,,ii ,calendar ,no4 #chg #aagth         
,,congress  #b;d ,session  ,h4 ,r4 #chjg
  ,,in ,,the ,,senate ,,of ,,the        
,,united ,,states  ,april #g1           
#bjbb,received  ,may #bd1 #bjbb ,read   
the first time  ,may #be1 #bjbb,read the
 second time and placed on the calendar 
,,an ,,act  ,to amend the ,american     
,rescue ,plan ,act of #bjba to increase 
appropriations to the ,restaurant       
,revitalization ,fund1 and for other    
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,relief for         
,restaurants and other ,hard ,hit ,small
 ,businesses ,act of #bjbb4  #b4        
,restaurant ,revitalization ,grants  7a7
 ,appropriation ,section #ejjc7;b77#b7  
of the ,american ,rescue ,plan ,act of  
#bjba 7#ae ,u4,s4,c4 #ijji;c7b77#b77 is 
amended-- 7#a7 in subparagraph 7,a7--   
7,a7 by striking #bh1fjj1jjj1jjj and    
inserting #gj1fjj1jjj1jjj2 and  7,b7 by 
inserting 1 of which not more than      
#dbj1jjj1jjj shall be for administrative
 expenses to carry out this section1 and

 of which #g1ejj1jjj shall be for the   
,inspector ,general of the ,small       
,business ,administration1 #g1ejj1jjj   
for the ,department of ,justice for     
investigative and prosecutorial         
activities related to fraud and abuse1  
and #g1ejj1jjj for ,pandemic ,response  
,accountability ,committee1 for audits  
of grants under this section to         
investigate fraud and to identify       
improper payments and ineligible        
recipients1 and for other necessary     
expenses before the period at the end2  
and  7#b7 in subparagraph 7,b77i77,,ii71
 by striking #bc1fjj1jjj1jjj and        
inserting any remaining amounts not used
 for a purpose authorized under         
subparagraph 7,a7 or clause 7i7 of this 
subparagraph4  7b7 ,insufficient funding
 ,section #ejjc of the ,american ,rescue
 ,plan ,act of #bjba 7#ae ,u4,s4,c4     
#ijji;c7 is amended by adding at the end
 the following3  7d7 ,insufficient      
funding  7#a7 ,in general ,if the       
,administrator determines that the      

amounts made available to carry out this
 section are insufficient to make grants
 in the amount provided in subsection   
7c77#d7 to each eligible entity that has
 submitted an application in accordance 
with the program guidelines in effect on
 the day before the date of enactment of
 this subsection1 but has not received  
an award as of such date1 the           
,administrator shall make grants with   
the available amounts to each such      
eligible applicant-- 7,a7 such that the 
amount of the grant that each such      
eligible entity would have otherwise    
received under this section is reduced  
by an equal percentage2  7,b7 by        
establishing a maximum amount for a     
grant made under this subsection to     
ensure that smaller eligible entities   
still receive grants in the amounts     
provided under subsection 7c77#d72 or   
7,c7 by providing full awards in the    
amounts provided under subsection       
7c77#d7 below a certain threshold 7as   
the ,administrator may establish7 and   

reducing grants above that threshold by 
an equal percentage4  7#b7 ,reserving   
funds ,nothing in paragraph 7#a7 shall  
prevent the ,administrator from-- 7,a7  
reserving funding for applicants that   
may be determined to be eligible for a  
grant under this section upon           
reconsideration2 or  7,b7 making partial
 awards to eligible entities on a       
preliminary basis until the amount of   
funding required to fund grants to all  
eligible applicants is established1 upon
 the completion of the reconsideration  
process4  4  7c7 ,reports2              
reconsideration2 verification of        
business type ,section #ejjc of the     
,american ,rescue ,plan ,act of #bjba   
7#ae ,u4,s4,c4 #ijji;c71 as amended by  
subsection 7b71 is further amended by   
adding at the end the following3  7e7   
,reports ,the ,administrator shall--    
7#a7 on a biweekly basis until the      
amounts made available to carry out this
 section are fully expended1 publish    
data that shows1 for the period         

