,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #affi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #i1 #bjba,mr4    
,gre5 ( ,texas 7= himself & ,ms4 ,wat]s7
 introduc$ ! foll[+ bill2 :i* 0 ref]r$  
to ! ,committee on ,f9ancial ,s]vices   
,a ,,bill  ,to am5d ! ,/ate ,small      
,bus9ess ,cr$it ,initiative ,act ( #bjaj
 to respond to ! ,,covid-#ai p&emic1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,/ate ,small       
,bus9ess ,cr$it ,initiative ,r5ewal     
,act4  #b4 ,reau?orization ( ! ,/ate    
,small ,bus9ess ,cr$it ,initiative ,act 
( #bjaj  7a7 ,reau?orization  7#a7 ,9   
g5]al ,! ,/ate ,small ,bus9ess ,cr$it   
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egja et seq47 is am5d$-- 7,a7 9 section
 #cjjc-- 7i7 9 subsection 7b7-- 7,i7 by 
am5d+ p>agraph 7#a7 to read z foll[s3   
7#a7 ,9 g5]al ,n lat] ?an #cj days aft] 
! date ( enactm5t ( subsection 7d71 !   
,secret>y %all allocate ,f$]al funds to 
p>ticipat+ ,/ates s t ea* ,/ate is      
eligible to receive an am\nt equal to   

:at ! ,/ate w\ld receive "u ! #bjba     
allocation1 z det]m9$ "u p>agraph 7#b74 
2  7,,ii7 9 p>agraph 7#b7-- 7aa7 by     
/rik+ #bjji ea* place su* t]m appe>s &  
ins]t+ #bjba2  7bb7 by /rik+ #bjjh ea*  
place su* t]m appe>s & ins]t+ #bjbj2    
7cc7 9 subp>agraph 7,a71 by /rik+ ,!    
,secret>y & ins]t+ ,) respect to ,/ates 
o!r ?an ,tribal gov]nm5ts1 ! ,secret>y2 
7dd7 9 subp>agraph 7,c77i71 by /rik+    
#bjjg & ins]t+ #bjai2 &  7ee7 by add+ at
 ! end ! foll[+3  7,c7 ,sep>ate         
allocation = ,tribal gov]nm5ts  7i7 ,9  
g5]al ,) respect to ,/ates t are ,tribal
 gov]nm5ts1 ! ,secret>y %all det]m9e !  
#bjba allocation by allocat+            
#ejj1jjj1jjj among ! ,tribal gov]nm5ts 9
 ! proportion ! ,secret>y det]m9es      
appropriate1 includ+ ) consid]ation to  
available employm5t & economic data     
reg>d+ ea* su* ,tribal gov]nm5t4  7ii7  
,notice ( int5t2 tim+ ( allocation ,)   
respect to allocations to ,/ates t are  
,tribal gov]nm5ts1 ! ,secret>y may--    
7,i7 require ,tribal gov]nm5ts t wi% to 

p>ticipate 9 ! ,program to file a notice
 ( int5t ) ! ,secret>y n lat] ?an #cj   
days aft] ! date ( enactm5t ( subsection
 7d72 &  7,,ii7 not)/&+ p>agraph 7#a71  
allocate ,f$]al funds to p>ticipat+     
,tribal gov]nm5ts n lat] ?an #fj days   
aft] ! date ( enactm5t ( subsection 7d74
  7,d7 ,employm5t data ,if ! ,secret>y  
det]m9es t employm5t data ) respect to a
 ,/ate is unavailable f ! ,bureau (     
,labor ,/ati/ics ( ! ,dep>tm5t ( ,labor1
 ! ,secret>y %all consid] su* o!r       
economic & employm5t data t is o!rwise  
available = purposes ( det]m9+ !        
employm5t data ( su* ,/ate4  2 &        
7,,iii7 by /rik+ p>agraph 7#c72 &  7ii7 
9 subsection 7c7-- 7,i7 9 p>agraph      
7#a77;,a77iii71 by ins]t+ be=e ! p]iod !
 foll[+3 t h deliv]$ loans or inve/m5ts 
to eligible bus9esses2 &  7,,ii7 by     
am5d+ p>agraph 7#d7 to read z foll[s3   
7#d7 ,t]m9ation ( availability ( am\nts 
n transf]r$  7,a7 ,9 g5]al ,any portion 
( a p>ticipat+ ,/ate's allocat$ am\nt t 
has n be5 transf]r$ to ! ,/ate "u ?is   

