,i #aafth ,,congress #b;d ,session ,h4 ,r4 #hjhg ,,in ,,the ,,house ,,of ,,representatives ,august #bb1 #bjbj ,mr4 ,chabot introduced the following bill2 which was referred to the ,committee on ,small ,business1 and in addition to the ,committees on the ,judiciary1 the ,budget1 and ,appropriations1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend the ,small ,business ,act and the ,,cares ,act to establish a program for second draw loans and make other modifications to the paycheck protection program1 and for other purposes4 #a4 ,additional eligible expenses 7a7 ,allowable use of ,,ppp loan ,section #g7;a77#cf77;,f77i7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,f77i77 is amended-- 7#a7 in subclause 7,,vi71 by striking and at the end2 7#b7 in subclause 7,,vii71 by striking the period at the end and inserting a semicolon2 and 7#c7 by adding at the end the following3 7,,viii7 covered operations expenditures1 as defined in section #aajf7;a7 of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7;a772 7,,ix7 covered property damage costs1 as defined in such section #aajf7;a72 7,x7 covered supplier costs1 as defined in such section #aajf7;a72 and 7,,xi7 covered worker protection expenditures1 as defined in such section #aajf7;a74 4 7b7 ,loan forgiveness ,section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 is amended-- 7#a7 in subsection 7a7-- 7,a7 by redesignating paragraphs 7#f71 7#g71 and 7#h7 as paragraphs 7#aj71 7#aa71 and 7#ab71 respectively2 7,b7 by redesignating paragraph 7#e7 as paragraph 7#h72 7,c7 by redesignating paragraph 7#d7 as paragraph 7#f72 7,d7 by redesignating paragraph 7#c7 as paragraph 7#d72 7,e7 by inserting after paragraph 7#b7 the following3 7#c7 the term covered operations expenditure means a payment for any business software or cloud computing service that facilitates business operations1 product or service delivery1 the processing1 payment1 or tracking of payroll expenses1 human resources1 sales and billing functions1 or accounting or tracking of supplies1 inventory1 records and expenses2 2 7,f7 by inserting after paragraph 7#d71 as so redesignated1 the following3 7#e7 the term covered property damage cost means a cost related to property damage and vandalism or looting due to public disturbances that occurred during #bjbj that was not covered by insurance or other compensation2 2 7,g7 by inserting after paragraph 7#f71 as so redesignated1 the following3 7#g7 the term covered supplier cost means an expenditure made by an entity to a supplier of goods pursuant to a contract in effect before ,february #ae1 #bjbj1 for the supply of goods that are essential to the operations of the entity at the time at which the expenditure is made2 2 7,h7 by inserting after paragraph 7#h71 as so redesignated1 the following3 7#i7 the term covered worker protection expenditure-- 7,a7 means an operating or a capital expenditure that is required to facilitate the adaptation of the business activities of an entity to comply with requirements established or guidance issued by the ,department of ,health and ,human ,services1 the ,centers for ,disease ,control1 or the ,occupational ,safety and ,health ,administration during the period beginning on ,march #a1 #bjbj1 and ending ,december #ca1 #bjbj1 related to the maintenance of standards for sanitation1 social distancing1 or any other worker or customer safety requirement related to ,,covid-#ai2 7,b7 may include-- 7i7 the purchase1 maintenance1 or renovation of assets that create or expand-- 7,i7 a drive-through window facility2 7,,ii7 an indoor1 outdoor1 or combined air or air pressure ventilation or filtration system2 7,,iii7 a physical barrier such as a sneeze guard2 7,,iv7 an indoor1 outdoor1 or combined commercial real property2 7,v7 an onsite or offsite health screening capability2 or 7,,vi7 other assets relating to the compliance with the requirements or guidance described in subparagraph 7,a71 as determined by the ,administrator in consultation with the ,secretary of ,health and ,human ,services and the ,secretary of ,labor2 and 7ii7 the purchase of-- 7,i7 covered materials described in section #cbh4ajc7;a7 of title #dd1 ,code of ,federal ,regulations1 or any successor regulation2 7,,ii7 particulate filtering facepiece respirators approved by the ,national ,institute for ,occupational ,safety and ,health1 including those approved only for emergency use authorization2 or 7,,iii7 other kinds of personal protective equipment1 as determined by the ,administrator in consultation with the ,secretary of ,health and ,human ,services and the ,secretary of ,labor2 and 7,c7 does not include residential real property or intangible property2 2 and 7,i7 in paragraph 7#aa71 as so redesignated-- 7i7 in subparagraph 7,c71 by striking and at the end2 7ii7 in subparagraph 7,d71 by striking and at the end2 and 7iii7 by adding at the end the following3 7,e7 covered operations expenditures2 7,f7 covered property damage costs2 7,g7 covered supplier costs2 and 7,h7 covered worker protection expenditures2 and 2 7#b7 in subsection 7b71 by adding at the end the following3 7#e7 ,any covered operations expenditure4 7#f7 ,any covered property damage cost4 7#g7 ,any covered supplier cost4 7#h7 ,any covered worker protection expenditure4 2 7#c7 in subsection 7d77#h71 by inserting any payment on any covered operations expenditure1 any payment on any covered property damage cost1 any payment on any covered supplier cost1 any payment on any covered worker protection expenditure1 after rent obligation12 and 7#d7 in subsection 7e7-- 7,a7 in paragraph 7#b71 by inserting payments on covered operations expenditures1 payments on covered property damage costs1 payments on covered supplier costs1 payments on covered worker protection expenditures1 after lease obligations12 and 7,b7 in paragraph 7#c77;,b71 by inserting make payments on covered operations expenditures1 make payments on covered property damage costs1 make payments on covered supplier costs1 make payments on covered worker protection expenditures1 after rent obligation14 #b4 ,lender safe harbor ,subsection 7h7 of section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 is amended to read as follows3 7h7 ,hold harmless 7#a7 ,in general ,a lender may rely on any certification or documentation submitted by an applicant for a covered loan or an eligible recipient of a covered loan that-- 7,a7 is submitted pursuant to any statutory