beginning on the date on which the      
,administrator began making grants under
 this section and ending on the date on 
which the information is published--    
7,a7 with respect to applications for   
grants under this section1 the number of
 those applications-- 7i7 that the      
,administrator has received2  7ii7 that 
the ,administrator has reviewed or is in
 the process of reviewing2 and  7iii7   
with respect to which the ,administrator
 has made a decision2 and  7,b7 the     
number and dollar amount of grants under
 this section-- 7i7 that have been      
awarded2 and  7ii7 that have been       
disbursed2  7#b7 on a weekly basis until
 the amounts made available to carry out
 this section are fully expended1       
publish1 with respect to the period     
beginning on the date of enactment of   
this subsection and ending on the date  
on which the information is published-- 
7,a7 with respect to each eligible      
entity to which a grant is made under   
this section-- 7i7 the name of the      

eligible entity1 including the name or  
names under which the eligible entity   
does business if that name is different 
from the name of the eligible entity2   
and  7ii7 the address of-- 7,i7 the     
eligible entity2 and  7,,ii7 the        
physical location or locations for the  
eligible entity listed on the           
application1 if different from the      
address of the eligible entity2  7,b7   
the amount of each grant described in   
subparagraph 7,a72 and  7,c7 the        
business category listed in subsection  
7a77#d77;,a7 to which the eligible      
entity belongs4  7f7 ,reconsideration   
7#a7 ,explanation for denial ,with      
respect to an applicant that applies for
 a grant under this section and is      
denied by the ,administrator1 the       
,administrator shall make available to  
the applicant a brief explanation       
identifying the reason why the          
,administrator denied the application of
 the applicant1 which shall include1    
where applicable1 a citation to the     

statutory1 regulatory1 or guidance      
provision with which the applicant      
failed to comply and that was the basis 
for the denial4  7#b7 ,process ,the     
,administrator shall establish a        
reconsideration process through which   
the applicant may-- 7,a7 submit to the  
,administrator additional information   
the applicant determines to be relevant 
to whether the applicant is eligible for
 the grant2 and  7,b7 receive a review  
of the application and such additional  
information submitted under subparagraph
 7,a74  7g7 ,verification of business   
type ,if the ,administrator verifies    
that an applicant for a loan under      
section #g7;a77#cf7 of the ,small       
,business ,act is not an eligible       
business type for a grant under this    
section using credible information other
 than information obtained from the     
application of the applicant for such   
loan during #bjbj1 the ,administrator   
may reject the application solely on    
those grounds4  4  7d7 ,requirement of  

continuing operation ,for any           
application for a grant under section   
#ejjc of the ,american ,rescue ,plan    
,act of #bjba 7#ae ,u4,s4,c4 #ijji;c7   
that is pending on the date of enactment
 of this ,act or for which the applicant
 has received an award notice but the   
,administrator has not disbursed amounts
 under the grant1 the ,administrator may
 not disburse amounts under the grant   
unless the applicant submits a statement
 to the ,administrator indicating the   
applicant is still operating1 or intends
 to reopen within #f months after the   
date of the statement is submitted1 the 
place of business for which such        
applicant is seeking such grant4  7e7   
,oversight and audits ,section #ejjc of 
the ,american ,rescue ,plan ,act of     
#bjba 7#ae ,u4,s4,c4 #ijji;c71 as       
amended by subsection 7c71 is further   
amended by adding at the end the        
following3  7h7 ,oversight and audits   
7#a7 ,in general ,the ,administrator    
shall institute an oversight and audit  

plan with respect to eligible entities  
receiving grants under this section1    
which shall include-- 7,a7 documentation
 requirements that are consistent with  
the eligibility and other requirements  
under this section1 including by        
requiring an eligible entity that       
receives a grant under this section to  
retain records that demonstrate         
compliance with those requirements2 and 
7,b7 reviews of the use of grants made  
under this section by eligible entities4
  7#b7 ,submission of plan ,not later   
than #cj days after the date of         
enactment of this subsection1 the       
,administrator shall submit to the      
,committee on ,small ,business and      
,entrepreneurship of the ,senate and the
 ,committee on ,small ,business of the  
,house of ,representatives the plan     
required under paragraph 7#a71 which    
shall describe-- 7,a7 the policies and  
procedures of the ,administrator for    
conducting oversight and audits of      
grants made under this section2 and     

