,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #gefb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #i1 #bjbj,mr4 ,rose ( ,new ,york 7= himself1 ,mr4 ,fitzpatrick1 ,mr4 ,got!im]1 ,mr4 ,cisn]os1 ,ms4 ,cl>ke ( ,new ,york1 ,mrs4 ,davis ( ,cali=nia1 ,ms4 ,norton1 ,mr4 ,gonzalez ( ,texas1 ,mr4 ,mi*ael ,f4 ,doyle ( ,p5nsylvania1 ,ms4 ,scanlon1 ,mr4 ,veasey1 ,mr4 ,rask91 ,ms4 ,s*ak[sky1 & ,ms4 ,sewell ( ,alabama7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committee on ,small ,bus9ess1 = 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 am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = y\? sports1 to am5d ! ,small ,bus9ess ,act to e/abli% a loan program = y\? sports provid]s1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,,covid-#ai ,y\? ,sports & ,heal?y ,work+ ,families ,relief ,act4 #b4 ,modification ( *ild & dep5d5t c>e tax cr$it 7a7 ,all[ance ( exp5ses = y\? physical activities ,section #ba7;b77#b77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ & at ! end ( clause 7i71 by /rik+ ! p]iod at ! end ( clause 7ii7 & ins]t+ 1 &1 & by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 exp5ses = y\? physical activities 7)9 ! mean+ ( section #bbc7;d77#e774 4 7b7 ,exception to camp rule ,section #ba7;b77#b77;,a7 ( su* ,code 7z am5d$ by subsection 7a77 is am5d$ by /rik+ ,su* t]m & ins]t+ ,except z provid$ by clause 7iii71 su* t]m4 7c7 ,doll> limitations ,section #bba7;c7 ( su* ,code is am5d$ to read z foll[s3 7c7 ,doll> limit on am\nt cr$itable ,! am\nt ( ! employm5t-relat$ exp5ses incurr$ dur+ any taxable ye> :i* may be tak5 into acc\nt "u subsection 7a7 %all n exce$-- 7#a7 if !re is #a qualify+ individual ) respect to ! taxpay] = su* taxable ye>1 ! sum (-- 7,a7 #c1jjj ( s mu* ( employm5t-relat$ exp5ses z are describ$ 9 clauses 7i7 & 7ii7 ( subsection 7b77#b77;,a71 & 7,b7 #f1jjj ( s mu* ( employm5t-relat$ exp5ses z are describ$ 9 clause 7iii7 ( subsection 7b77#b77;,a71 or 7#b7 if !re are #b or m qualify+ individuals ) respect to ! taxpay] = su* taxable ye>1 ! sum (-- 7,a7 #f1jjj ( s mu* ( employm5t-relat$ exp5ses z are describ$ 9 clauses 7i7 & 7ii7 ( subsection 7b77#b77;,a71 & 7,b7 #ab1jjj ( s mu* ( employm5t-relat$ exp5ses z are describ$ 9 clause 7iii7 ( subsection 7b77#b77;,a74 ,! am\nts det]m9$ "u subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#a7 or 7#b7 7:i*ev] is applicable7 %all ea* be r$uc$ by ! aggregate am\nt = ! same categories ( exp5ses excludable f gross income "u section #abi = ! taxable ye>4 4 7d7 ,refundable ,section #ba7;e7 ( su* ,code is am5d$ by add+ at ! end ! foll[+3 7#aa7 ,cr$it refundable = #bjbj ,9 ! case ( a taxable ye> beg9n+ 9 cal5d> ye> #bjbj1 ! cr$it all[$ "u subsection 7a7 7det]m9$ )\t reg>d to ?is p>agraph & section #bf7;a77 %all be treat$ z a cr$it all[able "u subp>t ,c 7& n all[$ "u subsection 7a774 4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #c4 ,increase 9 doll> am\nt ( election = dep5d5t c>e flexible sp5d+ arrangem5ts 7a7 ,9 g5]al ,section #abe ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsections 7k7 & 7l7 z subsections 7l7 & 7m7 & ins]t+ aft] subsection 7j7 ! foll[+3 7k7 ,limitation on dep5d5t c>e flexible sp5d+ arrangem5ts 7#a7 ,9 g5]al ,= purposes ( ?is section1 if a b5efit is provid$ "u a cafet]ia plan ?r\gh employ] contributions to a dep5d5t c>e flexible sp5d+ arrangem5t1 su* b5efit %all n be treat$ z a qualifi$ b5efit unless ! cafet]ia plan provides t an employee may n elect = any taxable ye> to h sal>y r$uction contributions 9 excess ( #aj1jjj made to su* arrangem5t = ea* dep5d5t "u su* arrangem5t4 7#b7 ,s+le p>5t ,9 ! case t ! employee is an individual :o is n m>ri$ z ( ! beg9n+ ( ! taxable ye> = :i* ! employee elects to p>ticipate 9 ! arrangem5t1 p>agraph 7#a7 %all be appli$ by sub/itut+ #ab1jjj = #aj1jjj4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #d4 ,y\? & family physical activities 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #bac7;d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ or at ! end ( subp>agraph 7,c71 by /rik+ ! p]iod at ! end ( subp>agraph 7,d7 & ins]t+ 1 or1 & by ins]t+ aft] subp>agraph 7,d7 ! foll[+ new subp>agraph3 7,e7 = qualifi$ sports & fitness exp5ses4 4 7b7 ,qualifi$ sports & fitness exp5ses ,subsection 7d7 ( section #bac ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ab7 ,qualifi$ sports & fitness exp5ses 7,a7 ,9 g5]al ,! t]m qualifi$ sports & fitness exp5ses means am\nts paid exclusively = ! sole purpose ( p>ticipat+ 9 a physical activity includ+-- 7i7 = memb]%ip at a fitness facility1 7ii7 = p>ticipation or in/ruction 9 physical ex]cise or physical activity1 or 7iii7 = equipm5t us$ 9 a program 7includ+ a self-direct$ program7 ( physical ex]cise or physical activity4 7,b7 ,ov]all doll> limitation ,! aggregate am\nt treat$ z qualifi$ sports & fitness exp5ses ) respect to any taxpay] = any taxable ye> %all n exce$ #a1jjj 7#b1jjj 9 ! case ( a jo9t return or a head ( h\sehold 7z def9$ 9 section #b7;b7774 7,c7 ,fitness facility ,= purposes ( subp>agraph 7,a77i71 ! t]m fitness facility means a facility-- 7i7 :i* provides in/ruction 9 a program ( physical ex]cise1 (f]s facilities = ! pres]vation1 ma9t5ance1 enc\ragem5t1 or developm5t ( physical fitness1 or s]ves z ! site ( su* a program ( a ,/ate or local gov]nm5t1 7ii7 :i* is n a private club own$ & op]at$ by its memb]s1 7iii7 :i* does n (f] golf1 hunt+1 sail+1 or rid+ facilities1 7iv7 ! heal? or fitness compon5t ( :i* is n incid5tal to its ov]all function & purpose1 & 7v7 :i* is fully compliant ) ! ,/ate ( jurisdiction & ,f$]al anti-discrim9ation laws4 7,d7 ,treatm5t ( ex]cise videos1 etc ,videos1 books1 & simil> mat]ials %all be treat$ z describ$ 9 subp>agraph 7,a77ii7 if ! cont5t ( su* mat]ials con/itutes in/ruction 9 a program ( physical ex]cise or physical activity4 7,e7 ,limitations relat$ to sports & fitness equipm5t ,am\nts paid = equipm5t describ$ 9 subp>agraph 7,a77iii7 %all be treat$ z qualifi$ sports & fitness exp5ses only-- 7i7 if su* equipm5t is utiliz$ exclusively = p>ticipation 9 fitness1 ex]cise1 sport1 or o!r physical activity1 7ii7 9 ! case ( am\nts paid = app>el or footwe>1 if su* app>el or footwe> is ( a type t is necess>y =1 & is n us$ = any purpose o!r ?an1 a specific physical