requirement relating to covered loans or any rule or guidance issued to carry out any action relating to covered loans2 and 7,b7 attests that the applicant or eligible recipient1 as applicable1 has accurately verified any certification or documentation provided to the lender4 7#b7 ,no enforcement action ,with respect to a lender that relies on a certification or documentation described in paragraph 7#a7-- 7,a7 an enforcement action may not be taken against the lender acting in good faith relating to origination or forgiveness of a covered loan based on such reliance2 and 7,b7 the lender acting in good faith shall not be subject to any penalties relating to origination or forgiveness of a covered loan based on such reliance4 4 #c4 ,selection of covered period for forgiveness ,section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 is amended-- 7#a7 by amending subsection 7a77#d7 7as redesignated by section #a7 to read as follows3 7#d7 the term covered period means the period-- 7,a7 beginning on the date of the origination of a covered loan2 and 7,b7 ending on a date selected by the eligible recipient of the covered loan that occurs during the period-- 7i7 beginning on the date that is #h weeks after such date of origination2 and 7ii7 ending on ,december #ca1 #bjbj2 2 and 7#b7 by striking subsection 7l74 #d4 ,simplified application ,section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje71 as amended by section #c of this ,act1 is amended-- 7#a7 in subsection 7e71 in the matter preceding paragraph 7#a71 by striking ,an eligible and inserting ,except as provided in subsection 7l71 an eligible2 7#b7 in subsection 7f71 by inserting or the information required under subsection 7l71 as applicable after subsection 7e72 and 7#c7 by adding at the end the following3 7l7 ,simplified application 7#a7 ,covered loans under #aej1jjj 7,a7 ,in general ,notwithstanding subsection 7e71 with respect to a covered loan made to an eligible recipient that is not more than #aej1jjj1 the covered loan amount shall be forgiven under this section if the eligible recipient-- 7i7 signs and submits to the lender an attestation that the eligible recipient made a good faith effort to comply with the requirements under section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf772 and 7ii7 for the #c-year period following submission of the attestation under clause 7i71 retains records relevant to the attestation that prove compliance with those requirements4 7,b7 ,demographic information ,an eligible recipient of a covered loan described in subparagraph 7,a7 may complete and submit any form related to borrower demographic information4 7,c7 ,audit ,the ,administrator may-- 7i7 review and audit covered loans described in subparagraph 7,a72 and 7ii7 in the case of fraud1 ineligibility1 or other material noncompliance with applicable loan or loan forgiveness requirements1 modify-- 7,i7 the amount of a covered loan described in subparagraph 7,a72 or 7,,ii7 the loan forgiveness amount with respect to a covered loan described in subparagraph 7,a74 7#b7 ,covered loans between #aej1jjj and #b1jjj1jjj 7,a7 ,in general ,notwithstanding subsection 7e71 with respect to a covered loan made to an eligible recipient that is more than #aej1jjj and not more than #b1jjj1jjj-- 7i7 the eligible recipient seeking loan forgiveness under this section-- 7,i7 is not required to submit the supporting documentation described in paragraph 7#a7 or 7#b7 of subsection 7e7 or the certification described in subsection 7e77#c77;,a72 7,,ii7 shall retain all relevant schedules1 worksheets1 and supporting documentation for the #c-year period following submission of the application for loan forgiveness2 and 7,,iii7 may complete and submit any form related to borrower demographic information2 7ii7 review by the lender of an application submitted by the eligible recipient for loan forgiveness under this section shall be limited to whether the lender received a complete application1 with all fields completed1 initialed1 or signed1 as applicable2 and 7iii7 the lender shall-- 7,i7 accept the application submitted by the eligible recipient for loan forgiveness under this section2 and 7,,ii7 submit the application to the ,administrator4 7,b7 ,audit ,the ,administrator may-- 7i7 review and audit covered loans described in subparagraph 7,a72 and 7ii7 in the case of fraud1 ineligibility1 or other material noncompliance with applicable loan or loan forgiveness requirements1 modify-- 7,i7 the amount of a covered loan described in subparagraph 7,a72 or 7,,ii7 the loan forgiveness amount with respect to a covered loan described in subparagraph 7,a74 7#c7 ,audit plan 7,a7 ,in general ,not later than #cj days after the date of enactment of this subsectoin1 the ,administrator shall submit to the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,small ,business of the ,house of ,representatives an audit plan that details-- 7i7 the policies and procedures of the ,administrator for conducting reviews and audits of covered loans2 and 7ii7 the metrics that the ,administrator shall use to determine which covered loans will be audited for each category of covered loans described in paragraphs 7#a7 and 7#b74 7,b7 ,reports ,not later than #cj days after the date on which the ,administrator submits the audit plan required under subparagraph 7,a71 and each month thereafter1 the ,administrator shall submit to the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,small ,business of the ,house of ,representatives a report on the review and audit activities of the ,administrator under this subsection1 which shall include-- 7i7 the number of active reviews and audits2 7ii7 the number of reviews and audits that have been ongoing for more than #fj days2 and 7iii7 any substantial changes made to the audit plan submitted under subparagraph 7,a74 4 #e4 ,group insurance payments as payroll costs ,section #g7;a77#cf77;,a77viii77,i77aa77,,ee7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,a77viii77,i77aa77,,ee77 is amended by inserting and other group insurance before benefits4 #f4 ,paycheck protection program second draw loans ,section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 is amended by adding at the end the following3 7#cg7 ,paycheck protection program second draw loans 7,a7 ,definitions ,in this paragraph-- 7i7 the terms community financial institutions1 credit union1 eligible self-employed