,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #gfga ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bj1 #bjbj,mr4 ,vela 7= himself & ,mr4 ,good57 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to provide = ! e/abli%m5t ( a ,,covid-#ai ,small ,bus9ess ,recov]y ,fund1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,small ,bus9ess ,comeback ,act4 #b4 ,def9itions ,9 ?is ,act1 ! foll[+ def9itions apply3 7#a7 ,applicant ,! t]m applicant means a bus9ess fil+ an application = recov]y comp5sation "u ?is ,act4 7#b7 ,bus9ess ,! t]m bus9ess is int5d$ broadly to ref] to any type ( =-pr(it bus9ess conc]n1 nonpr(it organization1 vet]an's organization1 or ,tribal bus9ess conc]n1 & %all include individuals :o op]ate "u a sole proprietor%ip or z an indep5d5t contractor1 & eligible self-employ$ individuals4 7#c7 ,collat]al s\rce ,! t]m collat]al s\rce means all comp5sation receiv$ by ! applicant z a result ( ! losses = :i* ! applicant is seek+ comp5sation "u ?is ,act1 includ+ paym5ts by ,f$]al1 ,/ate1 or local gov]nm5ts1 relat$ to losses aris+ f ! ,,covid-#ai p&emic4 7#d7 ,,covid-#ai p&emic ,! t]m ,,covid-#ai p&emic means ! national em]g5cy proclaim$ by ! ,presid5t on ,m>* #ac1 #bjbj4 7#e7 ,eligible applicants ,! t]m eligible applicants means any type ( =-pr(it bus9ess conc]n1 nonpr(it organization1 vet]an's organization1 or ,tribal bus9ess conc]n1 & %all include individuals :o op]ate "u a sole proprietor%ip or z an indep5d5t contractor1 & eligible self-employ$ individuals4 7#f7 ,eligible self-employ$ individual ,! t]m eligible self-employ$ individual has ! mean+ giv5 ! t]m 9 section #gjjb7;b7 ( ! ,families ,fir/ ,coronavirus ,response ,act 7,public ,law #aaf-abg74 7#g7 ,f9ancial in/itution ,! t]m f9ancial in/itution means any in/itution ! bus9ess ( :i* is engag+ 9 f9ancial activities z describ$ 9 section #d7k7 ( ! ,bank ,hold+ ,company ,act 7#ab ,u4,s4,c4 #ahdc7k774 7#h7 ,l[-to-mod]ate income community ,! t]m l[-to-mod]ate income community means a c5sus tract :]e ! annualiz$ family income ( ! h\seholds or resid5ts 9 ! c5sus tract are bel[ #hj p]c5t ( ! ,,hud m$ian income = ! c\nty :]e ! c5sus tract is locat$4 7#i7 ,m9ority-own$ bus9ess ,! t]m m9ority-own$ bus9ess %all h ! same mean+ giv5 ! t]m "u section #cdb7;g77#d7 ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#ab ,u4,s4,c4 #edeb7;g77#d774 7#aj7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury4 7#aa7 ,special ,adm9i/rator ,! t]m ,special ,adm9i/rator means ! ,special ,adm9i/rator appo9t$ "u ?is ,act4 7#ab7 ,/ate ,! t]m ,/ate means any ,/ate ( ! ,unit$ ,/ates1 ! ,commonweal? ( ,pu]to ,rico1 ! ,di/rict ( ,columbia1 ! ,commonweal? ( ! ,nor!rn ,m>iana ,isl&s1 ,am]ican ,samoa1 ,guam1 ea* ( ! ,unit$ ,/ates ,virg9 ,isl&s1 & any t]ritory or possession ( ! ,unit$ ,/ates4 7#ac7 ,unit$ ,/ates ,! t]m ,unit$ ,/ates means ! sev]al ,/ates & includes ! t]ritorial sea & ! cont95tal %elf ( ! ,unit$ ,/ates1 z ^? t]ms are def9$ 9 ! ,viol5t ,crime ,control & ,law ,en=cem5t ,act ( #aiid 7#ah ,u4,s4,c4 #bbhj1 #bbha74 7#ad7 ,wom5-own$ bus9ess ,! t]m wom5-own$ bus9ess %all h ! same mean+ giv5 ! t]m "u section #cdb7;g77#f7 ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#ab ,u4,s4,c4 #edeb7;g77#f774 #c4 ,purpose 7a7 ,x is ! purpose ( ?is ,act to ensure dome/ic economic recov]y f ! ,,covid-#ai p&emic by ensur+ t bus9esses 9 impair$ sectors c resume _! function z /rong eng9es ( ! economy & employ]s by-- 7#a7 (fsett+ op]at+ exp5ses = bus9esses t are p>tially or completely %ut d[n z a result ( ,,covid-#ai relat$ closures1 & support+ employ]s' ability to reta9 employees & rehire employees laid (f z a result ( ! ,,covid-#ai p&emic2 7#b7 enc\rage bus9esses to reop5 by provid+ !m ! necess>y assi/ance & res\rces to survive ! ,,covid-#ai p&emic2 7#c7 assi/+ employees ( eligible employ]s :o h contract$ or h be5 expos$ dur+ _! employm5t to ,,covid-#ai1 :o are unable to "w & :o w\ld o!rwise n be eligible = assi/ance2 7#d7 provid+ support = small bus9esses & wom5- & m9ority-own$ bus9esses2 & 7#e7 provid+ assi/ance 9 a mann] t complem5ts ! assi/ance programs e/abli%$ "u ! ,coronavirus ,aid1 ,relief1 & ,economic ,security ,act 7,public ,law #aaf-acf74 7b7 ,any funds paid to an applicant "u ?is ,act %all be us$ exclusively = ! purpose ( dome/ic economic recov]y z set =? 9 subsection 7a74 7c7 ,prioritization ,! ,special ,adm9i/rator %all prioritize comp5sation paym5ts "u ?is ,act1 bas$ on-- 7#a7 ! level ( impairm5t a bus9ess is exp]i5c+ z a result ( ! ,,covid-#ai p&emic2 7#b7 :e!r ! bus9ess op]ates 9 a rural or l[-to-mod]ate income community1 z det]m9$ by ! ,special ,adm9i/rator2 7#c7 :e!r ! bus9ess is a wom5-own$ bus9ess or a m9ority-own$ bus9ess2 & 7#d7 :e!r ! bus9ess is a small bus9ess1 includ+ an indep5d5tly own$ fran*ise1 z det]m9$ by ! ,special ,adm9i/rator4 #d4 ,adm9i/ration 7a7 ,9 g5]al ,! ,secret>y %all appo9t a ,special ,adm9i/rator on ! basis ( integrity & demon/rat$ ability 9 acc\nt+1 audit+1 f9ancial analysis1 law1 managem5t analysis1 or public adm9i/ration1 & act+ ?r\gh su* ,special ,adm9i/rator1 %all-- 7#a7 adm9i/] ! recov]y comp5sation program e/abli%$ "u ?is ,act2 7#b7 promulgate all proc$ural & sub/antive rules = ! adm9i/ration ( ?is ,act2 & 7#c7 