,,ii #aaf? ,,congress #b;d ,session ,s4 #ceed ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #bj1 #bjbj,mr4 ,c>d9 7= himself1 ,ms4 ,cantwell1 ,mrs4 ,%ahe51 ,mr4 ,m>key1 ,mr4 ,book]1 ,mr4 ,coons1 ,ms4 ,hirono1 ,ms4 ,duckwor?1 & ,ms4 ,ros57 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ,a ,,bill ,to provide assi/ance to small bus9esses impact$ by ,,covid-#ai1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,,covid-#ai ,recov]y by ,enhanc+ ,loan1 ,inve/m5t1 & ,education ,funds = ,small ,bus9esses ,act ( #bjbj or ! ,,covid-#ai ,,relief = ,small ,bus9esses ,act ( #bjbj4 #b4 ,f9d+s ,congress f9ds t-- 7#a7 ! #cj1gjj1jjj small bus9esses 9 ! ,unit$ ,/ates employ m ?an #dg p]c5t ( ! private work=ce2 7#b7 small bus9ess supply *a9 firms acc\nt = almo/ #a1jjj1jjj small bus9esses & ab\t #aj1jjj1jjj jobs1 play+ a key role 9 ! ,unit$ ,/ates supply *a9 by provid+ goods & s]vices to l>ge corporations & ,f$]al1 ,/ate1 & local gov]nm5t ag5cies2 7#c7 ! economic disruptions relat$ to ,,covid-#ai 9 ! ,unit$ ,/ates are unlike any t we h se5 9 ! pa/ c\ple ( decades2 7#d7 z a result ( ! global p&emic caus$ by ,,covid-#ai1 _m small bus9esses 9 ! ,unit$ ,/ates h suff]$ because-- 7,a7 _! supply *a9s h be5 disrupt$2 7,b7 _! e/abli%m5ts are exp]i5c+ decreas$ foot traffic & sales2 & 7,c7 _! employees :o h contract$ ! virus w ne$ paid "t (f to avoid infect+ o!rs2 7#e7 small bus9ess own]s affect$ by ,,covid-#ai are f9d+ x difficult or impossible to-- 7,a7 make loan paym5ts on exi/+ debts2 7,b7 pay _! employees2 7,c7 pay _! v5dors2 7,d7 pur*ase mat]ials1 supplies1 or inv5tory2 7,e7 pay _! r5t1 mortgage1 or o!r op]at+ exp5ses2 or 7,f7 secure f9anc+ = _! bus9ess2 7#f7 a significant numb] ( small bus9esses w n qualify = loans "u ! exi/+ disa/] loan program ( ! ,adm9i/ration2 7#g7 ! abs5ce ( res\rces = vuln]able small bus9esses t _c access programs ( ! ,adm9i/ration w und\bt$ly leave _m ( !m to fail2 & 7#h7 a new s\rce ( ,f$]al support is necess>y to help bus9esses t h no o!r place to turn4 #c4 ,purpose ,! purpose ( ?is ,act is to mitigate economic injury to small bus9ess conc]ns & /abilize ! ,unit$ ,/ates economy by /r5g!n+ ! loan1 inve/m5t1 procurem5t assi/ance1 & managem5t education programs ( ! ,adm9i/ration & by e/abli%+ a new grant program at ! ,adm9i/ration = ! small bus9ess conc]ns h>de/ hit by ,,covid-#ai4 #d4 ,def9itions ,9 ?is ,act-- 7#a7 ! t]m ,adm9i/ration & ,adm9i/rator mean ! ,small ,bus9ess ,adm9i/ration & ! ,adm9i/rator !re(2 & 7#b7 ! t]m small bus9ess conc]n has ! mean+ giv5 ! t]m 9 section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb74 #e4 ,economic injury grants = small bus9ess conc]ns 7a7 ,purpose ,! purpose ( ?is section is to-- 7#a7 make grants available to small bus9ess conc]ns affect$ by ,,covid-#ai t lack access to cr$it ?r\gh ! exi/+ disa/] loan program ( ! ,adm9i/ration2 & 7#b7 ensure res\rces are available = vuln]able small bus9ess conc]ns t are unlikely to survive )\t a new s\rce ( ,f$]al support4 7b7 ,def9ition ( eligible small bus9ess conc]n ,! t]m eligible small bus9ess conc]n means a small bus9ess conc]n t-- 7#a7 meets ! applicable size /&>d e/abli%$ "u section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb72 7#b7 has n less ?an #b employees & n m ?an #ej employees2 7#c7 due to ! effects ( ,,covid-#ai1 suff]$-- 7,a7 a loss ( rev5ue 9 #a mon? great] ?an #ej p]c5t z comp>$ to ! same mon? 9 ! previ\s ye>2 or 7,b7 9 ! case ( a bus9ess conc]n t has be5 9 op]ation = n less ?an #d mon?s1 a loss ( rev5ue 9 #a mon? great] ?an #ej p]c5t z comp>$ to ! av]age ( ! #c previ\s mon?s2 7#d7 c demon/rate an inability to pay obligations or /ay up-to-date on acc\nts or payroll2 & 7#e7 submitt$ an application = a loan "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 & 0 d5i$ assi/ance "u su* section because ! small bus9ess conc]n is unable to repay ! loan4 7c7 ,grants ,! ,adm9i/ration %all provide assi/ance to eligible small bus9ess conc]ns1 private nonpr(it organizations1 & small agricultural coop]atives t h suff]$ a sub/antial economic injury1 directly or indirectly1 z a result ( ,,covid-#ai4 7d7 ,aw>d+ ( grants & updates ,! ,adm9i/ration %all-- 7#a7 aw>d grants "u ?is section z exp$iti\sly z possible2 & 7#b7 on a mon?ly basis until ! date on :i* ! au?ority "u ?is section t]m9ates1 update ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip & ! ,committee on ,appropriations ( ! ,s5ate & ! ,committee on ,small ,bus9ess & ! ,committee on ,appropriations ( ! ,h\se ( ,repres5tatives on-- 7,a7 ! numb] ( grants aw>d$ "u ?is section2 & 7,b7 ! geographic di/ribution ( ! grants by ,/ate & c\nty4 7e7 ,am\nt ( grant 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 a grant provid$ "u ?is section %all be 9 an am\nt t is n m ?an #ej1jjj4 7#b7 ,increas$ grant am\nt ,! ,adm9i/rator may make a grant "u ?is section ( n m ?an #ajj1jjj if ! ,adm9i/rator demon/rates t do+ s is necess>y to assi/ eligible small bus9ess conc]ns1 private nonpr(it organizations1 & small agricultural coop]atives t ! ,adm9i/rator det]m9es are vital to _! local economies4 7#c7 ,s+le aw>d ,no eligible small bus9ess conc]n1 private nonpr(it organization1 or small agricultural coop]ative may receive or directly b5efit f m ?an #a aw>d made "u ?is section4 7f7 ,use ( funds ,an eligible small bus9ess conc]n1 private nonpr(it organization1 or small agricultural coop]ative t receives a grant "u ?is section may use ! grant funds to address ! effects ( ,,covid-#ai ?r\gh any ( ! p]missible uses ( funds "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b774 7g7 ,application 7#a7 ,9 g5]al ,an eligible small bus9ess conc]n1 private nonpr(it organization1 or small agricultural coop]ative desir+ a grant "u ?is section %all submit to ! ,adm9i/ration an application at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,adm9i/ration may require4 7#b7 ,priority ,! ,adm9i/rator %all-- 7,a7 e/abli% selection crit]ia to ensure t eligible small bus9ess conc]ns1 private nonpr(it organizations1 & small agricultural coop]atives t are h>de/ hit by ! effects ( ,,covid-#ai receive priority 9 ! ev5t t fund+ is n suffici5t to provide grants to all t submit applications "u p>agraph 7#a72 7,b7 id5tify indu/ry sectors = prioritization t h suff]$ uniquely & disproportionately f ,,covid-#ai2 & 7,c7 give priority to an applicant propos+ to use grant funds =-- 7i7 provid+ paid sick leave to employees unable to "w due to ! direct effects ( ,,covid-#ai2 7ii7 ma9ta9+ payroll to reta9 employees dur+ bus9ess disruptions or sub/antial sl[d[ns2 7iii7 mak+ r5t & mortgage paym5ts2 or 7iv7 repay+ obligations t _c be met due to rev5ue losses4 7h7 ,proc$ures ,! ,adm9i/rator %all e/abli% proc$ures to disc\rage & prev5t wa/e1 fraud1 & abuse by applicants & recipi5ts ( grants "u ?is section4 7i7 ,p5alties = fraud & misapplication ( funds ,any applicant or recipi5t ( a grant provid$ "u ?is section %all be subject to all applicable provisions ( ,f$]al law1 includ+ section #ajja ( title #ah1 ,unit$ ,/ates ,code1 & ! provisions ( section #abc4i ( title #ac1 ,code ( ,f$]al ,regulations1 or any successor regulation1 relat+ to ! misapplication ( loan proce$s %all apply to grants provid$ "u ?is section to ! same ext5t z if ^? grants 7 loans provid$ "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b774 7j7 ,inspector ,g5]al audit ,n lat] ?an #ahj days aft] ! date on :i* ! ,adm9i/rator beg9s to provide assi/ance "u ?is section1 ! ,inspector ,g5]al ( ! ,adm9i/ration %all-- 7#a7 conduct an audit ( grants made "u ?is section1 :i* %all id5tify any discrepancies or irregul>ities 9 ! grants2 & 7#b7 submit to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip & ! ,committee on ,appropriations ( ! ,s5ate & ! ,committee on ,small ,bus9ess & ! ,committee on ,appropriations ( ! ,h\se ( ,repres5tatives a copy ( ! audit conduct$ "u p>agraph 7#a74 7k7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,adm9i/ration #aj1jjj1jjj1jjj to c>ry out ?is section4 7l7 ,t]m9ation ,! au?ority to c>ry out grants "u ?is section %all t]m9ate on ,septemb] #cj1 #bjba4 #f4 ,economic injury disa/] loans 7a7 ,purpose ,! purpose ( ?is section is to ensure t own]s ( small bus9ess conc]ns h access to additional necess>y fund+ to cov] cont9uity-(-op]ation & risk mitigation improvem5ts4 7b7 ,def9ition ( eligible small bus9ess conc]n ,9 ?is section1 ! t]m eligible small bus9ess conc]n means a small bus9ess conc]n t-- 7#a7 meets ! applicable size /&>d e/abli%$ "u section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb72 & 7#b7 is receiv+ assi/ance "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 relat$ to ,,covid-#ai4 7c7 ,additional am\nts ,! ,adm9i/rator may increase by #bj p]c5t ! am\nt receiv$ by an eligible small bus9ess conc]n "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 to cov] cont9uity-(-op]ation & risk mitigation improvem5ts1 includ+ telework capability1 (fsite record keep+1 r$undancy1 ! adm9i/rative co/s ( e/abli%+ paid sick leave1 & pres5teeism prev5tion4 7d7 ,exp$it+ small economic injury disa/] loans ,) respect to a loan made "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 9 response to ,,covid-#ai1 if ! loan does n exce$ #cej1jjj1 ! ,adm9i/ration may-- 7#a7 approve an applicant bas$ solely on ! cr$it score ( ! applicant1 & 9 ?is circum/ance1 %all n require an applicant to submit a tax return or a tax return transcript2 or 7#b7 use o!r appropriate me?ods to det]m9e an applicant's ability to repay4 7e7 ,em]g5cies involv+ ,f$]al prim>y responsibility qualify+ = small bus9ess adm9i/ration assi/ance ,section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 is am5d$-- 7#a7 9 subp>agraph 7,a71 by /rik+ or at ! end2 7#b7 9 subp>agraph 7,b71 by /rik+ or at ! end2 7#c7 9 subp>agraph 7,c71 by /rik+ or at ! end2 7#d7 by r$esignat+ subp>agraph 7,d7 z subp>agraph 7,e72 7#e7 by ins]t+ aft] subp>agraph 7,c7 ! foll[+3 7,d7 an em]g5cy involv+ ,f$]al prim>y responsibility det]m9$ to exi/ by ! ,presid5t "u ! section #eja7;b7 ( ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 #eaia7;b772 or 2 7#f7 9 subp>agraph 7,e71 z s r$esignat$-- 7,a7 by /rik+ or 7,c7 & ins]t+ 7,c71 or 7,d72 7,b7 by /rik+ disa/] decl>ation ea* place x appe>s & ins]t+ disa/] or em]g5cy decl>ation2 7,c7 by /rik+ disa/] has occurr$ & ins]t+ disa/] or em]g5cy has occurr$2 7,d7 by /rik+ su* disa/] & ins]t+ su* disa/] or em]g5cy2 & 7,e7 by /rik+ disa/] /rick5 & ins]t+ disa/]- or em]g5cy-/rick52 & 7#g7 9 ! flu% matt] foll[+ subp>agraph 7,e71 by /rik+ ! p]iod at ! end & ins]t+ ! foll[+3 3 ,provid$ fur!r1 ,t = purposes ( subp>agraph 7,d71 ! ,adm9i/rator %all deem t su* an em]g5cy affects ea* ,/ate or subdivision !re( 7includ+ c\nties71 & t ea* ,/ate or subdivision has suffici5t economic damage to small bus9ess conc]ns to qualify = assi/ance "u ?is p>agraph & ! ,adm9i/rator %all accept applications = su* assi/ance imm$iately44 #g4 ,waiv]s on pr9cipal & int]e/ = #g7;a71 #ejd1 & microloans 7a7 ,def9ition ( cov]$ loan ,9 ?is section1 ! t]m cov]$ loan means a loan t is-- 7#a7 gu>ante$ by ! ,adm9i/ration "u-- 7,a7 section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a771 includ+ a loan made "u ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration1 ! ,export ,express ,program "u p>agraph 7#cd7 ( su* section #g7;a71 ! ,export ,work+ ,capital ,program "u p>agraph 7#ad7 ( su* section #g7;a71 or ! ,int]national ,trade ,loan ,program "u p>agraph 7#af7 ( su* section #g7;a72 or 7,b7 title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq472 or 7#b7 made by an int]m$i>y to a small bus9ess conc]n 7z def9$ 9 section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb77 us+ loans or grants receiv$ "u section #g7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m774 7b7 ,s5se ( ,congress ,x is ! s5se ( ,congress t-- 7#a7 all borr[]s are adv]sely affect$ by ,,covid-#ai2 7#b7 relief paym5ts by ! ,adm9i/ration are appropriate = all borr[]s2 & 7#c7 ! ,adm9i/ration %\ld enc\rage l5d]s to ext5d ! maturity ( cov]$ loans s z to avoid any increase 9 debt paym5ts by borr[]s at ! end ( ! def]ral p]iod4 7c7 ,int]e/ paym5ts 7#a7 ,9 g5]al ,! ,adm9i/rator %all pay ! pr9cipal1 int]e/1 & any associat$ fees t are ow$ on a cov]$ loan-- 7,a7 ) respect to a cov]$ loan made be=e ! date ( enactm5t ( ?is ,act1 = ! #f-mon? p]iod beg9n+ ) ! next paym5t due on ! cov]$ loan2 & 7,b7 ) respect to a cov]$ loan made dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ! date t is #f mon?s aft] su* date ( enactm5t1 = ! #f-mon? p]iod beg9n+ ) ! fir/ paym5t due on ! cov]$ loan4 7#b7 ,tim+ ( paym5t ,! ,adm9i/rator %all beg9 mak+ paym5ts "u p>agraph 7#a7 on a cov]$ loan n lat] ?an #cj days aft] ! date on :i* ! fir/ su* paym5t is due4 7#c7 ,application ( paym5t ,any paym5t made by ! ,adm9i/rator "u p>agraph 7#a7 %all be appli$ to ! cov]$ loan su* t ! borr[] is reliev$ ( ! obligation to pay t am\nt4 7d7 ,o!r requirem5ts ,! ,adm9i/rator %all-- 7#a7 communicate & coord9ate ) ! ,f$]al ,deposit ,insurance ,corporation1 ! ,(fice ( ! ,comptroll] ( ! ,curr5cy1 & ,/ate bank regulators to enc\rage ^? entities to n require l5d]s to increase _! res]ves on acc\nt ( receiv+ paym5ts made by ! ,adm9i/rator "u subsection 7c72 7#b7 waive /atutory limits on cov]$ loan durations = any l5d] t (f]s a def]ral & ext5ds ! maturity ( cov]$ loan products dur+ ! #a-ye> p]iod foll[+ ! date ( enactm5t ( ?is ,act2 & 7#c7 ext5d site visit requirem5ts to #fj days = cov]$ loan defaults & #ij days = nonpaym5t to provide m "t because ( ! pot5tial ( high] volumes1 travel re/rictions1 & ! inability to access "s prop]ties dur+ ! ,,covid-#ai p&emic4 7e7 ,rule ( con/ruction ,no?+ 9 ?is section may be con/ru$ to limit ! au?ority ( ! ,adm9i/rator to make paym5ts pursuant to subsection 7c7 ) respect to a cov]$ loan solely because ! cov]$ loan has be5 sold 9 ! second>y m>ket4 7f7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,adm9i/rator #af1hjj1jjj1jjj to c>ry out ?is section4 #h4 ,tempor>y fee r$uctions 7a7 ,purpose ,! purpose ( ! section is to waive borr[] & l5d] fees on loans1 includ+ a p]man5t fix to waive fees = vet]ans & _! sp\ses4 7b7 ,adm9i/rative fee waiv] 7#a7 ,9 g5]al ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 & to ! ext5t t ! co/ ( su* elim9ation or r$uction ( fees is (fset by appropriations1 ) respect to ea* loan gu>ante$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 7includ+ a recipi5t ( assi/ance "u ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration7 = :i* an application is approv$ or p5d+ approval on or aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all-- 7,a7 9 lieu ( ! fee o!rwise applicable "u section #g7;a77#bc77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#bc77;,a771 collect no fee or r$uce fees to ! maximum ext5t possible2 & 7,b7 9 lieu ( ! fee o!rwise applicable "u section #g7;a77#ah77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ah77;,a771 collect no fee or r$uce fees to ! maximum ext5t possible4 7#b7 ,application ( fee elim9ations or r$uctions ,to ! ext5t t am\nts are made available to ! ,adm9i/rator = ! purpose ( fee elim9ations or r$uctions "u p>agraph 7#a71 ! ,adm9i/rator %all-- 7,a7 fir/ use any am\nts provid$ to elim9ate or r$uce fees paid by small bus9ess borr[]s "u clauses 7i7 ?r\gh 7iii7 ( section #g7;a77#ah77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ah77;,a771 to ! maximum ext5t possible2 & 7,b7 !n use any am\nts provid$ to elim9ate or r$uce fees "u #g7;a77#bc77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#bc77;,a774 7c7 ,exception to gu>antee fee waiv] = vet]ans ,section #g7;a77#ca77;,g7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ca77;,g77 is am5d$-- 7#a7 by /rik+ clause 7ii72 & 7#b7 by r$esignat+ clause 7iii7 z clause 7ii74 7d7 ,tempor>y fee elim9ation = ! #ejd loan program 7#a7 ,9 g5]al ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 & to ! ext5t ! co/ ( su* elim9ation 9 fees is (fset by appropriations1 ) respect to ea* project or loan gu>ante$ by ! ,adm9i/rator pursuant to title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq47 = :i* an application is approv$ or p5d+ approval on or aft] ! date ( enactm5t ( ?is ,act-- 7,a7 ! ,adm9i/rator %all1 9 lieu ( ! fee o!rwise applicable "u section #ejc7;d77#b7 ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fig7;d77#b771 collect no fee2 & 7,b7 a developm5t company %all1 9 lieu ( ! process+ fee "u section #abj4iga7;a77#a7 ( title #ac1 ,code ( ,f$]al ,regulations 7relat+ to fees paid by borr[]s71 or any successor !reto1 collect no fee4 7#b7 ,reimbursem5t = waiv$ fees 7,a7 ,9 g5]al ,to ! ext5t t ! co/ ( su* paym5ts is (fset by appropriations1 ! ,adm9i/rator %all reimburse ea* developm5t company t does n collect a process+ fee pursuant to p>agraph 7#a77;,b74 7,b7 ,am\nt ,! paym5t to a developm5t company "u subp>agraph 7,a7 %all be 9 an am\nt equal to #a4e p]c5t ( ! net deb5ture proce$s = :i* ! developm5t company does n collect a process+ fee pursuant to p>agraph 7#a77;,b74 #i4 ,gu>antee am\nts 7a7 ,purpose ,! purpose ( ?is section is to increase loan gu>antee am\nts 9 ord] to mitigate risk = l5d]s & keep cr$it fl[+1 includ+ an emphasis on und]s]v$ borr[]s4 7b7 #g7;a7 loan gu>antees 7#a7 ,9 g5]al ,section #g7;a77#b77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#b77;,a77 is am5d$ by /rik+ 71 su* p>ticipation by ! ,adm9i/ration %all be equal to & all t foll[s ?r\gh ! p]iod at ! end & ins]t+ or ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration71 su* p>ticipation by ! ,adm9i/ration %all be equal to #ij p]c5t ( ! balance ( ! f9anc+ out/&+ at ! "t ( disbursem5t ( ! loan44 7#b7 ,t]m9ation ,effective ,septemb] #cj1 #bjba1 section #g7;a77#b77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#b77;,a771 z am5d$ by p>agraph 7#a71 is am5d$ to read z foll[s3 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraphs 7,b71 7,d71 & 7,e71 9 an agreem5t to p>ticipate 9 a loan on a def]r$ basis "u ?is subsection 7includ+ a loan made "u ! ,pref]r$ ,l5d]s ,program71 su* p>ticipation by ! ,adm9i/ration %all be equal to-- 7i7 #ge p]c5t ( ! balance ( ! f9anc+ out/&+ at ! "t ( disbursem5t ( ! loan1 if su* balance exce$s #aej1jjj2 or 7ii7 #he p]c5t ( ! balance ( ! f9anc+ out/&+ at ! "t ( disbursem5t ( ! loan1 if su* balance is less ?an or equal to #aej1jjj4 4 7c7 ,express loan gu>antee am\nts & loan size increases 7#a7 ,tempor>y modification ,section #g7;a77#ca7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ca77 is am5d$-- 7,a7 9 subp>agraph 7,a77iv71 by /rik+ ) a gu>anty rate ( n m ?an #ej p]c5t4 & ins]t+ ! foll[+3 ) a gu>antee rate-- 7,i7 = a loan 9 an am\nt less ?an or equal to #cej1jjj1 ( n m ?an #ij p]c5t2 & 7,,ii7 = a loan 9 an am\nt great] ?an #cej1jjj1 ( n m ?an #ge p]c5t4 2 & 7,b7 9 subp>agraph 7,d71 by /rik+ #cej1jjj & ins]t+ #a1jjj1jjj4 7#b7 ,increase 9 availability ,effective ,septemb] #cj1 #bjba1 section #g7;a77#ca7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ca771 z am5d$ by p>agraph 7#a71 is am5d$-- 7,a7 9 subp>agraph 7,a77iv71 by /rik+ gu>antee rate & all t foll[s ?r\gh ! p]iod at ! end & ins]t+ #8#8gu>antee rate ( n m ?an #ej p]c5t4''2 & 7,b7 9 subp>agraph 7,d71 by /rik+ #a1jjj1jjj & ins]t+ #ejj1jjj4 #aj4 ,maximum loan am\nt & program levels = #g7;a7 loans 7a7 ,purpose ,! purpose ( ?is section is to tempor>ily increase ! maximum loan size 9 ord] to exp& ! rea* ( ?is long-t]m capital4 7b7 ,maximum loan am\nt ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ) respect to any loan gu>ante$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 = :i* an application is approv$ or p5d+ approval on or aft] ! date ( enactm5t ( ?is ,act1 ! maximum loan am\nt %all be #aj1jjj1jjj4 7c7 ,program levels ,dur+ ea* ( fiscal ye>s #bjbj & #bjba1 commitm5ts = g5]al bus9ess loans au?oriz$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 %all n exce$ #hj1jjj1jjj1jjj4 #aa4 ,maximum loan am\nt = #ejd loans 7a7 ,purpose ,! purpose ( ?is section is to make ref9anc+ ( fix$ assets m flexible = small bus9ess conc]ns seek+ imm$iate f9anc+ & relief f ! ,,covid-#ai crisis4 7b7 ,tempor>y increase ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ) respect to ea* project or loan gu>ante$ by ! ,adm9i/rator pursuant to title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq47 = :i* an application is approv$ or p5d+ approval on or aft] ! date ( enactm5t ( ?is ,act1 ! maximum loan am\nt %all be #aj1jjj1jjj4 7c7 ,p]man5t increase = small manufactur]s ,effective on ,octob] #a1 #bjba1 section #ejb7b77;,a77iii7 ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fif7b77;,a77iii77 is am5d$ by /rik+ #e1ejj1jjj & ins]t+ #aj1jjj1jjj4 #ab4 ,lev]ag+ #ejd loans = ref9anc+ & community developm5t l5d+ 7a7 ,purpose ,! purpose ( ?is section is to make ref9anc+ loans "u title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq47 m flexible s t l5d]s c m effectively & effici5tly respond to ! ne$s ( small bus9ess conc]ns seek+ imm$iate f9anc+ & relief f ! economic impacts ( ,,covid-#ai4 7b7 ,l[-,int]e/ ref9anc+ "u ! local developm5t bus9ess loan program 7#a7 ,9 g5]al ,section #ejb7g7 ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fif7g77 is am5d$ by add+ at ! end ! foll[+3 7,c7 ,ref9anc+ n involv+ expansions 7i7 ,def9itions ,9 ?is subp>agraph-- 7,i7 ! t]m borr[] means a small bus9ess conc]n t submits an application to a developm5t company = f9anc+ "u ?is subp>agraph2 7,,ii7 ! t]m eligible fix$ asset means tangible prop]ty relat+ to :i* ! ,adm9i/rator may provide f9anc+ "u ?is section2 & 7,,iii7 ! t]m qualifi$ debt means indebt$ness-- 7aa7 t-- 7,,aa7 0 incurr$ n less ?an #b ye>s be=e ! date ( ! application = assi/ance "u ?is subp>agraph2 7,,bb7 is a comm]cial loan2 7,,cc7 ! proce$s ( :i* 7 us$ to acquire an eligible fix$ asset2 7,,dd7 0 incurr$ = ! b5efit ( ! small bus9ess conc]n2 & 7,,ee7 is collat]aliz$ by eligible fix$ assets2 & 7bb7 = :i* ! borr[] has be5 curr5t on all paym5ts = n less ?an #a ye> be=e ! date ( ! application4 7ii7 ,au?ority ,a project t does n involve ! expansion ( a small bus9ess conc]n may include ! ref9anc+ ( qualifi$ debt if-- 7,i7 ! am\nt ( ! f9anc+ is n m ?an #ij p]c5t ( ! value ( ! collat]al = ! f9anc+1 except t1 if ! apprais$ value ( ! eligible fix$ assets s]v+ z collat]al = ! f9anc+ is less ?an ! am\nt equal to #abe p]c5t ( ! am\nt ( ! f9anc+1 ! borr[] may provide additional ca% or o!r collat]al to elim9ate any defici5cy2 7,,ii7 ! borr[] has be5 9 op]ation = all ( ! #b-ye> p]iod end+ on ! date ( ! loan2 7,,iii7 ! f9anc+ w provide a sub/antial b5efit to ! borr[] :5 prepaym5t p5alties1 f9anc+ fees1 & o!r f9anc+ co/s are acc\nt$ =2 & 7,,iv7 = a f9anc+ = :i* ! ,adm9i/rator det]m9es !re w be an additional co/ attributable to ! ref9anc+ ( ! qualifi$ debt1 ! borr[] agrees to pay a fee 9 an am\nt equal to ! anticipat$ additional co/4 7iii7 ,f9anc+ = bus9ess exp5ses 7,i7 ,f9anc+ = bus9ess exp5ses ,! ,adm9i/rator may provide f9anc+ to a borr[] t receives f9anc+ t includes a ref9anc+ ( qualifi$ debt "u clause 7ii71 9 addition to ! ref9anc+ "u clause 7ii71 to be us$ solely = ! paym5t ( bus9ess exp5ses4 7,,ii7 ,application = f9anc+ ,an application = f9anc+ "u subclause 7,i7 %all include-- 7aa7 a specific description ( ! exp5ses = :i* ! additional f9anc+ is reque/$2 & 7bb7 an itemization ( ! am\nt ( ea* exp5se4 7,,iii7 ,condition on additional f9anc+ ,a borr[] may n use any "p ( ! f9anc+ "u ?is clause = non-bus9ess purposes4 7iv7 ,loans bas$ on jobs 7,i7 ,job creation & ret5tion goals 7aa7 ,9 g5]al ,! ,adm9i/rator may provide f9anc+ "u ?is subp>agraph = a borr[] t meets ! job creation goals "u subsection 7d7 or 7e7 ( section #eja4 7bb7 ,alt]nate job ret5tion goal ,! ,adm9i/rator may provide f9anc+ "u ?is subp>agraph to a borr[] t does n meet ! goals describ$ 9 item 7aa7 9 an am\nt t is n m ?an ! product obta9$ by multiply+ ! numb] ( employees ( ! borr[] by #ge1jjj4 7,,ii7 ,numb] ( employees ,= purposes ( subclause 7,i71 ! numb] ( employees ( a borr[] is equal to ! sum (-- 7aa7 ! numb] ( full-"t employees ( ! borr[] on ! date on :i* ! borr[] applies = a loan "u ?is subp>agraph2 & 7bb7 ! product obta9$ by multiply+-- 7,,aa7 ! numb] ( "p-"t employees ( ! borr[] on ! date on :i* ! borr[] applies = a loan "u ?is subp>agraph2 by 7,,bb7 ! quoti5t obta9$ by divid+ ! av]age numb] ( h\rs ea* "p "t employee ( ! borr[] works ea* week by #dj4 7v7 ,nondelegation ,not)/&+ section #ejh7;e71 ! ,adm9i/rator may n p]mit a premi] c]tifi$ l5d] to approve or disapprove an application = assi/ance "u ?is subp>agraph4 7vi7 ,total am\nt ( loans ,! ,adm9i/rator may provide n m ?an a total ( #g1ejj1jjj1jjj ( f9anc+ "u ?is subp>agraph = ea* fiscal ye>4 4 7#b7 ,con=m+ am5dm5t ,section #eba ( division ,e ( ! ,consolidat$ ,appropriations ,act1 #bjaf 7#ae ,u4,s4,c4 #fif note7 is repeal$4 7c7 ,int5t ( ,congress reg>d+ ref9anc+ exi/+ bus9ess debt ,x is ! int5t ( ,congress t ! ref9anc+ ( exi/+ bus9ess debt is an au?oriz$ use ( a f9anc+ "u ! program "u title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq474 7d7 #ejd debt ref9ance ) expansion ,section #ejb7g77;,b7 ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fif7g77;,b77 is am5d$1 9 ! matt] prec$+ clause 7i71 by /rik+ #ej & ins]t+ #ajj4 #ac4 ,recov]y assi/ance = microbus9esses 7a7 ,purpose ,! purpose ( ?is section is to all[ l5d]s to deploy m capital1 give borr[]s m "t to repay1 increase rural l5d+1 & cut te*nical assi/ance r$ tape4 7b7 ,loans to int]m$i>ies 7#a7 ,9 g5]al ,section #g7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77 is am5d$-- 7,a7 9 p>agraph 7#c77;,c7-- 7i7 by /rik+ & #f1jjj1jjj & ins]t+ #aj1jjj1jjj1 9 ! aggregate12 & 7ii7 by ins]t+ be=e ! p]iod at ! end ! foll[+3 1 & #d1ejj1jjj 9 any ( ^? rema9+ ye>s2 7,b7 9 p>agraph 7#d7-- 7i7 9 subp>agraph 7,a71 by /rik+ subp>agraph 7,c7 ea* place t t]m appe>s & ins]t+ subp>agraphs 7,c7 & 7,g72 7ii7 9 subp>agraph 7,c77i7-- 7,i7 by /rik+ subp>agraph 7,a7 & ins]t+ subp>agraphs 7,a7 & 7,g72 & 7,,ii7 9 subclause 7,,ii7-- 7aa7 by /rik+ has a portfolio & ins]t+ has-- 7aa7 a portfolio 2 7bb7 9 item 7aa71 by /rik+ ! p]iod at ! end & ins]t+ 2 or2 & 7cc7 by add+ at ! end ! foll[+3 7bb7 a portfolio ( loans made "u ?is subsection ( :i* n less ?an #be p]c5t is s]v+ rural areas dur+ ! p]iod ( ! int]m$i>y's p>ticipation 9 ! program4 2 & 7iii7 by add+ at ! end ! foll[+3 7,g7 ,grant am\nts bas$ on appropriations ,9 any fiscal ye> 9 :i* ! am\nt appropriat$ to make grants "u subp>agraph 7,a7 is suffici5t to provide to ea* int]m$i>y t receives a loan "u p>agraph 7#a77;,b77i7 a grant ( n less ?an #be p]c5t ( ! total out/&+ balance ( loans made to ! int]m$i>y "u ?is subsection1 ! ,adm9i/ration %all make a grant "u subp>agraph 7,a7 to ea* int]m$i>y ( n less ?an #be p]c5t & n m ?an #cj p]c5t ( t total out/&+ balance = ! int]m$i>y4 2 & 7,c7 by /rik+ p>agraph 7#g7 & ins]t+ ! foll[+3 7#g7 ,program fund+ = microloans ,"u ! program au?oriz$ by ?is subsection1 ! ,adm9i/ration may fund1 on a competitive basis1 n m ?an #cjj int]m$i>ies4 4 7#b7 ,am5dm5t 9 #bjba ,effective on ,octob] #a1 #bjba1 section #g7m77#c77;,c7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77#c77;,c77 is am5d$-- 7,a7 by /rik+ #aj1jjj1jjj & by ins]t+ #g1jjj1jjj2 & 7,b7 by /rik+ #d1ejj1jjj & ins]t+ #c1jjj1jjj4 7c7 ,tempor>y waiv] ( te*nical assi/ance grants mat*+ requirem5ts & flexibility on pre- & po/-,loan assi/ance ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ! ,adm9i/ration %all waive-- 7#a7 ! requirem5t to contribute non-,f$]al funds "u section #g7m77#d77;,b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77#d77;,b772 & 7#b7 ! limitation on am\nts all[$ to be exp5d$ to provide in=mation & te*nical assi/ance "u clause 7i7 ( section #g7m77#d77;,e7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77#d77;,e77 & ent] into ?ird-p>ty contracts to provide te*nical assi/ance "u clause 7ii7 ( su* section #g7m77#d77;,e74 7d7 ,tempor>y duration ( loans to borr[]s 7#a7 ,9 g5]al ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ! duration ( a loan made by an eligible int]m$i>y "u section #g7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77-- 7,a7 to an exi/+ borr[] may be ext5d$ to n m ?an #h ye>s2 & 7,b7 to a new borr[] may be n m ?an #h ye>s4 7#b7 ,rev]sion ,on & aft] ,octob] #a1 #bjba1 ! duration ( a loan made by an eligible int]m$i>y to a borr[] "u section #g7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m77 %all be #g ye>s or su* o!r am\nt e/abli%$ by ! ,adm9i/rator4 7e7 ,program levels ,section #bj ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca note7 is am5d$ by add+ at ! end ! foll[+3 7h7 ,microloan program ,= ea* ( fiscal ye>s #bjba ?r\gh #bjbe1 ! ,adm9i/ration is au?oriz$ to make-- 7#a7 #hj1jjj1jjj 9 te*nical assi/ance grants1 z provid$ 9 section #g7m72 & 7#b7 #aaj1jjj1jjj 9 direct loans1 z provid$ 9 section #g7m74 4 7f7 ,au?orization ( appropriations ,9 addition to am\nts provid$ "u ! ,consolidat$ ,appropriations ,act1 #bjbj 7,public ,law #aaf-ic7 = ! program e/abli%$ "u section #g7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7m771 !re is au?oriz$ to be appropriat$ = fiscal ye> #bjbj1 to rema9 available until exp5d$-- 7#a7 #ej1jjj1jjj to provide te*nical assi/ance grants "u su* section #g7m72 & 7#b7 #g1jjj1jjj to provide direct loans "u su* section #g7m74 #ad4 ,electronic submissions = ! small bus9ess inve/m5t company program 7a7 ,purpose ,! purpose ( ?is section is to quickly provide capital to /ruggl+ small bus9ess conc]ns by all[+ electronic signatures to exp$ite ! approval process ( ! ,adm9i/ration = additional inve/m5t funds1 especially z /aff telework4 7b7 ,electronic submissions ,unless o!rwise prohibit$ by law or regulation1 ! ,adm9i/ration %all p]mit any docum5t submitt$ "u section #ajc ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #ffb7 or pursuant to a regulation c>ry+ out title ,v ( su* ,act 7#ae ,u4,s4,c4 #fie et seq47 to be submitt$ electronically1 includ+ by p]mitt+ an electronic signature = any signature t is requir$ on su* a docum5t4 7c7 ,rule ( con/ruction ,no?+ 9 ?is section %all be con/ru$ to preempt1 sup]s$e1 or o!rwise prohibit private sector requirem5ts1 cov5ants1 cu/om>y practices1 obligations1 or legal prohibitions aga9/ electronic signatures4 #ae4 ,bus9ess /abilization direct loan program 7a7 ,def9ition ( eligible borr[] ,9 ?is section1 ! t]m eligible borr[] means a small bus9ess conc]n t is locat$ 9 ! ,unit$ ,/ates 7z def9$ 9 section #d7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcc7;a777 ) a confirm$ or presum$ positive case ( ,,covid-#ai4 7b7 ,program ,! ,adm9i/rator %all c>ry out a program to make loans directly to eligible borr[]s4 7c7 ,use ( funds ,9 addition to ! use ( loan proce$s p]mitt$ "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a771 loans made "u ?is section may be us$ = ! foll[+ purposes3 7#a7 ,to make p]iodic paym5ts ( pr9cipal & int]e/1 = a p]iod n to exce$ #ab mon?s1 on a loan or a loan gu>antee made to an eligible borr[] t meets ! eligibility /&>ds ( su* section #g7;a74 7#b7 ,to provide b5efits to employees ( ! eligible borr[]1 includ+ gr\p life insurance1 disability insurance1 sick leave1 annual leave1 educational b5efits1 paid family leave1 or retirem5t b5efits1 includ+ a p5sion plan or individual retirem5t acc\nt4 7#c7 ,to pay wages to employees ( ! eligible borr[]1 & relat$ ,/ate & ,f$]al payroll taxes1 except t loan proce$s may n be us$ to pay am\nts "u a g>ni%m5t ord] issu$ by an ag5cy ( a ,/ate or ,f$]al ,gov]nm5t4 7#d7 ,to provide te*nology1 h>dw>e1 or s(tw>e = a %ift to telework or remote "w = employees ( ! eligible borr[] to enable cont9uity ( op]ations4 7#e7 ,to pay r5t or utilities due or ow$ on any place ( bus9ess ( ! eligible borr[]4 7#f7 ,to ref9ance an exi/+ debt1 includ+ int]e/1 9 an am\nt n to exce$ #ej p]c5t ( ! am\nt ( ! debt4 7#g7 ,to provide floor plan f9anc+ or o!r revolv+ l9e ( cr$it4 7#h7 ,to pay pa/-due ,f$]al1 ,/ate1 or local payroll taxes1 sales taxes1 or o!r simil> taxes t are requir$ to be collect$ by ! eligible borr[] & held 9 tru/ on behalf ( a ,f$]al1 ,/ate1 or local gov]nm5t entity4 7#i7 ,to provide employees & patrons ( ! eligible borr[] ) ! necess>y items specifi$ by any public heal? au?ority to mitigate ! spread ( ,,covid-#ai4 7d7 ,loan t]ms 7#a7 ,am\nt ,loans made "u ?is section may n exce$ #b1ejj1jjj4 7#b7 ,disbursem5t ,n less ?an #aj p]c5t1 b n m ?an #bj p]c5t1 ( ! proce$s ( a loan made "u ?is section %all be disburs$ n lat] ?an #e cal5d> days aft] a loan is approv$ "u ?is section4 7#c7 ,t]m ,loans made "u ?is section %all be = a t]m ( #aj ye>s1 & an eligible borr[] %all n be requir$ to repay su* loan dur+ ! #ab-mon? p]iod beg9n+ on ! date ( disbursem5t ( ! loan4 7#d7 ,int]e/2 fees ,! ,adm9i/rator may n *>ge any int]e/ or fees = a loan made "u ?is section4 7e7 ,collat]al ,! ,adm9i/rator-- 7#a7 %all n decl9e to make a loan "u ?is section to an o!rwise eligible borr[] due solely to inadequate collat]al2 & 7#b7 %all accept any available collat]al1 includ+ subord9at$ li5s1 to secure a loan made "u ?is section4 7f7 ,=giv5ess ,if an eligible borr[] t receives loan proce$s "u ?is section demon/rates to ! ,adm9i/rator t ! numb] ( employees ( ! eligible borr[] on ,decemb] #ca1 #bjba1 is great] ?an or equal to ! numb] ( employees ( ! eligible borr[] on ,decemb] #ca1 #bjai1 ! ,adm9i/rator %all =give n m ?an #ej p]c5t ( ! out/&+ pr9cipal on su* loan4 7g7 ,sunset 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! ,adm9i/rator may n make a loan "u ?is section aft] ,septemb] #cj1 #bjbb4 7#b7 ,ext5sion ,! ,adm9i/rator may ext5d au?ority to make loans "u ?is section by an additional #f mon?s by notify+ ,congress1 9 writ+1 )9 #aj cal5d> days be=e any ext5sion4 7h7 ,em]g5cy rulemak+ au?ority ,9 issu+ rules to c>ry out ?is section "u section #be1 ! ,adm9i/rator may issue rules to e/abli% a second>y m>ket = loans made "u ?is section4 7i7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,adm9i/rator ( ! ,small ,bus9ess ,adm9i/ration su* sums z may be necess>y to pay = ! co/ 7z def9$ 9 section #ejb ( ! ,congressional ,budget ,act ( #aigd 7#b ,u4,s4,c4 #ffa;a77 ( mak+ #ajj1jjj1jjj1jjj 9 direct loans "u ?is section4 #af4 ,/ate ,trade ,expansion ,program ,! ,adm9i/rator may use am\nts appropriat$ to c>ry out ! ,/ate ,trade ,expansion ,program e/abli%$ "u section #bb7l7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdi7l77 = fiscal ye>s #bjah & #bjai t rema9 unobligat$ or unexp5d$ to c>ry out ! ,/ate ,trade ,expansion ,program ?r\gh ! end ( fiscal ye> #bjba4 #ag4 ,contract+ & entrepr5eurial developm5t assi/ance 7a7 ,purpose ,! purpose ( ?is section is to provide-- 7#a7 flexibility to small bus9ess ,f$]al suppli]s & to ! ,f$]al ,gov]nm5t to m quickly aw>d contract+ doll>s to small bus9ess conc]ns 9 times ( economic unc]ta9ty & d[nturn relat$ to ,,covid-#ai2 & 7#b7 additional funds to res\rce p>tn]s ( ! ,adm9i/ration1 su* z small bus9ess developm5t c5t]s1 wom5's bus9ess c5t]s1 & ,,score to conduct outrea* to small bus9ess conc]ns affect$ by ,,covid-#ai1 includ+ by increas+ _! virtual outrea* capacity4 7b7 ,def9itions ,9 ?is section-- 7#a7 ! t]m contract+ (fic] has ! mean+ giv5 ! t]m 9 section #cf7;e7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #feg;f7e772 7#b7 ! t]m cov]$ entity means a small bus9ess conc]n or nonpr(it organization-- 7,a7 t is a p>ty to a contract ) a ,f$]al ag5cy2 & 7,b7 = :i* ! contractor p]=mance is adv]sely impact$ z a result ( ,,covid-#ai2 7#c7 ! t]m economically disadvantag$ wom5-own$ small bus9ess has ! mean+ giv5 ! t]m 9 section #abg4ajb ( title #ac1 ,code ( ,f$]al ,regulations1 or any succcessor regulation2 7#d7 ! t]m ,h,u,b,zone small bus9ess conc]n has ! mean+ giv5 ! t]m 9 section #ca7;b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #feg;a7b772 7#e7 ! t]m ,,score means ! ,s]vice ,corps ( ,retir$ ,executives program e/abli%$ "u section #h7;b77#a77;,b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcg7;b77#a77;,b772 7#f7 ! t]m small bus9ess conc]n own$ & controll$ by s]vice-disabl$ vet]ans has ! mean+ giv5 ! t]m 9 section #c7q7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb7q772 7#g7 ! t]m small bus9ess conc]n own$ & controll$ by wom5 has ! mean+ giv5 ! t]m 9 section #h7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcg7m772 7#h7 ! t]m small bus9ess developm5t c5t] has ! mean+ giv5 ! t]m 9 section #c7t7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb7t772 & 7#i7 ! t]m wom5's bus9ess c5t] means a wom5's bus9ess c5t] describ$ 9 section #bi ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fef74 7c7 ,promotion ( small bus9ess contract+ 7#a7 ,small bus9ess contract+ relief ,not)/&+ any o!r provision ( law or regulation1 dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ! head ( ! ,f$]al ag5cy ) :i* a cov]$ entity has a contract %all provide ! cov]$ entity ) ! great] (-- 7,a7 #cj additional days to c>ry out ! responsibilities ( ! cov]$ entity "u ! contract2 or 7,b7 an additional am\nt ( "t to c>ry out ! responsibilities ( ! cov]$ entity "u ! contract t ! head ( ! ,f$]al ag5cy det]m9es to be appropriate aft] tak+ into consid]ation ! sev]ity ( ! adv]se impact exp]i5c$ by ! cov]$ entity4 7#b7 ,paym5t cont9uation ,if ! p]=mance ( all or any "p ( ! "w ( a ,f$]al goods or s]vices contract ) a contractor t is a small bus9ess conc]n or a nonpr(it organization 9 =ce & effect dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 is unavoidably delay$ or int]rupt$ by ! inability ( ! employees ( ! small bus9ess conc]n or nonpr(it organization1 z applicable1 to access ,gov]nm5t facilities1 sy/ems1 or o!r ,gov]nm5t-provid$ res\rces due to re/rictions relat$ to ,,covid-#ai t h be5 impos$ by any au?ority or due to ord]s or in/ructions issu$ by ! contract+ ag5cy 9 response to ,,covid-#ai-- 7,a7 ! ,gov]nm5t %all pay ! small bus9ess conc]n or nonpr(it organization1 z applicable1 ^u ! submission ( ! docum5tation requir$ by ! contract & accord+ to ! t]ms specifi$ 9 ! contract1 ! prices /ipulat$ 9 ! contract = goods or s]vices z if ! small bus9ess conc]n or nonpr(it organization1 z applicable1 _h r5d]$ & ! ,gov]nm5t accept$ ! goods or s]vices2 & 7,b7 contractor deliv]y s*$ules %all be revis$ & ! small bus9ess conc]n or nonpr(it organization1 z applicable1 %all be eligible = equitable adju/m5ts bas$ on ! revis$ s*$ules4 7#c7 ,tempor>y sole-s\rce aw>d p>ity among contract+ programs ,not)/&+ any o!r provision ( law or regulation1 dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ) respect to a small bus9ess conc]n own$ & controll$ by wom51 an economically disadvantag$ wom5-own$ small bus9ess1 a ,h,u,b,zone small bus9ess conc]n1 or a small bus9ess conc]n own$ & controll$ by s]vice-disabl$ vet]ans1 a contract+ (fic] may aw>d a sole s\rce contract to ! small bus9ess conc]n if ! anticipat$ aw>d price ( ! contract w n exce$ ! maximum p]missible am\nt = ! contract1 z provid$ "u ! applicable provision ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca et seq471 z am5d$ by ?is subsection4 7#d7 ,increas+ sole s\rce caps 7,a7 ,qualifi$ ,h,u,b,zone small bus9ess conc]ns ,section #ca7;c77#b77;,a77ii7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #feg;a7c77#b77;,a77ii77 is am5d$-- 7i7 9 subclause 7,i71 by /rik+ #e1jjj1jjj & ins]t+ #aj1jjj1jjj2 & 7ii7 9 subclause 7,,ii71 by /rik+ #c1jjj1jjj & ins]t+ #h1jjj1jjj4 7,b7 ,small bus9ess conc]ns own$ & controll$ by s]vice-disabl$ vet]ans ,section #cf7;a77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #feg;f7a77#b77 is am5d$-- 7i7 9 subp>agraph 7,a71 by /rik+ #e1jjj1jjj & ins]t+ #aj1jjj1jjj2 & 7ii7 9 subp>agraph 7,b71 by /rik+ #c1jjj1jjj & ins]t+ #h1jjj1jjj4 7,c7 ,small bus9ess conc]ns own$ & controll$ by socially & economically disadvantag$ individuals ,section #h7;a77#a77;,d77i77,,ii7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcg7;a77#a77;,d77i77,,ii77 is am5d$-- 7i7 by /rik+ #e1jjj1jjj & ins]t+ #aj1jjj1jjj2 & 7ii7 by /rik+ #c1jjj1jjj & ins]t+ #h1jjj1jjj4 7,d7 ,c]ta9 small bus9ess conc]ns own$ & controll$ by wom5 ,section #h7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcg7m77 is am5d$-- 7i7 9 p>agraph 7#g77;,b7-- 7,i7 9 clause 7i71 by /rik+ #f1ejj1jjj & ins]t+ #aj1jjj1jjj2 & 7,,ii7 9 clause 7ii71 by /rik+ #d1jjj1jjj & ins]t+ #h1jjj1jjj2 & 7ii7 9 p>agraph 7#h77;,b7-- 7,i7 9 clause 7i71 by /rik+ #f1ejj1jjj & ins]t+ #aj1jjj1jjj2 & 7,,ii7 9 clause 7ii71 by /rik+ #d1jjj1jjj & ins]t+ #h1jjj1jjj4 7#e7 ,category managem5t ,section #ae ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdd7 is am5d$ by add+ at ! end ! foll[+3 7y7 ,category managem5t 7#a7 ,def9ition ( contract ,9 ?is subsection1 ! t]m contract includes a prime contract1 a task ord]1 a deliv]y ord]1 a blanket pur*ase agreem5t1 & a basic ord]+ agreem5t4 7#b7 ,exemption ,any acquisition = a contract to be aw>d$ "u ! proc$ures ( section #h7;a71 #h7m71 #ca1 or #cf or "u subsection 7a7 or 7j7 ( ?is section1 includ+ an acquisition = comm]cial items1 %all be-- 7,a7 exempt f ! proc$ural requirem5ts ( ag5cy-level or ,gov]nm5twide guidance on category managem5t1 be/ 9 class solutions1 common contract solutions1 or successor /rategies = contract consolidation2 & 7,b7 disreg>d$ :5 measur+ atta9m5t ( any goal or b5*m>k e/abli%$ "u ag5cy-level or ,gov]nm5twide guidance on category managem5t1 be/ 9 class solutions1 common contract solutions1 or successor /rategies = contract consolidation1 unless consid]+ ! acquisition aids 9 ! a*ievem5t ( ! goal or b5*m>k4 7#c7 ,prohibition ,once a contract has be5 aw>d$ "u ! section #h7;a71 #h7m71 #ca1 or #cf or "u subsection 7a7 or 7j7 ( ?is section1 includ+ an acquisition = comm]cial items1 ! contract %all n be remov$ & plac$ 9 category managem5t1 be/ 9 class solutions1 common contract solutions1 or successor /rategies = contract consolidation4 4 7#f7 ,prompt paym5ts ,not)/&+ any o!r provision ( law or regulation1 dur+ any p]iod 9 :i* ! ,presid5t invokes ! au?orities ( ! ,def5se ,production ,act ( #aiej 7#ej ,u4,s4,c4 #deja et seq471 = any paym5t due by ! head ( an ag5cy on a contract = an item ( prop]ty or s]vice provid$-- 7,a7 ) respect to a prime contractor 7z def9$ 9 section #hgja ( title #da1 ,unit$ ,/ates ,code7 t is a small bus9ess conc]n or nonpr(it organization1 ! head ( ! ag5cy %all1 to ! fulle/ ext5t p]mitt$ by law & to ! maximum ext5t practicable1 e/abli% an accel]at$ paym5t date ( #ae days aft] a prop] invoice = ! am\nt due is receiv$2 & 7,b7 ) respect to a prime contractor 7z def9$ 9 section #hgja ( title #da1 ,unit$ ,/ates ,code7 t subcontracts ) a small bus9ess conc]n or nonpr(it organization1 ! head ( ! ag5cy %all1 to fulle/ ext5t p]mitt$ by law & to ! maximum ext5t practicable1 e/abli% an accel]at$ paym5t date ( #ae days aft] receipt ( a prop] invoice = ! am\nt due if ! prime contractor agrees to make paym5ts to ! subcontractor 9 accordance ) ! accel]at$ paym5t date1 to ! maximum ext5t practicable1 )\t any fur!r consid]ation f or fees *>g$ to ! subcontractor4 7d7 ,promotion ( small bus9ess economic developm5t programs 7#a7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,adm9i/rator ! foll[+ am\nts1 :i* %all rema9 available until exp5d$3 7,a7 #ah1gej1jjj to c>ry out ! wom5's bus9ess c5t] program "u section #bi ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fef71 ) respect to :i* ! foll[+ requirem5ts %all apply3 7i7 ,! ,adm9i/rator %all allocate t am\nt s t ea* wom5's bus9ess c5t] op]at+ pursuant to t section receives an equal allocation1 unless ! ,adm9i/rator det]m9es t ano!r mann] ( allocation is necess>y4 7ii7 ,a c5t] t receives am\nts "u ?is subp>agraph %all n be subject to ! requirem5t to provide non-,f$]al fund+ "u section #bi7;c7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fef7;c774 7iii7 ,a c5t] t receives am\nts "u ?is subp>agraph %all use ! grant to-- 7,i7 enhance remote s]vices provid$ by ! c5t]2 & 7,,ii7 provide c\nsel+1 tra9+1 & o!r relat$ s]vices1 su* z promot+ long-t]m resili5cy1 to small bus9ess conc]ns & entrepr5eurs impact$ by or exp]i5c+ sub/antial economic injury z a result ( ,,covid-#ai4 7,b7 #a1jjj1jjj to c>ry out ,,score1 :i* %all be us$ to-- 7i7 hire /aff memb]s ) respect to ,,score to develop & implem5t an education program to-- 7,i7 provide m5tor+ & o!r relat$ s]vices1 su* z promot+ long-t]m resili5cy1 to small bus9ess conc]ns & entrepr5eurs impact$ by or exp]i5c+ sub/antial economic injury z a result ( ,,covid-#ai2 7,,ii7 help own]s ( small bus9ess conc]ns address issues relat+ to ,,covid-#ai2 & 7,,iii7 educate volunte]s ) respect to ! program reg>d+ issues relat+ to ,,covid-#ai2 7ii7 develop & design cont5t relat+ to ! issues describ$ 9 clause 7i72 7iii7 enc\rage ! use ( virtual m5tor+ & work%ops 9 c>ry+ out ,,score2 & 7iv7 recruit & tra9 m virtual m5tors4 7,c7 #dj1jjj1jjj to hire additional /aff to c>ry out ! small bus9ess developm5t program e/abli%$ "u section #ba ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdh71 ) respect to :i* ! foll[+ requirem5ts %all apply3 7i7 ,a small bus9ess developm5t c5t] receiv+ funds "u ?is subp>agraph %all n be subject to ! requirem5t to provide mat*+ am\nts "u subp>agraphs 7,a7 & 7,b7 ( section #ba7;a77#d7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdh7;a77#d774 7ii7 ,! ,adm9i/rator %all allocate ! funds accord+ to ! fund+ =mula describ$ 9 section #ba7;a77#d77;,c7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdh7;a77#d77;,c771 unless ! ,adm9i/rator det]m9es t ano!r mann] ( allocation is necess>y4 7iii7 ,funds provid$ "u ?is subp>agraph %all be us$ to provide c\nsel+1 tra9+1 & o!r relat$ s]vices1 su* z promot+ long-t]m resili5cy1 to small bus9ess conc]ns & entrepr5eurs impact$ by or exp]i5c+ sub/antial economic injury z a result ( ,,covid-#ai1 :i* %all include tra9+ & advis+ on-- 7,i7 ! haz>ds & prev5tion ( ! transmission & communication ( ! ,,covid-#ai & o!r communicable diseases2 7,,ii7 ! pot5tial effects to _! supply *a9s & ! di/ribution & sale ( products1 & ! mitigation ( ^? effects2 7,,iii7 ! managem5t & practice ( telework to r$uce possible transmission2 7,,iv7 ! managem5t & practice ( remote cu/om] s]vice by electronic or o!r means2 7,v7 ! risks & mitigation ( cyb] ?reats 9 remote cu/om] s]vice or telework practices2 7,,vi7 ! mitigation ( ! effects ( r$uc$ travel or outside activities on small bus9ess conc]ns dur+ ,,covid-#ai or simil> occurr5ces2 & 7,,vii7 any o!r relevant bus9ess practices necess>y to mitigate ! economic effects ( ,,covid-#ai or simil> occurr5ces4 7#b7 ,metrics ,! ,adm9i/rator1 9 coop]ation ) recipi5ts ( f9ancial assi/ance "u p>agraph 7#a71 %all e/abli% metrics & goals = p]=mance ( activities us+ funds provid$ "u p>agraph 7#a74 7#c7 ,application 7,a7 ,9 g5]al ,a small bus9ess developm5t c5t]1 a wom5's bus9ess c5t]1 or ,,score %all submit an application to ! ,adm9i/rator to receive assi/ance "u p>agraph 7#a74 7,b7 ,provision ( assi/ance ,! ,adm9i/rator %all provide assi/ance "u p>agraph 7#a7 aft] mak+ a det]m9ation t ! applicant is 9 ne$ ( f9ancial assi/ance due to economic injury z a result ( ,,covid-#ai or has ! capacity to provide assi/ance to small bus9ess conc]ns affect$ by ,,covid-#ai4 7#d7 ,waiv] ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 ! requirem5t relat+ to obta9+ mat*+ contributions f non-,f$]al s\rces "u sections #ba7;a77#d7 & #bi7;c7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdh7;a77#d71 #fef7;c77 is waiv$ = any recipi5t ( assi/ance "u su* section #ba or #bi1 respectively4 7#e7 ,,sba creation ( made 9 ,am]ica li/ 7,a7 ,%ort t]m response ,n lat] ?an #fj days aft] ! date ( enactm5t ( ?is ,act ! res\rce p>tn]s ( ! ,adm9i/ration1 includ+ small bus9ess developm5t c5t]s1 wom5's bus9ess c5t]s1 ,,score1 & vet]ans bus9ess outrea* c5t]s1 %all provide ! ,adm9i/rator ) a li/ ( ! small bus9ess conc]ns-- 7i7 t ^? p>tn]s h s]v$ dur+ ! #aj-ye> p]iod prec$+ ! date on :i* ! li/ is creat$2 & 7ii7 t self-id5tify z hav+1 or z expect+ to h1 supply *a9 vuln]abilities4 7,b7 ,creation ( li/ ,bas$ on ! li/ provid$ "u subp>agraph 7,a71 ! ,adm9i/ration %all create a li/ ( small bus9ess conc]ns entitl$ ! ,made 9 ,am]ica li/4 7,c7 ,long t]m response 7i7 ,9 g5]al ,aft] ! creation ( ! li/ "u subp>agraph7,b7-- 7,i7 ! ,adm9i/rator %all-- 7aa7 %>e ! li/ ) ! res\rce p>tn]s ( ! ,adm9i/ration1 includ+ ! entities describ$ 9 subp>agraph 7,a72 7bb7 update ! li/ n less frequ5tly ?an once e #f mon?s1 or at su* int]vals z ! ,adm9i/rator may det]m9e appropriate2 7cc7 on an ongo+ basis1 seek to mat* ! small bus9ess conc]ns id5tifi$ on ! li/ 7ref]r$ to 9 ?is subp>agraph z li/$ small bus9ess conc]ns71 z updat$ "u item 7bb71 )-- 7,,aa7 suppli]s id5tifi$ "u subclause 7,,ii72 & 7,,bb7 any o!r suppli] t may be able to address ! supply *a9 vuln]abilities ( ! li/$ small bus9ess conc]ns2 & 7dd7 9 c>ry+ out item 7cc71 collaborate ) o!r ,f$]al ag5cies1 includ+ ! ,m9ority ,bus9ess ,developm5t ,ag5cy ( ! ,dep>tm5t ( ,comm]ce1 to id5tify supply *a9 vuln]abilities 9 ! ,unit$ ,/ates t small bus9ess conc]ns may be able to address2 & 7,,ii7 ! res\rce p>tn]s ( ! ,adm9i/ration %all dissem9ate ! li/ receiv$ "u subclause 7,i77aa7 to manufactur+ cli5ts ( ^? p>tn]s ) ! objective ( mat*+ ! li/$ small bus9ess conc]ns ) suppli]s t are able to address ! supply *a9 vuln]abilities ( ^? small bus9ess conc]ns4 7ii7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft]1 ! ,adm9i/rator %all submit to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & ! ,committee on ,small ,bus9ess ( ! ,h\se ( ,repres5tatives a report t conta9s-- 7,i7 ! numb] ( li/$ small bus9ess conc]ns1 z updat$ "u clause 7i77,i77bb72 7,,ii7 ! numb] ( notification ( opportunities t w5t out reque/+ new small bus9ess conc]n suppli]s2 & 7,,iii7 ! numb] ( mat*es made f ! li/ requir$ "u ?is p>agraph4 7e7 ,au?orization ( appropriations ,9 addition to am\nts provid$ "u any o!r provision ( law1 !re is au?oriz$ to be appropriat$ #aej1jjj1jjj1 to rema9 available until exp5d$1 "u ! head+ ,small ,bus9ess ,adm9i/ration--,entrepr5eurial ,developm5t ,programs1 ( :i*-- 7#a7 #dj1jjj1jjj %all be to support programs c>ri$ out by small bus9ess developm5t c5t]s describ$ 9 section #ba ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdh72 7#b7 #ah1gej1jjj %all be to support programs c>ri$ out by wom5's bus9ess c5t]s describ$ 9 section #bi ( su* ,act 7#ae ,u4,s4,c4 #fef72 7#c7 #a1jjj1jjj %all be to support programs c>ri$ out by ! ,s]vice ,corps ( ,retir$ ,executives au?oriz$ "u section #h7;b77#a7 ( su* ,act 7#ae ,u4,s4,c4 #fcg7;b77#a772 7#d7 #ej1jjj1jjj %all be = microloan te*nical assi/ance grants "u section #g7m77#d7 ( su* ,acct 7#ae ,u4,s4,c4 #fcf7m77#d772 & 7#e7 #dj1bej1jjj %all be = additional grants = te*nical assi/ance1 c\nsel+1 m5tor+1 tra9+1 & work%ops = outrea* to small bus9ess conc]ns impact$ by ,,covid-#ai4 #ah4 ,small bus9ess int]m$i>y l5d+ program 7a7 ,9 g5]al ,section #g7l7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7l77 is am5d$-- 7#a7 9 ! subsection head+1 by /rik+ ,pilot2 7#b7 9 p>agraph 7#a7-- 7,a7 9 subp>agraph 7,a71 by /rik+ & at ! end2 7,b7 by r$esignat+ subp>agraph 7,b7 z subp>agraph 7,c72 7,c7 by ins]t+ aft] subp>agraph 7,a7 ! foll[+3 7,b7 ! t]m newly e/abli%$ small bus9ess conc]n means a small bus9ess conc]n t has be5 exi/5ce = n m ?an #b ye>s on ! date on :i* a loan is made to ! small bus9ess conc]n "u ! ,program2 2 7,d7 9 subp>agraph 7,c71 z s r$esignat$-- 7i7 by /rik+ pilot2 & 7ii7 by /rik+ ! p]iod at ! end & ins]t+ a semicolon2 & 7,e7 by add+ at ! end ! foll[+3 7,d7 ! t]m small bus9ess conc]n 9 an und]s]v$ m>ket means a small bus9ess conc]n-- 7i7 t is locat$ 9-- 7,i7 a l[- to mod]ate-income community2 7,,ii7 a ,h,u,b,zone2 7,,iii7 a community t has be5 designat$ z an emp[]m5t zone or an ent]prise community "u section #acia ( ! ,int]nal ,rev5ue ,code ( #aihf2 7,,iv7 a community t has be5 designat$ z a promise zone by ! ,secret>y ( ,h\s+ & ,urban ,developm5t2 7,v7 a community t has be5 designat$ z a qualifi$ opportunity zone "u section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7,,vi7 a rural area2 7ii7 t has m ?an #ej p]c5t ( employees resid+ 9 a l[- or mod]ate-income community2 7iii7 t is a />tup or new bus9ess2 7iv7 own$ & controll$ by socially & economically disadvantag$ individuals1 includ+ ,black ,am]icans1 ,hispanic ,am]icans1 ,native ,am]icans1 ,asian ,pacific ,am]icans1 & o!r m9orities2 7v7 own$ & controll$ by wom52 7vi7 own$ & controll$ by vet]ans2 7vii7 own$ & controll$ by s]vice-disabl$ vet]ans2 7viii7 n less ?an #ea p]c5t own$ & controll$ by #a or m-- 7,i7 memb]s ( ! ,arm$ ,=ces p>ticipat+ 9 ! ,transition ,assi/ance ,program ( ! ,dep>tm5t ( ,def5se2 7,,ii7 ,res]vi/s2 7,,iii7 sp\ses ( vet]ans1 memb]s ( ! ,arm$ ,=ces1 or ,res]vi/s2 or 7,,iv7 surviv+ sp\ses ( vet]ans :o di$ on active duty or z a result ( a s]vice-connect$ disability2 or 7,v7 individuals :o h complet$ a t]m ( imprisonm5t 9 ,f$]al1 ,/ate1 or local jail or prison2 or 7ix7 t is eligible to receive a vet]ans advantage loan2 7,e7 ! t]m small bus9ess conc]n own$ & controll$ by socially & economically disadvantag$ individuals has ! mean+ giv5 ! t]m 9 section #h7;d77#c77;,c72 & 7,f7 ! t]m />tup means a bus9ess t has n yet op5$4 2 7#c7 9 p>agraph 7#b7-- 7,a7 by /rik+ #c-ye> 2 & 7,b7 by /rik+ pilot2 7#d7 9 p>agraph 7#c7-- 7,a7 9 subp>agraph 7,a71 by /rik+ & at ! end2 7,b7 9 subp>agraph 7,b71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+3 7,c7 to provide flexible capital to & ?r\gh mission l5d]s :o are be/ position$ to und]/& community ne$ & respond quickly to x dur+ times ( economic d[nturn1 especially z a result ( a disa/]1 includ+ ^? caus$ by public heal? ?reats4 2 7#e7 9 p>agraph 7#d7-- 7,a7 by /rik+ subp>agraph 7,b7 & ins]t+ ! foll[+3 7,b7 ,loan limits 7i7 ,s+le loan 7,i7 ,9 g5]al ,except z provid$ 9 subclause 7,,ii71 no s+le loan to an eligible int]m$i>y "u ?is subsection may exce$ #a1jjj1jjj4 7,,ii7 ,exception = und]s]v$ m>kets ,if an eligible int]m$i>y makes n less ?an #fj p]c5t ( its loans to small bus9ess conc]ns 9 und]s]v$ m>kets1 ! eligible int]m$i>y may receive a s+le loan "u ?is subsection ( #a1ejj1jjj4 7ii7 ,total am\nt ,! total am\nt out/&+ & committ$ to an eligible int]m$i>y by ! ,adm9i/rator "u ! ,program may n exce$ #e1jjj1jjj4 7iii7 ,consid]ations ,9 det]m9+ :e!r to make a loan to an eligible int]m$i>y be=e prior loans made to ! eligible int]m$i>y "u ! ,program are paid (f1 ! ,adm9i/rator %all take into consid]ation ! l5d+ exp]i5ce & track record ( ! eligible int]m$i>y )9 ! ,program4 2 & 7,b7 by /rik+ subp>agraphs 7,f7 & 7,g7 & ins]t+ ! foll[+3 7,f7 ,delay$ paym5ts 7i7 ,9 g5]al ,! ,adm9i/rator %all n require ! repaym5t ( pr9cipal or int]e/ on a loan made to an eligible int]m$i>y "u ! ,program dur+ ! #b-ye> p]iod beg9n+ on ! date ( ! initial disbursem5t ( funds "u t loan4 7ii7 ,delay$ paym5ts = c]ta9 small bus9ess conc]ns ,an eligible int]m$i>y %all n require ! repaym5t ( pr9cipal or int]e/ on a loan made to a manufactur+ or high-te*1 innovative small bus9ess conc]n = ! purposes ( comm]cialization1 includ+ firms involv$ 9 ! ,,sbir & ,,/tr programs "u section #i1 until ! e>li] (-- 7,i7 t date t is #f mon?s aft] ! date ( ! initial disbursem5t ( funds "u t loan2 or 7,,ii7 ! date on :i* ! small bus9ess conc]n br+s 9 rev5ue4 7,g7 ,repaym5t /ructures ,! ,adm9i/rator may all[ eligible int]m$i>ies to engage borr[]s 9 prud5t repaym5t /ructures1 includ+ rev5ue-bas$ f9anc+1 bas$ on ! type ( bus9ess & bus9ess indu/ry ne$s4 7,h7 ,maximum am\nts ,9 ea* fiscal ye>1 ! ,adm9i/rator may make loans "u ! ,program 9 a total am\nt ( n m ?an #cj1jjj1jjj4 2 & 7#f7 by /rik+ p>agraph 7#f7 & ins]t+ ! foll[+3 7#f7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ! ,,covid-#ai ,recov]y by ,enhanc+ ,loan1 ,inve/m5t1 & ,education ,funds = ,small ,bus9esses ,act ( #bjbj1 ! ,adm9i/rator %all submit to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & ! ,committee on ,small ,bus9ess ( ! ,h\se ( ,repres5tatives a report reg>d+ ! p]=mance & effectiv5ess ( ! ,program1 :i* %all include-- 7,a7 ! numb] & doll> am\nt ( loans made 9 ea* ye> ! ,program has be5 9 effect2 7,b7 ea* eligible int]m$i>y t receiv$ a loan "u ! ,program2 & 7,c7 any recomm5dations = improvem5ts to ! ,program4 7#g7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to c>ry out ?is section-- 7,a7 #bj1jjj1jjj = fiscal ye> #bjbj2 & 7,b7 #cj1jjj1jjj = fiscal ye> #bjba4 4 7b7 ,rulemak+ au?ority ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all issue regulations to c>ry out section #g7l7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7l771 z am5d$ by subsection 7a74 #ai4 ,community ,advantage ,loan ,program ,section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 is am5d$ by add+ at ! end ! foll[+3 7#cf7 ,community ,advantage ,loan ,program 7,a7 ,purposes ,! purposes ( ! ,community ,advantage ,loan ,program are-- 7i7 to create a mission-ori5t$ loan gu>antee program t builds on ! demon/rat$ success ( ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration1 z e/abli%$ 9 #bjaa1 to rea* m und]s]v$ small bus9ess conc]ns2 7ii7 to increase l5d+ to small bus9ess conc]ns 9 und]s]v$ & rural m>kets1 includ+ vet]ans & memb]s ( ! milit>y community1 small bus9ess conc]ns own$ & controll$ by socially & economically disadvantag$ individuals1 wom51 & />tups2 7iii7 to ensure t ! program "u ?is subsection 79 ?is p>agraph ref]r$ to z ! #g7;a7 loan program7 is m inclusive & m broadly meets congressional int5t to rea* borr[]s :o are unable to get cr$it else:]e on reasonable t]ms & conditions2 7iv7 to help und]s]v$ small bus9ess conc]ns become bankable by utiliz+ ! small-doll> f9anc+ & bus9ess support exp]i5ce ( mission-ori5t$ l5d]s2 7v7 to all[ c]ta9 mission-ori5t$ l5d]s1 prim>ily nonpr(it f9ancial int]m$i>ies focus$ on economic developm5t 9 und]s]v$ m>kets1 access to gu>antees = loans "u ?is subsection 79 ?is p>agraph ref]r$ to z #g7;a7 loans7 ( n m ?an #cej1jjj & provide managem5t & te*nical assi/ance to small bus9ess conc]ns z ne$$2 7vi7 to provide c]ta9ty = ! l5d+ p>tn]s t make loans "u ?is subsection & to attract new l5d]s2 & 7vii7 to enc\rage collaboration betwe5 mission-ori5t$ & conv5tional l5d]s "u ?is subsection 9 ord] to support und]s]v$ small bus9ess conc]ns4 7,b7 ,def9itions ,9 ?is p>agraph-- 7i7 ! t]m cov]$ in/itution means-- 7,i7 a developm5t company1 z def9$ 9 section #ajc ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #ffb71 p>ticipat+ 9 ! #ejd ,loan ,gu>anty program e/abli%$ "u title ,v ( t ,act 7#ae ,u4,s4,c4 #fie et seq472 7,,ii7 a nonpr(it int]m$i>y1 z def9$ 9 subsection 7m77#aa71 p>ticipat+ 9 ! microloan program "u subsection 7m72 7,,iii7 a non-,f$]ally regulat$ entity c]tifi$ z a community developm5t f9ancial in/itution by ! ,community ,developm5t ,f9ancial ,in/itutions ,fund e/abli%$ "u section #ajd7;a7 ( ! ,riegle ,community ,developm5t & ,regulatory ,improvem5t ,act ( #aiid 7#ab ,u4,s4,c4 #dgjc7;a772 & 7,,iv7 an eligible int]m$i>y1 z def9$ 9 subsection 7l77#a71 p>ticipat+ 9 ! ,int]m$i>y ,l5d+ ,program e/abli%$ "u subsection 7l77#b72 7ii7 ! t]m exi/+ bus9ess means a small bus9ess conc]n t has be5 9 exi/5ce = n less ?an #b ye>s on ! date on :i* a loan is made to ! small bus9ess conc]n "u ! program2 7iii7 ! t]m new bus9ess means a small bus9ess conc]n t has be5 exi/5ce = n m ?an #b ye>s on ! date on :i* a loan is made to ! small bus9ess conc]n "u ! program2 7iv7 ! t]m program means ! ,community ,advantage ,loan ,program e/abli%$ "u subp>agraph 7,c72 7v7 ! t]m ,res]vi/ means a memb] ( a res]ve compon5t ( ! ,arm$ ,=ces nam$ 9 section #ajaja ( title #aj1 ,unit$ ,/ates ,code2 7vi7 ! t]m rural area means any c\nty t ! ,bureau ( ! ,c5sus has def9$ z mo/ly rural or completely rural 9 ! mo/ rec5t dec5nial c5sus2 7vii7 ! t]m s]vice-connect$ has ! mean+ giv5 ! t]m 9 section #aja7af7 ( title #ch1 ,unit$ ,/ates ,code2 7viii7 ! t]m small bus9ess conc]n 9 an und]s]v$ m>ket means a small bus9ess conc]n-- 7,i7 t is locat$ 9-- 7aa7 a l[- to mod]ate-income community2 7bb7 a ,h,u,b,zone1 z t t]m is def9$ 9 section #ca7;b72 7cc7 a community t has be5 designat$ z an emp[]m5t zone or an ent]prise community "u section #acia ( ! ,int]nal ,rev5ue ,code ( #aihf2 7dd7 a community t has be5 designat$ z a promise zone by ! ,secret>y ( ,h\s+ & ,urban ,developm5t2 7ee7 a community t has be5 designat$ z a qualifi$ opportunity zone "u section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7ff7 a rural area2 7,,ii7 = :i* m ?an #ej p]c5t ( ! employees reside 9 a l[- or mod]ate-income community2 7,,iii7 t is a />tup or new bus9ess2 7,,iv7 own$ & controll$ by socially & economically disadvantag$ individuals1 includ+ ,black ,am]icans1 ,hispanic ,am]icans1 ,native ,am]icans1 ,asian ,pacific ,am]icans1 & o!r m9orities2 7,v7 own$ & controll$ by wom52 7,,vi7 own$ & controll$ by vet]ans2 7,,vii7 own$ & controll$ by s]vice-disabl$ vet]ans2 7,,viii7 n less ?an #ea p]c5t own$ & controll$ by #a or m-- 7aa7 memb]s ( ! ,arm$ ,=ces p>ticipat+ 9 ! ,transition ,assi/ance ,program ( ! ,dep>tm5t ( ,def5se2 7bb7 ,res]vi/s2 7cc7 sp\ses ( vet]ans1 memb]s ( ! ,arm$ ,=ces1 or ,res]vi/s2 or 7dd7 surviv+ sp\ses ( vet]ans :o di$ on active duty or z a result ( a s]vice-connect$ disability2 7,,ix7 t is eligible to receive a vet]ans advantage loan2 or 7,x7 own$ & controll$ by an individual :o has complet$ a t]m ( imprisonm5t 9 a ,f$]al1 ,/ate1 or local jail or prison2 7ix7 ! t]m small bus9ess conc]n own$ & controll$ by socially & economically disadvantag$ individuals has ! mean+ giv5 ! t]m 9 section #h7;d77#c77;,c72 7x7 ! t]m />tup means a bus9ess t has n yet op5$2 & 7xi7 ! t]m vet]ans advantage loan means a loan made to a small bus9ess conc]n "u ?is subsection t is eligible = a waiv] ( ! gu>antee fee "u p>agraph 7#ah7 or ! ye>ly fee "u p>agraph 7#bc7 because ! small bus9ess conc]n is a conc]n describ$ 9 subclause 7,,vi71 7,,vii71 or 7,,viii7 ( clause 7viii74 7,c7 ,e/abli%m5t ,!re is e/abli%$ a ,community ,advantage ,loan ,program "u :i* ! ,adm9i/ration may gu>antee loans made by cov]$ in/itutions "u ?is subsection1 includ+ loans made to small bus9ess conc]ns 9 und]s]v$ m>kets4 7,d7 ,program levels ,9 ea* ( fiscal ye>s #bjbj1 #bjba1 #bjbb1 #bjbc1 #bjbd1 & #bjbe1 n m ?an #aj p]c5t ( ! numb] ( loans gu>ante$ "u ?is subsection may be gu>ante$ "u ! program4 7,e7 ,new l5d]s 7i7 ,fiscal ye>s #bjba & #bjbb ,9 ea* ( fiscal ye>s #bjba & #bjbb-- 7,i7 n m ?an #aej cov]$ in/itutions %all p>ticipate 9 ! program2 & 7,,ii7 ! ,adm9i/rator %all all[ = new applicants & give priority to applications submitt$ by any cov]$ in/itution t is locat$ 9 an area ) insuffici5t or no l5d+ "u ! program4 7ii7 ,fiscal ye>s #bjbc1 #bjbd1 & #bjbe 7,i7 ,9 g5]al ,9 ea* ( fiscal ye>s #bjbc1 #bjbd1 & #bjbe-- 7aa7 except z provid$ 9 subclause 7,,ii71 n m ?an #age cov]$ in/itutions %all p>ticipate 9 ! program2 & 7bb7 ! ,adm9i/rator %all all[ = new applicants & give priority to applications submitt$ by any cov]$ in/itution t is locat$ 9 an area ) insuffici5t or no l5d+ "u ! program4 7,,ii7 ,exception = fiscal ye> #bjbe ,9 fiscal ye> #bjbe1 n m ?an #bjj cov]$ in/itutions may p>ticipate 9 ! program if-- 7aa7 aft] review+ ! report "u subp>agraph 7,m71 ! ,adm9i/rator det]m9es t n m ?an #bjj cov]$ in/itutions may p>ticipate 9 ! program2 7bb7 ! ,adm9i/rator notifies ,congress 9 writ+ ( ! det]m9ation ( ! ,adm9i/rator "u item 7aa72 & 7cc7 n lat] ?an ,july #cj1 #bjbd1 ! ,adm9i/rator notifies ! public ( ! det]m9ation ( ! ,adm9i/rator "u item 7aa74 7,f7 ,gr&fa!r+ ( exi/+ l5d]s ,any cov]$ in/itution t p>ticipat$ 9 ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration & is 9 good /&+ on ! day be=e ! date ( enactm5t ( ?is p>agraph-- 7i7 %all reta9 designation 9 ! program2 & 7ii7 %all n be requir$ to submit an application to p>ticipate 9 ! program4 7,g7 ,requirem5t to make loans to und]s]v$ m>kets ,n less ?an #ge p]c5t ( loans made by a cov]$ in/itution "u ! program %all consi/ ( loans made to small bus9ess conc]ns 9 und]s]v$ m>kets4 7,h7 ,maximum loan am\nt 7i7 ,9 g5]al ,except z provid$ 9 clause 7ii71 ! maximum loan am\nt = a loan gu>ante$ "u ! program is #bej1jjj4 7ii7 ,exception 87,i7 ,9 g5]al ,! ,adm9i/ration may1 9 ! discretion ( ! ,adm9i/ration1 approve a gu>antee ( a loan "u ! program t is m ?an #bej1jjj & n m ?an #cej1jjj4 7,,ii7 ,notification ,n lat] ?an #b days aft] receiv+ a reque/ = an exception to ! maximum loan am\nt e/abli%$ "u clause 7i71 ! ,adm9i/ration %all-- 7aa7 review ! reque/2 & 7bb7 provide a decision reg>d+ ! reque/ to ! cov]$ in/itution mak+ ! loan4 7,i7 ,tra9+ & te*nical assi/ance ,! ,adm9i/ration-- 7i7 %all1 9 p]son & onl9e1 provide upfront & ongo+ tra9+ & te*nical assi/ance = cov]$ in/itutions mak+ loans "u ! program 9 ord] to support prud5t l5d+ /&>ds & improve ! int]face betwe5 ! cov]$ in/itutions & ! ,adm9i/ration1 :i* %all include-- 7,i7 guidance = foll[+ ! regulations ( ! ,adm9i/ration1 includ+ be/ practices = ma9ta9+ heal?y portfolios ( loans2 & 7,,ii7 directions = cov]$ in/itutions to d :at is 9 ! be/ int]e/ ( ! borr[]s1 includ+ by ensur+ to ! maximum ext5t possible t ^? borr[]s are in=m$ ab\t loans ) ! mo/ favorable t]ms = ^? borr[]s2 7ii7 %all ensure t ! tra9+ & te*nical assi/ance describ$ 9 clause 7i7 is provid$ = free or at a l[-co/2 7iii7 may ent] into a contract to provide ! tra9+ or te*nical assi/ance describ$ 9 clause 7i7 ) an organization ) exp]tise 9 l5d+ "u ?is subsection1 mission-ori5t$ l5d+1 & l5d+ to und]s]v$ m>kets2 & 7iv7 %all ensure t cov]$ in/itutions adequately report ! ext5t to :i* ! cov]$ in/itutions take ! actions requir$ "u clause 7i77,,ii74 7,j7 ,delegat$ au?ority ,a cov]$ in/itution is n eligible to receive delegat$ au?ority f ! ,adm9i/ration "u ! program until ! cov]$ in/itution makes n less ?an #aj loans "u ! program1 unless ! ,adm9i/ration det]m9es o!rwise aft] an opportunity = public comm5t = a p]iod ( n less ?an #cj days be=e implem5t+ su* a *ange4 7,k7 ,regulations 7i7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is p>agraph & 9 accordance ) ! notice & comm5t proc$ures "u section #eec ( title #e1 ,unit$ ,/ates ,code1 ! ,adm9i/rator %all promulgate regulations to c>ry out ! program1 :i* %all be sub/antially simil> to ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration1 z 9 effect on ,septemb] #a1 #bjah1 & %all-- 7,i7 outl9e ! requirem5ts = p>ticipation by cov]$ in/itutions 9 ! program2 7,,ii7 def9e p]=mance metrics = cov]$ in/itutions p>ticipat+ 9 ! program = ! fir/ "t1 :i* are requir$ to be met 9 ord] to cont9ue p>ticipat+ 9 ! program2 7,,iii7 e/abli% an acceptable range ( program co/s & level ( risk t %all be bas$ on o!r loan products-- 7aa7 ( simil> size2 7bb7 t use simil> l5d]s2 & 7cc7 t are int5d$ to rea* simil> borr[]s2 7,,iv7 det]m9e ! cr$it score ( a small bus9ess conc]n "u :i* ! ,adm9i/ration is requir$ to und]write a loan provid$ to ! small bus9ess conc]n "u ! program & ! loan may n be made us+ ! delegat$ au?ority ( a cov]$ in/itution2 7,v7 require ea* cov]$ in/itution t sells loans made "u ! program on ! second>y m>ket to e/abli% a loan loss res]ve fund1 :i*-- 7aa7 ) respect to cov]$ in/itutions 9 good /&+1 includ+ ! cov]$ in/itutions describ$ 9 subp>agraph 7,f71 %all be ma9ta9$ at a level equal to #c p]c5t ( ! out/&+ gu>ante$ portion ( ! loans2 & 7bb7 ) respect to any o!r cov]$ in/itution1 %all be ma9ta9$ at a level equal to #e p]c5t ( ! out/&+ gu>ante$ portion ( ! loans2 & 7,,vi7 all[ ! ,adm9i/rator to require additional am\nts to be deposit$ into a loan loss res]ve fund e/abli%$ by a cov]$ in/itution "u subclause 7,v7 bas$ on ! risk *>act]i/ics or p]=mance ( ! cov]$ in/itution & ! loan portfolio ( ! cov]$ in/itution4 7ii7 ,t]m9ation ( pilot program ,beg9n+ on ! date on :i* ! regulations promulgat$ by ! ,adm9i/rator "u clause 7i7 take effect1 ! ,adm9i/rator may n c>ry out ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration4 7,l7 ,,gao report ,n lat] ?an #c ye>s aft] ! date ( enactm5t ( ?is p>agraph1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ! ,adm9i/rator1 ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate1 & ! ,committee on ,small ,bus9ess ( ! ,h\se ( ,repres5tatives a report-- 7i7 assess+-- 7,i7 ! ext5t to :i* ! program fulfills ! requirem5ts ( ?is p>agraph2 & 7,,ii7 ! p]=mance ( cov]$ in/itutions p>ticipat+ 9 ! program2 & 7ii7 provid+ recomm5dations on ! adm9i/ration ( ! program & ! f9d+s "u subclauses 7,i7 & 7,,ii7 ( clause 7i74 7,m7 ,work+ gr\p 7i7 ,9 g5]al ,n lat] ?an #ij days aft] ! date ( enactm5t ( ?is p>agraph1 ! ,adm9i/rator %all e/abli% a ,community ,advantage ,work+ ,gr\p1 :i* %all-- 7,i7 include-- 7aa7 a geographically div]se repres5tation ( memb]s f among cov]$ in/itutions p>ticipat+ 9 ! program2 & 7bb7 repres5tatives f ! ,(fice ( ,capital ,access ( ! ,adm9i/ration1 includ+ ! ,(fice ( ,cr$it ,risk ,managem5t1 ! ,(fice ( ,f9ancial ,assi/ance1 & ! ,(fice ( ,economic ,opportunity2 7,,ii7 develop recomm5dations on h[ ! ,adm9i/ration c effectively manage1 support1 & promote ! program & ! mission ( ! program2 7,,iii7 e/abli% metrics ( success & b5*m>ks t reflect ! mission & population s]v$ by cov]$ in/itutions "u ! program1 :i* ! ,adm9i/ration %all use to evaluate ! p]=mance ( ^? cov]$ in/itutions2 7,,iv7 in/itute regul> & su/a9able sy/ems ( communication betwe5 ! ,adm9i/ration & cov]$ in/itutions p>ticipat+ 9 ! program2 & 7,v7 e/abli% crit]ia = cov]$ in/itutions reg>d+ :5 ^? in/itutions %\ld provide te*nical assi/ance to borr[]s "u ! program & ! scope ( t te*nical assi/ance4 7ii7 ,report ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is p>agraph1 ! ,adm9i/rator %all submit to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & ! ,committee on ,small ,bus9ess ( ! ,h\se ( ,repres5tatives a report t includes-- 7,i7 ! recomm5dations ( ! ,community ,advantage ,work+ ,gr\p e/abli%$ "u clause 7i72 & 7,,ii7 a recomm5d$ plan & timel9e = implem5tation ( ^? recomm5dations4 4 #bj4 ,accel]at+ small bus9ess innovations 7a7 ,purpose ,! purpose ( ?is section is to accel]ate ! review & aw>d ( ,,sbir & ,,/tr 7z def9$ 9 section #i ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fch77 projects at mo/ civilian ag5cies 9 ord] to spe$ ! developm5t ( innovations1 :i* is p>ticul>ly necess>y to /imulate ! economy & provide ag5cies ) new te*nologies4 7b7 ,am5dm5ts ,section #i ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fch7 is am5d$-- 7#a7 9 subsection 7g77#h7-- 7,a7 9 subp>agraph 7,b71 by /rik+ & at ! end2 7,b7 9 subp>agraph 7,c71 by add+ & at ! end2 & 7,c7 by add+ at ! end ! foll[+3 7,d7 ! av]age & m$ian am\nt ( "t t ea* ,f$]al ag5cy ) an ,,sbir program takes to review & make a f9al decision on proposals submitt$ "u ! program2 2 7#b7 9 subsection 7o77#i7-- 7,a7 9 subp>agraph 7,b71 by /rik+ & at ! end2 7,b7 9 subp>agraph 7,c71 by add+ & at ! end2 & 7,c7 by add+ at ! end ! foll[+3 7,d7 ! av]age & m$ian am\nt ( "t t ea* ,f$]al ag5cy ) an ,,/tr program takes to review & make a f9al decision on proposals submitt$ "u ! program2 2 7#c7 9 subsection 7hh71 by add+ at ! end ! foll[+3 7#c7 ,requirem5t to accel]ate ,,sbir & ,,/tr aw>ds ( civilian ag5cies ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is p>agraph1 ea* ,f$]al ag5cy p>ticipat+ 9 ! ,,sbir program or ,,/tr program1 o!r ?an ! ,dep>tm5t ( ,def5se1 %all e/abli% a process to r$uce ! "t = aw>ds "u ! ,,sbir & ,,/tr programs ( ! ,f$]al ag5cy by-- 7,a7 develop+ simplifi$ & /&>diz$ application processes & requirem5ts & simplifi$ & /&>diz$ model contracts or aw>ds ?r\gh\t ! ,f$]al ag5cy = ,phase ,i1 ,phase ,,ii1 & ,phase ,,iii ,,sbir aw>ds2 7,b7 = ,phase ,i ,,sbir & ,,/tr aw>ds1 r$uc+ ! am\nt ( "t betwe5 solicitation closure & aw>d2 7,c7 = ,phase ,,ii ,,sbir & ,,/tr aw>ds1 r$uc+ ! am\nt ( "t betwe5 ! end ( a ,phase ,i aw>d & ! />t ( ! ,phase ,,ii aw>d2 7,d7 = ,phase ,,ii ,,sbir & ,,/tr aw>ds t skip ,phase ,i1 r$uc+ ! am\nt ( "t betwe5 solicitation closure & aw>d2 7,e7 = sequ5tial ,phase ,,ii ,,sbir & ,,/tr aw>ds1 r$uc+ ! am\nt ( "t betwe5 ,phase ,,ii aw>ds2 & 7,f7 r$uc+ ! aw>d times describ$ 9 subp>agraphs 7,b71 7,c71 7,d71 & 7,e7 to n lat] ?an #ahj days ) respect to ! ,dep>tm5t ( ,heal? & ,human ,s]vices1 ! ,national ,sci5ce ,f\ndation1 & ! ,dep>tm5t ( ,agriculture1 & z close to #ij days z possible ) respect to any o!r p>ticipat+ ag5cy4 2 & 7#d7 9 subsection 7ii71 by add+ at ! end ! foll[+3 7#c7 ,additional comptroll] g5]al reports ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & ! ,committee on ,small ,bus9ess ( ! ,h\se ( ,repres5tatives-- 7,a7 n lat] ?an #b ye>s aft] ! date ( enactm5t ( ?is p>agraph1 a report t-- 7i7 provides ! av]age & m$ian am\nt ( "t t ea* ,f$]al ag5cy ) an ,,sbir or ,,/tr program takes to review & make a f9al decision on proposals submitt$ "u ! program2 & 7ii7 comp>es t av]age & m$ian am\nt ( "t ) t ( ! previ\s #e fiscal ye>s2 & 7,b7 n lat] ?an ,m>* #ca1 #bjbd1 a report t-- 7i7 includes ! in=mation describ$ 9 subp>agraph 7,a72 7ii7 assesses :]e ea* ,f$]al ag5cy p>ticipat+ 9 ! ,,sbir or ,,/tr program ne$s improvem5t ) respect to ! proposal review & aw>d times "u ! program2 7iii7 id5tifies be/ practices = %ort5+ ! proposal review & aw>d times "u ! ,,sbir & ,,/tr programs2 & 7iv7 analyzes ! efficacy ( ! program e/abli%$ "u subsection 7hh77#c74 4 #ba4 ,improvem5ts to ,,sbir_/,,/tr comm]cialization 7a7 ,purpose ,! purpose ( ?is section is to make ! small bus9ess rese>* programs p]man5t1 all[ limit$ skipp+ ( ! fir/ rese>* phase1 & designate a ,te*nology ,comm]cialization ,(fic] 9 ea* p>ticipat+ ag5cy to help companies ) comm]cialization4 7b7 ,p]man5cy ( ,,sbir & ,,/tr programs 7#a7 ,,sbir ,section #i7m7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fch7m77 is am5d$-- 7,a7 9 ! subsection head+1 by /rik+ ,t]m9ation & ins]t+ ,,sbir program au?orization2 & 7,b7 by /rik+ t]m9ate on ,septemb] #cj1 #bjbb & ins]t+ be 9 effect = ea* fiscal ye>4 7#b7 ,,/tr ,section #i7n77#a77;,a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fch7n77#a77;,a77 is am5d$ by /rik+ ?r\gh fiscal ye> #bjbb4 7c7 ,comm]cialization selection ,section #i ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fch7 is am5d$-- 7#a7 9 subsection 7g7-- 7,a7 9 p>agraph 7#d77;,b77i7-- 7i7 by /rik+ #a ye> & ins]t+ #ahj days2 & 7ii7 by /rik+ ,national ,in/itutes ( ,heal? or ! ,national ,sci5ce ,f\ndation & ins]t+ ,dep>tm5t ( ,heal? & ,human ,s]vices1 ! ,national ,sci5ce ,f\ndation1 or ! ,dep>tm5t ( ,agriculture2 7,b7 9 p>agraph 7#aa71 by /rik+ & at ! end2 7,c7 9 p>agraph 7#ab71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,d7 by add+ at ! end ! foll[+3 7#ac7 ) respect to pe] review c>ri$ out "u ! ,,sbir program1 to ! ext5t practicable1 include 9 ! pe] review-- 7,a7 ! likelihood ( comm]cialization 9 addition to sci5tific & te*nical m]it & feasibility2 & 7,b7 n less ?an #a review] ) comm]cialization exp]tise :o is capable ( assess+ ! likelihood ( comm]cialization4 2 7#b7 9 subsection 7o7-- 7,a7 9 p>agraph 7#d77;,b77i7-- 7i7 by /rik+ #a ye> & ins]t+ #ahj days2 & 7ii7 by /rik+ ,national ,in/itutes ( ,heal? or ! ,national ,sci5ce ,f\ndation & ins]t+ ,dep>tm5t ( ,heal? & ,human ,s]vices1 ! ,national ,sci5ce ,f\ndation1 or ! ,dep>tm5t ( ,agriculture2 7,b7 9 p>agraph 7#ae71 by /rik+ & at ! end2 7,c7 9 p>agraph 7#af71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,d7 by add+ at ! end ! foll[+3 7#ag7 ) respect to pe] review c>ri$ out "u ! ,,/tr program1 to ! ext5t practicable1 include 9 ! pe] review-- 7,a7 ! likelihood ( comm]cialization 9 addition to sci5tific & te*nical m]it & feasibility2 & 7,b7 n less ?an #a review] ) comm]cialization exp]tise :o is capable ( assess+ ! likelihood ( comm]cialization4 2 7#c7 9 subsection 7aa71 by add+ at ! end ! foll[+3 7#f7 ,application ( waiv] ,! waiv] au?ority "u p>agraph 7#d7 %all n apply to ,phase ,,ii aw>ds t skip ,phase ,i unless ! additional funds are ne$$ to respond to an urg5t ne$ 9 ! ,unit$ ,/ates1 su* z a p&emic4 2 7#d7 9 subsection 7cc7-- 7,a7 by /rik+ ,dur+ fiscal ye>s #bjab ?r\gh #bjbb1 ! ,national ,in/itutes ( ,heal?1 ! ,dep>tm5t ( ,def5se1 & ! ,dep>tm5t ( ,education & ins]t+ ! foll[+3 7#a7 ,9 g5]al ,dur+ fiscal ye>s #bjbj ?r\gh #bjbe1 ea* ,f$]al ag5cy ) an ,,sbir or ,,/tr program 2 & 7,b7 by add+ at ! end ! foll[+3 7#b7 ,limitation ,! total value ( aw>ds provid$ by a ,f$]al ag5cy "u ?is subsection 9 a fiscal ye> %all be-- 7,a7 except z provid$ 9 subp>agraph 7,b71 n m ?an #aj p]c5t ( ! total funds allocat$ to ! ,,sbir & ,,/tr programs ( ! ,f$]al ag5cy dur+ t fiscal ye>2 & 7,b7 ) respect to ! ,dep>tm5t ( ,heal? & ,human ,s]vices1 n m ?an #ae p]c5t ( ! total funds allocat$ to ! ,,sbir & ,,/tr programs ( ! ,dep>tm5t ( ,heal? & ,human ,s]vices dur+ t fiscal ye>4 7#c7 ,ext5sion ,dur+ fiscal ye>s #bjbd & #bjbe1 ea* ,f$]al ag5cy ) an ,,sbir or ,,/tr program may cont9ue phase flexibility z describ$ 9 ?is subsection only if-- 7,a7 ! reports requir$ "u subsection 7tt77#a77;,b7 h be5 submitt$ to ! appropriate committees2 7,b7 ! results 9 ! reports demon/rate t skipp+ ,phase ,i is effective at comm]cializ+ ,,sbir & ,,/tr projects2 & 7,c7 ! allocation p]c5tages 9 subsections 7f77#a7 & 7n77#a7 h be5 increas$ above #c4b p]c5t & 4#de p]c5t1 respectively4 2 7#e7 9 subsection 7hh77#b77;,a77i71 by /rik+ proc$ures & model contracts & ins]t+ processes & requirem5ts & simplifi$ & /&>diz$ model contracts or aw>ds2 & 7#f7 by add+ at ! end ! foll[+3 7vv7 ,te*nology ,comm]cialization ,(ficial ,ea* ,f$]al ag5cy p>ticipat+ 9 ! ,,sbir or ,,/tr program %all designate a ,te*nology ,comm]cialization ,(ficial 9 ! ,f$]al ag5cy1 :o %all-- 7#a7 h suffici5t comm]cialization exp]i5ce2 7#b7 provide assi/ance to ,,sbir & ,,/tr program aw>dees 9 comm]cializ+ & transition+ te*nologies2 7#c7 id5tify ,,sbir & ,,/tr program te*nologies ) suffici5t te*nology & comm]cialization read9ess to advance to ,phase ,,iii aw>ds or o!r non-,,sbir or ,,/tr program contracts2 7#d7 coord9ate ) ! ,te*nology ,comm]cialization ,(ficials ( o!r ,f$]al ag5cies to id5tify additional m>kets & comm]cialization pa?ways = promis+ ,,sbir & ,,/tr program te*nologies2 7#e7 submit to ! ,adm9i/ration an annual report on ! numb] ( te*nologies f ! ,,sbir or ,,/tr program t h advanc$ comm]cialization activities1 includ+ in=mation requir$ 9 ! comm]cialization impact assessm5t "u subsection 7xx7 & h[ ^? activities may relate to support ( ! div]sification ( ! ,unit$ ,/ates supply *a92 7#f7 submit to ! ,adm9i/ration an annual report on actions tak5 by ! ,f$]al ag5cy1 & ! results ( ^? actions1 to simplify1 /&>dize1 & exp$ite ! application process & requirem5ts1 proc$ures1 & contracts z requir$ "u subsection 7hh7 & describ$ 9 subsection 7xx77,e72 & 7#g7 c>ry out su* o!r duties z ! ,f$]al ag5cy det]m9es necess>y4 4 #bb4 ,spurr+ innovation 9 und]s]v$ m>kets 7a7 ,9 g5]al ,! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca et seq47 is am5d$-- 7#a7 by r$esignat+ section #di 7#ae ,u4,s4,c4 #fca note7 z section #ej2 & 7#b7 by ins]t+ aft] section #dh 7#ae ,u4,s4,c4 #fegu7 ! foll[+3 #di4 ,innovation ,c5t]s ,program 7a7 ,def9itions ,9 ?is section3 7#a7 ,accel]ator ,! t]m accel]ator means an organization-- 7,a7 t-- 7i7 works ) a />tup or gr[+ small bus9ess conc]n = a pr$et]m9$ p]iod2 & 7ii7 provides m5tor%ip & in/ruction to scale bus9esses2 & 7,b7 t may-- 7i7 provide1 b is n exclusively design$ to provide1 se$ inve/m5t 9 ex*ange = a small am\nt ( equity2 & 7ii7 (f] />tup capital or ! opportunity to raise capital f outside inve/ors4 7#b7 ,f$]ally recogniz$ area ( economic di/ress ,! t]m f$]ally recogniz$ area ( economic di/ress means-- 7,a7 a ,h,u,b,zone2 or 7,b7 an area t has be5 designat$ z-- 7i7 an emp[]m5t zone "u section #acia ( ! ,int]nal ,rev5ue ,code ( #aihf2 7ii7 a qualifi$ opportunity zone "u section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 7iii7 a ,promise ,zone by ! ,secret>y ( ,h\s+ & ,urban ,developm5t2 or 7iv7 a l[-income neighborhood or mod]ate-income neighborhood = purposes ( ! ,community ,re9ve/m5t ,act ( #aigg 7#ab ,u4,s4,c4 #bija et seq474 7#c7 ,gr[+2 newly e/abli%$2 />tup ,! t]ms gr[+1 newly e/abli%$1 & />tup1 ) respect to a small bus9ess conc]n1 mean gr[+1 newly e/abli%$1 & />tup1 respectively1 )9 ! mean+ giv5 ^? t]ms "u section #g7m74 7#d7 ,incubator ,! t]m incubator means an organization-- 7,a7 t-- 7i7 t5ds to "w ) />tup & newly e/abli%$ small bus9ess conc]ns2 & 7ii7 provides m5tor%ip to />tup & newly e/abli%$ small bus9ess conc]ns2 & 7,b7 t may-- 7i7 provide a co-work+ environm5t or a mon?-to-mon? lease program2 & 7ii7 "w ) a />tup or newly e/abli%$ small bus9ess conc]n = a pr$et]m9$ p]iod or an op5-end$ p]iod4 7#e7 ,individuals ) a disability ,! t]m individuals ) a disability means m ?an "o individual ) a disability1 z def9$ 9 section #c ( ! ,am]icans ) ,disabilities ,act ( #aiij 7#db ,u4,s4,c4 #abajb74 7#f7 ,eligible entity ,! t]m eligible entity means-- 7,a7 an in/itution describ$ 9 any ( p>agraphs 7#a7 ?r\gh 7#g7 ( section #cga7;a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajfgq7a772 7,b7 a junior or community college1 z def9$ 9 section #cab ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajeh72 or 7,c7 any nonpr(it organization associat$ ) an entity describ$ 9 subp>agraph 7,a7 or 7,b74 7#g7 ,rural area ,! t]m rural area has ! mean+ giv5 t t]m 9 section #g7m77#aa74 7#h7 ,socially & economically disadvantag$ individuals ,! t]m socially & economically disadvantag$ individual means a socially & economically disadvantag$ individual )9 ! mean+ giv5 t t]m "u section #h7;d77#c77;,c74 7b7 ,e/abli%m5t ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ! ,,covid-#ai ,recov]y by ,enhanc+ ,loan1 ,inve/m5t1 & ,education ,funds = ,small ,bus9esses ,act ( #bjbj1 ! ,adm9i/rator %all develop & beg9 implem5t+ a program 7to be kn[n z ! ,innovation ,c5t]s ,program7 to ent] into coop]ative agreem5ts ) eligible entities "u ?is section4 7c7 ,purposes ,! purposes ( ! ,innovation ,c5t]s ,program are to-- 7#a7 /imulate economic gr[? 9 und]s]v$ communities by creat+ good pay+ jobs & pa?ways to prosp]ity1 :i* are especially important 9 times ( economic d[nturn2 7#b7 increase prospects = success = small bus9ess conc]ns 9 und]s]v$ communities1 :i* (t5 suff] f high] bus9ess failure rates ?an ! national av]age2 7#c7 help create a pipel9e = small bus9ess conc]ns 9 und]s]v$ & rural m>kets into high-gr[? sectors1 :]e !y are g5]ally und]repres5t$2 7#d7 help address ! multi-decade decl9e 9 ! rate ( new bus9ess creation2 7#e7 close ! gaps t und]s]v$ small bus9ess conc]ns (t5 h 9 t]ms ( rev5ue & numb] ( employees1 :i* repres5t lo/ opportunity = ! economy2 & 7#f7 enc\rage collaboration betwe5 ! ,adm9i/ration & in/itutions ( high] le>n+ t s]ve l[-income & m9ority communities4 7d7 ,au?ority 7#a7 ,9 g5]al ,! ,adm9i/rator may-- 7,a7 ent] into coop]ative agreem5ts to provide f9ancial assi/ance to eligible entities to conduct #e-ye> projects = ! b5efit ( />tup1 newly e/abli%$1 or gr[+ small bus9ess conc]ns2 & 7,b7 r5ew a coop]ative agreem5t ent]$ into "u ?is section = additional #c-ye> p]iods1 9 accordance ) p>agraph 7#c74 7#b7 ,project requirem5ts ,a project conduct$ "u a coop]ative agreem5t "u ?is section %all-- 7,a7 include op]at+ z an accel]ator1 an incubator1 or any o!r small bus9ess innovation-focus$ project z ! ,adm9i/rator approves2 7,b7 be c>ri$ out 9 su* locations z to provide maximum accessibility & b5efits to ! small bus9ess conc]ns t ! project is int5d$ to s]ve2 7,c7 h a full-"t /aff1 includ+ a full-"t director :o %all-- 7i7 h ! au?ority to make exp5ditures "u ! budget ( ! project2 & 7ii7 manage ! activities c>ri$ out "u ! project2 7,d7 include ! jo9t provision ( programs & s]vices by ! eligible entity & ! ,adm9i/ration1 :i*-- 7i7 %all be jo9tly develop$1 negotiat$1 & agre$ ^u1 ) full p>ticipation ( bo? p>ties1 pursuant to an execut$ coop]ative agreem5t betwe5 ! eligible entity & ! ,adm9i/ration2 & 7ii7 %all include-- 7,i7 #a-to-#a individual c\nsel+ z describ$ 9 section #ba7;c77#c77;,a72 & 7,,ii7 a =mal1 /ructur$ m5tor%ip program2 7,e7 incorporate cont9u\s upgrades & modifications to ! s]vices & programs (f]$ "u ! project1 z ne$$ to meet ! *ang+ & evolv+ ne$s ( ! bus9ess community2 7,f7 involve work+ ) und]s]v$ gr\ps1 :i* include-- 7i7 wom52 7ii7 socially & economically disadvantag$ individuals2 7iii7 vet]ans2 7iv7 individuals ) disabilities2 or 7v7 />tup1 newly e/abli%$1 or gr[+ small bus9ess conc]ns locat$ 9 rural areas2 7,g7 n impose or o!rwise collect a fee or o!r comp5sation 9 connection ) p>ticipation 9 ! programs & s]vices describ$ 9 subp>agraph 7,d77ii72 & 7,h7 ensure t small bus9ess conc]ns p>ticipat+ 9 ! project h access1 includ+ ?r\gh res\rce p>tn]s1 to in=mation conc]n+ ,f$]al1 ,/ate1 & local regulations t affect small bus9ess conc]ns4 7#c7 ,cont9u$ fund+ 7,a7 ,9 g5]al ,an eligible entity t ent]s into an initial coop]ative agreem5t or a r5ewal ( a coop]ative "u p>agraph 7#a7 may submit an application = a #c-ye> r5ewal ( ! coop]ative agreem5t at su* "t1 9 su* mann]1 & accompani$ by su* in=mation z ! ,adm9i/rator may e/abli%4 7,b7 ,application & approval crit]ia 7i7 ,crit]ia ,! ,adm9i/rator %all develop & publi% crit]ia = ! consid]ation & approval ( applications = r5ewals by eligible entities "u ?is p>agraph1 :i* %all take into acc\nt ! /ructure & ! /at$ goals ( ! project4 7ii7 ,notification ,n lat] ?an #fj days aft] ! date ( ! deadl9e to submit applications = ea* fiscal ye>1 ! ,adm9i/rator %all approve or d5y any application "u ?is p>agraph & notify ! applicant = ea* su* application4 7,c7 ,priority ,9 allocat+ funds made available = coop]ative agreem5ts "u ?is section1 ! ,adm9i/rator %all give applications "u ?is p>agraph priority ov] fir/-"t applications = coop]ative agreem5ts "u p>agraph 7#a77;,a74 7#d7 ,limit on use ( funds ,am\nts receiv$ by an eligible entity "u a coop]ative agreem5t "u ?is section may n be us$ to provide capital to a p>ticipant 9 ! project c>ri$ out "u ! coop]ative agreem5t4 7#e7 ,scope ( au?ority 7,a7 ,subject to appropriations ,! au?ority ( ! ,adm9i/rator to ent] into coop]ative agreem5ts "u ?is section %all be 9 effect = ea* fiscal ye> only to ! ext5t & 9 ! am\nts z are provid$ 9 advance 9 appropriations ,acts4 7,b7 ,susp5sion1 t]m9ation1 & failure to r5ew or ext5d ,aft] ! ,adm9i/rator has ent]$ into a coop]ative agreem5t ) an eligible entity "u ?is section1 ! ,adm9i/rator %all n susp5d1 t]m9ate1 or fail to r5ew or ext5d ! coop]ative agreem5t unless ! ,adm9i/rator provides ! eligible entity ) writt5 notification sett+ =? ! reasons !re=e & af=ds ! eligible entity an opportunity = a he>+1 appeal1 or o!r adm9i/rative proce$+ "u *apt] #e ( title #e1 ,unit$ ,/ates ,code4 7e7 ,crit]ia 7#a7 ,9 g5]al ,! ,adm9i/rator %all-- 7,a7 e/abli% & rank 9 t]ms ( relative importance ! crit]ia ! ,adm9i/rator %all use 9 aw>d+ coop]ative agreem5ts "u ?is section1 :i* %all include-- 7i7 :e!r ! propos$ project w be locat$ 9-- 7,i7 a f$]ally recogniz$ area ( economic di/ress2 7,,ii7 a rural area2 or 7,,iii7 an area lack+ suffici5t entrepr5eurial developm5t res\rces1 z det]m9$ by ! ,adm9i/rator2 & 7ii7 :e!r ! propos$ project demon/rates a commitm5t to p>tn] ) core /akehold]s work+ ) small bus9ess conc]ns 9 ! relevant area1 includ+-- 7,i7 inve/m5t & l5d+ organizations2 7,,ii7 nongov]nm5tal organizations2 7,,iii7 programs ( ,/ate & local gov]nm5ts t are conc]n$ ) aid+ small bus9ess conc]ns2 7,,iv7 ,f$]al ag5cies2 & 7,v7 =-pr(it organizations ) an exp]tise 9 small bus9ess innovation2 7,b7 make publicly available1 includ+ on ! website ( ! ,adm9i/ration1 & /ate 9 ea* solicitation = applications = coop]ative agreem5ts "u ?is section ! selection crit]ia & rank+ e/abli%$ "u subp>agraph 7,a72 & 7,c7 evaluate & rank applicants = coop]ative agreem5ts "u ?is section 9 accordance ) ! selection crit]ia & rank+ e/abli%$ "u subp>agraph 7,a74 7#b7 ,cont5ts ,! crit]ia e/abli%$ "u p>agraph 7#a77;,a7-- 7,a7 = eligible entities t h 9 op]ation an accel]ator1 incubator1 or o!r small bus9ess innovation-focus$ project %all include ! record ( ! eligible entity 9 assi/+ gr[+1 newly e/abli%$1 & />tup small bus9ess conc]ns1 includ+1 = ea* ( ! #c full ye>s be=e ! date on :i* ! eligible entity applies = a coop]ative agreem5t "u ?is section1 or if ! accel]ator1 incubator1 or o!r small bus9ess innovation-focus$ project has be5 9 op]ation = less ?an #c ye>s1 = ! mo/ rec5t full ye> ! accel]ator1 incubator1 or o!r small bus9ess innovation-focus$ project 0 9 op]ation-- 7i7 ! numb] & ret5tion rate ( gr[+1 newly e/abli%$1 & />tup bus9ess conc]ns 9 ! program ( ! eligible entity2 7ii7 ! av]age p]iod ( p>ticipation by gr[+1 newly e/abli%$1 & />tup small bus9ess conc]ns 9 ! program ( ! eligible entity2 7iii7 ! total & m$ian capital rais$ by gr[+1 newly e/abli%$1 & />tup small bus9ess conc]ns p>ticipat+ 9 ! program ( ! eligible entity2 7iv7 ! numb] ( inve/m5ts or loans receiv$ by gr[+1 newly e/abli%$1 & />tup small bus9ess conc]ns p>ticipat+ 9 ! program ( ! eligible entity2 & 7v7 ! total & m$ian numb] ( employees ( gr[+1 newly e/abli%$1 & />tup small bus9ess conc]ns p>ticipat+ 9 ! program ( ! eligible entity2 & 7,b7 = all eligible entities-- 7i7 %all include :e!r ! eligible entity-- 7,i7 indicates ! /ructure & goals ( ! project2 7,,ii7 demon/rates ties to ! bus9ess community2 7,,iii7 id5tifies ! res\rces available = ! project2 7,,iv7 describes ! capabilities ( ! project1 includ+ coord9ation ) local res\rce p>tn]s & local or national l5d+ p>tn]s ( ! ,adm9i/ration2 7,v7 addresses ! unique bus9ess & economic *all5ges fac$ by ! community 9 :i* ! eligible entity is locat$ & bus9esses 9 t community2 & 7,,vi7 provides a propos$ budget & plan = use ( funds2 & 7ii7 may include any o!r crit]ia det]m9$ appropriate by ! ,adm9i/rator4 7f7 ,program exam9ation 7#a7 ,9 g5]al ,! ,adm9i/rator %all-- 7,a7 develop & implem5t an annual programmatic & f9ancial exam9ation ( ea* project conduct$ "u ?is section1 "u :i* ea* eligible entity ent]+ into a coop]ative agreem5t "u ?is section %all provide to ! ,adm9i/rator-- 7i7 an itemiz$ co/ breakd[n ( actual exp5ditures = co/s incurr$ dur+ ! prec$+ ye>2 & 7ii7 docum5tation reg>d+-- 7,i7 ! am\nt ( mat*+ assi/ance f non-,f$]al s\rces obta9$ & exp5d$ by ! eligible entity dur+ ! prec$+ ye> 9 ord] to meet ! mat*+ requirem5t2 & 7,,ii7 ) respect to any 9-k9d contributions t 7 us$ to satisfy ! mat*+ requirem5t1 v]ification ( ! exi/5ce & valuation ( ^? contributions2 & 7,b7 analyze ! results ( ea* exam9ation conduct$ "u subp>agraph 7,a7 &1 bas$ on t analysis1 make a det]m9ation reg>d+ ! programmatic & f9ancial viability ( ea* eligible entity4 7#b7 ,conditions = cont9u$ fund+ ,9 det]m9+ :e!r to cont9ue or r5ew a coop]ative agreem5t "u ?is section1 ! ,adm9i/rator-- 7,a7 %all consid] ! results ( ! mo/ rec5t exam9ation ( ! project "u p>agraph 7#a72 & 7,b7 may t]m9ate or n r5ew a coop]ative agreem5t1 if ! ,adm9i/rator det]m9es t ! eligible entity has fail$ to provide any in=mation requir$ to be provid$ 7includ+ in=mation provide = purpose ( ! annual report by ! ,adm9i/rator "u subsection 7n77 or ! in=mation provid$ by ! eligible entity is inadequate4 7g7 ,tra9+ & te*nical assi/ance ,! ,adm9i/rator-- 7#a7 %all provide 9 p]son or onl9e tra9+ & te*nical assi/ance to ea* eligible entity ent]+ into a coop]ative agreem5t "u ?is section at ! beg9n+ ( ! p>ticipation ( ! eligible entity 9 ! ,innovation ,c5t]s ,program1 or z reque/$ by ! eligible entity1 9 ord] to build ! capacity ( ! eligible entity & ensure compliance ) proc$ures e/abli%$ by ! ,adm9i/rator2 7#b7 %all ensure t ! tra9+ & te*nical assi/ance describ$ 9 p>agraph 7#a7 is provid$ at no co/ or at a l[ co/2 & 7#c7 may ent] into a contract to provide ! tra9+ or te*nical assi/ance describ$ 9 p>agraph 7#a7 ) #a or m organizations ) exp]tise 9 ! entrepr5eurial developm5t programs ( ! ,adm9i/ration1 innovation1 & entrepr5eurial developm5t4 7h7 ,coord9ation ,9 c>ry+ out a project "u ?is section1 an eligible entity may coord9ate )-- 7#a7 res\rce & l5d+ p>tn]s ( ! ,adm9i/ration2 7#b7 programs ( ,/ate & local gov]nm5ts t are conc]n$ ) aid+ small bus9ess conc]ns2 & 7#c7 o!r ,f$]al ag5cies1 includ+ to provide s]vices to & assi/ small bus9ess conc]ns 9 p>ticipat+ 9 ! ,,sbir & ,,/tr programs1 z def9$ 9 section #i7;e74 7i7 ,fund+ limit ,! am\nt ( f9ancial assi/ance provid$ to an eligible entity "u a coop]ative agreem5t ent]$ into "u ?is section %all be n m ?an #djj1jjj dur+ ea* ye>4 7j7 ,mat*+ requirem5t 7#a7 ,9 g5]al ,an eligible entity %all contribute t[>d ! co/ ( ! project c>ri$ out "u ! coop]ative agreem5t "u ?is section an am\nt equal to #ej p]c5t ( ! am\nt receiv$ "u ! coop]ative agreem5t4 7#b7 ,9-k9d contributions ,n m ?an #ge p]c5t ( ! contribution ( an eligible entity "u p>agraph 7#a7 may be 9 ! =m ( 9-k9d contributions4 7#c7 ,waiv] 7,a7 ,9 g5]al ,if ! ,adm9i/rator det]m9es t an eligible entity is unable to meet ! contribution requirem5t "u p>agraph 7#a71 ! ,adm9i/rator may r$uce ! requir$ contribution4 7,b7 ,presumption 7i7 ,9 g5]al ,! ,adm9i/ration %all1 by regulation1 e/abli% crit]ia to det]m9e :i* eligible entities are presum$ to be unable to meet ! contribution requirem5t "u p>agraph 7#a74 7ii7 ,/akehold]s ,9 e/abli%+ ! crit]ia "u clause 7i71 ! ,adm9i/rator %all "w ) /akehold]s imm$iately impact$ by ! crit]ia4 7iii7 ,p]iodic review ,! ,adm9i/ration %all p]iodically review ! crit]ia e/abli%$ "u clause 7i7 n less ?an e #e ye>s to ensure t ! crit]ia aligns ) economic conditions4 7#d7 ,failure to obta9 non-f$]al fund+ ,if an eligible entity fails to obta9 ! requir$ non-,f$]al contribution dur+ any project1 or ! r$uc$ non-,f$]al contribution z det]m9$ by ! ,adm9i/rator-- 7,a7 ! eligible entity %all n be eligible !reaft] = any o!r project = :i* x is or may be fund$ by ! ,adm9i/ration2 & 7,b7 prior to approv+ assi/ance = ! eligible entity = any o!r projects1 ! ,adm9i/rator %all specifically det]m9e :e!r ! ,adm9i/rator believes t ! eligible entity w be able to obta9 ! requisite non-,f$]al fund+ & ent] a writt5 f9d+ sett+ ! =? ! reasons = mak+ t det]m9ation4 7#e7 ,rule ( con/ruction ,! demon/rat$ inability ( an eligible entity to meet ! contribution requirem5t "u p>agraph 7#a7 %all n disqualify ! eligible entity f ent]+ into a coop]ative agreem5t "u ?is section4 7k7 ,contract au?ority 7#a7 ,9 g5]al ,an eligible entity may ent] into a contract ) a ,f$]al dep>tm5t or ag5cy to provide specific assi/ance to />tup1 newly e/abli%$1 or gr[+ small bus9ess conc]ns4 7#b7 ,p]=mance ,p]=mance ( a contract ent]$ into "u p>agraph 7#a7 may n h9d] ! eligible entity 9 c>ry+ out ! t]ms ( ! coop]ative agreem5t "u ?is section4 7#c7 ,exemption f mat*+ requirem5t ,a contract ent]$ into "u p>agraph 7#a7 %all n be subject to ! mat*+ requirem5t "u subsection 7j74 7#d7 ,additional provision ,not)/&+ any o!r provision ( law1 a contract = assi/ance "u p>agraph 7#a7 %all n be appli$ to any ,f$]al dep>tm5t or ag5cy's small bus9ess1 woman-own$ bus9ess1 or socially & economically disadvantag$ bus9ess contract+ goal "u section #ae7;g74 7l7 ,privacy requirem5ts 7#a7 ,9 g5]al ,an eligible entity may n disclose ! "n1 address1 or telephone numb] ( any individual or small bus9ess conc]n receiv+ assi/ance "u ?is section )\t ! cons5t ( su* individual or small bus9ess conc]n1 unless-- 7,a7 ! ,adm9i/rator is ord]$ to make su* a disclosure by a c\rt 9 any civil or crim9al en=cem5t action initiat$ by a ,f$]al or ,/ate ag5cy2 or 7,b7 ! ,adm9i/rator consid]s su* a disclosure to be necess>y = ! purpose ( conduct+ a f9ancial audit ( an eligible entity1 b a disclosure "u ?is subp>agraph %all be limit$ to ! in=mation necess>y = su* audit4 7#b7 ,adm9i/ration use ( in=mation ,?is subsection %all n-- 7,a7 re/rict ,adm9i/ration access to program activity data2 or 7,b7 prev5t ! ,adm9i/ration f us+ cli5t in=mation 7o!r ?an ! in=mation describ$ 9 subp>agraph 7,a77 to conduct cli5t surveys4 7#c7 ,regulations ,! ,adm9i/rator %all issue regulations to e/abli% /&>ds = requir+ disclosures dur+ a f9ancial audit "u p>agraph 7#a77;,b74 7m7 ,publication ( in=mation ,! ,adm9i/rator %all-- 7#a7 publi% in=mation ab\t ! program "u ?is section onl9e1 includ+-- 7,a7 on ! website ( ! ,adm9i/ration2 & 7,b7 on ! social m$ia ( ! ,adm9i/ration2 & 7#b7 reque/ t ! res\rce & l5d+ p>tn]s ( ! ,adm9i/ration & ! di/rict (fices ( ! ,adm9i/ration publicize ! program4 7n7 ,annual report+ ,n lat] ?an #a ye> aft] ! date on :i* ! ,adm9i/rator e/abli%es ! program "u ?is section1 & e ye> !reaft]1 ! ,adm9i/rator %all submit to ,congress a report on ! activities "u ! program1 includ+-- 7#a7 a li/ ( all eligible entities p>ticipat+ 9 ! program2 7#b7 ! numb] ( />tup1 newly e/abli%$1 & gr[+ small bus9ess conc]ns p>ticipat+ 9 ! project c>ri$ out by ea* eligible entity "u a coop]ative agreem5t "u ?is section 79 ?is p>agraph ref]r$ to z p>ticipants71 includ+ a breakd[n ( ! own]s ( ! p>ticipants by race1 g5d]1 vet]an /atus1 & urban v]sus rural location2 7#c7 ! ret5tion rate = p>ticipants2 7#d7 ! total & m$ian am\nt ( capital access$ by p>ticipants1 includ+ ! type ( capital access$2 7#e7 ! total & m$ian numb] ( employees ( p>ticipants2 7#f7 ! numb] & m$ian wage ( jobs creat$ by p>ticipants2 7#g7 ! numb] ( jobs su/a9$ by p>ticipants2 & 7#h7 in=mation reg>d+ su* o!r metrics z ! ,adm9i/rator det]m9es appropriate4 7o7 ,fund+ 7#a7 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ to c>ry out ?is section-- 7,a7 #d1jjj1jjj = ! fir/ fiscal ye> beg9n+ aft] ! date ( enactm5t ( ! ,,covid-#ai ,recov]y by ,enhanc+ ,loan1 ,inve/m5t1 & ,education ,funds = ,small ,bus9esses ,act ( #bjbj2 7,b7 #g1ejj1jjj = ! second fiscal ye> beg9n+ aft] su* date ( enactm5t2 & 7,c7 #ab1jjj1jjj = ea* ( ! ?ird1 f\r?1 & fif? fiscal ye>s beg9n+ aft] su* date ( enactm5t4 7#b7 ,adm9i/rative exp5ses ,( ! am\nt made available to c>ry out ?is section = any fiscal ye>1 n m ?an #aj p]c5t may be us$ by ! ,adm9i/rator = adm9i/rative exp5ses4 4 7b7 ,regulations ,! ,adm9i/rator %all promulgate regulations to c>ry out section #di ( ! ,small ,bus9ess ,act1 z add$ by subsection 7b74 #bc4 ,coord9at+ l5d+ 9 und]s]v$ m>kets ,section #g ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7 is am5d$ by add+ at ! end ! foll[+3 7o7 ,(fice ( em]g+ m>kets 7#a7 ,def9itions ,9 ?is subsection-- 7,a7 ! t]m ,associate ,adm9i/rator means ! ,associate ,adm9i/rator ( ! ,(fice ( ,capital ,access ( ! ,adm9i/ration2 7,b7 ! t]m ,director means ! ,director ( ! ,(fice ( ,em]g+ ,m>kets2 7,c7 ! t]m microloan program means ! program describ$ 9 subsection 7m72 7,d7 ! t]m ,res]vi/ means a memb] ( a res]ve compon5t ( ! ,arm$ ,=ces nam$ 9 section #ajaja ( title #aj1 ,unit$ ,/ates ,code2 7,e7 ! t]m rural area has ! mean+ giv5 ! t]m 9 subsection 7m77#aa72 7,f7 ! t]m s]vice-connect$ has ! mean+ giv5 ! t]m 9 section #aja ( title #ch1 ,unit$ ,/ates ,code2 & 7,g7 ! t]m small bus9ess conc]n 9 an em]g+ m>ket means a small bus9ess conc]n-- 7i7 t is locat$ 9-- 7,i7 a l[ income or mod]ate income area = purposes ( ! ,community ,developm5t ,block ,grant ,program "u title ,i ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecja et seq472 7,,ii7 a ,h,u,b,zone2 7,,iii7 a community t has be5 designat$ z an emp[]m5t zone or an ent]prise community "u section #acia ( ! ,int]nal ,rev5ue ,code ( #aihf2 7,,iv7 a community t has be5 designat$ z a ,promise ,zone by ! ,secret>y ( ,h\s+ & ,urban ,developm5t2 7,v7 a community t has be5 designat$ z a qualifi$ opportunity zone "u section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7,,vi7 a rural area2 7ii7 t has m ?an #ej p]c5t ( employees resid+ 9 a l[- or mod]ate-income community2 7iii7 t is gr[+1 newly e/abli%$1 or a />tup1 z ^? t]ms are us$ 9 subsection 7m72 7iv7 own$ & controll$ by socially & economically disadvantag$ individuals1 includ+ ,black ,am]icans1 ,hispanic ,am]icans1 ,native ,am]icans1 ,asian ,pacific ,am]icans1 & o!r m9orities2 7v7 own$ & controll$ by wom52 7vi7 own$ & controll$ by vet]ans2 7vii7 own$ & controll$ by s]vice-disabl$ vet]ans2 or 7viii7 n less ?an #ea p]c5t own$ & controll$ by #a or m-- 7,i7 memb]s ( ! ,arm$ ,=ces p>ticipat+ 9 ! ,transition ,assi/ance ,program ( ! ,dep>tm5t ( ,def5se2 7,,ii7 ,res]vi/s2 7,,iii7 sp\ses ( vet]ans1 memb]s ( ! ,arm$ ,=ces1 or ,res]vi/s2 7,,iv7 surviv+ sp\ses ( vet]ans :o di$ on active duty or z a result ( a s]vice-connect$ disability2 or 7,v7 individuals ) a disability1 z def9$ 9 section #c ( ! ,am]icans ) ,disabilities ,act ( #aiij 7#db ,u4,s4,c4 #abajb74 7#b7 ,e/abli%m5t ,!re is e/abli%$ )9 ! ,adm9i/ration ! ,(fice ( ,em]g+ ,m>kets1 :i* %all be-- 7,a7 "u ! g5]al managem5t & ov]sight ( ! ,adm9i/ration2 & 7,b7 responsible = ! plann+1 coord9ation1 implem5tation1 evaluation1 & improvem5t ( ! ef=ts ( ! ,adm9i/rator to enhance ! economic well-be+ ( small bus9ess conc]ns 9 an em]g+ m>ket4 7#c7 ,purposes ,! purposes ( ! ,(fice ( ,em]g+ ,m>kets are-- 7,a7 to provide ! ,adm9i/ration ) an integrat$ approa* to ! developm5t ( small bus9ess conc]ns 9 em]g+ m>kets2 7,b7 to reignite economic opportunity = und]s]v$ or em]g+ m>kets1 p>ticul>ly aft] an economic d[nturn2 & 7,c7 to ov]see ! expansion ( access to capital programs t meet ! ne$s ( em]g+ m>kets4 7#d7 ,director 7,a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ! ,,covid-#ai ,recov]y by ,enhanc+ ,loan1 ,inve/m5t1 & ,education ,funds = ,small ,bus9esses ,act ( #bjbj1 ! ,adm9i/rator %all appo9t a ,director ( ! ,(fice ( ,em]g+ ,m>kets1 :o %all-- 7i7 sup]vise ! ,(fice ( ,em]g+ ,m>kets & report to ! ,associate ,adm9i/rator2 & 7ii7 be 9 ! ,s5ior ,executive ,s]vice4 7,b7 ,duties ,! ,director %all-- 7i7 create & implem5t /rategies & programs t provide an integrat$ approa* to ! developm5t ( small bus9ess conc]ns 9 an em]g+ m>ket2 7ii7 develop & recomm5d policies conc]n+ ! microloan program & any o!r access to capital program ( ! ,adm9i/ration1 z su* programs p]ta9 to small bus9ess conc]ns 9 an em]g+ m>ket2 7iii7 e/abli% p>tn]%ips to advance ! goal ( improv+ ! economic success ( small bus9ess conc]ns 9 an em]g+ m>ket2 & 7iv7 review ! effectiv5ess & impact ( ! microloan program & any o!r access to capital program ( ! ,adm9i/ration t is t>get$ to s]ve small bus9ess conc]ns 9 an em]g+ m>ket4 7,c7 ,consultation ,9 c>ry+ out ! duties "u ?is p>agraph1 ! ,director %all consult ) di/rict (fices ( ! ,adm9i/ration4 4 #bd4 ,au?orization ( appropriations & o!r matt]s 7a7 ,au?orization ( appropriations ,9 addition to am\nts provid$ "u any o!r provision ( law1 !re is au?oriz$ to be appropriat$1 to rema9 available until exp5d$-- 7#a7 #e1jjj1jjj1jjj to c>ry out sections #h1 #i1 #aj1 & #aa2 7#b7 #agg1jjj1jjj = adm9i/rative exp5ses relat$ to c>ry+ out ! disa/] loan program "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b772 7#c7 #a1jjj1jjj1jjj = loan subsidies = ! disa/] loan program "u section #g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77#b772 & 7#d7 #bjj1jjj1jjj = sal>ies & exp5ses = ! ,adm9i/ration4 7b7 ,all[able uses ( #g7;a7 program loans 7#a7 ,9 g5]al ,dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,septemb] #cj1 #bjba1 a recipi5t ( a loan made "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 7includ+ a recipi5t ( assi/ance "u ! ,community ,advantage ,pilot ,program ( ! ,adm9i/ration7 may1 9 addition to ! all[able uses ( su* a loan1 use ! proce$s ( ! loan = payroll support1 includ+ paid sick1 m$ical1 or family leave1 & co/s relat$ to ! cont9uation ( gr\p heal? c>e b5efits dur+ ^? p]iods ( leave4 7#b7 ,guidance ,n lat] ?an #ae days aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all issue guidance to l5d]s "u section #g7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77 on payroll & support & disrupt$ supply *a9 eligibility "u p>agraph 7#a74 #be4 ,em]g5cy rulemak+ au?ority ,n lat] ?an #ae days aft] ! date ( enactm5t ( ?is ,act1 ! ,adm9i/rator %all issue regulations to c>ry out ?is ,act )\t reg>d to ! notice requirem5ts "u section #eec7;b7 ( title #e1 ,unit$ ,/ates ,code4