[Congressional Record Volume 166, Number 178 (Monday, October 19, 2020)]
[Senate]
[Pages S6296-S6301]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 2680. Mr. McCONNELL (for himself, Mr. Rubio, and Ms. Collins) 
proposed an amendment to amendment SA 2652 proposed by Mr. McConnell 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; as follows:

       On page 73, strike line 9 and all that follows through page 
     136, line 6, and insert the following:

                   TITLE IV--SMALL BUSINESS PROGRAMS

     SEC. 4001. SMALL BUSINESS RECOVERY.

       (a) Short Title.--This section may be cited as the 
     ``Continuing the Paycheck Protection Program Act''.
       (b) Definitions.--In this section:
       (1) Administration; administrator.--The terms 
     ``Administration'' and ``Administrator'' mean the Small 
     Business Administration and the Administrator thereof, 
     respectively.
       (2) Small business concern.--The term ``small business 
     concern'' has the meaning given the term in section 3 of the 
     Small Business Act (15 U.S.C. 632).
       (c) Emergency Rulemaking Authority.-- Not later than 30 
     days after the date of enactment of this Act, the 
     Administrator shall issue regulations to carry out this 
     section and the amendments made by this section without 
     regard to the notice requirements under section 553(b) of 
     title 5, United States Code.
       (d) Additional Eligible Expenses.--
       (1) Allowable use of ppp loan.--Section 7(a)(36)(F)(i) of 
     the Small Business Act (15 U.S.C. 636(a)(36)(F)(i)) is 
     amended--
       (A) in subclause (VI), by striking ``and'' at the end;
       (B) in subclause (VII), by striking the period at the end 
     and inserting a semicolon; and
       (C) by adding at the end the following:

       ``(VIII) covered operations expenditures, as defined in 
     section 1106(a) of the CARES Act (15 U.S.C. 9005(a));
       ``(IX) covered property damage costs, as defined in such 
     section 1106(a);
       ``(X) covered supplier costs, as defined in such section 
     1106(a); and
       ``(XI) covered worker protection expenditures, as defined 
     in such section 1106(a).''.

       (2) Loan forgiveness.--Section 1106 of the CARES Act (15 
     U.S.C. 9005) is amended--
       (A) in subsection (a)--
       (i) by redesignating paragraphs (6), (7), and (8) as 
     paragraphs (10), (11), and (12), respectively;
       (ii) by redesignating paragraph (5) as paragraph (8);
       (iii) by redesignating paragraph (4) as paragraph (6);
       (iv) by redesignating paragraph (3) as paragraph (4);
       (v) by inserting after paragraph (2) the following:
       ``(3) the term `covered operations expenditure' means a 
     payment for any business software or cloud computing service 
     that facilitates business operations, product or service 
     delivery, the processing, payment, or tracking of payroll 
     expenses, human resources, sales and billing functions, or 
     accounting or tracking of supplies, inventory, records and 
     expenses;'';
       (vi) by inserting after paragraph (4), as so redesignated, 
     the following:
       ``(5) the term `covered property damage cost' means a cost 
     related to property damage and vandalism or looting due to 
     public disturbances that occurred during 2020 that was not 
     covered by insurance or other compensation;'';
       (vii) by inserting after paragraph (6), as so redesignated, 
     the following:
       ``(5) the term `covered supplier cost' means an expenditure 
     made by an entity to a supplier of goods pursuant to a 
     contract, order, or purchase order in effect before October 
     1, 2020 for the supply of goods that are essential to the 
     operations of the entity at the time at which the expenditure 
     is made;'';
       (viii) by inserting after paragraph (8), as so 
     redesignated, the following:
       ``(9) the term `covered worker protection expenditure'--
       ``(A) means an operating or a capital expenditure that is 
     required to facilitate the adaptation of the business 
     activities of an entity to comply with requirements 
     established or guidance issued by the Department of Health 
     and Human Services, the Centers for Disease Control, or the 
     Occupational Safety and Health Administration during the 
     period beginning on March 1, 2020 and ending the date on 
     which the national emergency declared by the President under 
     the National Emergencies Act (50 U.S.C. 1601 et seq.) with 
     respect to the Coronavirus Disease 2019 (COVID-19) expires 
     related to the maintenance of standards for sanitation, 
     social distancing, or any other worker or customer safety 
     requirement related to COVID-19;
       ``(B) may include--
       ``(i) the purchase, maintenance, or renovation of assets 
     that create or expand--

       ``(I) a drive-through window facility;
       ``(II) an indoor, outdoor, or combined air or air pressure 
     ventilation or filtration system;
       ``(III) a physical barrier such as a sneeze guard;
       ``(IV) an indoor, outdoor, or combined commercial real 
     property;
       ``(V) an onsite or offsite health screening capability; or
       ``(VI) other assets relating to the compliance with the 
     requirements or guidance described in subparagraph (A), as 
     determined by the Administrator in consultation with the 
     Secretary of Health and Human Services and the Secretary of 
     Labor; and

       ``(ii) the purchase of--

       ``(I) covered materials described in section 328.103(a) of 
     title 44, Code of Federal Regulations, or any successor 
     regulation;
       ``(II) particulate filtering facepiece respirators approved 
     by the National Institute for Occupational Safety and Health, 
     including those approved only for emergency use 
     authorization; or
       ``(III) other kinds of personal protective equipment, as 
     determined by the Administrator in consultation with the 
     Secretary of Health and Human Services and the Secretary of 
     Labor; and

       ``(C) does not include residential real property or 
     intangible property;''; and
       (ix) in paragraph (11), as so redesignated--

       (I) in subparagraph (C), by striking ``and'' at the end;
       (II) in subparagraph (D), by striking ``and'' at the end; 
     and
       (III) by adding at the end the following:

       ``(E) covered operations expenditures;
       ``(F) covered property damage costs;
       ``(G) covered supplier costs; and
       ``(H) covered worker protection expenditures; and'';
       (B) in subsection (b), by adding at the end the following:
       ``(5) Any covered operations expenditure.
       ``(6) Any covered property damage cost.
       ``(7) Any covered supplier cost.
       ``(8) Any covered worker protection expenditure.'';

[[Page S6297]]

