,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #hjdb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,augu/ #ad1 #bjbj,mrs4 ,hayes 7= h]self & ,mr4 ,delgado7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,agriculture1 & 9 addition to ! ,committee on ,ways & ,means1 = 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 provide = agricultural economic injury disa/] loans1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,help+ ,am]ica's ,f>m]s ,act4 #b4 ,agricultural economic injury disa/] loan 7a7 ,def9itions ,9 ?is section3 7#a7 ,eligible entity ,! t]m eligible entity means-- 7,a7 a produc]-- 7i7 ( horticulture1 nurs]y crops1 floriculture1 non-specialty crops1 wool1 live/ock1 dairy1 aquaculture1 or specialty crops2 or 7ii7 engag$ 9 ! production ( food & fib]2 or 7,b7 a f>m] or ran*]4 7#b7 ,l>ge eligible entity ,! t]m l>ge eligible entity means an eligible entity ) an adju/$ gross income ( great] ?an #ejj1jjj4 7#c7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,agriculture1 act+ ?r\gh ! ,adm9i/rator ( ! ,f>m ,s]vice ,ag5cy4 7#d7 ,small eligible entity ,! t]m small eligible entity means an eligible entity ) an adju/$ gross income ( less ?an or equal to #ejj1jjj4 7b7 ,agricultural economic injury disa/] loan program 7#a7 ,9 g5]al ,! ,secret>y %all c>ry out a program to make loans "u ?is subsection to small eligible entities = ! purposes describ$ 9 p>agraph 7#c74 7#b7 ,t]ms ( loans 7,a7 ,am\nt ( loan ,9 c>ry+ out ?is subsection1 ! ,secret>y %all make loans to small eligible entities 9 an am\nt less ?an or equal to #b1jjj1jjj4 7,b7 ,int]e/ rate ,a loan "u subp>agraph 7,a7 %all h an int]e/ rate equal to z]o p]c5t4 7,c7 ,repaym5t ,! ,secret>y %all e/abli% ! repaym5t t]ms ) respect to ea* loan to a small eligible entity "u ?is subsection1 except t su* repaym5t may n-- 7i7 beg9 be=e ! date t is #a ye> aft] ! date on :i* su* loan is made to su* small eligible entity2 & 7ii7 be = a p]iod ( less ?an #aj ye>s or a p]iod ( great] ?an #ae ye>s2 & 7,d7 ,waiv] ( c]ta9 requirem5ts ,) respect to a loan made "u ?is subsection 9 response to an economic disa/]1 ! ,secret>y %all waive-- 7i7 any rules relat$ ! p]sonal gu>antee on advances & loans ( n m ?an #bjj1jjj = all applicants2 7ii7 any requirem5t t ! small eligible entity exhau/ o!r loan options be=e apply+ = a loan "u ?is subsection2 & 7iii7 any requirem5t t an applicant ne$s to be 9 bus9ess = ! #a-ye> p]iod be=e ! disa/]1 except t no waiv] may be made = a bus9ess t 0 n 9 op]ation on ,janu>y #ca1 #bjbj4 7,e7 ,priority ,9 mak+ loans "u ?is subsection ! ,secret>y %all give priority to-- 7i7 small eligible entities locat$ 9 ,/ates mo/ impact$ by an economic disa/]1 z det]m9$ by ! ,secret>y2 7ii7 m9ority1 vet]an1 & wom5 f>m]s & ran*]s2 & 7iii7 su* o!r small eligible entities z ! ,secret>y det]m9es appropriate4 7#c7 ,use ( funds ,a small eligible entity t receives a loan "u ?is subsection %all use ! loan funds to-- 7,a7 provide paid sick leave to employees unable to "w due to ! direct effect ( an economic disa/]2 7,b7 ma9ta9 payroll to reta9 employees dur+ bus9ess disruptions or sub/antial sl[d[ns2 7,c7 meet increas$ co/s to obta9 mat]ials unavailable f ! applicant's orig9al s\rce due to int]rupt$ supply *a9s2 7,d7 make r5t or mortgage paym5ts2 7,e7 pur*ase p]sonal protective equipm5t2 & 7,f7 repay obligations t _c be met due to rev5ue losses4 7#d7 ,=giv5ess ,a small eligible entity %all be eligible = =giv5ess ( indebt$ness on a loan "u ?is subsection 9 an am\nt det]m9$ by ! ,secret>y bas$ on ! losses ( ! small eligible entity-- 7,a7 due to commodity price decreases dur+ an economic disa/]2 or 7,b7 rev5ue loss due to an economic disa/]1 includ+ f-- 7i7 cancel$ pur*as+ contracts or agreem5ts ) s*ools1 in/itutions1 food hubs1 & re/aurants2 7ii7 loss ( recurr+ deliv]ies ( f>m products to s*ools1 in/itutions1 food hubs1 & re/aurants2 or 7iii7 any o!r unexpect$ s\rce dur+ su* economic disa/]4 7c7 ,loan gu>antees ,! ,secret>y may gu>antee a loan made by l5d]s approv$ by ! ,f>m ,s]vice ,ag5cy to l>ge eligible entities if-- 7#a7 su* loan-- 7,a7 is = ! purposes describ$ 9 subsection 7b77#c72 7,b7 is 9 an am\nt great] ?an #b1jjj1jjj2 7,c7 has an int]e/ rate equal to or less ?an #a p]c5t2 & 7,d7 has a repaym5t t]m t-- 7i7 beg9s aft] ! date t is #a ye> aft] ! date on :i* su* loan is made an eligible entity2 & 7ii7 is = a p]iod ( n less ?an #ae ye>s & n great] ?an #bj ye>s2 & 7#b7 ! l5d] mak+ su* loan (f]s =giv5ess ( indebt$ness on su* loan "u su* t]ms z ! ,secret>y det]m9es are comm5surate ) ! loan =giv5ess "u subsection 7b77#d74 7d7 ,approval & ,ability ,to ,repay = ,small ,doll> ,loans ,) respect to a loan made "u subsection 7b7 9 response to an economic disa/]1 ! ,secret>y may-- 7#a7 approve an applicant bas$ solely on ! cr$it score ( ! applicant & %all n require an applicant to submit a tax return or a tax return transcript = su* approval2 or 7#b7 use alt]native appropriate me?ods to det]m9e an applicant's ability to repay4 7e7 ,em]g5cy grant 7#a7 ,9 g5]al ,an eligible entity t applies = a loan "u subsection 7b7 or a loan gu>antee "u subsection 7c7 9 response to an economic disa/] may reque/ t ! ,secret>y provide an advance t is1 subject to p>agraph 7#c71 9 ! am\nt reque/$ by su* applicant to su* applicant )9 #c days aft] ! ,secret>y receives an application f su* applicant4 7#b7 ,v]ification ,be=e disburs+ am\nts "u ?is subsection1 ! ,secret>y %all v]ify t ! applicant is an eligible entity by accept+ a self-c]tification f ! applicant "u p5alty ( p]jury pursuant to section #agdf ( title #bh ,unit$ ,/ates ,code4 7#c7 ,am\nt ,! am\nt ( an advance provid$ "u ?is subsection %all be n less ?an #bj1jjj4 7#d7 ,use ( funds ,an advance provid$ "u ?is subsection may be us$ to address any all[able purpose = a loan made "u subsection 7b7 or a loan gu>antee made "u subsection 7c74 7#e7 ,repaym5t ,an applicant %all n be requir$ to repay any am\nts ( an advance provid$ "u ?is subsection1 ev5 if subsequ5tly d5i$ a loan "u subsection 7b7 or a loan gu>antee "u subsection 7c74 7f7 ,o!r b5efits ,receipt ( a grant1 loan1 or loan gu>antee "u ?is section %all n be con/ru$ z to prohibit receipt ( any ,f$]al grant1 loan1 or o!r aid4 7g7 ,taxability ,= purposes ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 any am\nt :i* w\ld be includible 9 gross income ( ! eligible entity by reason ( =giv5ess describ$ 9 ?is p>agraph %all be exclud$ f gross income2 & 7#b7 any am\nt receiv$ "u ?is section %all be exclud$ f gross income4 7h7 ,fund+ ,!re is h]eby appropriat$1 out ( any am\nts 9 ! ,treasury n o!rwise appropriat$-- 7#a7 #f1jjj1jjj1jjj1 to rema9 available until ,septemb] #cj1 #bjba1 to make loans to small eligible entities "u ?is section2 7#b7 #f1jjj1jjj1jjj1 to rema9 available until ,septemb] #cj1 #bjba1 to make loan gu>antees to l>ge eligible entities "u ?is section2 7#c7 #d1jjj1jjj1jjj1 to rema9 available until ,septemb] #cj1 #bjba1 to make grants "u subsection 7e7 to small eligible entities2 & 7#d7 #d1jjj1jjj1jjj1 to rema9 available until ,septemb] #cj1 #bjba1 to make grants "u subsection 7e7 to l>ge eligible entities4 #c4 ,tra9+ = loan s]vic]s ,!re is h]eby appropriat$1 out ( any am\nts 9 ! ,treasury n o!rwise appropriat$1 #cjj1jjj1jjj1 to ! ,secret>y ( ,agriculture to c>ry out a tra9+ program to provide ,f>m ,s]vice ,ag5cy /aff ) appropriate tra9+ relat+ to economic injury loan process+ & s]vic+ "u section #b4