,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #gebb  ,,in ,,the ,,house ,,of  
,,representatives  ,july #i1 #bjbj,mr4  
,gallego introduced the following bill2 
which was referred to the ,committee on 
,small ,business  ,a ,,bill  ,to        
establish the ,small ,business ,economic
 ,assistance ,program4  #a4 ,small      
,business ,economic ,assistance ,program
  7a7 ,establishment ,the ,secretary of 
the ,treasury shall establish the ,small
 ,business ,economic ,assistance        
,program to provide financial assistance
 to each covered entity4  7b7           
,assistance ,subject to subsection 7d71 
the ,secretary shall provide each       
covered entity a financial assistance   
payment equal to #e1jjj per employee of 
that covered entity4 ,such assistance   
may not be treated as taxable income1   
and expenses of a covered entity that   
arise from such assistance shall be     
eligible for any otherwise applicable   
tax deduction4  7c7 ,purpose  7#a7 ,a   
covered entity that receives assistance 

under subsection 7b7 shall use at least 
#hj percent of the assistance under     
subsection 7b7 for employee             
compensation1 and the balance for       
business costs 7including rent1 mortgage
 payments1 or utility payments74  7#b7  
,the ,secretary shall treat any portion 
of a payment of assistance under        
subsection 7b7 not used pursuant to     
paragraph 7#a7 as a loan-- 7,a7 subject 
to an interest rate the ,secretary      
determines to be low2 and  7,b7 that the
 covered entity shall repay not later   
than one year after the ,secretary makes
 such payment4  7d7 ,opt-,out ,a covered
 entity may elect in writing not to     
receive financial assistance under      
subsection 7b74  7e7 ,distribution ,the 
,secretary shall distribute payments    
under subsection 7b7 based on           
information in the ,electronic ,federal 
,tax ,payment ,system4  7f7 ,fraud ,all 
documents relating to the program under 
this section shall be subject to section
 #ajja of title #ah1 ,united ,states    

,code4  7g7 ,covered entity defined ,in 
this section1 the term covered entity   
means an entity that-- 7#a7 is          
categorized as a sole proprietorship1   
partnership company1 limited liability  
company1 ,c corporation1 ,s corporation1
 ,b corporation1 or #eja7;c7            
organization2  7#b7 has more than one   
but fewer than #ej employees2  7#c7 has 
any type of income subject to ,federal  
income tax2  7#d7 paid employment or    
self-employment tax during calendar year
 #bjai2  7#e7 did not receive a payment 
under the ,paycheck ,protection         
,program2  7#f7 was established before  
,january #a1 #bjbj2 and  7#g7 has not   
filed for chapter #g bankruptcy4