individual1 insured depository institution1 nonprofit organization1 payroll costs1 seasonal employer1 and veterans organization have the meanings given those terms in paragraph 7#cf71 except that eligible entity shall be substituted for eligible recipient each place it appears in the definitions of those terms2 7ii7 the term covered loan means a loan made under this paragraph2 7iii7 the terms covered mortgage obligation1 covered operating expenditure1 covered property damage cost1 covered rent obligation1 covered supplier cost1 covered utility payment1 and covered worker protection expenditure have the meanings given those terms in section #aajf7;a7 of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7;a772 7iv7 the term covered period means the period beginning on the date of the origination of a covered loan and ending on ,december #ca1 #bjbj2 7v7 the terms exchange1 issuer1 and security have the meanings given those terms in section #c7;a7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a772 7vi7 the term eligible entity-- 7,i7 means any business concern1 nonprofit organization1 veterans organization1 ,tribal business concern1 eligible self-employed individual1 sole proprietor1 independent contractor1 or small agricultural cooperative that-- 7aa7 7,,aa7 with respect to a business concern1 would qualify as a small business concern by the annual receipts size standard 7if applicable7 established by section #aba4bja of title #ac1 ,code of ,federal ,regulations1 or any successor regulation2 or 7,,bb7 if the entity does not qualify as a small business concern1 meets the alternative size standard established under section #c7;a77#e72 7bb7 employs not more than #cjj employees2 and 7cc7 7,,aa7 except as provided in subitems 7,,bb71 7,,cc71 and 7,,dd71 had gross receipts during the first or second quarter in #bjbj that are not less than #ce percent less than the gross receipts of the entity during the same quarter in #bjai2 7,,bb7 if the entity was not in business during the first or second quarter of #bjai1 but was in business during the third and fourth quarter of #bjai1 had gross receipts during the first or second quarter of #bjbj that are less than #ce percent of the amount of the gross receipts of the entity during the third or fourth quarter of #bjai2 7,,cc7 if the entity was not in business during the first1 second1 or third quarter of #bjai1 but was in business during the fourth quarter of #bjai1 had gross receipts during the first or second quarter of #bjbj that are less than #ce percent of the amount of the gross receipts of the entity during the fourth quarter of #bjai2 or 7,,dd7 if the entity was not in business during #bjai1 but was in operation on ,february #ae1 #bjbj1 had gross receipts during the second quarter of #bjbj that are less than #ce percent of the amount of the gross receipts of the entity during the first quarter of #bjbj2 and 7,,ii7 does not include-- 7aa7 an issuer1 the securities of which are listed on an exchange registered a national securities exchange under section #f of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;f72 7bb7 any entity that-- 7,,aa7 is a type of business concern described in subsection 7b71 7c71 7d71 7e71 7f71 7h71 7l7 7m71 7p71 7q71 7r71 or 7s7 of section #abj4aaj of title #ac1 ,code of ,federal ,regulations1 or any successor regulation2 7,,bb7 is a type of business concern described in section #abj4aaj7;g7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 except as otherwise provided in the interim final rule of the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program--,additional ,eligibility ,criteria and ,requirements for ,certain ,pledges of ,loans 7#he ,fed4 ,reg4 #bagdg 7,april #bj1 #bjbj772 7,,cc7 is a type of business concern described in section #abj4aaj7;i7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 except if the business concern is an organization described in paragraph 7#cf77;,d77vii72 7,,dd7 is a type of business concern described in section #abj4aaj7;j7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 except as otherwise provided in the interim final rules of the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program--,eligibility of ,certain ,electric ,cooperatives 7#he ,fed4 ,reg4 #bihdg 7,may #ai1 #bjbj77 and ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program--,eligibility of ,certain ,telephone ,cooperatives 7#he ,fed4 ,reg4 #ceeej 7,june #aa1 #bjbj77 or any other guidance or rule issued or that may be issued by the ,administrator2 7,,ee7 is a type of business concern described in section #abj4aaj7n7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 except as otherwise provided in the interim final rule of the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program--,additional ,eligibility ,revisions to ,first ,interim ,final ,rule 7#he ,fed4 ,reg4 #chcja 7,june #bf1 #bjbj77 or any other guidance or rule issued or that may be issued by the ,administrator2 7,,ff7 is a type of business concern described in section #abj4aaj7o7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 except as otherwise provided in any guidance or rule issued or that may be issued by the ,administrator2 or 7,,gg7 is an entity that is organized for research or for engaging in advocacy in areas such as public policy or political strategy or otherwise describes itself as a think tank in any public documents2 7,,hh7 is an entity that would be described in the subsections listed in subitems 7,,aa7 through 7,,gg7 if the entity were a business concern2 or 7,,ii7 is assigned1 or was approved for a loan under paragraph 7#cf7 with1 a ,north ,american ,industry ,classification ,system code beginning with #eb2 7cc7 any business concern or entity primarily engaged in political or lobbying activities1 which shall include any entity that is organized for research or for engaging in advocacy in areas such as public policy or political strategy or otherwise describes itself as a think tank in any public documents2 or 7dd7 any business concern or entity-- 7,,aa7 for which an entity created in or organized under the laws of the ,people's ,republic of ,china or the ,special ,administrative ,region of ,hong ,kong1 or that has significant operations in the ,people's ,republic of ,china or the ,special ,administrative ,region of ,hong ,kong1 owns or holds1 directly or indirectly1 not less than #bj percent of the economic interest of the business concern