section may be deem$ by ! ,secret>y to  
be no long] allocat$ to ! ,/ate & no    
long] available to ! ,/ate & %all be    
return$ to ! g5]al fund ( ! ,treasury or
 reallocat$ z describ$ "u subp>agraph   
7,b71 if-- 7i7 ! second #a_/c ( a       
,/ate's allocat$ am\nt has n be5        
transf]r$ to ! ,/ate be=e ! end ( ! end 
( ! #c-ye> p]iod beg9n+ on ! date t !   
,secret>y approves ! ,/ate =            
p>ticipation2 or  7ii7 ! la/ #a_/c ( a  
,/ate's allocat$ am\nt has n be5        
transf]r$ to ! ,/ate be=e ! end ( ! end 
( ! #e-ye> p]iod beg9n+ on ! date t !   
,secret>y approves ! ,/ate =            
p>ticipation4  7,b7 ,reallocation ,any  
am\nt deem$ by ! ,secret>y to be no     
long] allocat$ to a ,/ate & no long]    
available to su* ,/ate "u subp>agraph   
7,a7 may be reallocat$ by ! ,secret>y to
 o!r p>ticipat+ ,/ates4 ,9 mak+ su* a   
reallocation1 ! ,secret>y %all n take   
into acc\nt ! m9imum allocation         
requirem5ts "u subsection 7b77#b77;,b7  
or ! specific allocation = ,tribal      

gov]nm5ts describ$ "u subsection        
7b77#b77;,c74  2  7,b7 9 section        
#cjjd7;d71 by /rik+ date ( enactm5t (   
?is ,act ea* place x appe>s & ins]t+    
date ( ! enactm5t ( section #cjjc7;d72  
7,c7 9 section #cjje7;b71 by /rik+ date 
( enactm5t ( ?is ,act ea* place x appe>s
 & ins]t+ date ( ! enactm5t ( section   
#cjjc7;d72  7,d7 9 section              
#cjjf7;b77#d71 by /rik+ date ( enactm5t 
( ?is ,act & ins]t+ date ( ! enactm5t ( 
section #cjjc7;d72  7,e7 9 section      
#cjjg7;b71 by /rik+ ,m>* #ca1 #bjaa &   
ins]t+ ,m>* #ca1 #bjbb2  7,f7 9 section 
#cjji1 by /rik+ date ( enactm5t ( ?is   
,act ea* place x appe>s & ins]t+ date ( 
! enactm5t ( section #cjjc7;d72 &  7,g7 
9 section #cjaa7;b71 by /rik+ date ( !  
enactm5t ( ?is ,act ea* place x appe>s &
 ins]t+ date ( ! enactm5t ( section     
#cjjc7;d74  7#b7 ,appropriation  7,a7 ,9
 g5]al ,!re is h]eby appropriat$ to !   
,secret>y ( ! ,treasury1 out ( funds 9 !
 ,treasury n o!rwise appropriat$1       
#aj1jjj1jjj1jjj to c>ry out ! ,/ate     

,small ,bus9ess ,cr$it ,initiative      
e/abli%$ "u ! ,/ate ,small ,bus9ess     
,cr$it ,initiative ,act ( #bjaj1 includ+
 to pay reasonable co/s ( adm9i/]+ su*  
,initiative4  7,b7 ,rescission ,)       
respect to am\nts appropriat$ "u        
subp>agraph 7,a7-- 7i7 ! ,secret>y ( !  
,treasury %all complete all disbursem5ts
 & rema9+ obligations be=e ,septemb]    
#cj1 #bjcj2 &  7ii7 any am\nts t rema9  
unexp5d$ 7:e!r obligat$ or unobligat$7  
on ,septemb] #cj1 #bjcj1 %all be resc9d$
 & deposit$ into ! g5]al fund ( !       
,treasury4  7b7 ,additional allocations 
to support bus9ess ent]prises own$ &    
controll$ by socially & economically    
disadvantag$ individuals ,section #cjjc 
( ! ,/ate ,small ,bus9ess ,cr$it        
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egjb7 is am5d$ by add+ at ! end !      
foll[+3  7d7 ,additional allocations to 
support bus9ess ent]prises own$ &       
controll$ by socially & economically    
disadvantag$ individuals ,( ! am\nts    
appropriat$ to c>ry out ! ,program1 !   

,secret>y %all-- 7#a7 ensure t          
#a1ejj1jjj1jjj f funds allocat$ "u ?is  
section %all be exp5d$ = bus9ess        
ent]prises own$ & controll$ by socially 
& economically disadvantag$ individuals2
 &  7#b7 allocate su* am\nts to ,/ates  
bas$ on ! ne$s ( bus9ess ent]prises own$
 & controll$ by socially & economically 
disadvantag$ individuals1 z det]m9$ by !
 ,secret>y1 9 ea* ,/ate1 & n subject to 
! allocation =mula describ$ "u          
subsection 7b74  7e7 ,support+ bus9ess  
ent]prises own$ & controll$ by socially 
& economically disadvantag$ individuals 
,9 allocat+ funds to p>ticipat+ ,/ates  
"u ?is section1 ! ,secret>y %all e/abli%
 a m9imum am\nt ( support t a ,/ate %all
 provide to bus9ess ent]prises own$ &   
controll$ by socially & economically    
disadvantag$ individuals4  7f7 ,inc5tive
 allocations to support bus9ess         
ent]prises own$ & controll$ by socially 
& economically disadvantag$ individuals 
,( ! am\nts appropriat$ to c>ry out !   
,program1 ! ,secret>y %all set aside    

#a1jjj1jjj1jjj = an inc5tive program "u 
:i* ! ,secret>y %all increase ! second  
#a_/c & la/ #a_/c allocations = ,/ates t
 demon/rate robu/ support1 z det]m9$ by 
! ,secret>y1 = bus9ess conc]ns own$ &   
controll$ by socially & economically    
disadvantag$ individuals 9 ! deploym5t (
 prior allocation am\nts4  4  7c7 ,,cdfi
 & ,,mdi p>ticipation plan ,section     
#cjjd ( ! ,/ate ,small ,bus9ess ,cr$it  
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egjc7 is am5d$ by add+ at ! end !      
foll[+3  7e7 ,,cdfi & ,,mdi p>ticipation
 plan ,! ,secret>y may n approve a ,/ate
 to be a p>ticipat+ ,/ate unless ! ,/ate
 has provid$ ! ,secret>y ) a plan       
detail+ h[ m9ority depository           
in/itutions & community developm5t      
f9ancial in/itutions w be enc\rag$ to   
p>ticipate 9 ,/ate programs4  4  7d7    
,p&emic response plan ,section #cjjd ( !
 ,/ate ,small ,bus9ess ,cr$it           
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egjc71 z am5d$ by subsection 7c71 is   
fur!r am5d$ by add+ at ! end ! foll[+3  

7f7 ,p&emic response plan ,! ,secret>y  
may n approve a ,/ate to be a p>ticipat+
 ,/ate unless ! ,/ate has provid$ !     
,secret>y ) a description ( h[ ! ,/ate w
 exp$iti\sly utilize funds to support   
small bus9esses1 includ+ bus9ess        
ent]prises own$ & controll$ by socially 
& economically disadvantag$ individuals1
 9 respond+ to & recov]+ f ! economic   
effects ( ! ,,covid-#ai p&emic4  4  7e7 
,te*nical assi/ance  7#a7 ,/ate te*nical
 assi/ance plan ,section #cjjd ( ! ,/ate
 ,small ,bus9ess ,cr$it ,initiative ,act
 ( #bjaj 7#ab ,u4,s4,c4 #egjc71 z am5d$ 
by subsection 7d71 is fur!r am5d$ by    
add+ at ! end ! foll[+3  7g7 ,/ate      
te*nical assi/ance plan  7#a7 ,9 g5]al  
,! ,secret>y may n approve a ,/ate to be
 a p>ticipat+ ,/ate unless ! ,/ate has  
provid$ ! ,secret>y ) a te*nical        
assi/ance plan "u :i* ! ,/ate w use a   
portion ( ! funds receiv$ "u ! ,program 
to provide legal1 acc\nt+1 & f9ancial   
advisory s]vices to v small bus9esses & 
bus9ess ent]prises own$ & controll$ by  

socially & economically disadvantag$    
individuals apply+ =-- 7,a7 ,/ate       
programs "u ! ,program2 &  7,b7 o!r     
,/ate or ,f$]al programs t support small
 bus9esses4  7#b7 ,contract+ ,s]vices   
describ$ "u p>agraph 7#a7 may be        
contract$ ) legal1 acc\nt+1 & f9ancial  
advisory firms1 ) priority giv5 to      
bus9ess ent]prises own$ & controll$ by  
socially & economically disadvantag$    
individuals4  4  7#b7 ,fund+ ,section   
#cjji ( ! ,/ate ,small ,bus9ess ,cr$it  
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egjh7 is am5d$ by add+ at ! end !      
foll[+3  7e7 ,te*nical assi/ance ,( !   
am\nts appropriat$ to c>ry out !        
,program1 #ejj1jjj1jjj may be us$ by !  
,secret>y to-- 7#a7 provide funds to    
,/ates to c>ry out te*nical assi/ance   
plans describ$ "u section #cjjd7;g72    
7#b7 transf] am\nts to ! ,m9ority       
,bus9ess ,developm5t ,ag5cy1 s t !      
,ag5cy may use su* am\nts 9 a mann] !   
,ag5cy det]m9es appropriate1 includ+    
?r\gh contract+ ) ?ird p>ties1 to       

provide te*nical assi/ance to bus9ess   
ent]prises own$ & controll$ by socially 
& economically disadvantag$ individuals 
apply+ to-- 7,a7 ,/ate programs "u !    
,program2 &  7,b7 o!r ,/ate or ,f$]al   
programs t support small bus9esses2 &   
7#c7 contract ) legal1 acc\nt+1 &       
f9ancial advisory firms 7) priority giv5
 to bus9ess ent]prises own$ & controll$ 
by socially & economically disadvantag$ 
individuals71 to provide te*nical       
assi/ance to bus9ess ent]prises own$ &  
controll$ by socially & economically    
disadvantag$ individuals apply+ to--    
7,a7 ,/ate programs "u ! ,program2 &    
7,b7 o!r ,/ate or ,f$]al programs t     
support small bus9esses4  4  7f7        
,multi-,/ate p>ticipation program       
,section #cjji ( ! ,/ate ,small ,bus9ess
 ,cr$it ,initiative ,act ( #bjaj 7#ab   
,u4,s4,c4 #egjh71 z am5d$ by subsection 
7d77#b71 is fur!r am5d$ by add+ at ! end
 ! foll[+3  7f7 ,multi-,/ate            
p>ticipation program ,! ,secret>y may   
e/abli% a multi-,/ate p>ticipation      

program "u :i*-- 7#a7 ! ,secret>y       
det]m9es :i* ,/ate programs are simil>  
to ea* o!r1 ) respect to eligibility    
crit]ia & su* o!r crit]ia z ! ,secret>y 
det]m9es appropriate2 &  7#b7 a ,/ate   
may elect to automatically deem a p]son 
eligible = a ,/ate program if ! p]son is
 already p>ticipat+ 9 ano!r ,/ate's     
,/ate program t ! ,secret>y has det]m9$ 
is simil> "u p>agraph 7#a74  4  7g7     
,application ( ! ,milit>y ,l5d+ ,act    
,section #cjjd ( ! ,/ate ,small ,bus9ess
 ,cr$it ,initiative ,act ( #bjaj 7#ae   
,u4,s4,c4 #egjb71 z am5d$ by subsection 
7d77#a71 is fur!r am5d$ by add+ at ! end
 ! foll[+3  7h7 ,application ( !        
,milit>y ,l5d+ ,act ,! ,secret>y may n  
approve a ,/ate to be a p>ticipat+ ,/ate
 unless ! ,/ate has agre$ t no l5d+     
activity support$ by am\nts receiv$ by !
 ,/ate "u ! ,program w\ld result 9      
int]e/ rates be+ *>g$ at an annualiz$   
p]c5tage rate above #cf p]c5t1 z det]m9$
 9 accordance ) section #ihg7;b7 ( title
 #aj1 ,unit$ ,/ates ,code 7commonly kn[n

