,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #dbfh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bb1 #bjbj,ms4   
,hassan 7= h]self & ,mr4 ,burr7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to improve         
coord9ation betwe5 ! pay*eck protection 
program & employee ret5tion tax cr$it4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,employ] ,assi/ance ,coord9ation ,act4
  #b4 ,improv$ coord9ation betwe5       
pay*eck protection program & employee   
ret5tion tax cr$it  7a7 ,am5dm5t to     
pay*eck protection program ,section     
#aajf7;a77#h7 ( ! ,,c>es ,act 7,public  
,law #aaf-acf7 is am5d$ by ins]t+ 1     
except t su* co/s %all n include        
qualifi$ wages tak5 into acc\nt 9       
det]m9+ ! cr$it all[$ "u section #bcja (
 ?is ,act be=e ! p]iod at ! end4  7b7   
,am5dm5ts to employee ret5tion tax cr$it
  7#a7 ,9 g5]al ,section #bcja7;g7 ( !  
,,c>es ,act 7,public ,law #aaf-acf7 is  
am5d$ to read z foll[s3  7g7 ,election  

,to n take c]ta9 wages into acc\nt  7#a7
 ,9 g5]al ,?is section %all n apply to  
qualifi$ wages paid by an eligible      
employ] ) respect to :i* su* employ]    
makes an election 7at su* "t & 9 su*    
mann] z ! ,secret>y may prescribe7 to h 
?is section n apply to su* wages4  7#b7 
,coord9ation ) pay*eck protection       
program ,! ,secret>y1 9 consultation ) !
 ,adm9i/rator ( ! ,small ,bus9ess       
,adm9i/ration1 %all issue guidance      
provid+ t payroll co/s paid or incurr$  
dur+ ! cov]$ p]iod %all n fail to be    
treat$ z qualifi$ wages "u ?is section  
by reason ( an election "u p>agraph 7#a7
 to ! ext5t t a cov]$ loan ( ! eligible 
employ] is n =giv5 by reason ( a        
decision "u section #aajf7;g74 ,t]ms us$
 9 ! prec$+ s5t5ce :i* are also us$ 9   
section #aajf %all h ! same mean+ z :5  
us$ 9 su* section4  4  7#b7 ,con=m+     
am5dm5ts  7,a7 ,section #bcja ( ! ,,c>es
 ,act 7,public ,law #aaf-acf7 is am5d$  
by /rik+ subsection 7j74  7,b7 ,section 
#bcja7l7 ( ! ,,c>es ,act 7,public ,law  

#aaf-acf7 is am5d$ by /rik+ p>agraph    
7#c7 & by r$esignat+ p>agraphs 7#d7 &   
7#e7 z p>agraphs 7#c7 & 7#d71           
respectively4  7c7 ,effective date ,!   
am5dm5ts made by ?is section %all take  
effect z if includ$ 9 ! provisions ( !  
,,c>es ,act 7,public ,law #aaf-acf7 to  
:i* !y relate4