,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fgeh ,,in ,,the ,,house ,,of ,,representatives ,may #h1 #bjbj,ms4 ,garcia of ,texas introduced the following bill2 which was referred to the ,committee on ,small ,business ,a ,,bill ,to establish requirements for funds appropriated to carry out the paycheck protection program1 to require reporting on the use of such funds1 and for other purposes4 #a4 ,set aside for minority depository institutions and community development financial institutions under the ,paycheck ,protection ,program and ,health ,care ,enhancement ,act ,with respect to amounts appropriated under section #aja7;a7 of division ,a of the ,paycheck ,protection ,program and ,health ,care ,enhancement ,act 7,public ,law #aaf-aci7 for the cost of guaranteed loans made under section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf771 #aj1jjj1jjj1jjj of such amounts not otherwise obligated or expended shall be set aside for loan guarantees made by minority depository institutions 7as defined in section #cjh of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #adfc note77 and community development financial institutions 7as defined in section #ajc of the ,riegle ,community ,development and ,regulatory ,improvement ,act of #aiid 7#ab ,u4,s4,c4 #dgjb774 #b4 ,set aside for certain lenders and reporting requirements for the paycheck protection program 7a7 ,set aside for certain lenders 7#a7 ,in general ,on the date on which all amounts appropriated by the ,paycheck ,protection ,program and ,health ,care ,enhancement ,act 7,public ,law #aaf-aci7 under the heading ,small ,business ,administration--,business ,loans ,program ,account1 ,,cares ,act are expended1 subparagraph 7,s7 of section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77,s77 is amended to read as follows3 7,s7 ,set aside for certain lender ,the ,administrator shall provide for the cost of guaranteed covered loans made under this paragraph-- 7i7 a set aside of #bj percent of each amount appropriated pursuant to this to carry out this paragraph for loans made by community financial institutions 7as defined in subparagraph 7,a77xi7 of such section71 insured depository institutions 7as defined in subparagraph 7,a77i7 of such section71 and credit unions 7as defined in subparagraph 7,a77xii7 of such section71 with consolidated assets of less than #aj1jjj1jjj1jjj2 7ii7 a set aside of #aj percent of each amount appropriated pursuant to this to carry out this paragraph for loans made by insured depository institutions 7as defined in subparagraph 7,a77i7 of such section7 and credit unions 7as defined in subparagraph 7,a77xii7 of such section7 with consolidated assets of not less than #aj1jjj1jjj1jjj and less than #ej1jjj1jjj1jjj2 and 7iii7 a set aside equal the greater of #aj1jjj1jjj1jjj or #e percent of each amount appropriated pursuant to this to carry out this paragraph for loans made by minority depository institutions 7as defined in section #cjh of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #adfc note77 and community development financial institutions 7as defined in section #ajc of the ,riegle ,community ,development and ,regulatory ,improvement ,act of #aiid 7#ab ,u4,s4,c4 #dgjb774 4 7#b7 ,notification ,the ,administrator of the ,small ,business ,administration shall notify the ,law ,revision ,counsel of the ,house of ,representatives of the date on which the amounts described under paragraph 7#a7 are expended so that the ,law ,revision ,counsel may execute the amendments made by paragraph 7#a74 7b7 ,processing ,section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77 is amended by adding at the end the following new subparagraph3 7,t7 ,application processing 7i7 ,in general ,the ,administrator and the ,secretary of the ,treasury shall1 at least twice weekly1 provide separate #h-;hour period during which the ,administrator and the ,secretary shall process the following applications under this paragraph3 7,i7 ,applications compiled by lenders with consolidated assets of less than #a1jjj1jjj1jjj that are authorized to make loans under this paragraph4 7,,ii7 ,applications compiled by lenders from eligible recipients that have #bj or fewer employees for a principal amount of a covered loan of less than #bjj1jjj4 7ii7 ,requirements ,the ,administrator and the ,secretary shall1 at least #gb hours in advance1 provide notice of when an #h-;hour period described in clause 7i7 will begin4 ,such #h-;hour period may not be between #ab a4m4 and #h a4m4 4 7c7 ,reports 7#a7 ,in general ,during the period beginning on the date of the enactment of an ,act appropriating amounts under the heading ,small ,business ,administration--,business ,loans ,program ,account1 ,,cares ,act that is on or after the date of the enactment of this ,act1 and ending on the date on which such amounts are expended1 the ,administrator of the ,small ,business ,administrator and the ,secretary of the ,treasury shall make publicly available-- 7,a7 on a daily basis1 the amount of funds under such heading that have not been obligated or expended2 and 7,b7 on a weekly basis1 the amount of funds under such heading made available to lenders1 disaggregated by the type of lender 7including minority depository institutions 7as defined in section #cjh of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #adfc note77 and community development financial institutions 7as defined in section #ajc of the ,riegle ,community ,development and ,regulatory ,improvement ,act of #aiid 7#ab ,u4,s4,c4 #dgjb777 and the total consolidated assets of each such lender4 7#b7 ,prior expenditures ,not later than #g days after the date of the enactment of this ,act1 the ,administrator of the ,small ,business ,administrator and the ,secretary of the ,treasury shall make publicly available a report on funds made available under the heading ,small ,business ,administration--,business ,loans ,program ,account1 ,,cares ,act to lenders1 disaggregated by the type of lender 7including minority depository institutions 7as defined in section #cjh of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #adfc note77 and community development financial institutions 7as defined in section #ajc of the ,riegle ,community ,development and ,regulatory ,improvement ,act of #aiid 7#ab ,u4,s4,c4 #dgjb777 and the total consolidated assets of each such lender4