(Providing for reconciliation pursuant to S. Con. Res. 5, the Concurrent Resolution on the Budget for Fiscal Year 2021) TITLE VI—COMMITTEE ON 1 SMALL BUSINESS 2 SEC. 6001. AMENDMENTS TO PAYCHECK PROTECTION PRO- 3 GRAM. 4 (a) ELIGIBILITY OF CERTAIN NONPROFIT ENTITIES 5 FOR COVERED LOANS UNDER THE PAYCHECK PROTEC- 6 TION PROGRAM.— 7 (1) IN GENERAL.—Section 7(a)(36) of the 8 Small Business Act (15 U.S.C. 636(a)(36)), as 9 amended by the Economic Aid to Hard-Hit Small 10 Businesses, Nonprofits, and Venues Act (title III of 11 division N of Public Law 116–260), is amended— 12 (A) in subparagraph (A)— 13 (i) in clause (xv), by striking ‘‘and’’ at 14 the end; 15 (ii) in clause (xvi), by striking the pe- 16 riod at the end and inserting ‘‘; and’’; and 17 (iii) by adding at the end the fol- 18 lowing: 19 ‘‘(xvii) the term ‘additional covered 20 nonprofit entity’— 21 VerDate Mar 15 2010 19:36 Feb 07, 2021 Jkt 000000 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 C:\USERS\VKSRINIVASA\APPDATA\ROAMING\SOFTQUAD\XMETAL\11.0\GEN\C\SBC_BR February 7, 2021 (7:36 p.m.) G:\CMTE\SB\17\MISC\SBC_BR.XML g:\VHLC\020721\020721.083.xml (789870|8)
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(Providing for reconciliation pursuant to S. Con. Res. 5, the Concurrent Resolution on the Budget for Fiscal Year 2021)
TITLE VI—COMMITTEE ON 1
SMALL BUSINESS 2
SEC. 6001. AMENDMENTS TO PAYCHECK PROTECTION PRO-3
GRAM. 4
(a) ELIGIBILITY OF CERTAIN NONPROFIT ENTITIES 5
FOR COVERED LOANS UNDER THE PAYCHECK PROTEC-6
TION PROGRAM.— 7
(1) IN GENERAL.—Section 7(a)(36) of the 8
Small Business Act (15 U.S.C. 636(a)(36)), as 9
amended by the Economic Aid to Hard-Hit Small 10
Businesses, Nonprofits, and Venues Act (title III of 11
division N of Public Law 116–260), is amended— 12
(A) in subparagraph (A)— 13
(i) in clause (xv), by striking ‘‘and’’ at 14
the end; 15
(ii) in clause (xvi), by striking the pe-16
riod at the end and inserting ‘‘; and’’; and 17
(iii) by adding at the end the fol-18
lowing: 19
‘‘(xvii) the term ‘additional covered 20
nonprofit entity’— 21
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‘‘(I) means an organization de-1
scribed in any paragraph of section 2
501(c) of the Internal Revenue Code 3
of 1986, other than paragraph (3), 4
(4), (6), or (19), and exempt from tax 5
under section 501(a) of such Code; 6
and 7
‘‘(II) does not include any entity 8
that, if the entity were a business con-9
cern, would be described in section 10
120.110 of title 13, Code of Federal 11
Regulations (or in any successor regu-12
lation or other related guidance or 13
rule that may be issued by the Admin-14
istrator) other than a business con-15
cern described in paragraph (a) or (k) 16
of such section.’’; and 17
(B) in subparagraph (D)— 18
(i) in clause (iii), by adding at the end 19
the following: 20
‘‘(III) ELIGIBILITY OF CERTAIN 21
ORGANIZATIONS.—Subject to the pro-22
visions in this subparagraph, during 23
the covered period— 24
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‘‘(aa) a nonprofit organiza-1
tion shall be eligible to receive a 2
covered loan if the nonprofit or-3
ganization employs not more 4
than 500 employees per physical 5
location of the organization; 6
‘‘(bb) an additional covered 7
nonprofit entity and an organiza-8
tion that, but for subclauses 9
(I)(dd) and (II)(dd) of clause 10
(vii), would be eligible for a cov-11
ered loan under clause (vii) shall 12
be eligible to receive a covered 13
loan if the entity or organization 14
employs not more than 300 em-15
ployees per physical location of 16
the entity or organization.’’; 17
(ii) in clause (iv)— 18
(I) in subclause (III), by striking 19
‘‘and’’ at the end; 20
(II) in subclause (IV)— 21
(aa) by striking ‘‘(aa)’’; 22
(bb) by striking ‘‘; or’’ and 23
inserting a semicolon; and 24
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(cc) by striking item (bb); 1