       (C) in subsection (d)(8), by inserting ``any payment on any 
     covered operations expenditure, any payment on any covered 
     property damage cost, any payment on any covered supplier 
     cost, any payment on any covered worker protection 
     expenditure,'' after ``rent obligation,''; and
       (D) in subsection (e)--
       (i) in paragraph (2), by inserting ``payments on covered 
     operations expenditures, payments on covered property damage 
     costs, payments on covered supplier costs, payments on 
     covered worker protection expenditures,'' after ``lease 
     obligations,''; and
       (ii) in paragraph (3)(B), by inserting ``make payments on 
     covered operations expenditures, make payments on covered 
     property damage costs, make payments on covered supplier 
     costs, make payments on covered worker protection 
     expenditures,'' after ``rent obligation,''.
       (e) Lender Safe Harbor.--Subsection (h) of section 1106 of 
     the CARES Act (15 U.S.C. 9005) is amended to read as follows:
       ``(h) Hold Harmless.--
       ``(1) In general.--A lender may rely on any certification 
     or documentation submitted by an applicant for a covered loan 
     or an eligible recipient of a covered loan that--
       ``(A) is submitted pursuant to any statutory requirement 
     relating to covered loans or any rule or guidance issued to 
     carry out any action relating to covered loans; and
       ``(B) attests that the applicant or eligible recipient, as 
     applicable, has accurately verified any certification or 
     documentation provided to the lender.
       ``(2) No enforcement action.--With respect to a lender that 
     relies on a certification or documentation described in 
     paragraph (1)--
       ``(A) an enforcement action may not be taken against the 
     lender acting in good faith relating to origination or 
     forgiveness of a covered loan based on such reliance; and
       ``(B) the lender acting in good faith shall not be subject 
     to any penalties relating to origination or forgiveness of a 
     covered loan based on such reliance.''.
       (f) Selection of Covered Period for Forgiveness.--Section 
     1106 of the CARES Act (15 U.S.C. 9005) is amended--
       (1) by amending paragraph (4) of subsection (a), as so 
     redesignated by subsection (d) of this section, to read as 
     follows:
       ``(4) the term `covered period' means the period--
       ``(A) beginning on the date of the origination of a covered 
     loan; and
       ``(B) ending on a date selected by the eligible recipient 
     of the covered loan that occurs during the period--
       ``(i) beginning on the date that is 8 weeks after such date 
     of origination; and
       ``(ii) ending on the date that is 24 weeks after such date 
     of origination;''; and
       (2) by striking subsection (l).
       (g) Simplified Application.--Section 1106 of the CARES Act 
     (15 U.S.C. 9005), as amended by subsection (f) of this 
     section, is amended--
       (1) in subsection (e), in the matter preceding paragraph 
     (1), by striking ``An eligible'' and inserting ``Except as 
     provided in subsection (l), an eligible'';
       (2) in subsection (f), by inserting ``or the information 
     required under subsection (l), as applicable'' after 
     ``subsection (e)''; and
       (3) by adding at the end the following:
       ``(l) Simplified Application.--
       ``(1) Covered loans under $150,000.--
       ``(A) In general.--Notwithstanding subsection (e), with 
     respect to a covered loan made to an eligible recipient that 
     is not more than $150,000, the covered loan amount shall be 
     forgiven under this section if the eligible recipient--
       ``(i) signs and submits to the lender a one-page online or 
     paper form, to be established by the Administrator not later 
     than 7 days after the date of enactment of the Continuing the 
     Paycheck Protection Program Act, that--

       ``(I) reports the amount of the covered loan amount spent 
     by the eligible recipient--

       ``(aa) on payroll costs; and
       ``(bb) on the sum of--
       ``(AA) payments of interest on any covered mortgage 
     obligation (which shall not include any prepayment of or 
     payment of principal on a covered mortgage obligation);
       ``(BB) payments on any covered rent obligation;
       ``(CC) covered utility payments;
       ``(DD) covered operations expenditures;
       ``(EE) covered property damage costs;
       ``(FF) covered supplier costs; and
       ``(GG) covered worker protection expenditures; and

       ``(II) attests that the eligible recipient made a good 
     faith effort to comply with the requirements under section 
     7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)); 
     and

       ``(ii) retains records relevant to the form that prove 
     compliance with those requirements--

       ``(I) with respect to employment records, for the 4-year 
     period following submission of the form; and
       ``(II) with respect to other records, for the 3-year period 
     following submission of the form.

       ``(B) Demographic information.--An eligible recipient of a 
     covered loan described in subparagraph (A) may complete and 
     submit any form related to borrower demographic information.
       ``(C) Audit.--The Administrator may--
       ``(i) review and audit covered loans described in 
     subparagraph (A); and
       ``(ii) in the case of fraud, ineligibility, or other 
     material noncompliance with applicable loan or loan 
     forgiveness requirements, modify--

       ``(I) the amount of a covered loan described in 
     subparagraph (A); or
       ``(II) the loan forgiveness amount with respect to a 
     covered loan described in subparagraph (A).

       ``(2) Covered loans between $150,000 and $2,000,000.--
       ``(A) In general.--Notwithstanding subsection (e), with 
     respect to a covered loan made to an eligible recipient that 
     is more than $150,000 and not more than $2,000,000--
       ``(i) the eligible recipient seeking loan forgiveness under 
     this section--

       ``(I) is not required to submit the supporting 
     documentation described in paragraph (1) or (2) of subsection 
     (e) or the certification described in subsection (e)(3)(A);
       ``(II) shall retain--

       ``(aa) all employment records relevant to the application 
     for loan forgiveness for the 4-year period following 
     submission of the application; and
       ``(bb) all other supporting documentation relevant to the 
     application for loan forgiveness for the 3-year period 
     following submission of the application; and

       ``(III) may complete and submit any form related to 
     borrower demographic information;

       ``(ii) review by the lender of an application submitted by 
     the eligible recipient for loan forgiveness under this 
     section shall be limited to whether the lender received a 
     complete application, with all fields completed, initialed, 
     or signed, as applicable; and
       ``(iii) the lender shall--

       ``(I) accept the application submitted by the eligible 
     recipient for loan forgiveness under this section; and
       ``(II) submit the application to the Administrator.

       ``(B) Audit.--The Administrator may--
       ``(i) review and audit covered loans described in 
     subparagraph (A); and
       ``(ii) in the case of fraud, ineligibility, or other 
     material noncompliance with applicable loan or loan 
     forgiveness requirements, modify--

       ``(I) the amount of a covered loan described in 
     subparagraph (A); or
       ``(II) the loan forgiveness amount with respect to a 
     covered loan described in subparagraph (A).