7,b7 the metrics that the ,administrator
 will use to determine which grants made
 under this section will be audited     
under that plan4  7#c7 ,reports ,not    
later than #fj days after the date of   
enactment of this subsection1 and once  
every #cj days thereafter until the date
 that is #ahj days after the date on    
which all amounts made available to     
carry out this section have been fully  
expended1 and upon request thereafter1  
the ,administrator shall submit to the  
,committee on ,small ,business and      
,entrepreneurship of the ,senate and the
 ,committee on ,small ,business of the  
,house of ,representatives a report on  
the oversight and audit activities of   
the ,administrator under this           
subsection1 which shall include-- 7,a7  
the total number of grants approved and 
disbursed under this section2  7,b7 the 
total amount of each grant received by  
each eligible entity2  7,c7 the number  
of active investigations and audits of  
grants made under this section2  7,d7   

the number of completed reviews and     
audits of grants made under this        
section1 including a description of--   
7i7 any findings of fraud or other      
material noncompliance with the         
requirements of this section2 and  7ii7 
the total amount recouped from          
ineligible recipients2 and  7,e7 a      
description of any substantial changes  
made to the plan required under         
paragraph 7#a74  7#d7 ,retroactive      
application ,this subsection shall apply
 to grants and decisions made under this
 section before1 on1 or after the date  
of enactment of this subsection4  4  #c4
 ,hard ,hit ,industries ,award ,program 
7a7 ,definitions ,in this section3 7#a7 
,administrator ,the term ,administrator 
means the ,administrator of the ,small  
,business ,administration4  7#b7        
,affiliated business ,the term          
affiliated business means a business in 
which an eligible entity-- 7,a7 has an  
equity or right to receive not less than
 #ej percent of the profit distributions

 of such business2 or  7,b7 has1 on or  
before ,march #ac1 #bjbj1 contractual   
authority to control the business4  7#c7
 ,award ,the term award means a         
financial assistance payment that an    
eligible applicant receives directly    
from the ,small ,business               
,administration4  7#d7 ,covered period  
,the term covered period means the      
period beginning on ,february #ae1      
#bjbj1 and ending on the later of-- 7,a7
 ,march #ca1 #bjbc2 or  7,b7 a date to  
be determined by the ,administrator that
 is not later than #b years after the   
date of enactment of this section4  7#e7
 ,eligible entity ,the term eligible    
entity-- 7,a7 means a small business    
concern that-- 7i7 employs not more than
 #bjj employees2 and  7ii7 suffered a   
pandemic-related revenue loss of #dj    
percent or greater2 and  7,b7 does not  
include a small business concern that-- 
7i7 is a ,state or local                
government-operated business2  7ii7 has 
received a grant under-- 7,i7 section   

#cbd of the ,economic ,aid to ,hard ,hit
 ,small ,businesses1 ,nonprofits1 and   
,venues ,act 7#ae ,u4,s4,c4 #ijji;a72 or
  7,,ii7 section #ejjc of the ,american 
,rescue ,plan ,act of #bjba 7,public    
,law #aag-b72  7iii7 is a               
publicly-traded company2  7iv7 is an    
entity that is owned or operated by a   
private equity fund2 or  7v7 has a wage 
violation at the time of application4   
7#f7 ,eligible self-employed individual 
,the term eligible self-employed        
individual has the meaning given in     
section #gjjb7;b7 of the ,families      
,first ,coronavirus ,response ,act 7#bf 
,u4,s4,c4 #adja note74  7#g7 ,exchange2 
issuer2 security ,the terms exchange1   
issuer1 and security have the meanings  
given those terms1 respectively1 in     
section #c7;a7 of the ,securities       
,exchange ,act of #aicd 7#ae ,u4,s4,c4  
#gh;c7a774  7#h7 ,pandemic-related      
revenue loss  7,a7 ,in general ,the term
 pandemic-related revenue loss means1   
subject to subparagraph 7,b7 and with   

respect to an eligible entity-- 7i7     
except as provided in clauses 7ii7 and  
7iii71 the average annual gross receipts
 during #bjbj and #bjba1 as established 
using such verification documentation as
 the ,administrator may require1 of the 
eligible entity subtracted from the     
gross receipts of the eligible entity in
 #bjai1 if such sum is greater than     
zero2  7ii7 if the eligible entity was  
not in operation for the entirety of    
#bjai-- 7,i7 the difference between--   
7aa7 the product obtained by multiplying
 the average monthly gross receipts of  
the eligible entity in #bjai by #ab2 and
  7bb7 the product obtained by          
multiplying the average monthly gross   
receipts of the eligible entity in #bjbj
 and #bjba by #ab2 or  7,,ii7 an amount 
based on a formula determined by the    
,administrator2 or  7iii7 if the        
eligible entity began operations during 
the period beginning on ,january #a1    
#bjbj1 and ending on the day before the 
date of enactment of this section1 an   