employ & sup]vise he>+ (fic]s & o!r adm9i/rative p]sonnel to p]=m ! duties ( ! ,special ,adm9i/rator "u ?is ,act4 7b7 ,recov]y comp5sation s]vices ,to ! ext5t ! ,special ,adm9i/rator det]m9es is necess>y to implem5t ! provisions ( ?is ,act 9 a timely mann]1 ! ,special ,adm9i/rator is au?oriz$ to contract ) ?ird p>ties to review bus9ess applications1 recomm5d comp5sation det]m9ations1 arrange paym5ts1 & p]=m audits on behalf ( ! ,special ,adm9i/rator4 ,any ?ird p>ty contract+ to provide recov]y comp5sation s]vices pursuant to ?is subsection %all be comp5sat$ on a co/ basis pursuant to guidel9es e/abli%$ by ! ,special ,adm9i/rator 9 consultation ) ! ,ov]sight ,bo>d4 7c7 ,limitation ( liability 7#a7 ,! provisions ( ?is ,act & ! s]vices provid$ "u subsection 7b7 %all be en=c$ by ! ,secret>y4 ,any p>ty contract+ ) ! ,special ,adm9i/rator to assi/ 9 recov]y comp5sation s]vices pursuant to subsection 7b7 %all n be> any liability = ! p]=mance ( su* duties except = gross neglig5ce1 willful misconduct1 or fraud4 7#b7 ,!re %all be no liability impos$ on any p>ty = n contract+ ) ! ,special ,adm9i/rator z describ$ 9 p>agraph 7#a74 ,any f9ancial in/itution n contract+ ) ! ,special ,adm9i/rator t provides assi/ance or in=mation to an applicant ) respect to ! comp5sation program e/abli%$ "u ?is ,act )\t receiv+ comp5sation = provid+ su* assi/ance or in=mation %all n be> any liability = ! provision ( su* assi/ance or in=mation except = gross neglig5ce1 willful misconduct1 or fraud1 provid$ t no?+ 9 ?is subsection %all be con/ru$ to alt] any duty or obligation ow$ by su* p>ty to an applicant "u o!rwise applicable ,/ate or ,f$]al law or by agreem5t ) ! applicant4 7#c7 ,/ate laws or regulations conflict+ ) ! directions ( ! ,special ,adm9i/rator pursuant to subsection 7b7 are preempt$ to ! ext5t ( su* actual or impli$ conflict4 7#d7 ,gov]n+ law & jurisdiction ,! di/rict c\rts ( ! ,unit$ ,/ates %all h orig9al & exclusive jurisdiction ov] any action aris+ out ( a contract describ$ 9 subsection 7b74 7d7 ,confid5tiality 7#a7 ,ret5tion ( privilege ,! submission ( any nonpublicly available data & in=mation by an applicant to ! ,special ,adm9i/rator "u ?is ,act %all n con/itute a waiv] (1 or o!rwise affect1 any privilege aris+ "u ,f$]al or ,/ate law 7includ+ ! rules ( any ,f$]al or ,/ate c\rt7 to :i* ! data or in=mation is o!rwise subject4 7#b7 ,cont9u$ application ( prior confid5tiality agreem5ts ,any requirem5t "u ,f$]al or ,/ate law to ! ext5t o!rwise applicable1 or any requirem5t pursuant to a writt5 agreem5t 9 effect betwe5 an applicant & any ?ird p>ty :i* provides an applicant's nonpublicly available data or in=mation to ! ,special ,adm9i/rator1 reg>d+ ! privacy or confid5tiality ( any data or in=mation 9 ! possession ( ! ?ird p>ty1 %all cont9ue to apply to su* data or in=mation aft] ! data or in=mation has be5 provid$ to ! ,special ,adm9i/rator "u ?is ,act4 7#c7 ,! ,special ,adm9i/rator1 & any ?ird p>ty :i* obta9s an applicant's nonpublicly available data or in=mation1 is prohibit$ f %>+ or sell+ su* in=mation except z requir$ by law4 ,! ,special ,adm9i/rator or ?ird p>ty may %>e in=mation z necess>y to meet ! obligations "u ?is ,act1 s long z ! ?ird p>ty agrees 9 writ+ to ma9ta9 ! confid5tiality ( ! in=mation4 7e7 ,audit au?ority 7#a7 ,9 g5]al ,! ,secret>y1 & ! ,special ,inspector ,g5]al e/abli%$ by ?is ,act1 %all h access1 = purposes ( audit1 to ! records & o!r p]t95t docum5ts ( ! ,special ,adm9i/rator1 any ?ird p>ty describ$ 9 subsection 7b71 & any applicant1 includ+ ) respect to collat]al s\rce records & docum5ts1 us$ 9 c>ry+ out ?is ,act4 7f7 ,reports 7#a7 ,9 g5]al ,! ,special ,adm9i/rator %all submit weekly reports to ,congress t %all include-- 7,a7 a li/+ ( ! eligible bus9esses receiv+ recov]y comp5sation "u ?is ,act2 7,b7 a li/+ ( ea* contract ! ,special ,adm9i/rator made ) ?ird-p>ty s]vice provid]s "u subsection 7b71 includ+ in=mation ) respect to ! s]vices be+ provid$ "u su* contracts2 7,c7 a li/+ ( all out/&+ appeals ( comp5sation det]m9ations2 & 7,d7 an e/imate ( ! total am\nt ( recov]y comp5sation paym5ts made "u ?is ,act t is curr5t z ( ! date on :i* ! report is submitt$4 7#b7 ,tim+ ,! reports requir$ "u ?is subsection %all be submitt$ n lat] ?an #g cal5d> days aft] ! date t recov]y comp5sation is fir/ paid "u ?is ,act1 & e #g cal5d> days !reaft]4 7g7 ,special ,adm9i/rator ,! ,special ,adm9i/rator %all be subject to ! prohibition on acts affect+ p]sonal f9ancial int]e/ "u section #bjh ( title #ah1 ,unit$ ,/ates ,code1 & %all be subject to limitations on outside employm5t & outside income pursuant to title ,v ( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4 ,app474 7h7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ su* sums z may be necess>y to pay ! adm9i/rative & support co/s = ! ,special ,adm9i/rator 7includ+ ! contracts describ$ 9 subsection 7b77 9 c>ry+ out ?is ,act4 #e4 ,det]m9ation ( eligibility = recov]y comp5sation 7a7 ,fil+ ( application = recov]y comp5sation claim 7#a7 ,9 g5]al ,an applicant may file an application = recov]y comp5sation "u ?is ,act ) ! ,special ,adm9i/rator4 ,except z provid$ "u p>agraph 7#c71 ! application = recov]y comp5sation %all be on ! =m develop$ "u p>agraph 