       ``(3) Audit plan.--
       ``(A) In general.--Not later than 30 days after the date of 
     enactment of the Continuing the Paycheck Protection Program 
     Act, 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 an audit 
     plan that details--
       ``(i) the policies and procedures of the Administrator for 
     conducting reviews and audits of covered loans; and
       ``(ii) the metrics that the Administrator shall use to 
     determine which covered loans will be audited for each 
     category of covered loans described in paragraphs (1) and 
     (2).
       ``(B) Reports.--Not later than 30 days after the date on 
     which the Administrator submits the audit plan required under 
     subparagraph (A), and each month thereafter, 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 
     review and audit activities of the Administrator under this 
     subsection, which shall include--
       ``(i) the number of active reviews and audits;
       ``(ii) the number of reviews and audits that have been 
     ongoing for more than 60 days; and
       ``(iii) any substantial changes made to the audit plan 
     submitted under subparagraph (A).''.
       (h) Group Insurance Payments as Payroll Costs.--Section 
     7(a)(36)(A)(viii)(I)(aa)(EE) of the Small Business Act (15 
     U.S.C. 636(a)(36)(A)(viii)(I)(aa)(EE)) is amended by 
     inserting ``and other group insurance'' before ``benefits''.
       (i) Paycheck Protection Program Second Draw Loans.--Section 
     7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended 
     by adding at the end the following:
       ``(37) Paycheck protection program second draw loans.--
       ``(A) Definitions.--In this paragraph--
       ``(i) the terms `community financial institutions', `credit 
     union', `eligible self-employed individual', `insured 
     depository institution', `nonprofit organization', `payroll 
     costs', `seasonal employer', and `veterans organization' have 
     the meanings given those terms in paragraph (36), except that 
     `eligible entity' shall be substituted for `eligible 
     recipient' each place it appears in the definitions of those 
     terms;
       ``(ii) the term `covered loan' means a loan made under this 
     paragraph;
       ``(iii) the terms `covered mortgage obligation', `covered 
     operating expenditure', `covered property damage cost', 
     `covered rent obligation', `covered supplier cost', `covered 
     utility payment', and `covered worker protection expenditure' 
     have the meanings given those terms in section 1106(a) of the 
     CARES Act (15 U.S.C. 9005(a));
       ``(iv) the term `covered period' means the period beginning 
     on the date of the origination of a covered loan and ending 
     on December 31, 2020;
       ``(v) the term `eligible entity'--

       ``(I) means any business concern, nonprofit organization, 
     veterans organization, Tribal

[[Page S6298]]

     business concern, eligible self-employed individual, sole 
     proprietor, independent contractor, or small agricultural 
     cooperative that--

       ``(aa)(AA) with respect to a business concern, would 
     qualify as a small business concern by the annual receipts 
     size standard (if applicable) established by section 121.201 
     of title 13, Code of Federal Regulations, or any successor 
     regulation; or
       ``(BB) if the entity does not qualify as a small business 
     concern, meets the alternative size standard established 
     under section 3(a)(5);
       ``(bb) employs not more than 300 employees; and
       ``(cc)(AA) except as provided in subitems (BB), (CC), and 
     (DD), had gross receipts during the first, second, or third 
     quarter in 2020 that demonstrate not less than a 35 percent 
     reduction from the gross receipts of the entity during the 
     same quarter in 2019;
       ``(BB) if the entity was not in business during the first 
     or second quarter of 2019, but was in business during the 
     third and fourth quarter of 2019, had gross receipts during 
     the first, second, or third quarter of 2020 that demonstrate 
     not less than a 35 percent reduction from the gross receipts 
     of the entity during the third or fourth quarter of 2019;
       ``(CC) if the entity was not in business during the first, 
     second, or third quarter of 2019, but was in business during 
     the fourth quarter of 2019, had gross receipts during the 
     first, second, or third quarter of 2020 that demonstrate not 
     less than a 35 percent reduction from the gross receipts of 
     the entity during the fourth quarter of 2019; or
       ``(DD) if the entity was not in business during 2019, but 
     was in operation on February 15, 2020, had gross receipts 
     during the second or third quarter of 2020 that demonstrate 
     not less than a 35 percent reduction from the gross receipts 
     of the entity during the first quarter of 2020;

       ``(II) includes an organization described in subparagraph 
     (D)(vii) of paragraph (36) that is eligible to receive a loan 
     under that paragraph and that meets the requirements 
     described in items (aa) and (cc) of subclause (I); and
       ``(III) does not include--

       ``(aa) an issuer, the securities of which are listed on an 
     exchange registered a national securities exchange under 
     section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 
     78f);
       ``(bb) any entity that--
       ``(AA) is a type of business concern described in 
     subsection (b), (c), (d), (e), (f), (h), (l) (m), (p), (q), 
     (r), or (s) of section 120.110 of title 13, Code of Federal 
     Regulations, or any successor regulation;
       ``(BB) is a type of business concern described in section 
     120.110(g) of title 13, Code of Federal Regulations, or any 
     successor regulation, except as otherwise provided in the 
     interim final rule of the Administration entitled `Business 
     Loan Program Temporary Changes; Paycheck Protection Program--
     Additional Eligibility Criteria and Requirements for Certain 
     Pledges of Loans' (85 Fed. Reg. 21747 (April 20, 2020));
       ``(CC) is a type of business concern described in section 
     120.110(i) of title 13, Code of Federal Regulations, or any 
     successor regulation, except if the business concern is an 
     organization described in paragraph (36)(D)(vii);
       ``(DD) is a type of business concern described in section 
     120.110(j) of title 13, Code of Federal Regulations, or any 
     successor regulation, except as otherwise provided in the 
     interim final rules of the Administration entitled `Business 
     Loan Program Temporary Changes; Paycheck Protection Program--
     Eligibility of Certain Electric Cooperatives' (85 Fed. Reg. 
     29847 (May 19, 2020)) and `Business Loan Program Temporary 
     Changes; Paycheck Protection Program--Eligibility of Certain 
     Telephone Cooperatives' (85 Fed. Reg. 35550 (June 11, 2020)) 
     or any other guidance or rule issued or that may be issued by 
     the Administrator;
       ``(EE) is a type of business concern described in section 
     120.110(n) of title 13, Code of Federal Regulations, or any 
     successor regulation, except as otherwise provided in the 
     interim final rule of the Administration entitled `Business 
     Loan Program Temporary Changes; Paycheck Protection Program--
     Additional Eligibility Revisions to First Interim Final Rule' 
     (85 Fed. Reg. 38301 (June 26, 2020)) or any other guidance or 
     rule issued or that may be issued by the Administrator;
       ``(FF) is a type of business concern described in section 
     120.110(o) of title 13, Code of Federal Regulations, or any 
     successor regulation, except as otherwise provided in any 
     guidance or rule issued or that may be issued by the 
     Administrator; or
       ``(GG) is an entity that would be described in the 
     subsections listed in subitems (AA) through (FF) if the 
     entity were a business concern; or
       ``(HH) is assigned, or was approved for a loan under 
     paragraph (36) with, a North American Industry Classification 
     System code beginning with 52;
       ``(cc) any business concern or entity primarily engaged in 
     political or lobbying activities, which shall include any 
     entity that is organized for research or for engaging in 
     advocacy in areas such as public policy or political strategy 
     or otherwise describes itself as a think tank in any public 
     documents;
       ``(dd) any business concern or entity--
       ``(AA) for which an entity created in or organized under 
     the laws of the People's Republic of China or the Special 
     Administrative Region of Hong Kong, or that has significant 
     operations in the People's Republic of China or the Special 
     Administrative Region of Hong Kong, owns or holds, directly 
     or indirectly, not less than 20 percent of the economic 
     interest of the business concern or entity, including as 
     equity shares or a capital or profit interest in a limited 
     liability company or partnership; or
       ``(BB) that retains, as a member of the board of directors 
     of the business concern, a person who is a resident of the 
     People's Republic of China; or
       ``(ee) any person required to submit a registration 
     statement under section 2 of the Foreign Agents Registration 
     Act of 1938 (22 U.S.C. 612);
       ``(vi) the terms `exchange', `issuer', and `security' have 
     the meanings given those terms in section 3(a) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78c(a)); and
       ``(vii) the term `Tribal business concern' means a Tribal 
     business concern described in section 31(b)(2)(C).
       ``(B) Loans.--Except as otherwise provided in this 
     paragraph, the Administrator may guarantee covered loans to 
     eligible entities under the same terms, conditions, and 
     processes as a loan made under paragraph (36).
       ``(C) Maximum loan amount.--
       ``(i) In general.--Except as otherwise provided in this 
     subparagraph, the maximum amount of a covered loan made to an 
     eligible entity is the lesser of--