amount based on a formula determined by 
the ,administrator4  7,b7 ,reduction    
,for purposes of this paragraph1 the    
pandemic-related revenue losses for an  
eligible entity calculated under        
subparagraph 7,a7 shall be reduced by   
the sum of-- 7i7 any amount received    
from a covered loan made under paragraph
 7#cf7 or 7#cg7 of section #g7;a7 of the
 ,small ,business ,act 7#ae ,u4,s4,c4   
#fcf7;a77 in #bjbj or #bjba2  7ii7 any  
amount received as a grant under section
 #aaaj of the ,coronavirus ,aid1        
,relief1 and ,economic ,security ,act   
7#ae ,u4,s4,c4 #ijji72 and  7iii7 any   
amount received as a grant under section
 #cca of the ,economic ,aid to          
,hard-,hit ,small ,businesses1          
,nonprofits1 and ,venues ,act 7#ae      
,u4,s4,c4 #ijji;b74  7,c7 ,percentage   
determination ,for the purposes of      
determining the percentage of           
pandemic-related revenue loss under this
 subsection1 the percentage shall be    
equal to-- 7i7 in the case of an        

eligible entity for which subparagraph  
7,a77i7 applies1 the product obtained by
 multiplying-- 7,i7 the quotient        
obtained by dividing the                
pandemic-related revenue losses for such
 eligible entity by the gross receipts  
of the eligible entity in #bjai2 and    
7,,ii7 #ajj2  7ii7 in the case of an    
eligible entity for which subparagraph  
7,a77ii77,i7 applies1 the product       
obtained by multiplying-- 7,i7 the      
quotient obtained by dividing the       
pandemic-related revenue losses for such
 eligible entity by the product obtained
 by multiplying the average monthly     
gross receipts of the eligible entity in
 #bjai by #ab2 and  7,,ii7 #ajj2 and    
7iii7 in the case of an eligible entity 
for which clauses 7ii77,,ii7 or 7iii7   
applies1 an amount based on a formula   
determined by the ,administrator4  7#i7 
,payroll costs ,the term payroll costs  
has the meaning given the term in       
section #g7;a77#cf77;,a7 of the ,small  
,business ,act 7#ae ,u4,s4,c4           

#fcf7;a77#cf77;,a771 except that such   
term shall not include-- 7,a7 qualified 
wages1 as defined in section #bcja7;c7  
of the ,,cares ,act 7#bf ,u4,s4,c4 #caaa
 note71 taken into account in           
determining the credit allowed under    
such section #bcja2 or  7,b7 premiums   
taken into account in determining the   
credit allowed under section #fdcb of   
the ,internal ,revenue ,code of #aihf4  
7#aj7 ,private equity fund ,the term    
private equity fund has the meaning     
given the term in section #bbe4agc7;a7  
of title #ab1 ,code of ,federal         
,regulations1 or any successor          
regulation4  7#aa7 ,publicly-traded     
company ,the term publicly-traded       
company means an entity that is majority
 owned or controlled by an entity that  
is an issuer1 the securities of which   
are listed on a national securities     
exchange under section #f of the        
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;f74  7#ab7 ,small        
business concern ,the term small        

business concern has the meaning given  
under section #c of the ,small ,business
 ,act 7#ae ,u4,s4,c4 #fcb7 and          
includes-- 7,a7 individuals who operate 
under a sole proprietorship1 as an      
independent contractor1 or as an        
eligible self-employed individual2 and  
7,b7 small business concerns described  
in subparagraphs 7,b71 7,c71 and 7,d7 of
 section #ca7;b77#b7 of the ,small      
,business ,act 7#ae ,u4,s4,c4           
#feg;a7b77#b774  7#ac7 ,small ,business 
,act definitions ,the terms covered     
mortgage obligation1 covered operations 
expenditure1 covered rent obligation1   
covered supplier cost1 covered utility  
payment1 and covered worker protection  
expenditure have the meanings given1    
respectively1 in section #g;,a of the   
,small ,business ,act 7#ae ,u4,s4,c4    
#fcfm74  7b7 ,awards to eligible        
entities  7#a7 ,in general ,from amounts
 made available under this ,act1 the    
,administrator shall establish a program
 to be known as the ,hard ,hit          