7#b7 & %all /ate ! factual basis = eligibility = recov]y comp5sation & ! am\nt ( recov]y comp5sation s\ght4 7#b7 ,application =m 7,a7 ,9 g5]al 7i7 ,! ,special ,adm9i/rator %all develop an application =m t %all be simple to file & audit = fraud t applicants %all use :5 submitt+ applications "u p>agraph 7#a74 7ii7 ,! ,special ,adm9i/rator %all ensure t ! =m describ$ 9 clause 7i7 c be fil$ electronically1 if det]m9$ to be practicable4 7,b7 ,multiple languages ,! =m develop$ "u subp>agraph 7,a7 %all be made available 9 ,engli% & ,spani%1 & ! ,special ,adm9i/rator may prioritize translation ( ! =m into additional languages 9 ord] to s]ve ! broade/ pool ( applicants4 7,c7 ,cont5ts ,! =m develop$ "u subp>agraph 7,a7 %all require t an applicant disclose all kn[n collat]al comp5sation1 & %all reque/ in=mation on ! applicant's impairm5t t ! ,special ,adm9i/rator deems necess>y1 includ+ in=mation relat+ to ! applicant's exp5ses1 payroll1 & loss ( rev5ue due to ! ,,covid-#ai p&emic4 7,d7 ,exp5ses1 payroll1 & lo/ rev5ue ,9 develop+ ! cont5ts ( ! =m "u subp>agraph 7,c71 ! ,special ,adm9i/rator may consid] requir+ in=mation on payroll1 op]at+ exp5ses1 lo/ rev5ue1 & paym5ts to employees ) pot5tial ,,covid-#ai-relat$ illness4 ,su* in=mation requir$ may include-- 7i7 ! av]age total mon?ly paym5ts by ! applicant = payroll1 payroll support 7includ+ paid sick1 m$ical1 or family leave1 & co/s relat$ to ! cont9uation ( gr\p heal? c>e b5efits dur+ ^? p]iods ( leave7 dur+ ! #ah-mon? p]iod be=e ,m>* #ac1 #bjbj1 except t1 9 ! case ( an applicant t is a seasonal employ]1 z det]m9$ by ! ,special ,adm9i/rator1 ! av]age total mon?ly paym5ts = payroll & payroll support %all be = ! p]iod beg9n+ ,m>* #a1 #bjai1 & end+ ,june #cj1 #bjai2 7ii7 ! av]age total mon?ly paym5ts by ! applicant = mortgage paym5ts1 r5t paym5ts1 utilities1 insurance paym5ts1 & paym5ts on any debt obligations incurr$ prior to ,july #a1 #bjbj1 dur+ ! #ah-mon? p]iod be=e ,july #a1 #bjbj2 7iii7 to ! ext5t t ! ,special ,adm9i/rator is mak+ available recov]y comp5sation = lo/ rev5ue1 ! av]age mon?ly rev5ue1 includ+ unpaid acc\nts receivable1 t does n include net pr(its = ! applicant dur+ ! #ah-mon? p]iod be=e ! date on :i* ! application = recov]y comp5sation is submitt$2 & 7iv7 ! wages1 sal>y1 or o!r paym5ts made to employees :o are unable to "w because !y te/$ positive = or 7 expos$ to ,,covid-#ai4 7,e7 ,confid5tial bus9ess in=mation ,to ! ext5t ! in=mation 9 ! application is non-public in=mation1 ! cont5ts %all be deem$ ,confid5tial ,bus9ess ,in=mation n subject to disclosure4 7#c7 ,int]im application fil+ ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ! date on :i* regulations are promulgat$ "u ?is ,act1 an applicant may file ) ! ,special ,adm9i/rator an int]im application = imm$iate relief )\t ! use ( an approv$ =m1 provid$ ! application includes in=mation describ$ 9 subp>agraph 7,c7 ( p>agraph 7#b7 ( ?is subsection4 7#d7 ,limitation ,no application may be fil$ "u p>agraph 7#a71 or paid by ! ,special ,adm9i/rator1 ) respect to losses accru$ aft] ! t]m9ation ( ! national em]g5cy proclaim$ by ! ,presid5t on ,m>* #ac1 #bjbj4 ,)9 a reasonable "t aft] su* t]m9ation1 & subject to ! provisions ( ?is ,act1 ! ,special ,adm9i/rator %all notify ,congress ( ! expect$ closure ( ! program e/abli%$ "u ?is ,act1 :ile ensur+ t all applications fil$ prior to ! t]m9ation ( ! national em]g5cy receive due consid]ation4 7#e7 ,new bus9esses ,! ,special ,adm9i/rator %all provide guidel9es on h[ applicants t are op]at+ new entities be=e ,m>* #ac1 #bjbj1 %all sub/antiate _! ,exp5ses1 ,payroll1 & ,lo/ ,rev5ue4 7b7 ,review & det]m9ation 7#a7 ,review ,! ,special ,adm9i/rator %all review an application submitt$ "u subsection 7a77#a7 & det]m9e-- 7,a7 :e!r ! applicant is an eligible applicant "u subsection 7c72 & 7,b7 ! am\nt ( recov]y comp5sation ! eligible applicant %all receive1 on a mon?ly basis1 bas$ on :at is necess>y to ma9ta9 cont9uity ( op]ations = ! applicant ) respect to pay+ exp5ses & payroll & comp5sat+ = lo/ rev5ue z describ$ 9 subp>agraph 7,d7 ( subsection 7a77#b72 provid$ t-- 7i7 ! am\nt ( recov]y comp5sation ! eligible applicant receives %all be adju/$ ea* mon? to take into acc\nt increases or decreases 9 su* applicant's rev5ue ov] ! previ\s mon?2 7ii7 ! total am\nt ( recov]y comp5sation to :i* ! applicant is entitl$ bas$ on ?is subp>agraph %all take into acc\nt ! am\nt ( any int]im comp5sation aw>d$ to ! applicant pursuant to p>agraph 7#b72 & 7iii7 ! maximum am\nt ( recov]y comp5sation to :i* an eligible applicant may be entitl$ %all be ! less] (-- 7,i7 ! applicant's av]age total mon?ly exp5se paym5ts1 z det]m9$ "u subp>agraph 7,c71 = a p]iod n to exce$ #d mon?s 9 aggregate2 & 7,,ii7 #ej1jjj1jjj4 7,c7 ,av]age total mon?ly exp5se paym5ts ,= purposes ( clause 7iii7 ( subp>agraph 7,b71 an applicant's av]age total mon?ly exp5se paym5ts %all be ! av]age mon?ly paym5ts by ! applicant dur+ ! #a ye> prior to ! date on :i* an application is made 7or 9 ! case ( a seasonal bus9ess or new bus9ess1 a p]iod det]m9$ by ! ,special ,adm9i/rator71 =-- 7i7 payroll co/s2 7ii7 co/s relat$ to ! cont9uation ( gr\p heal? c>e b5efits dur+ p]iods ( paid sick1 m$ical1 or family leave2 7iii7 any