or entity1 including as equity shares or a capital or profit interest in a limited liability company or partnership2 or 7,,bb7 that retains1 as a member of the board of directors of the business concern1 a person who is a resident of the ,people's ,republic of ,china2 and 7vii7 the term ,tribal business concern means a ,tribal business concern described in section #ca7;b77#b77;,c74 7,b7 ,loans ,except as otherwise provided in this paragraph1 the ,administrator may guarantee covered loans to eligible entities under the same terms1 conditions1 and processes as a loan made under paragraph 7#cf74 7,c7 ,maximum loan amount 7i7 ,in general ,except as otherwise provided in this subparagraph1 the maximum amount of a covered loan made to an eligible entity is the lesser of-- 7,i7 the product obtained by multiplying-- 7aa7 the average total monthly payment for payroll costs incurred or paid by the eligible entity during the #a-year period before the date on which the loan is made2 by 7bb7 #b4e2 or 7,,ii7 #b1jjj1jjj4 7ii7 ,seasonal employers ,the maximum amount of a covered loan made to an eligible entity that is a seasonal employer is the lesser of-- 7,i7 the product obtained by multiplying-- 7aa7 at the election of the eligible entity1 the average total monthly payments for payroll costs incurred or paid by the eligible entity-- 7,,aa7 for a #ab-week period beginning ,february #ae1 #bjai1 or ,march #a1 #bjai1 and ending ,june #cj1 #bjai2 or 7,,bb7 for a consecutive #ab-week period between ,may #a1 #bjai1 and ,september #ae1 #bjai2 by 7bb7 #b4e2 or 7,,ii7 #a1jjj1jjj4 7iii7 ,new entities ,the maximum amount of a covered loan made to an eligible entity that did not exist during the #a-year period preceding ,february #ae1 #bjbj1 is the lesser of-- 7,i7 the product obtained by multiplying-- 7aa7 the quotient obtained by dividing-- 7,,aa7 the sum of the total monthly payments by the eligible entity for payroll costs paid or incurred by the eligible entity as of the date on which the eligible entity applies for the covered loan2 by 7,,bb7 the number of months in which those payroll costs were paid or incurred2 by 7bb7 #b4e2 or 7,,ii7 #b1jjj1jjj4 7iv7 ,business concerns with more than #a physical location 7,i7 ,in general ,any eligible entity that employs not more than #cjj employees per physical location of the eligible entity and that is assigned a ,north ,american ,industry ,classification ,system ,code beginning with #gb at the time of disbursal shall be eligible to receive a covered loan4 7,,ii7 ,limit for multiple locations ,with respect to an eligible entity with more than #a physical location1 the total amount of all covered loans shall be not more than #b1jjj1jjj4 7v7 ,loan number limitation ,an eligible entity may only receive #a covered loan4 7vi7 #ij day rule for maximum loan amount ,the maximum aggregate loan amount of loans guaranteed under this subsection that are approved for an eligible entity 7including any affiliates7 within #ij days of approval of another loan under this subsection for the eligible entity 7including any affiliates7 shall not exceed #aj1jjj1jjj4 7,d7 ,exception from certain certification requirements ,an eligible entity applying for a covered loan shall not be required to make the certification described in subclause 7,,iii7 or 7,,iv7 of paragraph 7#cf77;,g77i74 7,e7 ,fee waiver ,with respect to a covered loan-- 7i7 in lieu of the fee otherwise applicable under paragraph 7#bc77;,a71 the ,administrator shall collect no fee2 and 7ii7 in lieu of the fee otherwise applicable under paragraph 7#ah77;,a71 the ,administrator shall collect no fee4 7,f7 ,eligible churches and religious organizations 7i7 ,sense of congress ,it is the sense of ,congress that the interim final rule of the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program 7#he ,fed4 ,reg4 #bjhag 7,april #ae1 #bjbj77 properly clarified the eligibility of churches and religious organizations for loans made under paragraph 7#cf74 7ii7 ,applicability of prohibition ,the prohibition on eligibility established by section #abj4aaj7k7 of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 shall not apply to a covered loan4 7,g7 ,gross receipts for nonprofit and veterans organizations ,for purposes of calculating gross receipts under subparagraph 7,a77vi77,i77cc7 for an entity that is a nonprofit organization or a veterans organization1 gross receipts-- 7i7 shall include proceeds from fundraising events1 federated campaigns1 gifts1 donor-advised funds1 and funds from similar sources2 and 7ii7 shall not include-- 7,i7 ,federal grants 7excluding any loan forgiveness on loans received under paragraph 7#cf7 or this paragraph2 7,,ii7 revenues from a supporting organization2 7,,iii7 grants from private foundations that are disbursed over the course of more than #a calendar year2 or 7,,iv7 any contribution of property other than money1 stocks1 bonds1 and other securities1 provided that the non-cash contribution is not sold by the organization in a transaction unrelated to the tax-exempt purpose of the organization4 7,h7 ,loan forgiveness 7i7 ,in general ,except as provided otherwise provided in this subparagraph1 an eligible entity shall be eligible for forgiveness of indebtedness on a covered loan in the same manner as an eligible recipient with respect to a loan made under paragraph 7#cf71 as described in section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje74 7ii7 ,forgiveness amount ,an eligible entity shall be eligible for forgiveness of indebtedness on a covered loan in an amount equal to the sum of the following costs incurred or expenditures made during the covered period3 7,i7 ,payroll costs4 7,,ii7 ,any payment of interest on any covered mortgage obligation 7which shall not include any prepayment of or payment of principal on a covered mortgage obligation74 7,,iii7 ,any covered operations expenditure4 7,,iv7 ,any covered property damage cost4 7,v7 ,any payment on any covered rent obligation4 7,,vi7 ,any covered utility payment4 7,,vii7 ,any covered supplier cost4 7,,viii7 ,any covered worker protection expenditure4 7iii7 ,limitation on forgiveness for all eligible entities ,the forgiveness amount under this subparagraph shall be equal to the lesser of-- 7,i7 the amount described in clause 7ii72 and 7,,ii7 the amount equal to the quotient obtained by dividing-- 7aa7 the amount of the covered loan used for payroll costs during the covered period2 