activity1 & 7iii7 9 ! case ( am\nts paid = any s+le item ( sports equipm5t 7o!r ?an ex]cise equipm5t71 to ! ext5t su* am\nts d n exce$ #bej4 7,f7 ,programs :i* include compon5ts o!r ?an physical ex]cise & physical activity ,rules simil> to ! rules ( p>agraph 7#f7 %all apply 9 ! case ( any program t includes physical ex]cise or physical activity & also o!r compon5ts4 ,= purposes ( ! prec$+ s5t5ce1 travel & accommodations %all be treat$ z a sep>ate compon5t4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 #e4 ,y\? sport provid]s loan program 7a7 ,def9itions ,9 ?is section1 ! t]ms ,adm9i/ration & ,adm9i/rator mean ! ,small ,bus9ess ,adm9i/ration & ! ,adm9i/rator !re(1 respectively4 7b7 ,9 g5]al ,section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 is am5d$-- 7#a7 9 p>agraph 7#b7-- 7,a7 9 subp>agraph 7,a71 9 ! matt] prec$+ clause 7i71 by /rik+ & 7,f7 & ins]t+ 7,f71 & 7,g72 & 7,b7 by add+ at ! end ! foll[+3 7,g7 ,p>ticipation 9 ! y\? sports provid] loan program ,9 an agreem5t to p>ticipate 9 a loan on a def]r$ basis "u p>agraph 7#cg71 ! p>ticipation by ! ,adm9i/ration %all be #ajj p]c5t4 2 & 7#b7 by add+ at ! end ! foll[+3 7#cg7 ,y\? sports provid] loan program 7,a7 ,def9itions ,9 ?is p>agraph-- 7i7 ! t]ms appropriate ,f$]al bank+ ag5cy & insur$ depository in/itution h ! mean+s giv5 ^? t]ms 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac72 7ii7 ! t]m cov]$ loan means a loan made "u ?is p>agraph dur+ ! cov]$ p]iod2 7iii7 ! t]m cov]$ p]iod means ! p]iod beg9n+ on ,m>* #a1 #bjbj1 & end+ on ,decemb] #ca1 #bjbj2 7iv7 ! t]m eligible recipi5t means an individual or entity t is a y\? sports provid] & is eligible to receive a cov]$ loan2 7v7 ! t]m eligible self-employ$ individual has ! mean+ giv5 ! t]m 9 section #gjjb7;b7 ( ! ,families ,fir/ ,coronavirus ,response ,act 7,public ,law #aaf-abg72 7vi7 ! t]m high priority area means a geographic area = :i* an eligible recipi5t is a small bus9ess conc]n own$ & controll$ by socially & economically disadvantag$ individuals1 a small bus9ess conc]n own$ & controll$ by wom51 or a small bus9ess conc]n own$ & controll$ by vet]ans-- 7,i7 work+ 9 or attract+ y\? p>ticipants f l[ income1 und]s]v$1 or rural communities 7bas$ on ,,zip code72 7,,ii7 work+ ) populations disproportionately affect$ by ,,covid-#ai 7bas$ on ,,zip code72 & 7,,iii7 work+ ) populations ( y\? t already h l[ access to quality sports programs2 7vii7 ! t]m insur$ cr$it union has ! mean+ giv5 ! t]m 9 section #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #ageb72 7viii7 ! t]m nonpr(it organization means an organization t is describ$ 9 section #eja7;c77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf & t is exempt f taxation "u section #eja7;a7 ( su* ,code2 7ix7 ! t]m op]at+ losses means regul> op]at+ exp5ses accru$ s9ce ,janu>y #a1 #bjbj1 ?r\gh ! date ( ! loan application s9ce ,janu>y #a1 #bjbj1 m9us rev5ue g5]at$ ov] t p]iod2 7x7 ! t]m regul> op]at+ exp5ses-- 7,i7 means exp5ses incurr$ 9 ! regul> op]ations ( bus9ess & includes-- 7aa7 payroll co/s 7z def9$ 9 p>agraph 7#cf772 7bb7 o!r exp5ses relat+ to work=ce support1 includ+ #ajii-,,misc