insurance premiums2 7iv7 employee sal>ies1 commissions1 or simil> comp5sations1 except t recov]y comp5sation may n be us$ = ! comp5sation ( an individual employee 9 excess ( an annual sal>y ( #ajj1jjj1 z prorat$ = ! relevant comp5sation p]iod2 7v7 paym5ts ( int]e/ on any mortgage obligation 7:i* %all n include any prepaym5t ( or paym5t ( pr9cipal on a mortgage obligation72 7vi7 r5t 7includ+ r5t "u a lease agreem5t72 7vii7 utilities2 7viii7 loan repaym5t obligations incurr$ by ! applicant pursuant to section #aajb ( ! ,coronavirus ,aid1 ,relief1 & ,economic ,security ,act 7,public ,law #aaf-acf72 7ix7 loan repaym5t obligations incurr$ by ! applicant pursuant to a disa/] loan au?oriz$ "u section #g7;b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b772 7x7 int]e/ on any o!r debt obligations t 7 incurr$ be=e ,m>* #a1 #bjbj2 & 7xi7 ,/ate & local tax obligations4 7#b7 ,int]im applications review ,! ,special ,adm9i/rator %all review an int]im application submitt$ "u subsection 7a77#c7 & det]m9e-- 7,a7 :e!r ! applicant is an eligible applicant "u subsection 7c72 & 7,b7 ) respect to an applicant det]m9$ to be an eligible applicant1 ! am\nt ( int]im comp5sation to :i* an eligible applicant is entitl$ "u subp>agraph 7,c74 7,c7 ,int]im comp5sation am\nt ,an eligible applicant "u ?is p>agraph %all be entitl$ to int]im comp5sation 9 su* am\nts z det]m9$ by ! ,special ,adm9i/rator n to exce$1 z calculat$ "u subp>agraph 7,c7 ( p>agraph 7#a7-- 7i7 9 ! case ( an applicant ) av]age mon?ly paym5ts 9 excess ( #a1jjj1jjj1 #be p]c5t ( su* paym5ts2 7ii7 9 ! case ( an applicant ) av]age mon?ly paym5ts 9 excess ( #ajj1jjj b less ?an #a1jjj1jjj1 #ej p]c5t ( su* paym5ts2 & 7iii7 9 ! case ( an applicant ) av]age mon?ly paym5ts ( #ajj1jjj or less1 #ge p]c5t ( su* paym5ts4 7#c7 ,det]m9ations ,a det]m9ation "u ?is subsection %all be f9al & n subject to judicial review4 7,a7 ,z soon z practicable1 & = applications giv5 priority by ! ,special ,adm9i/rator "u ?is ,act1 n lat] ?an #cj cal5d> days aft] t date on :i* an application is fil$ "u subsection 7a77#a71 ! ,special ,adm9i/rator %all ei!r reque/ m in=mation f ! applicant or complete a review & make a det]m9ation pursuant to p>agraph 7#a7 ( ?is subsection1 & provide writt5 notice to ! applicant1 ) respect to ! matt]s t 7 ! subject ( ! application = recov]y comp5sation "u review4 ,if ! ,special ,adm9i/rator reque/s additional in=mation pursuant to ?is subp>agraph1 ! ,special ,adm9i/rator %all abs5t exig5t circum/ances make its det]m9ation pursuant to p>agraph 7#a7 ( ?is subsection )9 #cj cal5d> days ( receiv+ a response to its reque/ = m in=mation4 7,b7 ,n lat] ?an #ae cal5d> days aft] ! date on :i* an int]im application is fil$ "u subsection 7a77#c71 ! ,special ,adm9i/rator %all complete a review & make a det]m9ation on int]im comp5sation pursuant to p>agraph 7#b7 ( ?is subsection1 & provide writt5 notice to ! applicant ) respect to t det]m9ation4 7#d7 ,collat]al s\rces ,9 det]m9+ ! am\nt ( recov]y comp5sation to be paid to an applicant "u p>agraph 7#a77;,b7 ! ,special ,adm9i/rator %all consid] ! am\nt ( ! collat]al s\rce comp5sation ! applicant receiv$ or ! value ( collat]al s\rce comp5sation ! applicant is reasonably c]ta9 to receive z a result ( ! ,,covid-#ai p&emic4 7#e7 ,appeals ,! ,special ,adm9i/rator %all promulgate regulations e/abli%+ a proc$ure by :i* an applicant may appeal directly to ! ,special ,adm9i/rator an eligibility or comp5sation det]m9ation ) respect to su* applicant made "u ?is ,act4 ,! ,unit$ ,/ates ,c\rt ( ,f$]al ,claims %all h exclusive jurisdiction ( an appeal f a f9al det]m9ation by ! ,special ,adm9i/rator "u ?is ,act4 7#f7 ,rights ( an applicant ,9 all matt]s relat$ to its application1 an applicant %all h ! "r to be repres5t$ by an attorney4 ,not)/&+ any contract1 a repres5tative ( an applicant may n *>ge1 = s]vices r5d]$ 9 connection ) an application "u ?is ,act1 m ?an #aj p]c5t ( ! diff]5ce betwe5-- 7,a7 ! initial am\nt ( recov]y comp5sation aw>d$ to su* applicant z det]m9$ by ! ,special ,adm9i/rator "u p>agraph 7#c72 & 7,b7 ! f9al am\nt ( recov]y comp5sation aw>d$ to su* applicant aft] any appeal ( su* det]m9ation4 7c7 ,eligibility 7#a7 ,9 g5]al ,an applicant %all be det]m9$ to be an eligible applicant = purposes ( ?is subsection if ! ,special ,adm9i/rator det]m9es t su* applicant-- 7,a7 is a bus9ess or organization 9 an impair$ sector z def9$ by ! ,special ,adm9i/rator1 includ+ #eja;c7#f7 organizations2 7,b7 is a bus9ess or organization t is creat$ or organiz$ 9 ! ,unit$ ,/ates or "u ! laws ( ! ,unit$ ,/ates & has significant op]ations 91 & a majority ( its employees bas$ 91 ! ,unit$ ,/ates2 7,c7 is n eligible = loans or loan gu>antees "u subsection 7b77#a71 7b77#b71 or 7b77#c7 ( section #djjc ( ! ,coronavirus ,aid1 ,relief1 & ,economic ,security ,act 7,public ,law #aaf-acf72 7,d7 9 ! case ( an applicant t has receiv$ a loan "u section #aajb ( ! ,coronavirus ,aid1 ,relief1 & ,economic ,security ,act 7,public ,law #aaf-acf71 has compli$ ) all applicable borr[] repaym5t obligations "u su* loan2 7,e7 is n regi/]$ ) ! ,securities & ,ex*ange ,commission z a ,family ,(fice pursuant to section #bge4bjb7;a77#aa77;,g7-#a ( title #ag1 ,code ( ,f$]al ,regulations2 7,f7 to ! ext5t n o!rwise eligible "u ?is p>agraph1 any bus9ess utiliz+ bus9ess =mat fran*is+ z a fran*isor or fran*isee "u "p #dcf ( title #af1 ,code ( ,f$]al ,regulations or a bus9ess conc]n op]at+ z a fran*isor or fran*isee t is assign$ a fran*ise id5tifi] code by ! ,small ,bus9ess ,adm9i/ration2 & 7,g7 meets ! requirem5ts ( p>agraph 7#b74 7#b7 ,requirem5ts 7,a7 ,an applicant %all n be det]m9$ to be an eligible applicant by ! ,special ,adm9i/rator unless ! applicant-- 7i7 0 9 op]ation on ,m>* #a1 #bjbj2 7ii7 0 n a debtor conc]n+ :i* an active case "u title #aa1 ,unit$ ,/ates ,code1 _h be5 comm5c$ prior to ,m>* #a1 #bjbj2 & 7iii7 to ! ext5t ! applicant is seek+ recov]y comp5sation = payroll & payroll support z describ$ 9 ?is ,act1 _h employees = :om ! applicant paid sal>ies or wages1 & payroll taxes4 7,b7 ,an applicant reque/+ recov]y comp5sation = losses describ$ "u ?is ,act %all n be eligible = su* comp5sation unless ! applicant cont9u$ to pay sal>ies or wages to su* employees1 or w o!rwise provide relief receiv$ "u subsection 7a77#b77;,d7 to su* employees1 :o-- 7i7 te/$ positive = ,,covid-#ai2 or 7ii7 7 expos$ to ,,covid-#ai 9 ! workplace4 7,c7 ,s+le application ,n m ?an "o application may be submitt$ "u ?is ,act by an applicant1 except t1 = purposes ( ?is subp>agraph-- 7i7 an eligible applicant t submitt$ an int]im application "u subsection 7a77#c7 %all rema9 eligible to file an application = recov]y comp5sation "u subsection 7a77#a72 7ii7 9 ! ev5t ! ,secret>y notifies ,congress ( a r5ew$ ,,covid-#ai ?reat "u ?is ,act1 an eligible applicant %all rema9 eligible to file a r5ewal or updat$ v]sion ( a previ\sly fil$ application2 & 7iii7 pursuant to guidel9es to be e/abli%$ by ! ,special ,adm9i/rator1 relat$ entities may submit a jo9t application4 #f4 ,paym5ts to eligible applicants 7a7 ,9 g5]al ,z soon z practicable1 b n lat] ?an #e cal5d> days aft] ! date on :i* a det]m9ation is made by ! ,special ,adm9i/rator reg>d+ ! am\nt ( recov]y comp5sation or int]im comp5sation due to an applicant "u ?is ,act1 ! ,special ,adm9i/rator %all au?orize paym5t to su* applicant ( ! am\nt det]m9$ ) respect to ! applicant4 7b7 ,all[able uses ( recov]y comp5sation 7#a7 ,9 g5]al ,an eligible applicant may use recov]y comp5sation proce$s only =-- 7,a7 payroll co/s2 7,b7 co/s relat$ to ! cont9uation ( gr\p heal? c>e b5efits dur+ p]iods ( paid sick1 m$ical1 or family leave2 7,c7 any insurance premiums2 7,d7 employee sal>ies1 commissions1 or simil> comp5sations1 except t recov]y comp5sation may n be us$ = ! comp5sation ( an individual employee 9 excess ( an annual sal>y ( #ajj1jjj1 z prorat$ = ! relevant comp5sation p]iod2 7,e7 paym5ts ( int]e/ on any mortgage obligation 7:i* %all n include any prepaym5t ( or paym5t ( pr9cipal on a mortgage obligation72 7,f7 r5t 7includ+ r5t "u a lease agreem5t72 7,g7 utilities2 7,h7 loan repaym5t obligations incurr$ by ! applicant pursuant to section #aajb ( ! ,coronavirus ,aid1 ,relief1 & ,economic ,security ,act 7,public ,law #aaf-acf72 7,i7 loan repaym5t obligations incurr$ by ! applicant pursuant to a disa/] loan au?oriz$ "u section #g7;b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b772 7,j7 int]e/ on any o!r debt obligations t 7 incurr$ be=e ,m>* #a1 #bjbj2 & 7,k7 ,f$]al1 ,/ate1 & local tax obligations4 7#b7 ,c]tification on use ( funds ,z a condition = receipt ( recov]y comp5sation "u ?is ,act1 an eligible applicant %all make a good-fai? c]tification t-- 7,a7 ! unc]ta9ty ( economic conditions z ( ! date ( ! application makes necess>y ! recov]y comp5sation reque/ to support ! ongo+ op]ations ( ! applicant2 7,b7 ! funds ! applicant receives w be us$ to reta9 at lea/ #ij p]c5t ( ! applicant's work=ce z ( ! date ( application1 at full comp5sation & b5efits1 = ! p]iod t !y receive comp5sation2 7,c7 ! applicant int5ds to re/ore comp5sation & b5efits to n less ?an #ge p]c5t ( ! work=ce ( ! applicant t exi/$ z ( ,m>* #a1 #bjbj1 no lat] ?an #d mon?s aft] ! t]m9ation date ( ! public heal? em]g5cy decl>$ by ! ,secret>y ( ,heal? & ,human ,s]vices on ,janu>y #ca1 #bjbj1 "u section #cai ( ! ,public ,heal? ,s]vice ,act 7#db ,u4,s4,c4 #bdg;d7 9 response to ,,covid-#ai2 7,d7 ! applicant is an entity or bus9ess t is creat$ or organiz$ 9 ! ,unit$ ,/ates or "u ! laws ( ! ,unit$ ,/ates & has significant op]ations 91 & a majority ( its employees bas$ 91 ! ,unit$ ,/ates2 & 7,e7 ! funds ! applicant receives w n be us$ = a re/rict$ purpose "u subsection 7c74 7c7 ,re/rictions ,! ,special ,adm9i/rator %all make a paym5t ( recov]y comp5sation to an applicant only if su* applicant agrees-- 7#a7 until ! date #ab mon?s aft] ! date on :i* ! paym5t is made1 n to repur*ase an equity security t is li/$ on a national securities ex*ange ( ! applicant or any p>5t company ( ! applicant1 except to ! ext5t requir$ "u a contractual obligation t is 9 effect z ( ! date ( enactm5t ( ?is ,act2 7#b7 until ! date #ab mon?s aft] ! date on :i* ! paym5t is made1 n to pay divid5ds or make o!r capital di/ributions ) respect to ! common /ock ( ! applicant1 dur+ ! eligible p]iod a recipi5t t is an ,s corporation or pas/hr\gh entity may provide a di/ribution to pay tax obligations2 & 7#c7 no funds receiv$ by ! applicant may be us$ = paym5t ( an exp5se to a =eign p]son :i* is a relat$ p>ty ( ! applicant to :i* a d$uction is all[able "u *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf4 7d7 ,f9al nett+ 7#a7 ,9 g5]al ,n lat] ?an #f mon?s aft] ! end ( an eligible applicant's cov]$ p]iod1 an eligible applicant %all report1 pursuant to rules prescrib$ by ! ,special ,adm9i/rator1 a f9al acc\nt+ ( all eligible op]at+ co/s incurr$ dur+ ! cov]$ p]iod1 & all eligible rev5ue receiv$ dur+ ! cov]$ p]iod4 7#b7 ,review ,! ,special ,adm9i/rator %all det]m9e1 bas$ on a report submitt$ "u p>agraph 7#a71 :e!r an applicant receiv$ any excess recov]y comp5sation "u ?is title dur+ ! cov]$ p]iod4 7#c7 ,ov]paym5ts ,to ! ext5t an eligible applicant receiv$ excess recov]y comp5sation z det]m9$ by ! ,special ,adm9i/rator1 an eligible applicant %all return su* excess recov]y comp5sation to ! ,treasury 9 a mann] prescrib$ by ! ,special ,adm9i/rator4 7e7 ,paym5t au?ority ,?is ,act con/itutes budget au?ority 9 advance ( appropriations ,acts & repres5ts ! obligation ( ! ,f$]al ,gov]nm5t to provide = ! paym5t ( am\nts = comp5sation "u ?is ,act4 #g4 ,regulations ,n lat] ?an #cj cal5d> days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y1 9 consultation ) ! ,special ,adm9i/rator1 %all promulgate regulations to c>ry out ?is ,act1 includ+ regulations ) respect to-- 7#a7 =ms to be us$ 9 submitt+ applications "u ?is ,act2 7#b7 ! in=mation to be includ$ 9 su* =ms2 7#c7 proc$ures to assi/ an applicant 9 fil+ & pursu+ applications "u ?is ,act2 7#d7 ! am\nt ( ! fee paid by ! ,special ,adm9i/rator = s]vices provid$ "u ?is ,act2 & 7#e7 o!r matt]s det]m9$ appropriate by ! ,secret>y4 #h4 ,program r5ewal = resurg5ce ( coronavirus ?reat ,9 ! ev5t t ! ,secret>y det]m9es t a resurg5ce ( ! ,,covid-#ai ?reat has result$ 9 economic conditions t w>rant an ext5sion or r5ewal ( recov]y comp5sation assi/ance to bus9esses "u ?is ,act1 ! ,secret>y %all-- 7#a7 notify ,congress ( su* det]m9ation no lat] ?an #b cal5d> days aft] mak+ su* det]m9ation2 & 7#b7 direct ! ,special ,adm9i/rator to accept new & updat$ applications = recov]y comp5sation "u ?is ,act4 #i4 ,special ,inspector ,g5]al = ,,covid-#ai recov]y funds 7a7 ,(fice ( ,inspector ,g5]al ,!re is h]eby e/abli%$ )9 ! ,dep>tm5t ( ! ,treasury ! ,(fice ( ! ,special ,inspector ,g5]al = ,,covid-#ai ,recov]y ,funds4 7b7 ,appo9tm5t ( ,inspector ,g5]al2 removal 7#a7 ,9 g5]al ,! head ( ! ,(fice ( ! ,special ,inspector ,g5]al = ,,covid-#ai ,recov]y ,funds %all be ! ,special ,inspector ,g5]al = ,,covid-#ai ,recov]y ,funds 7ref]r$ to 9 ?is section z ! ,special ,inspector ,g5]al71 :o %all be appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate4 7#b7 ,nom9ation ,! nom9ation ( ! ,special ,inspector ,g5]al %all be made on ! basis ( integrity & demon/rat$ ability 9 acc\nt+1 audit+1 f9ancial analysis1 law1 managem5t analysis1 public adm9i/ration1 or inve/igations4 ,! nom9ation ( an individual z ,special ,inspector ,g5]al %all be made )9 #cj cal5d> days ( enactm5t ( ?is ,act4 7#c7 ,removal ,! ,special ,inspector ,g5]al %all be removable f (fice 9 accordance ) ! provisions ( section #c7;b7 ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app471 provid$ t su* removal is made 9 concurr5ce ) ! ,congressional ,ov]sight ,bo>d e/abli%$ "u ?is ,act4 7#d7 ,political activity ,= purposes ( section #gcbd ( ,act #e1 ,unit$ ,/ates ,code1 ! ,special ,inspector ,g5]al %all n be consid]$ an employee :o det]m9es policies to be pursu$ by ! ,unit$ ,/ates 9 ! nationwide adm9i/ration ( ,f$]al law4 7#e7 ,basic pay ,! annual rate ( basic pay ( ! ,special ,inspector ,g5]al %all be ! annual rate ( basic pay = an ,inspector ,g5]al "u section #c7;e7 ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app474 7c7 ,duties 7#a7 ,9 g5]al ,x %all be ! duty ( ! ,special ,inspector ,g5]al to1 9 accordance ) section #d7;b77#a7 ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app471 conduct1 sup]vise1 & coord9ate audits & inve/igations ( ! paym5t ( recov]y comp5sation by ! ,special ,adm9i/rator "u ?is ,act1 & ! adm9i/ration ( ! provisions ( ?is ,act by ! ,special ,adm9i/rator1 includ+ by collect+ & summ>iz+ ! foll[+ in=mation3 7,a7 ,a li/+ ( ! eligible bus9esses receiv+ recov]y comp5sation "u ?is ,act4 7,b7 ,an explanation ( ! reasons ! ,special ,adm9i/rator det]m9$ x to be appropriate to make ea* recov]y comp5sation det]m9ation4 7,c7 ,a li/+ ( ea* contract ! ,special ,adm9i/rator made ) ?ird-p>ty s]vice provid]s "u ?is ,act1 includ+ in=mation ) respect to ! fees & ! s]vices be+ provid$ "u su* contracts4 7,d7 ,a curr5t1 z ( ! date on :i* ! in=mation is collect$1 e/imate ( ! total am\nt ( recov]y comp5sation paym5ts made "u ?is ,act4 7#b7 ,ma9t5ance ( sy/ems ,! ,special ,inspector ,g5]al %all e/abli%1 ma9ta91 & ov]see su* sy/ems1 proc$ures1 & controls z ! ,special ,inspector ,g5]al consid]s appropriate to dis*>ge ! duties ( ! ,special ,inspector ,g5]al "u p>agraph 7#a74 7#c7 ,te/imony ,! ,special ,inspector ,g5]al %all make reasonable ef=ts to comply ) any reque/ to appe> be=e a ,committee ( ,congress = purposes ( provid+ te/imony relat+ to ! comp5sation program e/abli%$ "u ?is ,act4 7#d7 ,additional duties & responsibilities ,9 addition to ! duties describ$1 ! ,special ,inspector ,g5]al %all also h ! duties & responsibilities ( inspectors g5]al "u ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app474 7d7 ,p[]s & au?orities 7#a7 ,9 g5]al ,9 c>ry+ out ! duties ( ! ,special ,inspector ,g5]al "u subsection 7c71 ! ,special ,inspector ,g5]al %all h ! au?orities provid$ 9 section #f ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app474 7#b7 ,treatm5t ( (fice ,! ,(fice ( ! ,special ,inspector ,g5]al = ,,covid ,recov]y ,funds %all be consid]$ to be an (fice describ$ 9 section #f7;f77#c7 ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app47 & %all be exempt f an initial det]m9ation by ! ,attorney ,g5]al "u section #f7;f77#b7 ( t ,act4 7e7 ,p]sonnel1 facilities1 & o!r res\rces 7#a7 ,appo9tm5t ( (fic]s & employees ,! ,special ,inspector ,g5]al may select1 appo9t1 & employ su* (fic]s & employees z may be necess>y = c>ry+ out ! duties ( ! ,special ,inspector ,g5]al1 subject to ! provisions ( title #e1 ,unit$ ,/ates ,code1 gov]n+ appo9tm5ts 9 ! competitive s]vice1 & ! provisions ( *apt] #ea & sub*apt] ,,iii ( *apt] #ec ( t title1 relat+ to classification & ,g5]al ,s*$ule pay rates4 7#b7 ,exp]ts & consultants ,! ,special ,inspector ,g5]al may obta9 s]vices z au?oriz$ "u section #caji ( title #e1 ,unit$ ,/ates ,code1 at daily rates n to exce$ ! equival5t rate prescrib$ = grade ,,gs-#ae ( ! ,g5]al ,s*$ule by section #eccb ( t title4 7#c7 ,contracts ,! ,special ,inspector ,g5]al may ent] into contracts & o!r arrangem5ts = audits1 /udies1 analyses1 & o!r s]vices ) public ag5cies & ) private p]sons & make su* paym5ts z may be necess>y to c>ry out ! duties ( ! ,inspector ,g5]al4 7#d7 ,reque/s = in=mation 7,a7 ,9 g5]al ,^u reque/ ( ! ,special ,inspector ,g5]al = in=mation or assi/ance f any dep>tm5t1 ag5cy1 or o!r entity ( ! ,f$]al ,gov]nm5t1 ! head ( t dep>tm5t1 ag5cy1 or entity %all1 to ! ext5t practicable & n 9 contrav5tion ( any exi/+ law1 furni% t in=mation or assi/ance to ! ,special ,inspector ,g5]al1 or an au?oriz$ designee4 7,b7 ,refusal to provide reque/$ in=mation ,:5ev] in=mation or assi/ance reque/$ by ! ,special ,inspector ,g5]al is1 9 ! judgm5t ( ! ,special ,inspector ,g5]al1 unreasonably refus$ or n provid$1 ! ,special ,inspector ,g5]al %all report ! circum/ances to ! appropriate committees ( ,congress )\t delay4 7f7 ,reports 7#a7 ,qu>t]ly reports 7,a7 ,9 g5]al ,n lat] ?an #fj cal5d> days aft] ! date on :i* ! ,special ,inspector ,g5]al is confirm$1 & once e cal5d> qu>t] !reaft]1 ! ,special ,inspector ,g5]al %all submit to ! appropriate committees ( ,congress a report summ>iz+ ! activities ( ! ,special ,inspector ,g5]al dur+ ! #c-mon? p]iod end+ on ! date on :i* ! ,special ,inspector ,g5]al submits ! report4 7,b7 ,cont5ts ,ea* report submitt$ "u subp>agraph 7,a7 %all include1 = ! p]iod cov]$ by ! report1 a detail$ /atem5t ( all recov]y comp5sation paym5ts made "u ?is ,act1 z well z ! in=mation collect$ "u subsection 7c77#a74 7#b7 ,rule ( con/ruction ,no?+ 9 ?is subsection may be con/ru$ to au?orize ! public disclosure ( in=mation t is-- 7,a7 specifically prohibit$ f disclosure by any o!r provision ( law2 7,b7 specifically requir$ by ,executive ord] to be protect$ f disclosure 9 ! int]e/ ( national def5se or national security or 9 ! conduct ( =eign affairs2 or 7,c7 a "p ( an ongo+ crim9al inve/igation4 7g7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ su* sums z may be necess>y to pay ! adm9i/rative & support co/s = ! ,special ,inspector ,g5]al to c>ry out ?is section4 7h7 ,t]m9ation ,! ,(fice ( ! ,special ,inspector ,g5]al %all t]m9ate on ! date t is #a ye> aft] ! closure ( ! ,fund by ! ,special ,adm9i/rator "u ?is ,act4 7i7 ,c\ncil ( ! ,inspectors ,g5]al on integrity & effici5cy ,! ,special ,inspector ,g5]al %all be a memb] ( ! ,c\ncil ( ! ,inspectors ,g5]al on ,integrity & ,effici5cy e/abli%$ "u section #aa ( ! ,inspector ,g5]al ,act ( #aigh 7#e ,u4,s4,c4 ,app47 until ! date ( t]m9ation ( ! ,(fice ( ! ,special ,inspector ,g5]al4 7j7 ,corrective responses to audit problems ,! ,secret>y %all-- 7#a7 take action to address defici5cies id5tifi$ by a report or inve/igation ( ! ,special ,inspector ,g5]al2 or 7#b7 ) respect to a defici5cy id5tifi$ "u p>agraph 7#a71 c]tify to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 ! ,committee on ,f9ance ( ! ,s5ate1 ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives1 & ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives t no action is necess>y or appropriate4 #aj4 ,congressional ,ov]sight ,bo>d 7a7 ,e/abli%m5t ,!re is h]eby e/abli%$ ! ,congressional ,ov]sight ,bo>d 7h]eaft] 9 ?is section ref]r$ to z ! ,ov]sight ,bo>d7 z an e/abli%m5t 9 ! legislative bran*4 7b7 ,duties 7#a7 ,9 g5]al ,! ,ov]sight ,bo>d %all-- 7,a7 conduct ov]sight ( ! implem5tation ( ?is ,act by ! ,dep>tm5t ( ! ,treasury1 includ+ ef=ts ( ! ,special ,adm9i/rator to provide economic support = bus9esses z a result ( ! coronavirus disease #bjai 7,,covid-#ai7 p&emic ( #bjbj2 7,b7 submit to ,congress reports "u p>agraph 7#b72 & 7,c7 review ! implem5tation ( ?is ,act by ! ,f$]al ,gov]nm5t4 7#b7 ,regul> reports 7,a7 ,9 g5]al ,reports ( ! ,ov]sight ,bo>d %all include ! foll[+3 7i7 ,! use by ! ,special ,adm9i/rator ( au?ority "u ?is ,act1 includ+ ) respect to ! use ( contract+ au?ority & adm9i/ration ( ! provisions ( ?is ,act4 7ii7 ,! impact ( recov]y comp5sation made "u ?is ,act on ! f9ancial well-be+ ( ! p ( ! ,unit$ ,/ates & ! ,unit$ ,/ates economy4 7iii7 ,! ext5t to :i* ! ,special ,adm9i/rator has prioritiz$ comp5sation "u ?is ,act4 7iv7 ,! effectiv5ess ( recov]y comp5sation made "u ?is ,act ( m9imiz+ long-t]m co/s to ! taxpay]s & maximiz+ ! b5efits = taxpay]s4 7,b7 ,tim+ ,! reports requir$ "u ?is p>agraph %all be submitt$ n lat] ?an #cj cal5d> days aft] ! appo9tm5t ( ! ,special ,adm9i/rator & e #cj cal5d> days !reaft]4 7#c7 ,audit+ ,! ,ov]sight ,bo>d %all contract ) a public acc\nt+ firm regi/]$ by ! ,public ,company ,acc\nt+ ,ov]sight ,bo>d "u section #aja7;c7 ( ! ,s>banes-,oxley ,act 7#ae ,u4,s4,c4 #gbaa7;c77 to conduct indep5d5t audits ( ! recov]y comp5sation program e/abli%$ "u ?is ,act4 7c7 ,memb]%ip 7#a7 ,9 g5]al ,! ,ov]sight ,bo>d %all consi/ ( #e memb]s z foll[s3 7,a7 ,"o memb] appo9t$ by ! ,speak] ( ! ,h\se ( ,repres5tatives4 7,b7 ,"o memb] appo9t$ by ! m9ority lead] ( ! ,h\se ( ,repres5tatives4 7,c7 ,"o memb] appo9t$ by ! majority lead] ( ! ,s5ate4 7,d7 ,"o memb] appo9t$ by ! m9ority lead] ( ! ,s5ate4 7,e7 ,"o memb] appo9t$ z ,*airp]son by ! ,speak] ( ! ,h\se ( ,repres5tatives & ! majority lead] ( ! ,s5ate1 aft] consultation ) ! m9ority lead] ( ! ,s5ate & ! m9ority lead] ( ! ,h\se ( ,repres5tatives4 7#b7 ,pay ,ea* memb] ( ! ,ov]sight ,bo>d %all be paid at a rate equal to ! daily equival5t ( ! annual rate ( basic pay = level ,i ( ! ,executive ,s*$ule = ea* day 7includ+ travel "t7 dur+ :i* su* memb] is engag$ 9 ! actual p]=mance ( duties ve/$ 9 ! ,ov]sight ,bo>d4 ,ea* memb] %all be subject to ! prohibition on acts affect+ p]sonal f9ancial int]e/ "u section #bjh ( title #ah1 ,unit$ ,/ates ,code1 & %all be subject to limitations on outside employm5t & outside income pursuant to title ,v ( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4 ,app474 7#c7 ,prohibition ( comp5sation ( ,f$]al employees ,memb]s ( ! ,ov]sight ,bo>d :o are full-"t (fic]s or employees ( ! ,unit$ ,/ates may n receive additional pay1 all[ances1 or b5efits by reason ( _! s]vice on ! ,ov]sight ,bo>d4 7#d7 ,travel exp5ses ,ea* memb] %all receive travel exp5ses1 includ+ p] diem 9 lieu ( subsi/5ce1 9 accordance ) applicable provisions "u sub*apt] ,i ( *apt] #eg ( title #e1 ,unit$ ,/ates ,code4 7#e7 ,quorum ,f\r memb]s ( ! ,ov]sight ,bo>d %all con/itute a quorum1 b a less] numb] may hold he>+s4 7#f7 ,vacancies ,a vacancy on ! ,ov]sight ,bo>d %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7#g7 ,meet+s ,! ,ov]sight ,bo>d %all meet at ! call ( ! ,*airp]son or a majority ( its memb]s4 7d7 ,/aff 7#a7 ,9 g5]al ,! ,ov]sight ,bo>d may appo9t & fix ! pay ( any p]sonnel z ! ,ov]sight ,bo>d consid]s appropriate4 7#b7 ,exp]ts & consultants ,! ,ov]sight ,bo>d may procure tempor>y & int]mitt5t s]vices "u section #caji7;b7 ( title #e1 ,unit$ ,/ates ,code4 7#c7 ,/aff ( ag5cies ,^u reque/ ( ! ,ov]sight ,bo>d1 ! head ( any ,f$]al dep>tm5t or ag5cy may detail1 on a reimbursable basis1 any ( ! p]sonnel ( t dep>tm5t or ag5cy to ! ,ov]sight ,bo>d to assi/ x 9 c>ry+ out its duties "u ?is ,act4 7e7 ,p[]s 7#a7 ,he>+s & evid5ce ,! ,ov]sight ,bo>d1 or any subcommittee or memb] !re(1 may1 = ! purpose ( c>ry+ out ?is section hold he>+s1 sit & act at times & places1 take te/imony1 & receive evid5ce z ! ,ov]sight ,bo>d consid]s appropriate & may adm9i/] oa?s or affirmations to witnesses appe>+ be=e x4 7#b7 ,contract+ ,! ,ov]sight ,bo>d may1 to su* ext5t & 9 su* am\nts z are provid$ 9 appropriation ,acts1 ent] into contracts to enable ! ,ov]sight ,bo>d to dis*>ge its duties "u ?is section4 7#c7 ,p[]s ( memb]s & ag5ts ,any memb] or ag5t ( ! ,ov]sight ,bo>d may1 if au?oriz$ by ! ,ov]sight ,bo>d1 take any action :i* ! ,ov]sight ,bo>d is au?oriz$ to take by ?is section4 7#d7 ,obta9+ (ficial data ,! ,ov]sight ,bo>d may secure directly f any dep>tm5t or ag5cy ( ! ,unit$ ,/ates in=mation necess>y to enable x to c>ry out ?is section4 ,^u reque/ ( ! ,*airp]son ( ! ,ov]sight ,bo>d1 ! head ( t dep>tm5t or ag5cy %all furni% t in=mation to ! ,ov]sight ,bo>d4 7#e7 ,reports ,! ,ov]sight ,bo>d %all receive & consid] all reports requir$ to be submitt$ to ! ,ov]sight ,bo>d "u ?is ,act4 7f7 ,t]m9ation ,! ,ov]sight ,bo>d %all t]m9ate on ! date t is #a ye> aft] ! closure ( ! ,fund by ! ,special ,adm9i/rator "u subsection 7a77#d7 ( ?is ,act4 7g7 ,fund+ = exp5ses 7#a7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,ov]sight ,bo>d su* sums z may be necess>y = any fiscal ye>1 half ( :i* %all be d]iv$ f ! applicable acc\nt ( ! ,h\se ( ,repres5tatives1 & half ( :i* %all be d]iv$ f ! cont+5t fund ( ! ,s5ate4 7#b7 ,reimbursem5t ( am\nts ,an am\nt equal to ! exp5ses ( ! ,ov]sight ,bo>d %all be promptly transf]r$ by ! ,secret>y & ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 f "t to "t ^u ! pres5tm5t ( a /atem5t ( su* exp5ses by ! ,*airp]son ( ! ,ov]sight ,bo>d1 f funds made available to ! ,secret>y "u ?is ,act to ! applicable fund ( ! ,h\se ( ,repres5tatives & ! cont+5t fund ( ! ,s5ate1 z appropriate1 z reimbursem5t = am\nts exp5d$ f su* acc\nt & fund "u p>agraph 7#a74