,industries ,award ,program1 under which
 the ,administrator shall make awards to
 eligible entities that submit an       
application under paragraph 7#b74  7#b7 
,application  7,a7 ,certification ,an   
eligible entity shall submit to the     
,administrator an application for an    
award under this subsection4 ,in such   
application1 the eligible entity shall  
make a good faith certification that--  
7i7 the uncertainty of current economic 
conditions makes necessary the award    
request to support the ongoing          
operations of the eligible entity2 and  
7ii7 the eligible entity has no pending 
application for and has not received a  
grant under-- 7,i7 section #cbd of the  
,economic ,aid to ,hard-,hit ,small     
,businesses1 ,nonprofits1 and ,venues   
,act 7#ae ,u4,s4,c4 #ijji;a72 or  7,,ii7
 section #ejjc of the ,american ,rescue 
,plan ,act of #bjba 7#ae ,u4,s4,c4      
#ijji;c74  7,b7 ,verification ,the      
,administrator shall use tax records or 
other reliable sources1 such as         

certified accounting statements1 with   
respect to an applicant for an award    
under this section to determine-- 7i7   
the eligibility of the applicant for    
that award2 and  7ii7 the amount of that
 award to the applicant4  7,c7          
,acceptance of applications ,not later  
than #abj days after the date of the    
enactment of this ,act1 the             
,administrator shall begin accepting    
applications for an award under this    
subsection4  7,d7 ,priority  7i7 ,in    
general ,the ,administrator shall       
prioritize eligible entities that have  
experienced significant pandemic-related
 revenue loss to receive an award under 
this section as follows3 7,i7 ,first    
priority to eligible entities that      
experienced a pandemic-related revenue  
loss of at least #hj percent4  7,,ii7   
,second priority to eligible entities   
that experienced a pandemic-related     
revenue loss of at least #fj percent4   
7ii7 ,smaller entities ,within each     
category of eligible entities described 

in subclauses 7,i7 through 7,,iii7 of   
clause 7i71 the ,administrator may      
prioritize awards to eligible entities  
with #ej employees or fewer4  7iii7     
,additional priority ,within each       
category of eligible entities described 
in subclauses 7,i7 through 7,,iii7 of   
clause 7i71 the ,administrator may      
prioritize awards to eligible entities  
that did not receive a covered loan made
 under paragraph 7#cf7 or 7#cg7 of      
section #g7;a7 of the ,small ,business  
,act 7#ae ,u4,s4,c4 #fcf7;a77 in #bjbj  
or #bjba4  7#c7 ,award amount  7,a7     
,aggregate maximum amount ,the aggregate
 maximum amount of awards made to an    
eligible entity and any affiliated      
businesses of the eligible entity under 
this subsection may not exceed          
#a1jjj1jjj4  7,b7 ,determination of     
award amount  7i7 ,in general ,except as
 provided in this paragraph1 the amount 
of an award made to an eligible entity  
under this subsection shall be equal to 
the pandemic-related revenue loss of the

 eligible entity4  7ii7 ,return to      
,treasury ,any amount of an award made  
under this subsection to an eligible    
entity described in clause 7ii7 or 7iii7
 of subsection 7a77#h77;,a7 that is     
greater than the average annual gross   
receipts of the eligible entity in #bjbj
 and #bjba shall be returned to the     
,treasury4  7,c7 ,insufficient funding  
,after selecting award recipients in    
accordance with paragraph 7#b77;,d7 and 
before disbursing any awards under this 
section1 if the ,administrator          
determines that the amounts made        
available under this ,act for making    
awards under this section are           
insufficient to make awards to each     
eligible entity that submits an         
application under paragraph 7#b7 in the 
amount described under subparagraphs    
7,a7 and 7,b71 the ,administrator may   
make awards with the available amounts  
such that the amount of the award that  
each eligible entity would have         
otherwise received under those          