       ``(I) the product obtained by multiplying--

       ``(aa) at the election of the eligible entity, the average 
     total monthly payment for payroll costs incurred or paid by 
     the eligible entity during--
       ``(AA) the 1-year period before the date on which the loan 
     is made; or
       ``(BB) calendar year 2019; by
       ``(bb) 2.5; or

       ``(II) $2,000,000.

       ``(ii) Seasonal employers.--The maximum amount of a covered 
     loan made to an eligible entity that is a seasonal employer 
     is the lesser of--

       ``(I) the product obtained by multiplying--

       ``(aa) at the election of the eligible entity, the average 
     total monthly payments for payroll costs incurred or paid by 
     the eligible entity--
       ``(AA) for a 12-week period beginning February 15, 2019 or 
     March 1, 2019 and ending June 30, 2019; or
       ``(BB) for a consecutive 12-week period between May 1, 2019 
     and September 15, 2019; by
       ``(bb) 2.5; or

       ``(II) $2,000,000.

       ``(iii) New entities.--The maximum amount of a covered loan 
     made to an eligible entity that did not exist during the 1-
     year period preceding February 15, 2020 is the lesser of--

       ``(I) the product obtained by multiplying--

       ``(aa) the quotient obtained by dividing--
       ``(AA) the sum of the total monthly payments by the 
     eligible entity for payroll costs paid or incurred by the 
     eligible entity as of the date on which the eligible entity 
     applies for the covered loan; by
       ``(BB) the number of months in which those payroll costs 
     were paid or incurred; by
       ``(bb) 2.5; or

       ``(II) $2,000,000.

       ``(iv) Limit for multiple locations.--With respect to an 
     eligible entity with more than 1 physical location, the total 
     amount of all covered loans shall be not more than 
     $2,000,000.
       ``(v) Loan number limitation.--An eligible entity may only 
     receive 1 covered loan.
       ``(vi) 90 day rule for maximum loan amount.--The maximum 
     aggregate loan amount of loans guaranteed under this 
     subsection that are approved for an eligible entity 
     (including any affiliates) within 90 days of approval of 
     another loan under this subsection for the eligible entity 
     (including any affiliates) shall not exceed $10,000,000.
       ``(D) Exception from certain certification requirements.--
     An eligible entity applying for a covered loan shall not be 
     required to make the certification described in subclause 
     (III) or (IV) of paragraph (36)(G)(i).
       ``(E) Fee waiver.--With respect to a covered loan--
       ``(i) in lieu of the fee otherwise applicable under 
     paragraph (23)(A), the Administrator shall collect no fee; 
     and
       ``(ii) in lieu of the fee otherwise applicable under 
     paragraph (18)(A), the Administrator shall collect no fee.
       ``(F) Eligible churches and religious organizations.--
       ``(i) Sense of congress.--It is the sense of Congress that 
     the interim final rule of the Administration entitled 
     `Business Loan Program Temporary Changes; Paycheck Protection 
     Program' (85 Fed. Reg. 20817 (April 15, 2020)) properly 
     clarified the eligibility of churches and religious 
     organizations for loans made under paragraph (36).
       ``(ii) Applicability of prohibition.--The prohibition on 
     eligibility established by section 120.110(k) of title 13, 
     Code of Federal Regulations, or any successor regulation, 
     shall not apply to a covered loan.
       ``(G) Gross receipts for nonprofit and veterans 
     organizations.--For purposes of calculating gross receipts 
     under subparagraph (A)(v)(I)(cc) for an eligible entity that 
     is a nonprofit organization, a veterans organization, or an 
     organization described in subparagraph (A)(v)(II), gross 
     receipts--
       ``(i) shall include proceeds from program services, 
     fundraising events, federated campaigns, gifts, donor-advised 
     funds, and funds from similar sources; and
       ``(ii) shall not include--

[[Page S6299]]

       ``(I) Federal grants (excluding any loan forgiveness on 
     loans received under paragraph (36) or this paragraph);
       ``(II) revenues from a supporting organization;
       ``(III) grants from private foundations that are disbursed 
     over the course of more than 1 calendar year;
       ``(IV) any contribution of property other than money, 
     stocks, bonds, and other securities, provided that the non-
     cash contribution is not sold by the organization in a 
     transaction unrelated to the tax-exempt purpose of the 
     organization; or
       ``(V) any loan proceeds from a loan made under paragraph 
     (36).

       ``(H) Loan forgiveness.--
       ``(i) In general.--Except as otherwise provided in this 
     subparagraph, an eligible entity shall be eligible for 
     forgiveness of indebtedness on a covered loan in the same 
     manner as an eligible recipient with respect to a loan made 
     under paragraph (36), as described in section 1106 of the 
     CARES Act (15 U.S.C. 9005).
       ``(ii) Forgiveness amount.--An eligible entity shall be 
     eligible for forgiveness of indebtedness on a covered loan in 
     an amount equal to the sum of the following costs incurred or 
     expenditures made during the covered period:

       ``(I) Payroll costs.
       ``(II) Any payment of interest on any covered mortgage 
     obligation (which shall not include any prepayment of or 
     payment of principal on a covered mortgage obligation).
       ``(III) Any covered operations expenditure.
       ``(IV) Any covered property damage cost.
       ``(V) Any payment on any covered rent obligation.
       ``(VI) Any covered utility payment.
       ``(VII) Any covered supplier cost.
       ``(VIII) Any covered worker protection expenditure.

