[Congressional Record Volume 166, Number 139 (Wednesday, August 5, 2020)]
[Senate]
[Pages S4958-S4959]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 2588. Mr. WICKER submitted an amendment intended to be proposed by
him to the bill S. 178, to condemn gross human rights violations of
ethnic Turkic Muslims in Xinjiang, and calling for an end to arbitrary
detention, torture, and harassment of these communities inside and
outside China; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. RESTAURANT REVITALIZATION FUND.
(a) Short Title.--This section may be cited as the ``Real
Economic Support That Acknowledges Unique Restaurant
Assistance Needed To Survive Act of 2020'' or the
``RESTAURANTS Act of 2020''.
(b) Definitions.--In this section:
(1) Affiliated business.--The term ``affiliated business''
means a business in which an eligible entity has an equity or
right to profit distributions of not less than 50 percent, or
in which an eligible entity has the contractual authority to
control the direction of the business, provided that such
affiliation shall be determined as of any arrangements or
agreements in existence as of March 13, 2020.
(2) Covered period.--The term ``covered period'' means the
period beginning on February 15, 2020 and ending on December
31, 2020.
(3) Eligible entity.--The term ``eligible entity''--
(A) means a restaurant, food stand, food truck, food cart,
caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting
room, taproom, licensed facility or premise of a beverage
alcohol producer where the public may taste, sample, or
purchase products, or other similar place of business in
which the public or patrons assemble for the primary purpose
of being served food or drink;
(B) includes an entity described in subparagraph (A) that
is located in an airport terminal; and
(C) does not include an entity described in subparagraph
(A) that--
(i) is part of a State or local government facility; or
(ii) as of March 13, 2020, owns or operates (together with
any affiliated business) more than 20 locations, regardless
of whether those locations do business under the same or
multiple names.
(4) Fund.--The term ``Fund'' means the Restaurant
Revitalization Fund established under subsection (c).
(5) Payroll costs.--The term ``payroll costs'' has the
meaning given the term in section 7(a)(36)(A) of the Small
Business Act (15 U.S.C. 636(a)(36)(A)).
(6) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(c) Restaurant Revitalization Fund.--
(1) In general.--There is established in the Treasury of
the United States a fund to be known as the Restaurant
Revitalization Fund.
(2) Appropriations.--
(A) In general.--There is appropriated to the Fund, out of
amounts in the Treasury not otherwise appropriated,
$120,000,000,000, to remain available until December 31,
2020.
(B) Remainder to treasury.--Any amounts remaining in the
Fund after December 31, 2020 shall be deposited in the
general fund of the Treasury.
(3) Use of funds.--The Secretary shall use amounts in the
Fund to make grants described in subsection (d).
(d) Restaurant Revitalization Grants.--
(1) In general.--The Secretary shall award grants to
eligible entities in the order in which applications are
received by the Secretary.
(2) Registration.--The Secretary shall register each grant
awarded under this subsection using the employer
identification number of the eligible entity.
(3) Application.--
(A) In general.--An eligible entity desiring a grant under
this subsection shall submit to the Secretary an application
at such time, in such manner, and containing such information
as the Secretary may require.
(B) Certification.--An eligible entity applying for a grant
under this subsection shall make a good faith certification--
(i) that the uncertainty of current economic conditions
makes necessary the grant request to support the ongoing
operations of the eligible entity;
(ii) acknowledging that funds will be used to retain
workers and maintain payroll or for other allowable expenses
described in paragraph (5);
(iii) that the eligible entity does not have an application
pending for a grant under subsection (a)(36) or (b)(2) of
section 7 of the Small Business Act (15 U.S.C. 636) for the
same purpose and duplicative of amounts applied for or
received under this subsection; and
(iv) that, during the covered period, the eligible entity
has not received amounts under subsection (a)(36) or (b)(2)
of section 7 of the Small Business Act (15 U.S.C. 636) for
the same purpose and duplicative of amounts applied for or
received under this subsection.
(C) Hold harmless.--An eligible entity applying for a grant
under this subsection shall not be ineligible for a grant if
the eligible entity is able to document--
(i) an inability to rehire individuals who were employees
of the eligible entity on February 15, 2020; and
(ii) an inability to hire similarly qualified employees for
unfilled positions on or before December 31, 2020.
(4) Priority in awarding grants.--During the initial 14-day
period in which the Secretary awards grants under this
subsection, the Secretary shall--
(A) prioritize awarding grants to marginalized and
underrepresented communities, with a focus on women, veteran,
and minority-owned and operated eligible entities; and
(B) only award grants to eligible entities with annual
revenues of less than $1,500,000.