and 7bb7 #j4fj4 7,i7 ,lender eligibility ,except as otherwise provided in this paragraph1 a lender approved to make loans under paragraph 7#cf7 may make covered loans under the same terms and conditions as in paragraph 7#cf74 7,j7 ,reimbursement for loan processing and servicing ,the ,administrator shall reimburse a lender authorized to make a covered loan in an amount that is-- 7i7 #c percent of the principal amount of the financing of the covered loan up to #cej1jjj2 and 7ii7 #a percent of the principal amount of the financing of the covered loan above #cej1jjj1 if applicable4 7,k7 ,set aside for small entities ,not less than #be1jjj1jjj1jjj of the total amount of covered loans guaranteed by the ,administrator shall be made to eligible entities with not more than #aj employees as of ,february #ae1 #bjbj4 7,l7 ,set aside for community financial institutions1 small insured depository institutions1 credit unions1 and farm credit system institutions ,not less than #aj1jjj1jjj1jjj of the total amount of covered loans guaranteed by the ,administrator shall be made by-- 7i7 community financial institutions2 7ii7 insured depository institutions with consolidated assets of less than #aj1jjj1jjj1jjj2 7iii7 credit unions with consolidated assets of less than #aj1jjj1jjj1jjj2 and 7iv7 institutions of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq47 with consolidated assets of less than #aj1jjj1jjj1jjj 7not including the ,federal ,agricultural ,mortgage ,corporation74 7,m7 ,publication of guidance ,not later than #aj days after the date of enactment of this paragraph1 the ,administrator shall issue guidance addressing barriers to accessing capital for minority1 underserved1 veteran1 and women-owned business concerns for the purpose of ensuring equitable access to covered loans4 7,n7 ,standard operating procedure ,the ,administrator shall1 to the maximum extent practicable1 allow a lender approved to make covered loans to use existing program guidance and standard operating procedures for loans made under this subsection4 7,o7 ,compliance with oversight requirements 7i7 ,in general ,except as provided in clause 7ii71 on and after the date of enactment of this paragraph1 the ,administrator shall comply with any data or information requests or inquiries made by the ,comptroller ,general of the ,united ,states or the ,inspector ,general of any agency not later than #cj days 7or such later date as the ,comptroller ,general or ,inspector ,general1 as applicable1 may specify7 after receiving the request or inquiry4 7ii7 ,exception ,if the ,administrator is unable to comply with a request or inquiry described in clause 7i7 within the #cj-;day period or1 if applicable1 later period described in that clause1 the ,administrator shall1 during that #cj-;day 7or later7 period1 submit to the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,small ,business of the ,house of ,representatives a notification that includes a detailed justification for the inability of the ,administrator to comply with the request or inquiry4 7,p7 ,prohibition on use of proceeds for lobbying activities ,none of the proceeds of a covered loan may be used for lobbying activities1 as defined in section #c of the ,lobbying ,disclosure ,act of #aiie 7#b ,u4,s4,c4 #afjb74 4 #g4 ,continued access to the paycheck protection program 7a7 ,in general ,section #g7;a77#cf77;,e77ii7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,e77ii77 is amended by striking #aj1jjj1jjj and inserting #b1jjj1jjj4 7b7 ,applicability of maximum loan amount calculation 7#a7 ,definitions ,in this subsection1 the terms covered loan and eligible recipient have the meanings given those terms in section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf774 7#b7 ,applicability ,the amendment made by subsection 7a7 shall apply only with respect to a covered loan applied for by an eligible recipient on or after the date of enactment of this ,act4 #h4 ,increased ability for paycheck protection program borrowers to request an increase in loan amount due to updated regulations 7a7 ,definitions ,in this section1 the terms covered loan and eligible recipient have the meanings given those terms in section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf774 7b7 ,increased amount ,notwithstanding the interim final rule issued by the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program--,loan ,increases 7#he ,fed4 ,reg4 #bihdb 7,may #ai1 #bjbj771 an eligible recipient of a covered loan that is eligible for an increased covered loan amount as a result of any interim final rule that allows for covered loan increases may submit a request for an increase in the covered loan amount even if-- 7#a7 the initial covered loan amount has been fully disbursed2 or 7#b7 the lender of the initial covered loan has submitted to the ,administration a ,form #aejb report related to the covered loan4 #i4 ,calculation of maximum loan amount for farmers and ranchers under the paycheck protection program 7a7 ,in general ,section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf771 as amended by section #g of this ,act1 is amended-- 7#a7 in subparagraph 7,e71 in the matter preceding clause 7i71 by striking ,during and inserting ,except as provided in subparagraph 7,t71 during2 and 7#b7 by adding at the end the following3 7,t7 ,calculation of maximum loan amount for farmers and ranchers 7i7 ,definition ,in this subparagraph1 the term covered recipient means an eligible recipient that-- 7,i7 operates as a sole proprietorship or as an independent contractor1 or is an eligible self-employed individual2 7,,ii7 reports farm income or expenses on a ,schedule ,f 7or any equivalent successor schedule72 and 7,,iii7 was in business during the period beginning on ,february #ae1 #bjai1 and ending on ,june #cj1 #bjai4 7ii7 ,no employees ,with respect to covered recipient without employees1 the maximum covered loan amount shall be the lesser of-- 7,i7 the sum of-- 7aa7 the product obtained by multiplying-- 7,,aa7 the gross income of the covered recipient in #bjai1 as reported on a ,schedule ,f 7or any equivalent successor schedule71 that is not more than #ajj1jjj1 divided by #ab2 and 7,,bb7 #b4e2 and 7bb7 the outstanding amount of a loan under subsection 7b77#b7 that was made during the period beginning on ,january #ca1 #bjbj1 and ending on ,april #c1 #bjbj1 that the borrower intends to refinance under the covered loan1 not