       ``(iii) Limitation on forgiveness for all eligible 
     entities.--The forgiveness amount under this subparagraph 
     shall be equal to the lesser of--

       ``(I) the amount described in clause (ii); and
       ``(II) the amount equal to the quotient obtained by 
     dividing--

       ``(aa) the amount of the covered loan used for payroll 
     costs during the covered period; and
       ``(bb) 0.60.
       ``(I) Lender eligibility.--Except as otherwise provided in 
     this paragraph, a lender approved to make loans under 
     paragraph (36) may make covered loans under the same terms 
     and conditions as in paragraph (36).
       ``(J) Reimbursement for loan processing and servicing.--The 
     Administrator shall reimburse a lender authorized to make a 
     covered loan in an amount that is--
       ``(i) 3 percent of the principal amount of the financing of 
     the covered loan up to $350,000; and
       ``(ii) 1 percent of the principal amount of the financing 
     of the covered loan above $350,000, if applicable.
       ``(K) Set aside for small entities.--Not less than 
     $25,000,000,000 of the total amount of covered loans 
     guaranteed by the Administrator shall be made to eligible 
     entities with not more than 10 employees as of February 15, 
     2020.
       ``(L) Set aside for community financial institutions, small 
     insured depository institutions, credit unions, and farm 
     credit system institutions.--Not less than $10,000,000,000 of 
     the total amount of covered loans guaranteed by the 
     Administrator shall be made by--
       ``(i) community financial institutions;
       ``(ii) insured depository institutions with consolidated 
     assets of less than $10,000,000,000;
       ``(iii) credit unions with consolidated assets of less than 
     $10,000,000,000; and
       ``(iv) institutions of the Farm Credit System chartered 
     under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) 
     with consolidated assets of less than $10,000,000,000 (not 
     including the Federal Agricultural Mortgage Corporation).
       ``(M) Publication of guidance.--Not later than 10 days 
     after the date of enactment of this paragraph, the 
     Administrator shall issue guidance addressing barriers to 
     accessing capital for minority, underserved, veteran, and 
     women-owned business concerns for the purpose of ensuring 
     equitable access to covered loans.
       ``(N) Standard operating procedure.--The Administrator 
     shall, to the maximum extent practicable, allow a lender 
     approved to make covered loans to use existing program 
     guidance and standard operating procedures for loans made 
     under this subsection.
       ``(O) Prohibition on use of proceeds for lobbying 
     activities.--None of the proceeds of a covered loan may be 
     used for--
       ``(i) lobbying activities, as defined in section 3 of the 
     Lobbying Disclosure Act of 1995 (2 U.S.C. 1602);
       ``(ii) lobbying expenditures related to a State or local 
     election; or
       ``(iii) expenditures designed to influence the enactment of 
     legislation, appropriations, regulation, administrative 
     action, or Executive order proposed or pending before 
     Congress or any State government, State legislature, or local 
     legislature or legislative body.''.
       (j) Continued Access to the Paycheck Protection Program.--
       (1) In general.--Section 7(a)(36)(E)(ii) of the Small 
     Business Act (15 U.S.C. 636(a)(36)(E)(ii)) is amended by 
     striking ``$10,000,000'' and inserting ``$2,000,000''.
       (2) Applicability of maximum loan amount calculation.--
       (A) Definitions.--In this paragraph, the terms ``covered 
     loan'' and ``eligible recipient'' have the meanings given 
     those terms in section 7(a)(36) of the Small Business Act (15 
     U.S.C. 636(a)(36)).
       (B) Applicability.--The amendment made by paragraph (1) 
     shall apply only with respect to a covered loan applied for 
     by an eligible recipient on or after the date of enactment of 
     this Act.
       (k) Increased Ability for Paycheck Protection Program 
     Borrowers to Request an Increase in Loan Amount Due to 
     Updated Regulations.--
       (1) Definitions.--In this subsection, the terms ``covered 
     loan'' and ``eligible recipient'' have the meanings given 
     those terms in section 7(a)(36) of the Small Business Act (15 
     U.S.C. 636(a)(36)).
       (2) Increased amount.--Notwithstanding the interim final 
     rule issued by the Administration entitled ``Business Loan 
     Program Temporary Changes; Paycheck Protection Program--Loan 
     Increases'' (85 Fed. Reg. 29842 (May 19, 2020)), an eligible 
     recipient of a covered loan that is eligible for an increased 
     covered loan amount as a result of any interim final rule 
     that allows for covered loan increases may submit a request 
     for an increase in the covered loan amount even if--
       (A) the initial covered loan amount has been fully 
     disbursed; or
       (B) the lender of the initial covered loan has submitted to 
     the Administration a Form 1502 report related to the covered 
     loan.
       (l) Calculation of Maximum Loan Amount for Farmers and 
     Ranchers Under the Paycheck Protection Program.--
       (1) In general.--Section 7(a)(36) of the Small Business Act 
     (15 U.S.C. 636(a)(36)), as amended by subsection (j) of this 
     section, is amended--
       (A) in subparagraph (E), in the matter preceding clause 
     (i), by striking ``During'' and inserting ``Except as 
     provided in subparagraph (T), during''; and
       (B) by adding at the end the following:
       ``(T) Calculation of maximum loan amount for farmers and 
     ranchers.--
       ``(i) Definition.--In this subparagraph, the term `covered 
     recipient' means an eligible recipient that--

       ``(I) operates as a sole proprietorship or as an 
     independent contractor, or is an eligible self-employed 
     individual;
       ``(II) reports farm income or expenses on a Schedule F (or 
     any equivalent successor schedule); and
       ``(III) was in business during the period beginning on 
     February 15, 2019 and ending on June 30, 2019.

       ``(ii) No employees.--With respect to covered recipient 
     without employees, the maximum covered loan amount shall be 
     the lesser of--

       ``(I) the sum of--

       ``(aa) the product obtained by multiplying--
       ``(AA) the gross income of the covered recipient in 2019, 
     as reported on a Schedule F (or any equivalent successor 
     schedule), that is not more than $100,000, divided by 12; and
       ``(BB) 2.5; and
       ``(bb) the outstanding amount of a loan under subsection 
     (b)(2) that was made during the period beginning on January 
     31, 2020 and ending on April 3, 2020 that the borrower 
     intends to refinance under the covered loan, not including 
     any amount of any advance under the loan that is not required 
     to be repaid; or

       ``(II) $2,000,000.

       ``(iii) With employees.--With respect to a covered 
     recipient with employees, the maximum covered loan amount 
     shall be calculated using the formula described in 
     subparagraph (E), except that the gross income of the covered 
     recipient described in clause (ii)(I)(aa)(AA) of this 
     subparagraph, as divided by 12, shall be added to the sum 
     calculated under subparagraph (E)(i)(I).
       ``(iv) Recalculation.--A lender that made a covered loan to 
     a covered recipient before the date of enactment of this 
     subparagraph may, at the request of the covered recipient--

       ``(I) recalculate the maximum loan amount applicable to 
     that covered loan based on the formula described in clause 
     (ii) or (iii), as applicable, if doing so would result in a 
     larger covered loan amount; and
       ``(II) provide the covered recipient with additional 
     covered loan amounts based on that recalculation.''.

       (m) Farm Credit System Institutions.--
       (1) Definition of farm credit system institution.--In this 
     subsection, the term ``Farm Credit System institution''--
       (A) means an institution of the Farm Credit System 
     chartered under the Farm Credit Act of 1971 (12 U.S.C. 2001 
     et seq.); and
       (B) does not include the Federal Agricultural Mortgage 
     Corporation.
       (2) Facilitation of participation in ppp and second draw 
     loans.--
       (A) Applicable rules.--Solely with respect to loans under 
     paragraphs (36) and (37) of section 7(a) of the Small 
     Business Act (15 U.S.C. 636(a)), Farm Credit Administration 
     regulations and guidance issued as of July 14, 2020, and 
     compliance with such regulations and guidance, shall be 
     deemed functionally equivalent to requirements referenced in 
     section 3(a)(iii)(II) of the interim final rule of the 
     Administration entitled ``Business Loan Program Temporary 
     Changes; Paycheck Protection Program'' (85 Fed. Reg. 20811 
     (April 15, 2020)) or any similar requirement referenced in 
     that interim final rule in implementing such paragraph (37).

[[Page S6300]]

       (B) Applicability of certain loan requirements.--For 
     purposes of making loans under paragraph (36) or (37) of 
     section 7(a) of the Small Business Act (15 U.S.C. 636(a)) or 
     forgiving those loans in accordance with section 1106 of the 
     CARES Act (15 U.S.C. 9005) and subparagraph (H) of such 
     paragraph (37), sections 4.13, 4.14, and 4.14A of the Farm 
     Credit Act of 1971 (12 U.S.C. 2199, 2202, 2202a) (including 
     regulations issued under those sections) shall not apply.
       (C) Risk weight.--
       (i) In general.--With respect to the application of Farm 
     Credit Administration capital requirements, a loan described 
     in clause (ii)--

       (I) shall receive a risk weight of zero percent; and
       (II) shall not be included in the calculation of any 
     applicable leverage ratio or other applicable capital ratio 
     or calculation.

       (ii) Loans described.--A loan referred to in clause (i) 
     is--

       (I) a loan made by a Farm Credit Bank described in section 
     1.2(a) of the Farm Credit Act of 1971 (12 U.S.C. 2002(a)) to 
     a Federal Land Bank Association, a Production Credit 
     Association, or an agricultural credit association described 
     in that section to make loans under paragraph (36) or (37) of 
     section 7(a) of the Small Business Act (15 U.S.C. 636(a)) or 
     forgive those loans in accordance with section 1106 of the 
     CARES Act (15 U.S.C. 9005) and subparagraph (H) of such 
     paragraph (37); or
       (II) a loan made by a Federal Land Bank Association, a 
     Production Credit Association, an agricultural credit 
     association, or the bank for cooperatives described in 
     section 1.2(a) of the Farm Credit Act of 1971 (12 U.S.C. 
     2002(a)) under paragraph (36) or (37) of section 7(a) of the 
     Small Business Act (15 U.S.C. 636(a)).

       (D) Reservation of loan guarantees.--Section 7(a)(36)(S) of 
     the Small Business Act (15 U.S.C. 636(a)(36)(S)) is amended--
       (i) in clause (i)--

       (I) in subclause (I), by striking ``and'' at the end;
       (II) in subclause (II), by striking the period at the end 
     and inserting ``; and''; and
       (III) by adding at the end the following:
       ``(III) institutions of the Farm Credit System chartered 
     under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) 
     with consolidated assets of not less than $10,000,000,000 and 
     less than $50,000,000,000.''; and

       (ii) in clause (ii)--

       (I) in subclause (II), by striking ``and'' at the end;
       (II) in subclause (III), by striking the period at the end 
     and inserting ``; and''; and
       (III) by adding at the end the following:
       ``(IV) institutions of the Farm Credit System chartered 
     under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) 
     with consolidated assets of less than $10,000,000,000.''.

       (n) Definition of Seasonal Employer.--
       (1) PPP loans.--Section 7(a)(36)(A) of the Small Business 
     Act (15 U.S.C. 636(a)(36)(A)) is amended--
       (A) in clause (xi), by striking ``and'' at the end;
       (B) in clause (xii), by striking the period at the end and 
     inserting ``; and''; and
       (C) by adding at the end the following:
       ``(xiii) the term `seasonal employer' means an eligible 
     recipient that--

       ``(I) does not operate for more than 7 months in any 
     calendar year; or
       ``(II) during the preceding calendar year, had gross 
     receipts for any 6 months of that year that were not more 
     than 33.33 percent of the gross receipts of the employer for 
     the other 6 months of that year.''.

       (2) Loan forgiveness.--Paragraph (12) of section 1106(a) of 
     the CARES Act (15 U.S.C. 9005(a)), as so redesignated by 
     subsection (d)(2) of this section, is amended to read as 
     follows:
       ``(12) the terms `payroll costs' and `seasonal employer' 
     have the meanings given those terms in section 7(a)(36) of 
     the Small Business Act (15 U.S.C. 636(a)(36)).''.
       (o) Eligibility of 501(c)(6) Organizations for Loans Under 
     the Paycheck Protection Program.--Section 7(a)(36)(D) of the 
     Small Business Act (15 U.S.C. 636(a)(36)(D)) is amended--
       (1) in clause (v), by inserting ``or whether an 
     organization described in clause (vii) employs not more than 
     150 employees,'' after ``clause (i)(I),'';
       (2) in clause (vi), by inserting ``, an organization 
     described in clause (vii),'' after ``nonprofit 
     organization''; and
       (3) by adding at the end the following:
       ``(vii) Eligibility for certain 501(c)(6) organizations.--

       ``(I) In general.--Except as provided in subclause (II), 
     any organization that is described in section 501(c)(6) of 
     the Internal Revenue Code and that is exempt from taxation 
     under section 501(a) of such Code (excluding professional 
     sports leagues and organizations with the purpose of 
     promoting or participating in a political campaign or other 
     activity) shall be eligible to receive a covered loan if--

       ``(aa) the organization does not receive more than 10 
     percent of its receipts from lobbying activities;
       ``(bb) the lobbying activities of the organization do not 
     comprise more than 10 percent of the total activities of the 
     organization; and
       ``(cc) the organization employs not more than 150 
     employees.