and 2
(III) by adding at the end the 3
following: 4
‘‘(V) any nonprofit organization, 5
additional covered nonprofit entity, or 6
any organization made eligible for a 7
loan under clause (vii); and’’; and 8
(iii) by striking clause (vi) and insert-9
ing the following: 10
‘‘(vi) ELIGIBILITY OF ADDITIONAL 11
COVERED NONPROFIT ENTITIES.—An addi-12
tional covered nonprofit entity shall be eli-13
gible to receive a covered loan if— 14
‘‘(I) the additional covered non-15
profit entity does not receive more 16
than 15 percent of its receipts from 17
lobbying activities; 18
‘‘(II) the lobbying activities of 19
the additional covered nonprofit entity 20
do not comprise more than 15 percent 21
of the total activities of the organiza-22
tion; 23
‘‘(III) the cost of the lobbying ac-24
tivities of the additional covered non-25
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profit entity did not exceed 1
$1,000,000 during the most recent 2
tax year of the additional covered non-3
profit entity that ended prior to Feb-4
ruary 15, 2020; and 5
‘‘(IV) the additional covered non-6
profit entity employs not more than 7
300 employees.’’. 8
(2) ELIGIBILITY FOR SECOND DRAW LOANS.— 9
Paragraph (37)(A)(i) of section 7(a) of the Small 10
Business Act (15 U.S.C. 636(a)), as added by the 11
Economic Aid to Hard-Hit Small Businesses, Non-12
profits, and Venues Act (title III of division N of 13
Public Law 116–260), is amended by inserting ‘‘ ‘ad-14
ditional covered nonprofit entity’,’’ after ‘‘the 15
terms’’. 16
(b) ELIGIBILITY OF INTERNET PUBLISHING ORGANI-17
ZATIONS FOR COVERED LOANS UNDER THE PAYCHECK 18
PROTECTION PROGRAM.— 19
(1) IN GENERAL.—Section 7(a)(36)(D) of the 20
Small Business Act (15 U.S.C. 636(a)(36)(D)), as 21
amended by subsection (a), is further amended— 22
(A) in clause (iii), by adding at the end the 23
following: 24
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‘‘(IV) ELIGIBILITY OF INTERNET 1
PUBLISHING ORGANIZATIONS.—A 2
business concern or other organization 3
that was not eligible to receive a cov-4
ered loan the day before the date of 5
enactment of this subclause, is as-6
signed a North American Industry 7
Classification System code of 519130, 8
certifies in good faith as an Internet- 9
only news publisher or Internet-only 10
periodical publisher, and is engaged in 11
the collection and distribution of local 12
or regional and national news and in-13
formation shall be eligible to receive a 14
covered loan for the continued provi-15
sion of news, information, content, or 16
emergency information if— 17
‘‘(aa) the business concern 18
or organization employs not more 19
than 500 employees, or the size 20
standard established by the Ad-21
ministrator for that North Amer-22
ican Industry Classification code, 23
per physical location of the busi-24
ness concern or organization; and 25
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‘‘(bb) the business concern 1
or organization makes a good 2
faith certification that proceeds 3
of the loan will be used to sup-4
port expenses at the component 5
of the business concern or orga-6
nization that supports local or re-7
gional news.’’; 8
(B) in clause (iv), by adding at the end the 9
following: 10
‘‘(VI) any business concern or 11
other organization that was not eligi-12
ble to receive a covered loan the day 13
before the date of enactment of this 14
subclause, is assigned a North Amer-15
ican Industry Classification System 16
code of 519130, certifies in good faith 17
as an Internet-only news publisher or 18
Internet-only periodical publisher, and 19
is engaged in the collection and dis-20
tribution of local or regional and na-21
tional news and information, if the 22
business concern or organization— 23
‘‘(aa) employs not more 24
than 500 employees, or the size 25
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standard established by the Ad-1