including any amount of any advance under the loan that is not required to be repaid2 or 7,,ii7 #b1jjj1jjj4 7iii7 ,with employees ,with respect to a covered recipient with employees1 the maximum covered loan amount shall be calculated using the formula described in subparagraph 7,e71 except that the gross income of the covered recipient described in clause 7ii77,i77aa77,,aa7 of this subparagraph1 as divided by #ab1 shall be added to the sum calculated under subparagraph 7,e77i77,i74 7iv7 ,recalculation ,a lender that made a covered loan to a covered recipient before the date of enactment of this subparagraph may1 at the request of the covered recipient-- 7,i7 recalculate the maximum loan amount applicable to that covered loan based on the formula described in clause 7ii7 or 7iii71 as applicable1 if doing so would result in a larger covered loan amount2 and 7,,ii7 provide the covered recipient with additional covered loan amounts based on that recalculation4 4 #aj4 ,farm ,credit ,system institutions 7a7 ,definition of ,farm ,credit ,system institution ,in this section1 the term ,farm ,credit ,system institution-- 7#a7 means an institution of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq472 and 7#b7 does not include the ,federal ,agricultural ,mortgage ,corporation4 7b7 ,facilitation of participation in ,,ppp and second draw loans 7#a7 ,applicable rules ,solely with respect to loans under paragraphs 7#cf7 and 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 ,farm ,credit ,administration regulations and guidance issued as of ,july #ad1 #bjbj1 and compliance with such regulations and guidance1 shall be deemed functionally equivalent to requirements referenced in section #c7;a77iii77,,ii7 of the interim final rule of the ,administration entitled ,business ,loan ,program ,temporary ,changes2 ,paycheck ,protection ,program 7#he ,fed4 ,reg4 #bjhaa 7,april #ae1 #bjbj77 or any similar requirement referenced in that interim final rule in implementing such paragraph 7#cg74 7#b7 ,applicability of certain loan requirements ,for purposes of making loans under paragraph 7#cf7 or 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 or forgiving those loans in accordance with section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 and subparagraph 7,h7 of such paragraph 7#cg71 sections #d4ac1 #d4ad1 and #d4ad;,a of the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #baii1 #bbjb1 #bbjb;a7 7including regulations issued under those sections7 shall not apply4 7#c7 ,risk weight 7,a7 ,in general ,with respect to the application of ,farm ,credit ,administration capital requirements1 a loan described in subparagraph 7,b7-- 7i7 shall receive a risk weight of zero percent2 and 7ii7 shall not be included in the calculation of any applicable leverage ratio or other applicable capital ratio or calculation4 7,b7 ,loans described ,a loan referred to in subparagraph 7,a7 is-- 7i7 a loan made by a ,farm ,credit ,bank described in section #a4b7;a7 of the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjjb7;a77 to a ,federal ,land ,bank ,association1 a ,production ,credit ,association1 or an agricultural credit association described in that section to make loans under paragraph 7#cf7 or 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 or forgive those loans in accordance with section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 and subparagraph 7,h7 of such paragraph 7#cg72 or 7ii7 a loan made by a ,federal ,land ,bank ,association1 a ,production ,credit ,association1 an agricultural credit association1 or the bank for cooperatives described in section #a4b7;a7 of the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjjb7;a77 under paragraph 7#cf7 or 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a774 7#d7 ,reservation of loan guarantees ,section #g7;a77#cf77,s7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77,s77 is amended-- 7,a7 in clause 7i7-- 7i7 in subclause 7,i71 by striking and at the end2 7ii7 in subclause 7,,ii71 by striking the period at the end and inserting 2 and2 and 7iii7 by adding at the end the following3 7,,iii7 institutions of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq47 with consolidated assets of not less than #aj1jjj1jjj1jjj and less than #ej1jjj1jjj1jjj4 2 and 7,b7 in clause 7ii7-- 7i7 in subclause 7,,ii71 by striking and at the end2 7ii7 in subclause 7,,iii71 by striking the period at the end and inserting 2 and2 and 7iii7 by adding at the end the following3 7,,iv7 institutions of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq47 with consolidated assets of less than #aj1jjj1jjj1jjj4 4 #aa4 ,definition of seasonal employer 7a7 ,,ppp loans ,section #g7;a77#cf77;,a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,a77 is amended-- 7#a7 in clause 7xi71 by striking and at the end2 7#b7 in clause 7xii71 by striking the period at the end and inserting 2 and2 and 7#c7 by adding at the end the following3 7xiii7 the term seasonal employer means an eligible recipient that-- 7,i7 does not operate for more than #g months in any calendar year2 or 7,,ii7 during the preceding calendar year1 had gross receipts for any #f months of that year that were not more than #cc4cc percent of the gross receipts of the employer for the other #f months of that year4 4 7b7 ,loan forgiveness ,paragraph 7#ab7 of section #aajf7;a7 of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7;a771 as so redesignated by section #a7;b7 of this ,act1 is amended to read as follows3 7#ab7 the terms payroll costs and seasonal employer have the meanings given those terms in section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf774 4 #ab4 ,eligibility of #eja7;c77#f7 organizations for loans under the paycheck protection program ,section #g7;a77#cf77;,d7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,d77 is amended-- 7#a7 in clause 7v71 by inserting or whether an entity described in clause 7vii7 employs not more than #cjj employees1 after clause 7i77,i712 and 7#b7 by adding at the end the following3 7vii7 ,eligibility for certain #eja7;c77#f7 organizations 7,i7 ,in general ,except as provided in subclause 7,,ii71 any organization that is described in section #eja7;c77#f7 of the ,internal ,revenue ,code and that is exempt from taxation under section #eja7;a7 of such ,code 7excluding professional football leagues and organizations with the purpose of promoting or participating in a political campaign or