subparagraphs and in accordance with    
paragraph 7#b77;,d7 is reduced by a     
percentage1 except that the             
,administrator may establish an         
aggregate maximum amount for awards made
 under this subparagraph and in         
accordance with paragraph 7#b77;,d7 to  
ensure that smaller eligible entities   
receive awards in the amounts provided  
under those subparagraphs4  7#d7 ,use of
 funds ,during the covered period1 an   
eligible entity that receives an award  
under this subsection may use the award 
for the following expenses incurred as a
 direct result of1 or during1 the       
,,covid-#ai pandemic3 7,a7 ,payroll     
costs4  7,b7 ,payments to independent   
contractors1 as reported on ,form       
#ajii-,,misc1 except that each such     
payment may not exceed #ajj1jjj4  7,c7  
,scheduled payments of interest or      
principal on any covered mortgage       
obligation 7which may not include any   
prepayment of principal on a covered    
mortgage obligation74  7,d7 ,payments on

 any covered rent obligation and common 
area maintenance charges under a lease  
agreement4  7,e7 ,covered utility       
payments4  7,f7 ,maintenance expenses4  
7,g7 ,covered worker protection         
expenditures4  7,h7 ,supplies1 including
 protective equipment and cleaning      
materials4  7,i7 ,expenses that were    
within the scope of the normal business 
practice of the eligible entity before  
the covered period4  7,j7 ,covered      
supplier costs4  7,k7 ,covered          
operational expenses4  7,l7 ,paid sick  
leave4  7,m7 ,capital expenditures 7or  
expenses required under any ,federal1   
,state1 or local law7 relating to       
implementing social distancing measures4
  7,n7 ,any other essential expenses of 
the eligible entity1 as determined by   
the ,administrator4  7#e7 ,returning    
funds ,if an eligible entity that       
receives an award under this section    
fails to use all of the award on or     
before the last day of the covered      
period or permanently ceases operations 

on or before the last day of the covered
 period1 the eligible entity shall      
return to the ,administrator any funds  
that the eligible entity did not use for
 the allowable expenses under paragraph 
7#d74  7c7 ,data transparency and       
customer service ,the ,administrator    
shall-- 7#a7 in carrying out this       
section1 maintain regular communication 
with applicants and representatives of  
such applicants1 including by-- 7,a7    
hosting regularly scheduled information 
sessions with those persons2 and  7,b7  
providing opportunities to those persons
 to submit and receive answers to       
questions regarding awards made under   
this section2  7#b7 on a weekly basis   
until the amounts made available under  
this section are fully expended1 publish
 data that shows1 for the period        
beginning on the date of enactment of   
this ,act and ending on the date on     
which the information is published--    
7,a7 with respect to applications for   
awards under this section1 the number of

 those applications-- 7i7 that the      
,administrator has received2  7ii7 that 
the ,administrator has reviewed or is in
 the process of reviewing2 and  7iii7   
with respect to which the ,administrator
 has made a decision2 and  7,b7 the     
number and dollar amount of payments    
awarded and disbursed under this        
section2  7#c7 on a weekly basis until  
the amounts made available to carry out 
this section are fully expended1        
publish1 for the period beginning on the
 date of enactment of this ,act and     
ending on the date on which the         
information is published-- 7,a7 the name
 and location of each eligible entity to
 which an award has been made under this
 section2 and  7,b7 the amount of such  
award2  7#d7 with respect to an         
applicant that applies for an award     
under this section and is denied by the 
,administrator-- 7,a7 make available to 
the applicant a brief explanation       
regarding the denial which shall        
include1 where applicable1 a citation to

 the statute1 regulation1 or guidance   
with which the applicant failed to      
comply and that was the basis for the   
denial2 and  7,b7 establish a           
reconsideration process through which   
the applicant may-- 7i7 submit to the   
,administrator additional information   
the applicant determines to be relevant 
to whether the applicant is eligible for
 the grant2 and  7ii7 receive a review  
of the application and such additional  
information submitted under clause 7i74 
7d7 ,tax treatment of awards  7#a7 ,in  
general ,for the purposes of the        
,internal ,revenue ,code of #aihf-- 7,a7
 no award made under this section shall 
be included in the gross income of the  
eligible entity that receives an award2 
7,b7 no deduction shall be denied1 no   
tax attribute shall be reduced1 and no  
basis increase shall be denied1 by      
reason of the exclusion from gross      
income provided by subparagraph 7,a72   
and  7,c7 in the case of a partnership  
or ,s corporation that receives an award

 under this section-- 7i7 any amount    
excluded from income by reason of       
subparagraph 7,a7 shall be treated as   
tax exempt for purposes of sections #gje
 and #acff of such ,code2 and  7ii7 the 
,secretary of the ,treasury 7or the     
,secretary's delegate7 shall prescribe  
rules for determining a partner's       
distributive share of any amount        
described in clause 7i7 for purposes of 
section #gje of such ,code4  7#b7       
,applicability ,paragraph 7#a7 shall    
apply to taxable years ending after the 
date of enactment of this ,act4  7e7    
,system for ,award ,management ,the     
,administrator may not require any      
eligible entity that applies for an     
award under this section to use the     
,system for ,award ,management 7or any  
successor system7 with respect to that  
award4  7f7 ,application processing ,the
 ,director of the ,office of ,management
 and ,budget may1 on an emergency basis 
and in order to expedite the processing 
and approval of applications for awards 

under this section1 waive the           
requirements of part #bjj of title #b1  
,code of ,federal ,regulations 7or any  
successor regulations7 with respect to  
an award made under this section1 if--  
7#a7 the ,director finds that such a    
waiver will prevent eligible entities   
from failing or suffering undue         
hardship2 and  7#b7 each eligible entity
 that receives an award under this      
section is still required to submit to  
the ,administrator ongoing reports      
regarding the use by the eligible entity
 of the award amounts4  7g7 ,oversight  
and audits  7#a7 ,in general ,in        
cooperation with the ,director of the   
,office of ,management and ,budget1 the 
,administrator shall establish an       
oversight and audit plan with respect to
 eligible entities receiving awards     
under this section1 which shall         
include-- 7,a7 documentation            
requirements that are consistent with   
the eligibility and other requirements  
under this section1 including a         

requirement that an eligible entity that
 receives an award under this section   
retains records that demonstrate        
compliance with the requirements of this
 section2 and  7,b7 reviews of the use1 
by eligible entities1 of awards made    
under this section to ensure compliance 
with the requirements of this section1  
which shall include-- 7i7 a review and  
audit by the ,administrator of awards   
made under this section2 and  7ii7 in   
the case of fraud or other material     
noncompliance with respect to an award  
made under this section-- 7,i7 a        
requirement that the applicable eligible
 entity repay to the ,administrator the 
amount of the misspent funds2 or  7,,ii7
 legal action by the ,administrator to  
collect the misspent funds4  7#b7       
,submission of plan ,not later than #cj 
days after the date of the enactment of 
this ,act1 the ,administrator shall     
submit to the ,committee on ,small      
,business and ,entrepreneurship of the  
,senate and the ,committee on ,small    

,business of the ,house of              
,representatives the plan required under
 paragraph 7#a71 which shall describe-- 
7,a7 the policies and procedures of the 
,administrator for conducting oversight 
and audits of awards made under this    
section2 and  7,b7 the metrics that the 
,administrator will use to determine    
which awards made under this section    
will be audited under that plan4  7#c7  
,reports ,not later than #fj days after 
the date of the enactment of this ,act1 
once every #cj days thereafter until the
 date that is #ahj days after the date  
on which all amounts made available to  
carry out this section have been fully  
expended1 and upon request thereafter1  
the ,administrator shall submit to the  
,committee on ,small ,business and      
,entrepreneurship of the ,senate and the
 ,committee on ,small ,business of the  
,house of ,representatives a report on  
the oversight and audit activities of   
the ,administrator under this           
subsection1 which shall include-- 7,a7  

the total number of awards approved and 
disbursed under this section2  7,b7 the 
total amount of each award received by  
each eligible entity2  7,c7 the number  
of active investigations and audits of  
awards made under this section2  7,d7   
the number of completed reviews and     
audits of awards made under this        
section1 including a description of any 
findings of fraud or other material     
noncompliance with the requirements of  
this section2 and  7,e7 a description of
 any substantial changes made to the    
plan required under paragraph 7#a74  7h7
 ,rules ,not later than #ij days after  
the date of the enactment of this ,act1 
the ,administrator shall issue rules to 
carry out this section1 without regard  
to the notice requirements under section
 #eec7;b7 of title #e1 ,united ,states  
,code4  7i7 ,authorization of           
appropriations ,in addition to amounts  
otherwise available1 there is           
appropriated for fiscal year #bjbb1 out 
of any money in the ,treasury not       

