ( su* ,code7 = !       
taxable ye>1 or  7,b7 ! net e>n+s f     
self-employm5t 7z def9$ 9 section       
#adjb7;a7 ( su* ,code7 = ! taxable ye>1 
&  7#b7 ) respect to remun]ation receiv$
 dur+ ! payroll tax holiday p]iod =     
s]vices p]=m$ z an employee )9 ,pu]to   
,rico 7except am\nts receiv$ = s]vices  
p]=m$ z an employee ( ! ,unit$ ,/ates or
 any ag5cy !re(71 ! rate ( tax "u       
#caja7;a7 ( su* ,code %all be #c4a p]c5t
 7includ+ = purposes ( det]m9+ !        
applicable p]c5tage "u sections         
#cbja7;a7 & #cbaa7;a77#a7 ( su* ,code74 
7b7 ,special rules  7#a7 ,application ( 
rule = special refunds ,9 ! case ( a    
qualifi$ resid5t ( ,pu]to ,rico to :om  
subsection 7a77#b7 applies1 ! fir/      
s5t5ce ( section #fdac7;c77#a7 ( !      
,int]nal ,rev5ue ,code ( #aihf %all be  
appli$ by sub/itut+ = exce$s ! tax )    
respect to ! am\nt ( su* wages receiv$ 9
 su* ye> :i* is equal to su*            
contribution & b5efit base ! foll[+3    
exce$s ! sum (-- 7#a7 #c4a p]c5t ( !    

less] (-- 7,a7 ! wages receiv$ 9 su* ye>
 to :i* section #b7;a77#b7 ( ! ,pu]to   
,rico ,economic ,emp[]m5t ,act ( #bjah  
applies1 or  7,b7 ! contribution &      
b5efit base1 plus  7#b7 #f4b p]c5t ( !  
less] (--  7,a7 ! wages receiv$ 9 su*   
ye> to :i* su* section does n apply1 or 
7,b7 ! contribution & b5efits base r$uc$
 7b n bel[ z]o7 by ! am\nt ( wages tak5 
into acc\nt "u p>agraph 7#a74  4  7#b7  
,employ] liability ,an employ] :o       
receives an atte/ation f an employee1 9 
su* =m & mann] z direct$ by ! ,secret>y 
( ! ,treasury 7or ! ,secret>y's         
delegate71 t su* employee is a qualifi$ 
resid5t ( ,pu]to ,rico %all n be liable 
"u section #cajb or #cbjb ( ! ,int]nal  
,rev5ue ,code ( #aihf = any failure to  
collect taxes 9 excess ( ! rate :i*     
applies "u ?is section unless a         
reasonable p]son w\ld det]m9e t su*     
atte/ation is n true & correct4  7#c7   
,de m9imis s]vices ,= purposes (        
subsection 7a77#b71 s]vices p]=m$ z an  
employee outside ( ,pu]to ,rico %all n  

be tak5 into acc\nt if su* s]vices are  
de m9imis4  7c7 ,def9itions  7#a7       
,qualifi$ resid5t ,! t]m qualifi$       
resid5t means1 ) respect to any cal5d>  
ye>1 any individual-- 7,a7 :o 0 pres5t 9
 ,pu]to ,rico = at lea/ #ahc days dur+ !
 prec$+ cal5d> ye>1 &  7,b7 :o1 z ( !   
fir/ day ( ! cal5d> ye>1 does n h a tax 
home 7det]m9$ "u ! pr9ciples ( section  
#iaa7;d77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf )\t reg>d to ! second s5t5ce    
!re(7 outside ( ,pu]to ,rico & does n h 
a clos] connection 7det]m9$ "u !        
pr9ciples ( section                     
#ggja7;b77#c77;,b77ii7 ( su* ,code7 to !
 ,unit$ ,/ates or a =eign c\ntry ?an to 
,pu]to ,rico4  ,= purposes ( subp>agraph
 7,a71 ! det]m9ation ( :e!r a p]son is  
pres5t = any day %all be made "u !      
pr9ciples ( section #ggja7;b7 ( su*     
,code4  7#b7 ,payroll tax holiday p]iod 
,! t]m payroll tax holiday p]iod means !
 p]iod beg9n+ aft] ,june #cj1 #bjah1 &  
end+ be=e ,july #a1 #bjbj4  7d7 ,employ]
 notification ,! ,secret>y ( ! ,treasury

 %all notify employ]s ( ! payroll tax   
holiday p]iod 9 any mann] ! ,secret>y   
deems appropriate4  7e7 ,transf]s (     
funds  7#a7 ,transf]s to ,f$]al old-age 
& survivors insurance tru/ fund ,!re are
 h]eby appropriat$ to ! ,f$]al ,old-,age
 & ,survivors ,tru/ ,fund & ! ,f$]al    
,disability ,insurance ,tru/ ,fund      
e/abli%$ "u section #bja ( ! ,social    
,security ,act 7#db ,u4,s4,c4 #dja7     
am\nts equal to ! r$uction 9 rev5ues to 
! ,treasury by reason ( ! application ( 
subsection 7a74 ,am\nts appropriat$ by !
 prec$+ s5t5ce %all be transf]r$ f !    
g5]al fund at su* times & 9 su* mann] z 
to replicate to ! ext5t possible !      
transf]s :i* w\ld h occurr$ to su* ,tru/
 ,fund _h su* am5dm5ts n be5 enact$4    
7#b7 ,transf]s to social security       
equival5t b5efit acc\nt ,!re are h]eby  
appropriat$ to ! ,social ,security      
,equival5t ,b5efit ,acc\nt e/abli%$ "u  
section #ae;,a7a7 ( ! ,railroad         
,retirem5t ,act ( #aigd 7#de ,u4,s4,c4  
#bcan-#a7;a77 am\nts equal to ! r$uction

 9 rev5ues to ! ,treasury by reason ( ! 
application ( subsection 7a77#b74       
,am\nts appropriat$ by ! prec$+ s5t5ce  
%all be transf]r$ f ! g5]al fund at su* 
times & 9 su* mann] z to replicate to ! 
ext5t possible ! transf]s :i* w\ld h    
occurr$ to su* ,acc\nt _h su* am5dm5ts n
 be5 enact$4  7#c7 ,coord9ation ) o!r   
laws ,= purposes ( apply+ any provision 
( law o!r ?an ! provisions ( ! ,int]nal 
,rev5ue ,code ( #aihf1 ! rate ( tax 9   
effect "u section #caja7;a7 ( su* ,code 
%all be det]m9$ )\t reg>d to ! r$uction 
9 su* rate "u ?is section4  #ajb4 ,equal
 treatm5t ( ,pu]to ,rican families ) #a 
or m *ildr5 t is curr5tly provid$ to    
families ) #c or m *ildr5  7a7 ,9 g5]al 
,section #bd ( ! ,int]nal ,rev5ue ,code 
( #aihf1 z am5d$ by section #aajbb (    
,public ,law #aae-ig1 is am5d$ by add+  
at ! end ! foll[+ new subsection3  7i7  
,resid5ts ( ,pu]to ,rico ,9 ! case ( an 
individual :o is a bona fide resid5t (  
,pu]to ,rico dur+ ! entire taxable ye>--
  7#a7 subsection 7d77#a77;,b77ii7 %all 

be appli$ 7aft] application ( subsection
 7h771 by sub/itut+ #a or m qualify+    
*ildr5 = #c or m qualify+ *ildr51 &     
7#b7 = purposes ( subclause 7,i7 ( su*  
subsection1 su* individual's social     
security taxes = su* taxable ye> %all be
 det]m9$ z if section #aja ( ! ,pu]to   
,rico ,economic ,emp[]m5t ,act ( #bjah  
did n apply4  4  7b7 ,effective date ,! 
am5dm5t made by ?is section %all apply  
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjag4  ,,ii ,flexibility = ,pu]to 
,rico 9 ,small ,bus9ess ,adm9i/ration   
programs  #bja4 ,%ort title ,?is title  
may be cit$ z ! ,pu]to ,rico            
,opportunity1 ,small ,bus9ess           
,prosp]ity1 & ,economic ,revitalization 
,act ( #bjah4  #bjb4 ,def9itions  7a7 ,9
 g5]al ,9 ?is title3 7#a7 ,adm9i/ration2
 ,adm9i/rator ,! t]ms ,adm9i/ration &   
,adm9i/rator mean ! ,small ,bus9ess     
,adm9i/ration & ! ,adm9i/rator !re(4    
7#b7 ,microloan program ,! t]m microloan
 program means ! program e/abli%$ "u    
section #g7m7 ( ! ,small ,bus9ess ,act  

7#ae ,u4,s4,c4 #fcf7m774  7#c7 ,ov]sight
 ,bo>d t]m9ation date ,! t]m ,ov]sight  
,bo>d t]m9ation date means ! date on :i*
 ! ,ov]sight ,bo>d e/abli%$ "u section  
#aja ( ! ,pu]to ,rico ,ov]sight1        
,managem5t1 & ,economic ,/ability ,act  
7#dh ,u4,s4,c4 #baba7 t]m9ates4  7#d7   
,pu]to ,rico ,! t]m ,pu]to ,rico means !
 ,commonweal? ( ,pu]to ,rico4  7#e7     
,pu]to ,rico bus9ess ,! t]m ,pu]to ,rico
 bus9ess means a small bus9ess conc]n t 
has its pr9cipal (fice locat$ 9 !       
,commonweal? ( ,pu]to ,rico4  7#f7      
,small bus9ess conc]n ,! t]m small      
bus9ess conc]n has ! mean+ giv5 ! t]m 9 
section #c ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcb74  7b7 ,small ,bus9ess  
,act ,section #c ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fcb7 is am5d$ by   
add+ at ! end ! foll[+3  7ee7 ,pu]to    
,rico bus9ess ,9 ?is ,act1 ! t]m ,pu]to 
,rico bus9ess means a small bus9ess     
conc]n t has its pr9cipal (fice locat$ 9
 ! ,commonweal? ( ,pu]to ,rico4  4  ,a  
,l5d+  #baa4 ,microloan program = ,pu]to

 ,rico small bus9ess conc]ns  7a7       
,increase 9 access to capital = c]ta9   
int]m$i>ies ,section #g7m77#c77;,c7 ( ! 
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7m77#c77;,c77 is am5d$-- 7#a7 by    
ins]t+ & except z provid$ 9 clause 7ii7 
aft] subsection 7a77#c72  7#b7 by /rik+ 
,not)/&+ & ins]t+ ! foll[+3  7i7 ,9     
g5]al ,not)/&+  2 &  7#c7 by add+ at !  
end ! foll[+3  7ii7 ,exception = c]ta9  
,pu]to ,rico bus9esses  7,i7 ,9 g5]al   
,no loan %all be made "u ?is subsection 
if ! total am\nt out/&+ & committ$ to #a
 cov]$ int]m$i>y 7exclud+ out/&+ grants7
 f ! bus9ess loan & inve/m5t fund       
e/abli%$ by ?is ,act w\ld1 z a result ( 
su* loan1 exce$ #f1jjj1jjj 9 ! rema9+   
ye>s ( ! cov]$ int]m$i>y's p>ticipation 
9 ! program4  7,,ii7 ,def9ition ,9 ?is  
clause1 ! t]m cov]$ int]m$i>y means an  
int]m$i>y t-- 7aa7 is p>ticipat+ 9 !    
program2 &  7bb7 submits to !           
,adm9i/rator a c]tification t n less ?an
 #bj p]c5t ( ! microloans made by !     
int]m$i>y "u ?is subsection1 dur+ su*   

p]iod z ! ,adm9i/rator may specify1 w be
 made to ,pu]to ,rico bus9esses4  4  7b7
 ,waiv] ( #be_/ge rule = microloans to  
,pu]to ,rico small bus9ess conc]ns      
,section #g7m77#d77;,e7 ( ! ,small      
,bus9ess ,act 7#ae ,u4,s4,c4            
#fcf7m77#d77;,e77 is am5d$-- 7#a7 9     
clause 7i71 by /rik+ ,ea* & ins]t+      
,except z provid$ 9 clause 7iii71 ea*2 &
  7#b7 by add+ at ! end ! foll[+3  7iii7
 ,exception = c]ta9 int]m$i>ies ,!      
,adm9i/rator %all waive ! requirem5ts ( 
clause 7i7 = an int]m$i>y = :i* n less  
?an #be p]c5t ( ! loans made by !       
int]m$i>y are made to ,pu]to ,rico      
bus9esses4  4  7c7 ,,sba /udy ,n lat]   
?an #a ye> aft] ! date ( enactm5t ( ?is 
,act1 ! ,adm9i/rator %all conduct a /udy
 & submit to ! ,committee on ,small     
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & 
! ,committee on ,small ,bus9ess ( !     
,h\se ( ,repres5tatives a report on !   
foll[+3  7#a7 ,! op]ations 7includ+     
s]vices provid$1 /ructure1 size1 & area 
( op]ation7 ( a repres5tative sample (--

  7,a7 int]m$i>ies t are eligible =     
p>ticipation 9 ! microloan program & t  
p>ticipate 9 ! microloan program2 &     
7,b7 int]m$i>ies 7includ+ ^? op]at$ =   
pr(it1 op]at$ z nonpr(it organizations1 
& affiliat$ ) a ,unit$ ,/ates in/itution
 ( high] le>n+ 7z def9$ 9 section #cdeb 
( title #ch1 ,unit$ ,/ates ,code77 t are
 s eligible & t d n p>ticipate 9 !      
microloan program4  7#b7 ,! reasons :y  
int]m$i>ies describ$ 9 p>agraph         
7#a77;,b7 *oose n to p>ticipate 9 !     
microloan program4  7#c7 ,recomm5dations
 on h[ to enc\rage increas$ p>ticipation
 9 ! microloan program by int]m$i>ies   
describ$ 9 p>agraph 7#a77;,b74  7#d7    
,recomm5dations = increas+ ! numb] (    
int]m$i>ies locat$ 9 ! t]ritories ( !   
,unit$ ,/ates or 9 economically di/ress$
 areas 7z def9$ 9 section               
#g7m77#aa77;,d7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7m77#aa77;,d777 t   
are eligible = p>ticipation 9 !         
microloan program4  7#e7 ,recomm5dations
 on h[ to decrease ! co/s associat$ )   

p>ticipation 9 ! microloan program =    
eligible int]m$i>ies4  7d7 ,,gao /udy on
 microloan int]m$i>y practices ,n lat]  
?an #a ye> aft] ! date ( enactm5t ( ?is 
,act1 ! ,comptroll] ,g5]al ( ! ,unit$   
,/ates %all submit to ! ,committee on   
,small ,bus9ess & ,entrepr5eur%ip ( !   
,s5ate & ! ,committee on ,small ,bus9ess
 ( ! ,h\se ( ,repres5tatives a report   
evaluat+--  7#a7 ov]sight ( ! microloan 
program by ! ,adm9i/ration1 includ+     
ov]sight ( int]m$i>ies p>ticipat+ 9 !   
microloan program2 &  7#b7 ! specific   
processes us$ by ! ,adm9i/ration to     
ensure-- 7,a7 compliance by int]m$i>ies 
p>ticipat+ 9 ! microloan program2 &     
7,b7 ! ov]all p]=mance ( ! microloan    
program4  ,b ,procurem5t  #bba4         
,priority = surplus prop]ty transf]s    
,section #g7;j77#ac77;,f7 ( ! ,small    
,bus9ess ,act 7#ae ,u4,s4,c4            
#fcf7;j77#ac77;,f77 is am5d$ by add+ at 
! end ! foll[+3  7iii7  7,i7 ,9 ?is     
clause1 ! t]m cov]$ p]iod means ! p]iod 
beg9n+ on ! date ( enactm5t ( ?is clause

 & end+ on ! date on :i* ! ,ov]sight    
,bo>d e/abli%$ "u section #aja ( !      
,pu]to ,rico ,ov]sight1 ,managem5t1 &   
,economic ,/ability ,act 7#dh ,u4,s4,c4 
#baba7 t]m9ates4  7,,ii7 ,! ,adm9i/rator
 may transf] te*nology or surplus       
prop]ty "u clause 7i7 on a priority     
basis to a ,pu]to ,rico bus9ess if !    
,pu]to ,rico bus9ess meets ! requirem5ts
 = su* a transf]1 )\t reg>d to :e!r !   
,pu]to ,rico bus9ess is a ,program      
,p>ticipant4  4  #bbb4 ,subcontract+    
inc5tives = protege firms t are ,pu]to  
,rico bus9esses ,section #de7;a7 ( !    
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fegr7a77 is am5d$ by add+ at ! end !   
foll[+3  7#c7 ,pu]to ,rico small bus9ess
 conc]ns  7,a7 ,9 g5]al ,dur+ ! p]iod   
beg9n+ on ! date ( enactm5t ( ?is       
p>agraph & end+ on ! date on :i* !      
,ov]sight ,bo>d e/abli%$ "u section #aja
 ( ! ,pu]to ,rico ,ov]sight1 ,managem5t1
 & ,economic ,/ability ,act 7#dh        
,u4,s4,c4 #baba7 t]m9ates1 !            
,adm9i/rator %all provide additional    

inc5tives to cov]$ m5tors1 includ+      
provid+ additional cr$it = subcontracts 
aw>d$ to cov]$ proteges & co/s incurr$ =
 provid+ tra9+ to cov]$ proteges4  7,b7 
,def9itions ,9 ?is p>agraph-- 7i7 ! t]m 
cov]$ m5tor means a m5tor t ent]s into  
an agreem5t "u ?is ,act1 or "u any      
m5tor-protege program approv$ "u        
subsection 7b77#a71 ) a cov]$ protege2 &
  7ii7 ! t]m cov]$ protege means a      
protege-- 7,i7 ( a cov]$ m5tor2 &       
7,,ii7 t has its pr9cipal (fice locat$ 9
 ! ,commonweal? ( ,pu]to ,rico4  4      
#bbc4 ,additional m5tor-protege         
relation%ips = protege firms t are      
,pu]to ,rico bus9esses ,section         
#de7;b77#c77;,a7 ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fegr7b77#c77;,a77  
is am5d$ by ins]t+ 1 except t su*       
re/rictions %all n apply to a           
relation%ip t 0 ent]$ into be=e ! date  
on :i* ! ,ov]sight ,bo>d e/abli%$ "u    
section #aja ( ! ,pu]to ,rico ,ov]sight1
 ,managem5t1 & ,economic ,/ability ,act 
7#dh ,u4,s4,c4 #baba7 t]m9ates & 9 :i* !

 pr9cipal (fice ( ! protege is locat$ 9 
! ,commonweal? ( ,pu]to ,rico aft] ea*  
p>ticipant4  ,c ,entrepr5eurial         
,developm5t  #bca4 ,,fa/ grant program =
 ,pu]to ,rico  7a7 ,9 g5]al ,section #cd
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #feg;d7 is am5d$ by add+ at ! end !    
foll[+3  7j7 ,,fa/ grant program =      
,pu]to ,rico  7#a7 ,e/abli%m5t ,!       
,adm9i/rator %all e/abli% a program t   
%all be "p ( ! ,,fa/ program to make    
aw>ds to1 or ent] into coop]ative       
agreem5ts )1 a ,pu]to ,rico bus9ess4    
7#b7 ,te*nical assi/ance ,if no         
applicant is select$ to receive         
assi/ance "u ?is subsection1 !          
,adm9i/rator %all use am\nts appropriat$
 to c>ry out ?is subsection to provide  
bus9ess advice & c\nsel+ to a ,pu]to    
,rico bus9ess4  7#c7 ,waiv] ( mat*+     
requirem5ts ,! ,adm9i/rator may1 ^u     
application1 waive ! mat*+ requirem5ts  
"u subsection 7e77#b7 = an applicant t  
receives an aw>d or has 9 effect a      
coop]ative agreem5t "u ?is subsection4  

7#d7 ,fund+ ,!re is au?oriz$ to be      
appropriat$ #ajj1jjj = fiscal ye> #bjai1
 & ea* fiscal ye> !reaft]1 to c>ry out  
?is subsection4  4  7b7 ,prospective    
repeal ,effective on ! ,ov]sight ,bo>d  
t]m9ation date1 section #cd ( ! ,small  
,bus9ess ,act 7#ae ,u4,s4,c4 #feg;d71 z 
am5d$ by subsection 7a71 is am5d$ by    
/rik+ subsection 7j74  ,d ,small        
,bus9ess ,adm9i/ration ,ov]sight  #bda4 
,requirem5t = ! ,di/rict ,director (    
,pu]to ,rico  7a7 ,9 g5]al ,dur+ ! p]iod
 beg9n+ on ! date ( enactm5t ( ?is ,act 
& end+ on ! ,ov]sight ,bo>d t]m9ation   
date1 ! director ( ! di/rict (fice ( !  
,adm9i/ration locat$ 9 ,pu]to ,rico %all
 submit directly to ,congress & !       
,adm9i/rator an annual report on !      
activities ( ! ,adm9i/ration 9 ,pu]to   
,rico4  7b7 ,coord9ation ,9 prep>+ ea*  
report describ$ 9 subsection 7a71 !     
director describ$ 9 su* subsection %all 
consult ) o!r ,f$]al ag5cies to collect 
data on grants1 programs1 & outrea*     
activities c>ri$ out by su* ag5cies t   

affect any ,pu]to ,rico bus9ess4  ,e    
,disa/] ,loan ,program ,expansion  #bea4
 ,am5dm5t to def9ition ( disa/] = #g7;b7
 loans  7a7 ,9 g5]al ,section #c7k77#b7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcb7k77#b77 is am5d$-- 7#a7 9          
subp>agraph 7,b71 by /rik+ & at ! end2  
7#b7 9 subp>agraph 7,c71 /rik+ ! p]iod &
 ins]t+ 2 &2 &  7#c7 by add+ at ! end ! 
foll[+3  7,d7 communicable diseases =   
:i* ! ,f$]al ,gov]nm5t issues a travel  
al]t or travel w>n+4  4  7b7            
,applicability ,! am5dm5t made by       
subsection 7a7 %all apply to a          
communicable disease--  7#a7 = :i* !    
,f$]al ,gov]nm5t issues a travel al]t or
 travel w>n+ be=e1 on1 or aft] ! date ( 
enactm5t ( ?is ,act2 &  7#b7 ! effects (
 :i* are exp]i5c$ on or aft] ! date (   
enactm5t ( ?is ,act4  ,f ,am5dm5t to !  
,inve/m5t ,company ,act ( #aidj  #bfa4  
,t]m9ation ( exemption = companies 9    
t]ritories ( ! ,unit$ ,/ates  7a7 ,9    
g5]al ,section #f7;a7 ( ! ,inve/m5t     
,company ,act ( #aidj 7#ae ,u4,s4,c4    

#hj;a-#f7;a77 is am5d$--  7#a7 by /rik+ 
p>agraph 7#a72 &  7#b7 by r$esignat+    
p>agraphs 7#b7 ?r\gh 7#e7 z p>agraphs   
7#a7 ?r\gh 7#d71 respectively4  7b7     
,effective date & safe h>bor  7#a7      
,effective date ,except z provid$ 9     
p>agraph 7#b71 ! am5dm5t made by        
subsection 7a7 %all take effect on !    
date ( enactm5t ( ?is ,act4  7#b7 ,safe 
h>bor ,) respect to a company t is      
exempt "u section #f7;a77#a7 ( !        
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#f7;a77#a771 z 9 effect 
on ! day be=e ! date ( enactm5t ( ?is   
,act1 ! am5dm5t made by subsection 7a7  
%all take effect on ! date t is #c ye>s 
aft] ! date ( enactm5t ( ?is ,act4  7#c7
 ,ext5sion ( safe h>bor ,! ,securities &
 ,ex*ange ,commission1 by rule &        
regulation ^u its own motion1 or by ord]
 ^u application1 may conditionally or   
unconditionally1 "u section #f7;c7 ( !  
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#f7;c771 fur!r delay !  
effective date = a company describ$ 9   