(5) Grant amount.--
(A) Aggregate maximum amount.--The aggregate amount of
grants made to an eligible entity and any affiliate
businesses of the eligible entity under this subsection shall
not exceed $10,000,000.
(B) Determination of grant amount.--
(i) In general.--The amount of a grant made to an eligible
entity under this subsection shall be equal to the difference
between--
(I) the sum of the revenues or estimated revenues of the
eligible entity during each calendar quarter in 2020; and
(II) the sum of such revenues during the same calendar
quarter in 2019, if such sum is greater than zero.
(ii) Verification.--An eligible entity shall submit to the
Secretary such revenue verification documentation as the
Secretary may require to determine the amount of a grant
under clause (i).
(iii) Repayment.--Any amount of a grant made under this
subsection to an eligible entity based on estimated revenues
in a calendar quarter in 2020 that is above the actual
revenues of the eligible entity during that calendar quarter
shall be converted to a loan that has--
(I) an interest rate of 1 percent; and
(II) a maturity date of 10 years beginning on January 1,
2021.
(C) No duplication of benefits.--An eligible entity that
received a loan under section 7(a)(36) of the Small Business
Act (15 U.S.C. 636(a)(36)) may not apply for or use grant
amounts under this subsection for the same expenses for which
the eligible entity received the loan.
(D) Limitation.--An eligible entity may not receive more
than 1 grant under this subsection.
(6) Use of funds.--
(A) In general.--During the covered period, an eligible
entity that receives a grant under this subsection may use
the grant funds for the following expenses incurred as a
direct result of the COVID-19 pandemic:
(i) Payroll costs.
[[Page S4959]]
(ii) Payments of principal or interest on any mortgage
obligation.
(iii) Rent payments, including rent under a lease
agreement.
(iv) Utilities.
(v) Maintenance expenses, including--
(I) construction to accommodate outdoor seating; and
(II) walls, floors, deck surfaces, furniture, fixtures, and
equipment.
(vi) Supplies, including protective equipment and cleaning
materials, as required by applicable public health
departments.
(vii) Food and beverage expenses that are within the scope
of the normal business practice of the eligible entity before
the covered period.
(viii) Debt obligations to suppliers that were incurred
before the covered period.
(ix) Operational expenses.
(x) Any other expenses that the Secretary determines to be
essential to maintaining the eligible entity.
(B) Returning funds.--If an eligible entity that receives a
grant under this subsection permanently ceases operations on
or before December 31, 2020, the eligible entity shall return
to the Treasury any funds that the eligible entity did not
use for the allowable expenses under subparagraph (A).
(C) Conversion to loan.--Any grant amounts received by an
eligible entity under this subsection that are unused after
December 31, 2020 shall be immediately converted to a loan
with--
(i) an interest rate of 1 percent; and
(ii) a maturity date of 10 years.
(7) Taxability.--For purposes of the Internal Revenue Code
of 1986--
(A) the amount of a grant awarded to an eligible entity
under this subsection shall be excluded from the gross income
of the eligible entity;
(B) no deduction shall be denied or reduced, no tax
attribute shall be reduced, and no basis increase shall be
denied, by reason of the exclusion from gross income provided
by subparagraph (A); and
(C) an eligible entity that receives a grant under this
subsection shall not be eligible for the credit described in
section 2301 of the CARES Act (Public Law 116-136).
(8) Regulations.--Not later than 15 days after the date of
enactment of this Act, the Secretary shall issue regulations
to carry out this subsection without regard to the notice and
comment requirements under section 553 of title 5, United
States Code.
(9) Appropriations for staffing and administrative
expenses.--
(A) In general.--There is appropriated to the Secretary,
out of amounts in the Treasury not otherwise appropriated,
$200,000,000, to remain available until December 31, 2020,
for staffing and administrative expenses related to
administering grants awarded under this subsection.
(B) Set aside.--Of amounts appropriated under subparagraph
(A), $60,000,000 shall be allocated for outreach to
traditionally marginalized and underrepresented communities,
with a focus on women, veteran, and minority-owned and
operated eligible entities, including the creation of a
resource center targeted toward these communities.
(e) Emergency Designation.--
(1) In general.--The amounts provided by this section are
designated as an emergency requirement pursuant to section
4(g) of the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C.
933(g)).
(2) Designation in senate.--In the Senate, this section is
designated as an emergency requirement pursuant to section
4112(a) of H. Con. Res. 71 (115th Congress), the concurrent
resolution on the budget for fiscal year 2018.
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