otherwise appropriated1 #ac1jjj1jjj1jjj1
 for the ,hard ,hit ,industries ,award  
,program established under this section1
 to remain available until expended1 of 
which not more than #chj1jjj1jjj shall  
be for administrative expenses to carry 
out this section1 of which-- 7#a7       
#b1ejj1jjj shall be for the ,inspector  
,general of the ,small ,business        
,administration to prevent waste1 fraud1
 and abuse with respect to funding made 
available for the ,hard ,hit ,industries
 ,award ,program2  7#b7 #b1ejj1jjj shall
 be for the ,department of ,justice for 
investigative and prosecutorial         
activities related to fraud and abuse1  
with respect to funding made available  
for the ,hard ,hit ,industries ,award   
,program2 and  7#c7 #b1ejj1jjj shall be 
for shall be for the ,pandemic ,response
 ,accountability ,committee with respect
 to funding made available for the ,hard
 ,hit ,industries ,award ,program4  #d4 
,funding for the ,restaurant            
,revitalization ,fund and the ,hard ,hit

 ,industries ,award ,program  7a7 ,in   
general ,any unobligated covered funds  
are hereby transferred to the           
,administrator of the ,small ,business  
,administration for purposes of carrying
 out section #ejjc of the ,american     
,rescue ,plan ,act of #bjba 7#ae        
,u4,s4,c4 #ijji;c7 and the ,hard ,hit   
,industries ,award ,program established 
under section #c of this ,act4  7b7     
,covered funds defined ,in this section1
 the term covered funds-- 7#a7 means any
 and all funds recovered1 seized1       
reclaimed1 or otherwise returned to the 
,federal ,government received pursuant  
to-- 7,a7 paragraph 7#cf7 or 7#cg7 of   
section #g7;a7 of the ,small ,business  
,act 7#ae ,u4,s4,c4 #fcf7;a772  7,b7    
section #g7;b77#b7 of the ,small        
,business ,act 7#ae ,u4,s4,c4 #fcf7;b771
 with respect to a loan made under such 
section in response to ,,covid-#ai      
during the covered period 7as defined in
 section #aaaj7;a7 of the ,,cares ,act  
7#ae ,u4,s4,c4 #ijji7;a7772  7,c7       

section #aaaj7;e7 of the ,,cares ,act   
7#ae ,u4,s4,c4 #ijji7;e772  7,d7 section
 #cca of the ,economic ,aid to          
,hard-,hit ,small ,businesses1          
,nonprofits1 and ,venues ,act 7#ae      
,u4,s4,c4 #ijji;b72  7,e7 section #cbd  
of the ,economic ,aid to ,hard-,hit     
,small ,businesses1 ,nonprofits1 and    
,venues ,act 7#ae ,u4,s4,c4 #ijji;a72   
7,f7 section #ejjc of the ,american     
,rescue ,plan ,act of #bjba 7#ae        
,u4,s4,c4 #ijji;c72  7,g7 section #c of 
this ,act2  7#b7 includes any funds that
 as of ,december #ca1 #bjbb1 are        
unexpended under section #ejjc of the   
,american ,rescue ,plan ,act of #bjba   
7#ae ,u4,s4,c4 #ijji;c72 and  7#c7 does 
not include funds paid by person to the 
,federal ,government for the purposes of
 tax obligations1 servicing of loans1 or
 standard payment of fees4  #e4 ,grants 
for shuttered venue operators ,section  
#cbd7;d7 of the ,economic ,aid to       
,hard-,hit ,small ,businesses1          
,nonprofits1 and ,venues ,act 7#ae      

,u4,s4,c4 #ijji;a7d77 is amended by     
striking paragraph 7#a7 and inserting   
the following3  7#a7 ,timing  7,a7      
,expenses incurred ,amounts received    
under a grant under this section may be 
used for costs incurred during the      
period beginning on ,march #a1 #bjbj1   
and ending on ,march #aa1 #bjbc 7or a   
later date1 as determined by the        
,administrator74  7,b7 ,expenditure ,an 
eligible person or entity shall return  
to the ,administrator any amounts       
received under a grant under this       
section that are not expended on or     
before ,april #ae1 #bjbc 7or a later    
date1 as determined by the              
,administrator71 with respect to costs  
incurred during the period described in 
subparagraph 7,a74  4  ,passed the      
,house of ,representatives ,april #g1   
#bjbb4;,cheryl ,l4 ,johnson1,clerk4     
,may #be1 #bjbb,read the second time and
 placed on the calendar