 z ! ,milit>y ,l5d+ ,act74  4  7h7      
,inclusion ( ,tribal gov]nm5ts ,section 
#cjjb7aj7 ( ! ,/ate ,small ,bus9ess     
,cr$it ,initiative ,act ( #bjaj 7#ab    
,u4,s4,c4 #egja7aj77 is am5d$-- 7#a7 9  
subp>agraph 7,c71 by /rik+ & at ! end2  
7#b7 9 subp>agraph 7,d71 by /rik+ !     
p]iod at ! end & ins]t+ 2 &2 &  7#c7 by 
add+ at ! end ! foll[+3  7,e7 a ,tribal 
gov]nm5t4  4  7i7 ,def9itions ,section  
#cjjb ( ! ,/ate ,small ,bus9ess ,cr$it  
,initiative ,act ( #bjaj 7#ab ,u4,s4,c4 
#egja7 is am5d$ by add+ at ! end !      
foll[+3  7#ae7 ,bus9ess ent]prise own$ &
 controll$ by socially & economically   
disadvantag$ individuals ,! t]m bus9ess 
ent]prise own$ & controll$ by socially &
 economically disadvantag$ individuals  
means a bus9ess t-- 7,a7 if privately   
own$1 #ea p]c5t is own$ by "o or m      
socially & economically disadvantag$    
individuals2  7,b7 if publicly own$1 #ea
 p]c5t ( ! /ock is own$ by "o or m      
socially & economically disadvantag$    
individuals2 &  7,c7 9 ! case ( a mutual

 in/itution1 a majority ( ! ,bo>d (     
,directors1 acc\nt hold]s1 & ! community
 :i* ! in/itution s]vices is pr$om9antly
 compris$ ( socially & economically     
disadvantag$ individuals4  7#af7        
,community developm5t f9ancial          
in/itution ,! t]m community developm5t  
f9ancial in/itution has ! mean+ giv5 t  
t]m "u section #ajc ( ! ,riegle         
,community ,developm5t & ,regulatory    
,improvem5t ,act ( #aiid4  7#ag7        
,m9ority depository in/itution ,! t]m   
m9ority depository in/itution has !     
mean+ giv5 t t]m "u section #cjh7;b7 ( !
 ,f9ancial ,in/itutions ,re=m1 ,recov]y1
 & ,en=cem5t ,act ( #aihi4  7#ah7       
,socially & economically disadvantag$   
individual ,! t]m socially &            
economically disadvantag$ individual    
means an individual :o is a socially    
disadvantag$ individual or an           
economically disadvantag$ individual1 z 
su* t]ms are def9$1 respectively1 "u    
section #h ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcg7 & ! regulations        

!reund]4  7#ai7 ,tribal gov]nm5t ,! t]m 
,tribal gov]nm5t means a gov]nm5t ( an  
,indian ,tribe li/$ on ! li/ ( recogniz$
 ,tribes publi%$ by ! ,secret>y ( !     
,int]ior "u section #ajd ( ! ,f$]ally   
,recogniz$ ,indian ,tribe ,li/ ,act (   
#aiid 7#be ,u4,s4,c4 #eaca74  4  7j7    
,rule ( application ,! am5dm5ts made by 
?is section %all apply ) respect to     
funds appropriat$ "u ?is section & funds
 appropriat$ on & aft] ! date ( enactm5t
 ( ?is section4