       ``(II) Destination marketing organizations.--
     Notwithstanding subclause (I), during the covered period, any 
     destination marketing organization shall be eligible to 
     receive a covered loan if--

       ``(aa) the destination marketing organization does not 
     receive more than 10 percent of its receipts from lobbying 
     activities;
       ``(bb) the lobbying activities of the destination marketing 
     organization do not comprise more than 10 percent of the 
     total activities of the organization;
       ``(cc) the destination marketing organization employs not 
     more than 150 employees; and
       ``(dd) the destination marketing organization--
       ``(AA) is described in section 501(c) of the Internal 
     Revenue Code and is exempt from taxation under section 501(a) 
     of such Code; or
       ``(BB) is a quasi-governmental entity or is a political 
     subdivision of a State or local government, including any 
     instrumentality of those entities.''.
       (p) Prohibition on Use of Loan Proceeds for Lobbying 
     Activities.--Section 7(a)(36)(F) of the Small Business Act 
     (15 U.S.C. 636(a)(36)(F)) is amended by adding at the end the 
     following:
       ``(vi) Prohibition.--None of the proceeds of a covered loan 
     may be used for--

       ``(I) lobbying activities, as defined in section 3 of the 
     Lobbying Disclosure Act of 1995 (2 U.S.C. 1602);
       ``(II) lobbying expenditures related to a State or local 
     election; or
       ``(III) expenditures designed to influence the enactment of 
     legislation, appropriations, regulation, administrative 
     action, or Executive order proposed or pending before 
     Congress or any State government, State legislature, or local 
     legislature or legislative body.''.

       (q) Effective Date; Applicability.--The amendments made to 
     paragraph (36) of section 7(a) of the Small Business Act (15 
     U.S.C. 636(a)) and title I of the CARES Act (Public Law 116-
     136) under this section shall be effective as if included in 
     the CARES Act and shall apply to any loan made pursuant to 
     section 7(a)(36) of the Small Business Act (15 U.S.C. 
     636(a)(36)).
       (r) Bankruptcy Provisions.--
       (1) In general.--Section 364 of title 11, United States 
     Code, is amended by adding at the end the following:
       ``(g)(1) The court, after notice and a hearing, may 
     authorize a debtor in possession or a trustee that is 
     authorized to operate the business of the debtor under 
     section 1183, 1184, 1203, 1204, or 1304 of this title to 
     obtain a loan under paragraph (36) or (37) of section 7(a) of 
     the Small Business Act (15 U.S.C. 636(a)), and such loan 
     shall be treated as a debt to the extent the loan is not 
     forgiven in accordance with section 1106 of the CARES Act (15 
     U.S.C. 9005) or subparagraph (H) of such paragraph (37), as 
     applicable, with priority equal to a claim of the kind 
     specified in subsection (c)(1) of this section.
       ``(2) The trustee may incur debt described in paragraph (1) 
     notwithstanding any provision in a contract, prior order 
     authorizing the trustee to incur debt under this section, 
     prior order authorizing the trustee to use cash collateral 
     under section 363, or applicable law that prohibits the 
     debtor from incurring additional debt.
       ``(3) The court shall hold a hearing within 7 days after 
     the filing and service of the motion to obtain a loan 
     described in paragraph (1). Notwithstanding the Federal Rules 
     of Bankruptcy Procedure, at such hearing, the court may grant 
     relief on a final basis.''.
       (2) Allowance of administrative expenses.--Section 503(b) 
     of title 11, United States Code, is amended--
       (A) in paragraph (8)(B), by striking ``and'' at the end;
       (B) in paragraph (9), by striking the period at the end and 
     inserting ``; and''; and
       (C) by adding at the end the following:
       ``(10) any debt incurred under section 364(g)(1) of this 
     title.''.
       (3) Confirmation of plan for reorganization.--Section 1191 
     of title 11, United States Code, is amended by adding at the 
     end the following:
       ``(f) Special Provision Related to COVID-19 Pandemic.--
     Notwithstanding section 1129(a)(9)(A) of this title and 
     subsection (e) of this section, a plan that provides for 
     payment of a claim of a kind specified in section 503(b)(10) 
     of this title may be confirmed under subsection (b) of this 
     section if the plan proposes to make payments on account of 
     such claim when due under the terms of the loan giving rise 
     to such claim.''.
       (4) Confirmation of plan for family farmers and 
     fishermen.--Section 1225 of title 11, United States Code, is 
     amended by adding at the end the following:
       ``(d) Notwithstanding section 1222(a)(2) of this title and 
     subsection (b)(1) of this section, a plan that provides for 
     payment of a claim of a kind specified in section 503(b)(10) 
     of this title may be confirmed if the plan proposes to make 
     payments on account of such claim when due under the terms of 
     the loan giving rise to such claim.''.
       (5) Confirmation of plan for individuals.--Section 1325 of 
     title 11, United States Code, is amended by adding at the end 
     the following:
       ``(d) Notwithstanding section 1322(a)(2) of this title and 
     subsection (b)(1) of this section, a plan that provides for 
     payment of a claim of a kind specified in section 503(b)(10) 
     of this title may be confirmed if the plan proposes to make 
     payments on account of such claim when due under the terms of 
     the loan giving rise to such claim.''.
       (6) Effective date; sunset.--
       (A) Effective date.--The amendments made by paragraphs (1) 
     through (5) shall--
       (i) take effect on the date on which the Administrator 
     submits to the Director of the

[[Page S6301]]

     Executive Office for United States Trustees a written 
     determination that, subject to satisfying any other 
     eligibility requirements, any debtor in possession or trustee 
     that is authorized to operate the business of the debtor 
     under section 1183, 1184, 1203, 1204, or 1304 of title 11, 
     United States Code, would be eligible for a loan under 
     paragraphs (36) and (37) of section 7(a) of the Small 
     Business Act (15 U.S.C. 636(a)); and
       (ii) apply to any case pending on or commenced on or after 
     the date described in clause (i).
       (B) Sunset.--
       (i) In general.--If the amendments made by this subsection 
     take effect under subparagraph (A), effective on the date 
     that is 2 years after the date of enactment of this Act--

       (I) section 364 of title 11, United States Code, is amended 
     by striking subsection (g);
       (II) section 503(b) of title 11, United States Code, is 
     amended--

       (aa) in paragraph (8)(B), by adding ``and'' at the end;
       (bb) in paragraph (9), by striking ``; and'' at the end and 
     inserting a period; and
       (cc) by striking paragraph (10);

       (III) section 1191 of title 11, United States Code, is 
     amended by striking subsection (f);
       (IV) section 1225 of title 11, United States Code, is 
     amended by striking subsection (d); and
       (V) section 1325 of title 11, United States Code, is 
     amended by striking subsection (d).

