,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fhib  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ae1 #bjbj,mrs4 
,beatty introduced the following bill2  
which was referred to the ,committee on 
,financial ,services  ,a ,,bill  ,to    
amend the ,,cares ,act to add           
requirements for the ,main ,street      
,lending ,program related to non-profit 
organizations1 small businesses1        
minority depository institutions1 and   
community development financial         
institutions1 and for other purposes4   
#a4 ,main ,street ,lending ,program     
requirements  7a7 ,in general ,section  
#djjc7;c77#c77;,d77ii7 of the ,,cares   
,act 7#ae ,u4,s4,c4                     
#ijdb7;c77#c77;,d77ii77 is amended--    
7#a7 by striking ,nothing in this       
subparagraph shall limit the discretion 
of the ,board of ,governors of the      
,federal ,reserve ,system to and        
inserting the following3  7,i7 ,in      
general ,the ,board of ,governors of the
 ,federal ,reserve ,system shall  2 and 

7#b7 by adding at the end the following3
  7,,ii7 ,requirements ,in carrying out 
subclause 7,i71 the ,board of ,governors
 of the ,federal ,reserve ,system-- 7aa7
 shall make non-profit organizations and
 institutions of higher education 7as   
such term is defined in section #aja7;a7
 of the ,higher ,education ,act of #aife
 7#bj ,u4,s4,c4 #ajja7;a777 eligible for
 any program or facility established    
under such subclause2 and  7bb7 shall-- 
7,,aa7 create a low-cost loan option    
tailored to the unique needs of         
non-profit organizations1 including the 
ability to defer payments without       
capitalization of interest2 7,,bb7      
solely for non-profit organizations that
 predominantly serve low-income         
communities 7as determined by the ,board
 of ,governors71 have the loans forgiven
 by the ,secretary of the ,treasury for 
a similar purpose to maintain payroll   
and operations provided under the       
,paycheck ,protection ,program1         
notwithstanding subsection 7d77#c72 and 

7,,cc7 make any organization that meets 
the requirements of section #eja7;c77#d7
 of the ,internal ,revenue ,code of     
#aihf eligible for any facility1 but    
only if such organization has not made  
and will not make a contribution1       
expenditure1 independent expenditure1 or
 electioneering communication 7within   
the meanings of such terms under the    
,federal ,election ,campaign ,act of    
#aiga71 and has not undertaken and will 
not undertake similar campaign finance  
activities in ,state and local          
elections2  4  7b7 ,deadline ,not later 
than the end of the #e-;day period      
beginning on the date of enactment of   
this ,act1 the ,board of ,governors of  
the ,federal ,reserve ,system shall     
issue such rules or take such other     
actions as may be necessary to implement
 the requirements made by the amendments
 made by this section4  #b4 ,options for
 small businesses and non-profits under 
the ,main ,street ,lending ,program  7a7
 ,in general ,section                   

#djjc7;c77#c77;,d77ii77,,ii7 of the     
,,cares ,act 7#ae ,u4,s4,c4             
#ijdb7;c77#c77;,d77ii77,,ii771 as added 
by section #a1 if further amended by    
adding at the end the following3  7cc7  
shall provide at least one low-cost loan
 option that small businesses1 small    
non-profits1 and small institutions of  
higher education 7as such term is       
defined in section #aja7;a7 of the      
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajja7;a777 are eligible for  
that does not have a minimum loan size  
and includes the ability to defer       
payments without capitalization of      
interest1 and1 solely for small         
non-profit organizations that           
predominantly serve low-income          
communities1 as determined by the       
,federal ,reserve1 have the loans       
forgiven by the ,department of the      
,treasury for a similar purpose to      
maintain payroll and operations provided
 under the ,paycheck ,protection        
,program1 notwithstanding section       

#djjc7;d77#c7 of the ,,cares ,act2  4   
7b7 ,deadline ,not later than the end of
 the #e-;day period beginning on the    
date of enactment of this ,act1 the     
,board of ,governors of the ,federal    
,reserve ,system shall issue such rules 
or take such other actions as may be    
necessary to implement the requirements 
made by the amendments made by this     
section4  #c4 ,treatment of ,c,d,f,is   
under the ,main ,street ,lending        
,program  7a7 ,in general ,section      
#djjc7;c77#c77;,d77ii77,,ii7 of the     
,,cares ,act 7#ae ,u4,s4,c4             
#ijdb7;c77#c77;,d77ii77,,ii771 as       
amended by section #b1 is further       
amended by adding at the end the        
following3  7dd7 shall authorize        
community development financial         
institutions to be eligible lenders     
under such program or facility2 and     
7ee7 shall provide resources1 webinars1 
and technical assistance 7using funds   
from such program or facility7 to       
minority depository institutions and    

community development financial         
institutions that wish to be eligible   
lenders under such program or facility4 
4  7b7 ,deadline ,not later than the end
 of the #e-;day period beginning on the 
date of enactment of this ,act1 the     
,board of ,governors of the ,federal    
,reserve ,system shall issue such rules 
or take such other actions as may be    
necessary to implement the requirements 
made by the amendments made by this     
section4