other activity7 shall be eligible to receive a covered loan if-- 7aa7 the organization does not receive more than #aj percent of its receipts from lobbying activities2 7bb7 the lobbying activities of the organization do not comprise more than #aj percent of the total activities of the organization2 and 7cc7 the organization employs not more than #cjj employees4 7,,ii7 ,destination marketing organizations ,notwithstanding subclause 7,i71 during the covered period1 any destination marketing organization shall be eligible to receive a covered loan if-- 7aa7 the destination marketing organization does not receive more than #aj percent of its receipts from lobbying activities2 7bb7 the lobbying activities of the destination marketing organization do not comprise more than #aj percent of the total activities of the organization2 7cc7 the destination marketing organization employs not more than #cjj employees2 and 7dd7 the destination marketing organization-- 7,,aa7 is described in section #eja7;c7 of the ,internal ,revenue ,code and is exempt from taxation under section #eja7;a7 of such ,code2 or 7,,bb7 is a quasi-governmental entity or is a political subdivision of a ,state or local government1 including any instrumentality of those entities4 4 #ac4 ,prohibition on use of loan proceeds for lobbying activities ,section #g7;a77#cf77;,f7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77;,f77 is amended by adding at the end the following3 7vi7 ,prohibition ,none of the proceeds of a covered loan may be used for lobbying activities1 as defined in section #c of the ,lobbying ,disclosure ,act of #aiie 7#b ,u4,s4,c4 #afjb74 4 #ad4 ,effective date2 applicability ,the amendments made to paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 and title ,i of the ,,cares ,act 7,public ,law #aaf-acf7 under this ,act1 except for section #ag of this ,act1 shall be effective as if included in the ,,cares ,act and shall apply to any loan made pursuant to section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf774 #ae4 ,bankruptcy provisions 7a7 ,in general ,section #cfd of title #aa1 ,united ,states ,code1 is amended by adding at the end the following3 7g7 7#a7 ,the court1 after notice and a hearing1 may authorize a debtor in possession or a trustee that is authorized to operate the business of the debtor under section #aahc1 #aahd1 #abjc1 #abjd1 or #acjd of this title to obtain a loan under section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf771 and such loan shall be treated as a debt to the extent the loan is not forgiven under section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 with priority equal to a claim of the kind specified in subsection 7c77#a7 of this section4 7#b7 ,the trustee may incur debt described in paragraph 7#a7 notwithstanding any provision in a contract1 prior order authorizing the trustee to incur debt under this section1 prior order authorizing the trustee to use cash collateral under section #cfc1 or applicable law that prohibits the debtor from incurring additional debt4 7#c7 ,the court shall hold a hearing within #g days after the filing and service of the motion to obtain a loan described in paragraph 7#a74 4 7b7 ,allowance of administrative expenses ,section #ejc7;b7 of title #aa1 ,united ,states ,code1 is amended-- 7#a7 in paragraph 7#h77;,b71 by striking and at the end2 7#b7 in paragraph 7#i71 by striking the period at the end and inserting 2 and2 and 7#c7 by adding at the end the following3 7#aj7 any debt incurred under section #cfd7;g77#a7 of this title4 4 7c7 ,confirmation of plan for reorganization ,section #aaia of title #aa1 ,united ,states ,code1 is amended by adding at the end the following3 7f7 ,special provision related to ,,covid-#ai pandemic ,notwithstanding section #aabi7;a77#i77;,a7 of this title and subsection 7e7 of this section1 a plan that provides for payment of a claim of a kind specified in section #ejc7;b77#aj7 of this title may be confirmed under subsection 7b7 of this section if the plan proposes to make payments on account of such claim when due under the terms of the loan giving rise to such claim4 4 7d7 ,confirmation of plan for family farmers and fishermen ,section #abbe of title #aa1 ,united ,states ,code1 is amended by adding at the end the following3 7d7 ,notwithstanding section #abbb7;a77#b7 of this title and subsection 7b77#a7 of this section1 a plan that provides for payment of a claim of a kind specified in section #ejc7;b77#aj7 of this title may be confirmed if the plan proposes to make payments on account of such claim when due under the terms of the loan giving rise to such claim4 4 7e7 ,confirmation of plan for individuals ,section #acbe of title #aa1 ,united ,states ,code1 is amended by adding at the end the following3 7d7 ,notwithstanding section #acbb7;a77#b7 of this title and subsection 7b77#a7 of this section1 a plan that provides for payment of a claim of a kind specified in section #ejc7;b77#aj7 of this title may be confirmed if the plan proposes to make payments on account of such claim when due under the terms of the loan giving rise to such claim4 4 7f7 ,effective date2 ,sunset 7#a7 ,effective date ,the amendments made by subsections 7a7 through 7e7 shall-- 7,a7 take effect on the date on which the ,administrator of the ,small ,business ,administration submits to the ,director of the ,executive ,office for ,united ,states ,trustees a written determination that1 subject to satisfying any other eligibility requirements1 any debtor in possession or trustee that is authorized to operate the business of the debtor under section #aahc1 #aahd1 #abjc1 #abjd1 or #acjd of title #aa1 ,united ,states ,code1 would be eligible for a loan under section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf772 and 7,b7 apply to any case pending on or commenced on or after the date described in subparagraph 7,a74 7#b7 ,sunset 7,a7 ,in general ,if the amendments made by this section take effect under paragraph 7#a71 effective on the date that is #b years after the date of enactment of this ,act-- 7i7 section #cfd of title #aa1 ,united ,states ,code1 is amended by striking subsection 7g72 7ii7 section #ejc7;b7 of title #aa1 ,united ,states ,code1 is amended-- 7,i7 in paragraph 7#h77;,b71 by adding and at the end2 7,,ii7 in paragraph 7#i71 by striking 2 and at the end and inserting a period2 and 7,,iii7 by striking paragraph 7#aj72 7iii7 section #aaia of title #aa1 ,united ,states ,code1 is amended by striking subsection 7f72 7iv7 section #abbe of title #aa1 ,united ,states ,code1 is amended by striking subsection 7d72 and 7v7 section #acbe of title #aa1 ,united ,states ,code1 is amended by striking subsection 7d74 7,b7 ,applicability ,notwithstanding the amendments made by subparagraph 7,a7 of this paragraph1 if the amendments made by subsections 7a71 7b71 7c71 7d71 and 7e7 take effect under paragraph 7#a7 of this subsection1 such amendments shall apply to any case under title #aa1 ,united ,states ,code1 commenced before the date that is #b years after the date of enactment of this ,act4 #af4 ,conflicts of interest 7a7 ,definitions ,in this section3 7#a7 ,controlling interest ,the term controlling interest means owning1 controlling1 or holding not less than #bj percent1 by vote or value1 of the outstanding amount of any class of equity interest in an entity4 7#b7 ,covered entity 7,a7 ,definition ,the term covered entity means an entity in which a covered individual directly or indirectly holds a controlling interest4 7,b7 ,treatment of securities ,for the purpose of determining whether an entity is a covered entity1 the securities owned1 controlled1 or held by #b or more individuals who are related as described in paragraph 7#c77;,b7 shall be aggregated4 7#c7 ,covered individual ,the term covered individual means-- 7,a7 the ,president1 the ,vice ,president1 the head of an ,executive department1 or a ,member of ,congress2 and 7,b7 the spouse1 child1 son-in-law1 or daughter-in-law1 as determined under applicable common law1 of an individual described in subparagraph 7,a74 7#d7 ,executive department ,the term ,executive department has the meaning given the term in section #aja of title #e1 ,united ,states ,code4 7#e7 ,member of congress ,the term ,member of ,congress means a ,member of the ,senate or ,house of ,representatives1 a ,delegate to the ,house of ,representatives1 and the ,resident ,commissioner from ,puerto ,rico4 7#f7 ,equity interest ,the term equity interest means-- 7,a7 a share in an entity1 without regard to whether the share is-- 7i7 transferable2 or 7ii7 classified as stock or anything similar2 7,b7 a capital or profit interest in a limited liability company or partnership2 or 7,c7 a warrant or right1 other than a right to convert1 to purchase1 sell1 or subscribe to a share or interest described in subparagraph 7,a7 or 7,b71 respectively4 7b7 ,requirement ,the principal executive officer and the principal financial officer1 or individuals performing similar functions1 of an entity seeking to enter a transaction made under paragraph 7#cf7 or 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added and amended by this ,act1 shall1 before that transaction is approved1 disclose to the ,administrator whether the entity is a covered entity4 7c7 ,applicability ,the requirement under subsection 7b7-- 7#a7 shall apply with respect to any transaction made under paragraph 7#cf7 or 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added and amended by this ,act1 on or after the date of enactment of this ,act2 and 7#b7 shall not apply with respect to-- 7,a7 any transaction described in paragraph 7#a7 that was made before the date of enactment of this ,act2 or 7,b7 forgiveness under section #aajf of the ,,cares ,act 7#ae ,u4,s4,c4 #ijje7 or any other provision of law of any loan associated with any transaction described in paragraph 7#a7 that was made before the date of enactment of this ,act4 #ag4 ,funding 7a7 ,commitment authority 7#a7 ,,cares ,act amendments ,section #aajb7;b7 of the ,,cares ,act 7,public ,law #aaf-acf7 is amended-- 7,a7 in paragraph 7#a7-- 7i7 in the paragraph heading1 by inserting and second draw after ,,ppp2 7ii7 by striking ,august #h1 #bjbj and inserting ,december #ca1 #bjbj2 7iii7 by striking paragraph 7#cf7 and inserting paragraphs 7#cf7 and 7#cg72 and 7iv7 by striking #fei1jjj1jjj1jjj and inserting #gdi1jjj1jjj1jjj2 and 7,b7 by amending paragraph 7#b7 to read as follows3 7#b7 ,other #g7;a7 loans ,during fiscal year #bjbj1 the amount authorized for commitments for section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 under the heading ,small ,business ,administration--,business ,loans ,program ,account in the ,financial ,services and ,general ,government ,appropriations ,act1 #bjbj 7division ,c of ,public ,law #aaf-aic7 shall apply with respect to any commitments under such section #g7;a7 other than under paragraphs 7#cf7 and 7#cg7 of such section #g7;a74 4 7b7 ,direct appropriations 7#a7 ,rescission ,with respect to unobligated balances under the heading ,small ,business ,administration--,business ,loans ,program ,account1 ,,cares ,act as of the day before the date of enactment of this ,act1 #ajj1jjj1jjj1jjj shall be permanently rescinded4 7#b7 ,new direct appropriations ,there is appropriated1 out of amounts in the ,treasury not otherwise appropriated1 for the fiscal year ending ,september #cj1 #bjbj1 for an additional amount for ,small ,business ,administration--,business ,loans ,program ,account1 ,,cares ,act1 #aij1jjj1jjj1jjj1 to remain available under ,september #cj1 #bjba1 for the cost of guaranteed loans as authorized under paragraph 7#cf7 and 7#cg7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as amended and added by this ,act4 7c7 ,emergency designation 7#a7 ,in general ,the amounts provided under this section are designated as an emergency requirement pursuant to section #d7;g7 of the ,statutory ,pay-,as-,you-,go ,act of #bjaj 7#b ,u4,s4,c4 #icc7;g774 7#b7 ,designation in ,senate ,in the ,senate1 this section is designated as an emergency requirement pursuant to section #daab7;a7 of ,h4 ,con4 ,res4 #ga 7#aaeth ,congress71 the concurrent resolution on the budget for fiscal year #bjah4 #ah4 ,emergency rulemaking authority ,not later than #cj days after the date of enactment of this ,act1 the ,administrator shall issue regulations to carry out this ,act and the amendments made by this ,act without regard to the notice requirements under section #eec7;b7 of title #e1 ,united ,states ,code4 #ai4 ,definitions ,in this ,act3 7#a7 ,administration2 ,administrator ,the terms ,administration and ,administrator mean the ,small ,business ,administration and the ,administrator thereof4 7#b7 ,small business concern ,the term small business concern has the meaning given the term in section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb74