,,ii #aafth ,,congress #b;d ,session ,s4 #cghg ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bj1 #bjbj,ms4 ,harris 7for herself1 ,mrs4 ,gillibrand1 ,mr4 ,wyden1 ,mr4 ,markey1 ,ms4 ,klobuchar1 ,ms4 ,warren1 ,ms4 ,duckworth1 and ,mr4 ,reed7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to permit the ,secretary of the ,treasury to provide direct funding to certain entities4 #a4 ,short title ,this ,act may be cited as the ,saving ,our ,street ,act4 #b4 ,grants to small businesses 7a7 ,definition ,in this section3 7#a7 ,covered period ,the term covered period means the period beginning on ,february #ae1 #bjbj1 and ending on ,december #ca1 #bjbj4 7#b7 ,eligible entity ,the term eligible entity-- 7,a7 means an entity that-- 7i7 is-- 7,i7 a community small business1 including a self-employed worker1 independent contractor1 or sole proprietor1 or a community nonprofit with less than-- 7aa7 #a1jjj1jjj in gross revenue2 7bb7 #ejj1jjj in gross receipts for nonprofits2 or 7cc7 #aj employees2 or 7,,ii7 a small business with-- 7aa7 less than #bj employees in a low-income community2 and 7bb7 not less than #ej percent of employees who live in a low-income community2 and 7ii7 has suffered a drop in revenue of over #bj percent of gross revenue since ,february #ae1 #bjbj2 and 7,b7 does not include entities that are publicly traded companies1 private equity firms1 or hedge funds4 7#c7 ,employee ,the term employee includes-- 7,a7 individuals employed on a full-time1 part-time1 or other basis2 7,b7 independent contractors2 7,c7 any individual in a jurisdiction subject to a stay-at-home order1 even if the employee has not physically returned to work4 7#d7 ,low-income community ,the term low-income community means a census tract 7or equivalent geographic area defined by the ,united ,states ,census ,bureau7 in which at least #ej percent of households have an income less than #fj percent of the area median gross income1 as determined by the ,secretary of ,housing and ,urban ,development4 7#e7 ,payroll costs ,the term payroll costs means-- 7,a7 the sum of payments of any compensation that is a-- 7i7 salary1 wage1 commission1 or similar compensation2 7ii7 payment of cash tip or equivalent2 7iii7 payment for vacation1 parental1 family1 medical1 or sick leave2 7iv7 allowance for dismissal or separation2 7v7 payment required for the provisions of group health care benefits1 including insurance premiums2 7vi7 payment of any retirement benefit2 or 7vii7 payment of ,state or local tax assessed on the compensation of employees or owners2 7,b7 the sum of payments of any compensation to or income of a sole proprietor or independent contractor-- 7i7 that is a wage1 commission1 income1 net earnings from self-employment1 or similar compensation2 and 7ii7 in an amount that is not more than #ajj1jjj in #a year1 as prorated for the covered period2 7,c7 the compensation of an individual employee in excess of an annual salary of #ajj1jjj1 as prorated for the covered period2 7,d7 qualified sick leave wages for which a credit is allowed under section #gjja of the ,families ,first ,coronavirus ,response ,act 7,public ,law #aaf-abg72 or 7,e7 qualified family leave wages for which a credit is allowed under section #gjjc of the ,families ,first ,coronavirus ,response ,act 7,public ,law #aaf-abg74 7#f7 ,socially and economically disadvantaged individuals ,the term socially and economically disadvantaged individuals means individuals described in paragraphs 7#e7 and 7#f7 of section #h7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcg7;a774 7#g7 ,veterans organization ,the term veterans organization means an organization that is described in section #eja7;c77#ai7 of the ,internal ,revenue ,code that is exempt from taxation under section #eja7;a7 of such ,code4 7b7 ,grants 7#a7 ,in general ,the ,secretary of the ,treasury shall create the ,microbusiness ,assistance ,fund which may provide a grant to an eligible entity in an amount not greater than #bej1jjj to be used only for-- 7,a7 rehiring or hiring employees of the entity who were furloughed or laid off after ,february #ae1 #bjbj2 7,b7 payment of1 on or after the date described in subparagraph 7,a71 payroll1 salaries1 commissions1 or similar compensations1 payroll taxes1 employer compensation1 rent 7including under a lease agreement7 or mortgage1 including payments of interest on any mortgage obligation 7not including prepayment of or payment of principal on a mortgage obligation71 utilities1 or insurance2 7,c7 providing healthcare and benefits to employees at the same or similar levels as the entity provided on the date described in subparagraph 7,a71 including continuation of group healthcare benefits during periods of paid sick1 medical1 or family leave1 and insurance premiums2 and 7,d7 debt obligations that were incurred before the covered period4 7#b7 ,eligibility ,no person shall be denied a grant under this subsection on the basis of-- 7,a7 any criminal history or involvement with the criminal legal system2 or 7,b7 using an individual taxpayer identification number issued pursuant to section #faji7;i7 of the ,internal ,revenue ,code of #aihf4 7#c7 ,priority 7,a7 ,in general ,the ,secretary shall give priority to people of color1 veterans1 women-owned community businesses1 and socially and economically disadvantaged individuals as it pertains to historically underrepresented businesses4 7,b7 ,historically underrepresented businesses ,of the amounts made available under this section1 #ge percent shall be provided to businesses or nonprofits owned and controlled by one or more socially and economically disadvantaged individuals4 7#d7 ,other assistance ,an entity that receives a grant under this subsection shall be eligible to receive assistance under other ,federal programs1 including the paycheck protection program established under section #g7;a77#cf7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#cf77 or an economic injury disaster loan made under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 if the funds are used for a purpose other than a purpose described in paragraph 7#a74 7#e7 ,sense of ,congress ,it is the sense of ,congress that eligible entities should rehire employees described in paragraph 7#a77;,a7 after the date on which the national emergency under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq47 with respect to the coronavirus disease #bjai 7,,covid-#ai7 terminates4 7c7 ,amounts 7#a7 ,in general ,of the amounts made available under this ,act-- 7,a7 #abd1ejj1jjj1jjj shall be used for grants made under subsection 7b72 7,b7 #djj1jjj1jjj shall be used to provide financial education training classes and for help applying for the grants and financial recovery for eligible entities1 of which-- 7i7 #ej1jjj1jjj shall be used to provide small businesses and women development centers with technical assistance and online training and information1 of which-- 7,i7 #be1jjj1jjj shall be made available for small businesses2 and 7,,ii7 #be1jjj1jjj shall be made available for women development centers2 7ii7 #ej1jjj1jjj shall be used to provide minority business centers with technical assistance and online training and information2 and 7iii7 #cjj1jjj1jjj shall be used to provide nonprofit and community organizations with assistance to small business owners2 and 7,c7 #ajj1jjj1jjj shall be made available for the ,department of the ,treasury and the ,internal ,revenue ,service to carry out this ,act4 7#b7 ,availability ,funds made available under this ,act shall be available until ,december #bj1 #bjbj4 7d7 ,need ,an eligible entity shall attest in an application for a grant under this section that the eligible entity-- 7#a7 was in business as of ,february #ae1 #bjbj2 7#b7 has suffered a drop in sales of #bj percent or more2 7#c7 meets the criteria as an eligible entity2 and 7#d7 will use the grants for authorized expenses4 7e7 ,documentation ,an eligible self-employed individual1 independent contractor1 or sole proprietorship applying for a grant under this section shall submit such documentation as is necessary to establish such individual as eligible1 including payroll tax filings reported to the ,internal ,revenue ,service1 ,forms #ajii-,,misc1 and income and expenses from the sole proprietorship1 as determined by the ,administrator of the ,small ,business ,administration and the ,secretary of the ,treasury4 ,an applicant may submit to the ,secretary of the ,treasury a self-certification for employee labor expenses and payroll4 7f7 ,materials ,any application or informational material related to the grant program provided by ,department of the ,treasury or the ,internal ,revenue ,service shall be made available in the ten most used languages in the ,united ,states after ,english4 7g7 ,receipt of funds ,any eligible entity shall receive a grant made under subsection 7b7 not later than #ad days after the date on which the entity submitted an application for the grant4 7h7 ,reporting ,the ,secretary of the ,treasury shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs and the ,committee on ,small ,business and ,entrepreneurship of the ,senate and the ,committee on ,financial ,service1 the ,committee on ,small ,business1 and the ,committee on ,oversight and ,reform of the ,house of ,representatives a report on the information about the ethnicity1 race1 industry1 geographical demographics1 and sex of applicants for grants made under this section4 #c4 ,direct appropriation 7a7 ,in general ,there is appropriated1 out of amounts in the ,treasury not otherwise appropriated1 to the ,secretary of the ,treasury #abe1jjj1jjj1jjj to carry out this ,act4 7b7 ,emergency designation 7#a7 ,in general ,the amounts provided under this ,act are designated as an emergency requirement pursuant to section #d7;g7 of the ,statutory ,pay-,as-,you-,go ,act of #bjaj 7#b ,u4,s4,c4 #icc7;g774 7#b7 ,designation in ,senate ,in the ,senate1 this ,act is designated as an emergency requirement pursuant to section #daab7;a7 of ,h4 ,con4 ,res4 #ga 7#aaeth ,congress71 the concurrent resolution on the budget for fiscal year #bjah4