,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fgij  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #h1 #bjbj,mr4    
,%]man 7= himself & ,ms4 ,wat]s7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to prohibit ! en=cem5t ( c]ta9 
loan cov5ants dur+ ! ,,covid-#ai        
national em]g5cy1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,bus9ess ,borr[]s ,protection ,act4  #b4
 ,en=cem5t ( loan cov5ants  7a7 ,loans  
receiv$ "u ,,covid-#ai relief programs  
,any loan t a borr[] receives "u a      
,,covid-#ai relief program may n be tak5
 into acc\nt-- 7#a7 9 det]m9+ :e!r--    
7,a7 ! borr[] is 9 violation ( any loan 
cov5ant ( a cov]$ loan2 or  7,b7 a l5d] 
may accel]ate ! due date ( any cov]$    
loan agreem5t2 or  7#b7 9 calculat+ !   
debts or liabilities ( ! borr[] =       
purposes ( det]m9+ :e!r su* borr[] is 9 
con=mity ) any cov]$ loan agreem5t4  7b7
 ,loan cov5ants n en=ceable dur+        
,,covid-#ai national em]g5cy  7#a7 ,9   

g5]al ,a l5d] may n en=ce any loan      
cov5ant dur+ ! p]iod beg9n+ on ! date ( 
enactm5t ( ?is ,act & end+ on ! day t is
 #a ye> aft] ! t]m9ation ( ! national   
em]g5cy decl>$ by ! ,presid5t on ,m>*   
#ac1 #bjbj1 "u ! ,national ,em]g5cies   
,act 7#ej ,u4,s4,c4 #afja et seq47      
relat+ to ! ,,covid-#ai p&emic4  7#b7   
,rulemak+ ,n lat] ?an ! end ( ! #fj-;day
 p]iod beg9n+ on ! date ( enactm5t ( ?is
 ,act1 ! ,secret>y ( ! ,treasury %all   
issue su* regulations & guidance z may  
be necess>y to ensure t any l5d] :o     
complies ) ! requirem5ts describ$ 9     
p>agraph 7#a7 is n deem$ to be 9        
violation ( any law or regulation relat+
 to ! en=cem5t ( loan cov5ants4  7c7    
,tru/ee or p]son ) fiduci>y duty n      
liable  7#a7 ,9 g5]al ,no tru/ee or o!r 
p]son ) a fiduci>y duty to ! hold]s (   
any debt security %all be liable = any  
decision made n to en=ce a loan cov5ant 
relat$ to su* debt security4  7#b7      
,applicability ,p>agraph 7#a7 %all only 
apply dur+ ! p]iod beg9n+ on ,m>* #ab1  

#bjbj1 & end+ on ,m>* #ac1 #bjbb4  7d7  
,def9itions ,9 ?is ,act1 ! foll[+       
def9itions apply3 7#a7 ,cov]$ loan ,!   
t]m cov]$ loan means a loan ent]$ into  
on or be=e ! date ( ! enactm5t ( ?is    
,act4  7#b7 ,,covid-#ai relief program  
,! t]m ,,covid-#ai relief program means 
any program creat$ by-- 7,a7 !          
,coronavirus ,prep>$ness & ,response    
,supplem5tal ,appropriations ,act1 #bjbj
 7,public ,law #aaf-abc72  7,b7 !       
,families ,fir/ ,coronavirus ,response  
,act 7,public ,law #aaf-abg72  7,c7 !   
,,c>es ,act 7,public ,law #aaf-acf72 or 
7,d7 ! ,f$]al ,gov]nm5t or any ,/ate1   
local1 ,tribal1 or t]ritorial gov]nm5t =
 ! purpose ( r$uc+ ! f9ancial losses (  
bus9esses caus$ by ! spread (           
,,covid-#ai4  7#c7 ,loan cov5ant ,! t]m 
loan cov5ant means any provision 9 a    
cov]$ loan agreem5t t all[s or requires 
! accel]ation ( repaym5ts due "u any    
loan agreem5t or t r$uces ! availability
 ( funds "u a l9e ( cr$it-- 7,a7 due to 
any act or omission ( a borr[] or any   

entity relat$ to ! borr[]2 or  7,b7     
because ! total liabilities or curr5t   
liabilities ( a borr[] exce$-- 7i7 any  
b5*m>k2 or  7ii7 any p]c5tage ( ! assets
 ( ! borr[]1 rev5ues1 equity1 or any o!r
 b5*m>k4