contractors & volunte]s1 su* z contractor fees = s]vices1 tra9+1 backgr\nd scre5+s1 or insurance2 7cc7 regul> or necess>y facilities ma9t5ance & upkeep2 7dd7 supplies or mat]ials t due to _! nature are unusable at a future date & ma9ta9 only a nom9al value2 7ee7 ov]head exp5ses = ev5ts or programs cancell$ due to ,,covid-#ai t are n reimbursable ?r\gh insurance or o!r means1 su* z nonreimbursable deposits & cancellation fees2 7ff7 r5t 7includ+ r5t "u a lease agreem5t72 7gg7 paym5ts ( int]e/ or m&atory pr9cipal paym5t on any mortgage obligation 7:i* %all n include any prepaym5t ( pr9cipal or int]e/ on a mortgage obligation72 7hh7 utilities2 7ii7 int]e/ or m&atory pr9cipal paym5t on any o!r debt obligations t 7 incurr$ be=e ! cov]$ p]iod 7:i* %all n include any prepaym5t ( pr9cipal or int]e/ on a debt obligation72 7jj7 m>ket+2 7kk7 insurance2 or 7ll7 any o!r op]ational exp5ses1 includ+ program fee refunds1 co/s = ref]ees or sports (ficials1 s(tw>e & te*nology1 equipm5t1 & supplies or mat]ials t due to _! nature are unusable at a future date & ma9ta9 only a nom9al value2 & 7,,ii7 does n include-- 7aa7 exp5ses p]mitt$ to be reimburs$ "u contract or o!rwise reimbursable2 7bb7 exp5ses reimbursable "u curr5tly held insurance2 or 7cc7 any comp5sation ( an employee ^: pr9cipal place ( resid5ce is outside ( ! ,unit$ ,/ates2 7xi7 ! t]m y\? sports provid]-- 7,i7 means any entity or organization t has a prim>y purpose to provide direct sports programm+ or sports ev5ts to y\? #ah & "u1 includ+-- 7aa7 sports-bas$ y\? developm5t organizations2 7bb7 int]s*ola/ic sports programs2 7cc7 y\? sports provid]s su* z coa*es1 tra9]s1 & in/ructors2 & 7dd7 y\? sport league1 camp1 or ev5t provid]s2 & 7xii7 ! t]m vet]ans organization means an organization t is describ$ 9 section #eja7;c77#ai7 ( ! ,int]nal ,rev5ue ,code t is exempt f taxation "u section #eja7;a7 ( su* code4 7,b7 ,cov]$ loans 7i7 ,y\? sports provid] loans ,except z o!rwise provid$ 9 ?is p>agraph1 ! ,adm9i/rator may gu>antee cov]$ loans "u ! same t]ms1 conditions1 & processes z a loan made "u ?is subsection4 7ii7 ,delegat$ au?ority ,= purposes ( mak+ cov]$ loans "u ?is p>agraph1 a l5d] approv$ to make loans "u ?is subsection %all be deem$ to h be5 delegat$ au?ority by ! ,adm9i/rator to make & approve cov]$ loans1 subject to ! provisions ( ?is p>agraph4 7iii7 ,additional l5d]s ,! au?ority to make loans "u ?is p>agraph %all be ext5d$ to additional l5d]s det]m9$ by ! ,adm9i/rator & ! ,secret>y ( ! ,treasury to h ! necess>y qualifications to process1 close1 disburse1 & s]vice loans made ) ! gu>antee ( ! ,adm9i/ration4 7iv7 ,ref9ance ,a loan made "u subsection 7b77#b7 dur+ ! p]iod beg9n+ on ,janu>y #ca1 #bjbj1 & end+ on ! date on :i* cov]$ loans are made available may be ref9anc$ z "p ( a cov]$ loan4 7v7 ,nonrec\rse ,not)/&+ ! waiv] ( ! p]sonal gu>antee requirem5t or collat]al "u subp>agraph 7,j71 ! ,adm9i/rator %all h no rec\rse aga9/ any individual %>ehold]1 memb]1 or p>tn] ( an eligible recipi5t ( a cov]$ loan = nonpaym5t ( any cov]$ loan1 except to ! ext5t t su* %>ehold]1 memb]1 or p>tn] uses ! cov]$ loan proce$s = a purpose n au?oriz$ "u clause 7ii74 7,c7 ,regi/ration ( loans ,n lat] ?an #ae days aft] ! date on :i* a loan is made "u ?is p>agraph1 ! ,adm9i/ration %all regi/] ! loan us+ ! ,,t9 7z def9$ 9 section #ggja ( ! ,int]nal ,rev5ue ,code ( #aihf7 assign$ to ! borr[]4 7,d7 ,eligibility = c]ta9 small bus9esses & organizations 7i7 ,9 g5]al ,dur+ ! cov]$ p]iod1 any y\? sports provid] bus9ess conc]n1 nonpr(it organization1 vet]ans organization1 or ,tribal bus9ess conc]n describ$ 9 section #ca7;b77#b77;,c7 %all be eligible to receive a cov]$ loan if ! y\? sports provid] conc]n or organization employs n m ?an #ejj full-"t employees4 ,an eligible recipi5t apply+ = a cov]$ loan %all make a good fai? c]tification-- 7,i7 t ! unc]ta9ty ( curr5t economic conditions makes necess>y ! loan reque/ to support ! ongo+ op]ations ( ! eligible recipi5t2 7,,ii7 t ! eligible recipi5t provides direct sports programm+ or sports ev5ts to y\? #ah & "u2 7,,iii7 t ! eligible recipi5t does n h an application p5d+ = a loan "u ?is subsection = ! same purpose & duplicative ( am\nts appli$ = or receiv$ "u a cov]$ loan2 & 7,,iv7 dur+ ! p]iod beg9n+ on ,febru>y #ae1 #bjbj1 & end+ on ,decemb] #ca1 #bjbj1 t ! eligible recipi5t has n receiv$ am\nts "u ?is subsection = ! same purpose t :5 add$ to ! appli$ = loan am\nt "u ?is program w exce$ #b million4 7ii7 ,inclusion ( sole proprietors1 indep5d5t contractors1 & eligible self-employ$ individuals 7,i7 ,9 g5]al ,dur+ ! cov]$ p]iod1 individuals :o op]ate "u a sole proprietor%ip or z an indep5d5t contractor & eligible self-employ$ individuals %all be eligible to receive a cov]$ loan4 7,,ii7 ,docum5tation ,an eligible self-employ$ individual1 indep5d5t contractor1 or sole proprietor%ip seek+ a cov]$ loan %all submit su* docum5tation z is necess>y to e/abli% su* individual z eligible1 includ+ payroll tax fil+s report$ to ! ,int]nal ,rev5ue ,s]vice1 ,=ms #ajii-,,misc1 & income & exp5ses f ! sole proprietor%ip1 z det]m9$ by ! ,adm9i/rator & ! ,secret>y4 7iii7 ,payroll protection program eligibility ,no y\? sports provid] t receiv$ a cov]$ loan "u p>agraph 7#cf7 %all be deem$ ineligible = a cov]$ loan "u ?is p>agraph4 7iv7 ,employee ,= purposes ( det]m9+ :e!r a y\? sports provid] bus9ess conc]n1 nonpr(it organization1 vet]ans organization1 or ,tribal bus9ess conc]n describ$ 9 section #ca7;b77#b77;,c7 employs n m ?an #ejj employees "u clause 7i77,i71 ! t]m employee includes individuals employ$ on a full-"t basis4 7v7 ,affiliation ,! provisions applicable to affiliations "u section #aba4ajc ( title #ac1 ,code ( ,f$]al ,regulations1 or any successor !reto1 %all n apply ) respect to a nonpr(it organization & a vet]ans organization 9 ! same mann] z ) respect to a small bus9ess conc]n4 7,e7 ,maximum loan am\nt 7i7 ,allocation ,dur+ ! cov]$ p]iod1 ) respect to a cov]$ loan1 ! maximum loan am\nt %all n exce$ #b1jjj1jjj & be ! great] (-- 7,i7 gross receipts 9 #bjai2 or 7,,ii7 #he p]c5t ( regul> op]at+ exp5ses accru$ s9ce ,janu>y #a1 #bjbj1 m9us rev5ue g5]at$ ov] t p]iod4 7ii7 ,disbursem5t ,priority consid]ation 9 ! loan disbursem5t %all be giv5 to nonpr(its repres5t+ y\? sports provid]s s]v+ high priority areas4 ,?is consid]ation may include designat+ a specific am\nt ( ! loan fund+ allocat$ to be us$ exclusively = nonpr(it provid]s s]v+ high priority areas4 7,f7 ,all[able uses ( cov]$ loans ,dur+ ! cov]$ p]iod1 an eligible recipi5t may use ! proce$s ( ! cov]$ loan = regul> op]at+ exp5ses4 7,g7 ,loan =giv5ess 7i7 7,i7 ,=giv5ess ,an eligible recipi5t %all be eligible = =giv5ess ( indebt$ness on a cov]$ loan 9 an am\nt equal to p]c5tage =giv5ess multipli$ by ! loan am\nt4 7,,ii7 ,eligible exp5ses ,up to #ej p]c5t ( =giv5ess %all be grant$ = use = ! eligible exp5ses enum]at$ above4 7,,iii7 ,additional =giv5ess ,additional =giv5ess ( ! rema9+ #ej p]c5t %all be prorat$ bas$ on ! numb] ( y\? p>ticipants 9 ! program p>ticipat+ 9 "s capacity 7i4e4 virtual7 by ,decemb] #bjba 7z comp>$ to p>ticipation rates ov] a comp>able p]iod 9 #bjai74 ,crit]ia %all be develop$ to def9e ?is /&>d & take into acc\nt factors t w\ld limit or r$uce p>ticipation1 su* z cont9u+ ,,covid-#ai conc]ns4 7,,iv7 ,treatm5t ( am\nts =giv5 7aa7 ,9 g5]al ,am\nts :i* h be5 =giv5 "u ?is section %all be consid]$ cancell$ indebt$ness by a l5d] au?oriz$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a774 7bb7 ,pur*ase ( gu>antees ,= purposes ( ! pur*ase ( ! gu>antee = a cov]$ loan by ! ,adm9i/rator1 am\nts :i* are =giv5 "u ?is section %all be treat$ 9 accordance ) ! proc$ures t are o!rwise applicable to a loan gu>ante$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a774 7cc7 ,remittance ,n lat] ?an #ij days aft] ! date on :i* ! am\nt ( =giv5ess "u ?is section is det]m9$1 ! ,adm9i/rator %all remit to ! l5d] an am\nt equal to ! am\nt ( =giv5ess1 plus any int]e/ accru$ ?r\gh ! date ( paym5t4 4 7c7 ,application ,an eligible recipi5t seek+ loan =giv5ess "u ?is section %all submit to ! l5d] t is s]vic+ ! cov]$ loan an application1 :i* %all include-- 7#a7 docum5tation v]ify+ y\? "u ! age ( #ah p>ticipation numb]s dur+ ! =giv5ess calculation p]iods2 7#b7 docum5tation %[+ exp5ditures ( ! cov]$ loan on all[$ uses2 7#c7 a c]tification f a repres5tative ( ! eligible recipi5t au?oriz$ to make su* c]tifications t-- 7,a7 ! docum5tation pres5t$ is true & correct2 & 7,b7 ! am\nt = :i* =giv5ess is reque/$ 0 us$ to provide sports program+ & sports ev5ts = y\? "u ! age ( #ah2 & 7#d7 any o!r docum5tation ! ,adm9i/rator det]m9es necess>y4 7d7 ,prohibition on =giv5ess )\t docum5tation ,no eligible recipi5t %all receive =giv5ess "u ?is section )\t submitt+1 to ! l5d] t is s]vic+ ! cov]$ loan1 ! docum5tation requir$ "u subsection 7f74 7e7 ,decision ,n lat] ?an #fj days aft] ! date on :i* a l5d] receives an application = loan =giv5ess "u ?is section f an eligible recipi5t1 ! l5d] %all issue a decision on ! application4 7f7 ,hold h>mless ,if a l5d] has receiv$ ! docum5tation requir$ "u ?is section f an eligible recipi5t atte/+ t ! eligible recipi5t has accurately v]ifi$ ! paym5ts = payroll co/s1 paym5ts on cov]$ mortgage obligations1 paym5ts on cov]$ lease obligations1 or cov]$ utility paym5ts dur+ cov]$ p]iod-- 7#a7 an en=cem5t action may n be tak5 aga9/ ! l5d] "u section #dg7;e7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fegt7e77 relat+ to loan =giv5ess = ! paym5ts = payroll co/s1 paym5ts on cov]$ mortgage obligations1 paym5ts on cov]$ lease obligations1 or cov]$ utility paym5ts1 z ! case may be2 & 7#b7 ! l5d] %all n be subject to any p5alties by ! ,adm9i/rator relat+ to loan =giv5ess = ! paym5ts = payroll co/s1 paym5ts on cov]$ mortgage obligations1 paym5ts on cov]$ lease obligations1 or cov]$ utility paym5ts1 z ! case may be4 7g7 ,taxability ,= purposes ( ! ,int]nal ,rev5ue ,code ( #aihf1 any am\nt :i* 7b = ?is subsection7 w\ld be includible 9 gross income ( ! eligible recipi5t by reason ( =giv5ess describ$ 9 subsection 7b7 %all be exclud$ f gross income4 7h7 ,rule ( con/ruction ,! cancellation ( indebt$ness on a cov]$ loan "u ?is section %all n o!rwise modify ! t]ms & conditions ( ! cov]$ loan4 7i7 ,regulations ,n lat] ?an #cj days aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all issue guidance & regulations implem5t+ ?is section4 7j7 ,direct appropriations ,!re is appropriat$1 out ( am\nts 9 ! ,treasury n o!rwise appropriat$1 = ! fiscal ye> end+ ,septemb] #cj1 #bjbj1 to rema9 available until ,septemb] #cj1 #bjba1 = additional am\nts #h1ejj1jjj1jjj "u ! head+ ,small ,bus9ess ,adm9i/ration--,bus9ess ,loans ,program ,acc\nt1 ,,c>es ,act = ! co/ ( gu>ante$ loans z au?oriz$ "u p>agraph 7#cg7 ( section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a771 z add$ by section #e ( ?is ,act4 7k7 ,em]g5cy rulemak+ au?ority ,n lat] ?an #ae days aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all issue regulations to c>ry out ?is title & ! am5dm5ts made by ?is title )\t reg>d to ! notice requirem5ts "u section #eec7;b7 ( title #e1 ,unit$ ,/ates ,code4 7l7 ,loan education 7#a7 ,! ,,sba %all h au?ority to provide additional f9ancial aw>ds to res\rce p>tn]s 7,small ,bus9ess ,developm5t ,c5t]s1 ,wom5's ,bus9ess ,c5t]s7 to provide c\nsel+1 tra9+1 & education to y\? sports provid]s on use ( loans4 7#b7 ,! ,,sba or ,treasury %all provide nonpr(its repres5t+ y\? sports provid]s s]v+ high priority areas ) grants to e/abli% a tra9+ program on access+ res\rces "u ! program1 & g5]al f9ancial managem5t4 7m7 ,fee waiv] ,dur+ ! cov]$ p]iod1 ) respect to a cov]$ loan-- 7#a7 9 lieu ( ! fee o!rwise applicable "u p>agraph 7#bc77;,a71 ! ,adm9i/rator %all collect no fee2 & 7#b7 9 lieu ( ! fee o!rwise applicable "u p>agraph 7#ah77;,a71 ! ,adm9i/rator %all collect no fee4 7n7 ,int]e/ rate requirem5ts ,a cov]$ loan %all be> an int]e/ rate-- 7#a7 = ! fir/ two ye>s1 & %all be no great] ?an #d p]c5t2 7#b7 = ye>s #c ?r\gh #g1 & %all h ,applicable ,f$]al ,rate 7,,afr7 plus #bej-dej base po9ts 7bps7 z det]m9$ by ! ,adm9i/rator bas$ on rev5ue decl9e4 7o7 ,loan def]m5t 7#a7 ,def9ition ( impact$ borr[] ,9 ?is section1 ! t]m impact$ borr[] means an eligible recipi5t t-- 7,a7 is 9 op]ation on ,febru>y #ae1 #bjbj2 & 7,b7 has an application = a cov]$ loan t is approv$ or p5d+ approval on or aft] ! date ( enactm5t ( ?is section4 7#b7 ,presumption ,= purposes ( ?is subsection1 an impact$ borr[] is presum$ to h be5 adv]sely impact$ by ,,covid-#ai4