       (ii) Applicability.--Notwithstanding the amendments made by 
     clause (i) of this subparagraph, if the amendments made by 
     paragraphs (1), (2), (3), (4), and (5) take effect under 
     subparagraph (A) of this paragraph, such amendments shall 
     apply to any case under title 11, United States Code, 
     commenced before the date that is 2 years after the date of 
     enactment of this Act.
       (s) Oversight.--
       (1) Compliance with oversight requirements.--
       (A) In general.--Except as provided in subparagraph (B), on 
     and after the date of enactment of this Act, the 
     Administrator shall comply with any data or information 
     requests or inquiries made by the Comptroller General of the 
     United States not later than 30 days (or such later date as 
     the Comptroller General may specify) after receiving the 
     request or inquiry.
       (B) Exception.--If the Administrator is unable to comply 
     with a request or inquiry described in subparagraph (A) 
     within the 30-day period or, if applicable, later period 
     described in that clause, the Administrator shall, during 
     that 30-day (or later) period, submit to the Committee on 
     Small Business and Entrepreneurship of the Senate and the 
     Committee on Small Business of the House of Representatives a 
     notification that includes a detailed justification for the 
     inability of the Administrator to comply with the request or 
     inquiry.
       (2) Testimony.--Not later than the date that is 30 days 
     after the date of enactment of this Act, and every quarter 
     thereafter until the date that is 2 years after the date of 
     enactment of this Act, the Administrator and the Secretary of 
     the Treasury shall testify before the Committee on Small 
     Business and Entrepreneurship of the Senate and the Committee 
     on Small Business of the House of Representatives regarding 
     implementation of this section and the amendments made by 
     this section.
       (t) Conflicts of Interest.--
       (1) Definitions.--In this subsection:
       (A) Controlling interest.--The term ``controlling 
     interest'' means owning, controlling, or holding not less 
     than 20 percent, by vote or value, of the outstanding amount 
     of any class of equity interest in an entity.
       (B) Covered entity.--
       (i) Definition.--The term ``covered entity'' means an 
     entity in which a covered individual directly or indirectly 
     holds a controlling interest.
       (ii) Treatment of securities.--For the purpose of 
     determining whether an entity is a covered entity, the 
     securities owned, controlled, or held by 2 or more 
     individuals who are related as described in subparagraph 
     (C)(ii) shall be aggregated.
       (C) Covered individual.--The term ``covered individual'' 
     means--
       (i) the President, the Vice President, the head of an 
     Executive department, or a Member of Congress; and
       (ii) the spouse, child, son-in-law, or daughter-in-law, as 
     determined under applicable common law, of an individual 
     described in clause (i).
       (D) Executive department.--The term ``Executive 
     department'' has the meaning given the term in section 101 of 
     title 5, United States Code.
       (E) Member of congress.--The term ``Member of Congress'' 
     means a Member of the Senate or House of Representatives, a 
     Delegate to the House of Representatives, and the Resident 
     Commissioner from Puerto Rico.
       (F) Equity interest.--The term ``equity interest'' means--
       (i) a share in an entity, without regard to whether the 
     share is--

       (I) transferable; or
       (II) classified as stock or anything similar;

       (ii) a capital or profit interest in a limited liability 
     company or partnership; or
       (iii) a warrant or right, other than a right to convert, to 
     purchase, sell, or subscribe to a share or interest described 
     in clause (i) or (ii), respectively.
       (2) Requirement.--The principal executive officer and the 
     principal financial officer, or individuals performing 
     similar functions, of an entity seeking to enter a 
     transaction made under paragraph (36) or (37) of section 7(a) 
     of the Small Business Act (15 U.S.C. 636(a)), as added and 
     amended by this section, shall, before that transaction is 
     approved, disclose to the Administrator whether the entity is 
     a covered entity.
       (3) Applicability.--The requirement under paragraph (2)--
       (A) shall apply with respect to any transaction made under 
     paragraph (36) or (37) of section 7(a) of the Small Business 
     Act (15 U.S.C. 636(a)), as added and amended by this section, 
     on or after the date of enactment of this Act; and
       (B) shall not apply with respect to--
       (i) any transaction described in subparagraph (A) that was 
     made before the date of enactment of this Act; or
       (ii) forgiveness under section 1106 of the CARES Act (15 
     U.S.C. 9005) or any other provision of law of any loan 
     associated with any transaction described in subparagraph (A) 
     that was made before the date of enactment of this Act.
       (u) Commitment Authority and Appropriations.--
       (1) Commitment authority.--Section 1102(b) of the CARES Act 
     (Public Law 116-136) is amended--
       (A) in paragraph (1)--
       (i) in the paragraph heading, by inserting ``and second 
     draw'' after ``PPP'';
       (ii) by striking ``August 8, 2020'' and inserting 
     ``December 31, 2020'';
       (iii) by striking ``paragraph (36)'' and inserting 
     ``paragraphs (36) and (37)''; and
       (iv) by striking ``$659,000,000,000'' and inserting 
     ``$779,640,000,000''; and
       (B) by amending paragraph (2) to read as follows:
       ``(2) Other 7(a) loans.--During fiscal year 2020, the 
     amount authorized for commitments for section 7(a) of the 
     Small Business Act (15 U.S.C. 636(a)) under the heading 
     `Small Business Administration--Business Loans Program 
     Account' in the Financial Services and General Government 
     Appropriations Act, 2020 (division C of Public Law 116-193) 
     shall apply with respect to any commitments under such 
     section 7(a) other than under paragraphs (36) and (37) of 
     such section 7(a).''.
       (2) Direct appropriations.--
       (A) New direct appropriations for ppp loans, second draw 
     loans, and the mbda.--There is appropriated, out of amounts 
     in the Treasury not otherwise appropriated, for the fiscal 
     year ending September 30, 2020, to remain available until 
     September 30, 2021, for additional amounts--
       (i) $257,640,000,000 under the heading ``Small Business 
     Administration--Business Loans Program Account, CARES Act'' 
     for the cost of guaranteed loans as authorized under 
     paragraph (36) and (37) of section 7(a) of the Small Business 
     Act (15 U.S.C. 636(a)), as amended and added by this Act;
       (ii) $10,000,000 under the heading ``Department of 
     Commerce--Minority Business Development Agency'' for minority 
     business centers of the Minority Business Development Agency 
     to provide technical assistance to small business concerns; 
     and
       (iii) $50,000,000 under the heading ``Small Business 
     Administration--Salaries and Expenses'' for the cost of 
     carrying out reviews and audits of loans under subsection (l) 
     of section 1106 of the CARES Act (15 U.S.C. 9005), as amended 
     by this Act.
       (B) Availability of amounts appropriated for the office of 
     inspector general.--Section 1107(a)(3) of the CARES Act (15 
     U.S.C. 9006(a)(3)) is amended by striking ``September 20, 
     2024'' and inserting ``expended''.
       (3) Emergency designation.--
       (A) In general.--The amounts provided under this subsection 
     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)).
       (B) Designation in senate.--In the Senate, this subsection 
     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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