p>agraph 7#b7 to be n lat] ?an ! date t 
is #f ye>s aft] ! date ( enactm5t ( ?is 
,act if1 be=e ! end ( ! initial #c-ye>  
p]iod1 ! ,commission det]m9es t su* a   
rule1 regulation1 motion1 or ord] is    
necess>y or appropriate 9 ! public      
int]e/ & = ! protection ( inve/ors4     
,,iii ,economic /ati/ics  #cja4         
,def9ition ,9 ?is title1 ! t]m ,secret>y
 means ! ,secret>y ( ,comm]ce1 act+     
?r\gh ! ,director ( ! ,bureau ( !       
,c5sus4  #cjb4 ,inclusion ( ,pu]to ,rico
 9 ,c5sus surveys  7a7 ,/udy on         
inclusion 9 ,curr5t ,population ,survey 
,! ,secret>y %all /udy ! feasibility (  
includ+ ,pu]to ,rico 9 ! ,curr5t        
,population ,survey conduct$ by !       
,secret>y4  7b7 ,int]ag5cy work+ gr\p on
 improv+ data  7#a7 ,e/abli%m5t ,! ,*ief
 ,/ati/ician ( ! ,unit$ ,/ates %all     
e/abli% a te*nical int]ag5cy work+ gr\p 
to /udy ! mo/ effective approa* to      
improv+ ! quality & availability ( data 
ab\t or f ,pu]to ,rico = ! purpose (    
,f$]al /ati/ical programs4  7#b7 ,report

 ,n lat] ?an ,octob] #ca1 #bjah1 & on a 
qu>t]ly basis !reaft]1 ! te*nical       
int]ag5cy work+ gr\p e/abli%$ "u        
p>agraph 7#a7 %all submit a report on ! 
activities & f9d+s ( ! work+ gr\p to--  
7,a7 ! ,committee on ,f9ance ( ! ,s5ate2
 &  7,b7 ! ,committee on ,ways & ,means 
( ! ,h\se ( ,repres5tatives4  7c7       
,inclusion 9 o!r surveys & programs ( ! 
,bureau ( ! ,c5sus ,! ,secret>y %all    
conduct a pro( ( concept = includ+1 or  
exp&+ ! inclusion (1 ,pu]to ,rico 9 ea* 
( ! foll[+ surveys & programs conduct$  
by ! ,secret>y3  7#a7 ,! ,c5sus (       
,gov]nm5ts & ,relat$ ,annual ,programs4 
7#b7 ,! ,survey ( ,bus9ess ,own]s4  7#c7
 ,! ,build+ ,p]mits ,survey4  7#d7 ,!   
,qu>t]ly ,work=ce ,indicators1 d]iv$ f !
 ,longitud9al ,employ]-,h\sehold        
,dynamics ,program4  7#e7 ,! ,/ati/ics (
 ,u4,s4 ,bus9esses4  #cjc4 ,f$]al       
,/ati/ical ,rese>* ,data ,c5t]  7a7 ,9  
g5]al ,! ,secret>y %all e/abli% a       
facility1 to be kn[n z ! ,f$]al         
,/ati/ical ,rese>* ,data ,c5t]1 9 ,san  

,juan1 ,pu]to ,rico4  7b7 ,dual capacity
 ,! facility e/abli%$ "u subsection 7a7 
%all s]ve z bo?-- 7#a7 an (fice ( !     
,int]national ,trade ,managem5t         
,division ( ! ,bureau ( ! ,c5sus2 &     
7#b7 a rese>* data c5t] ( ! ,bureau ( ! 
,c5sus4  ,,iv ,(fsets  #dja4 ,prev5tion 
& ,public ,heal? ,fund ,section         
#djjb7;b7 ( ! ,pati5t ,protection &     
,af=dable ,c>e ,act 7#db ,u4,s4,c4      
#cjju-#aa7;b771 z am5d$ by section      
#ecaai ( ,public ,law #aae-abc1 is      
am5d$--  7#a7 9 p>agraph 7#c71 by /rik+ 
#ijj1jjj1jjj & ins]t+ #hda1jjj1jjj2     
7#b7 9 p>agraph 7#d71 by /rik+          
#ijj1jjj1jjj & ins]t+ #hdh1jjj1jjj2     
7#c7 by /rik+ p>agraphs 7#e7 ?r\gh 7#h72
  7#d7 by r$esignat+ p>agraph 7#i7 z    
p>agraph 7#g72 &  7#e7 by ins]t+ aft]   
p>agraph 7#d7 ! foll[+ new p>agraphs3   
7#e7 = fiscal ye> #bjbj1 #ijj1jjj1jjj2  
7#f7 = ea* fiscal ye> dur+ ! p]iod (    
fiscal ye>s #bjba ?r\gh #bjbg1          
#gjj1jjj1jjj2 &2  4