ministrator for that North Amer-2
ican Industry Classification code, 3
per physical location of the busi-4
ness concern or organization; and 5
‘‘(bb) is majority owned or 6
controlled by a business concern 7
or organization that is assigned a 8
North American Industry Classi-9
fication System code of 10
519130.’’; 11
(C) in clause (v), by striking ‘‘clause 12
(iii)(II), (iv)(IV), or (vii)’’ and inserting ‘‘sub-13
clause (II), (III), or (IV) of clause (iii), sub-14
clause (IV) or (VI) of clause (iv), clause (vi), or 15
clause (vii)’’; and 16
(D) in clause (viii)(II)— 17
(i) by striking ‘‘business concern made 18
eligible by clause (iii)(II) or clause (iv)(IV) 19
of this subparagraph’’ and inserting ‘‘busi-20
ness concern made eligible by subclause 21
(II) or (IV) of clause (iii) or subclause (IV) 22
or (VI) of clause (iv) of this subpara-23
graph’’; and 24
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(ii) by inserting ‘‘or organization’’ 1
after ‘‘such business concern’’. 2
(2) ELIGIBILITY FOR SECOND DRAW LOANS.— 3
Section 7(a)(37)(A)(iv)(II) of the Small Business 4
Act, as amended by the Economic Aid to Hard-Hit 5
Small Businesses, Nonprofits, and Venues Act (title 6
III of division N of Public Law 116–260), is amend-7
ed by striking ‘‘clause (iii)(II), (iv)(IV), or (vii)’’ and 8
inserting ‘‘subclause (II) or (III) of clause (iii), sub-9
clause (IV) or (V) of clause (iv), clause (vi), or 10
clause (vii)’’. 11
(c) COORDINATION WITH CONTINUATION COVERAGE 12
PREMIUM ASSISTANCE.— 13
(1) PAYCHECK PROTECTION PROGRAM.—Sec-14
tion 7A(a)(12) of the Small Business Act (as redes-15
ignated, transferred, and amended by section 304(b) 16
of the Economic Aid to Hard-Hit Small Businesses, 17
Nonprofits, and Venues Act (Public Law 116–260)) 18
is amended— 19
(A) by striking ‘‘CARES Act or’’ and in-20
serting ‘‘CARES Act,’’; and 21
(B) by inserting before the period at the 22
end the following: ‘‘, or premiums taken into 23
account in determining the credit allowed under 24
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section 6432 of the Internal Revenue Code of 1
1986’’. 2
(2) PAYCHECK PROTECTION PROGRAM SECOND 3
DRAW.—Section 7(a)(37)(J)(iii)(I) of the Small 4
Business Act, as amended by the Economic Aid to 5
Hard-Hit Small Businesses, Nonprofits, and Venues 6
Act (title III of division N of Public Law 116–260), 7
is amended— 8
(A) by striking ‘‘or’’ at the end of item 9
(aa); 10
(B) by striking the period at the end of 11
item (bb) and inserting ‘‘; or’’; and 12
(C) by adding at the end the following new 13
item: 14
‘‘(cc) premiums taken into 15
account in determining the credit 16
allowed under section 6432 of the 17
Internal Revenue Code of 1986.’’. 18
(3) APPLICABILITY.—The amendments made 19
by this subsection shall apply only with respect to 20
applications for forgiveness of covered loans made 21
under paragraphs (36) or (37) of section 7(a) of the 22
Small Business Act, as amended by the Economic 23
Aid to Hard-Hit Small Businesses, Nonprofits, and 24
Venues Act (title III of division N of Public Law 25
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116–260), that are received on or after the date of 1
the enactment of this Act. 2
(d) COMMITMENT AUTHORITY AND APPROPRIA-3
TIONS.— 4
(1) COMMITMENT AUTHORITY.—Section 5
1102(b)(1) of the CARES Act (Public Law 116– 6
136) is amended by striking ‘‘$806,450,000,000’’ 7
and inserting ‘‘$813,700,000,000’’. 8
(2) DIRECT APPROPRIATIONS.—In addition to 9
amounts otherwise available, there is appropriated to 10
the Administrator of the Small Business Administra-11
tion for fiscal year 2021, out of any money in the 12
Treasury not otherwise appropriated, 13
$7,250,000,000, to remain available until expended, 14
for carrying out this section. 15
SEC. 6002. TARGETED EIDL ADVANCE. 16
(a) DEFINITIONS.—In this section— 17
(1) the term ‘‘Administrator’’ means the Ad-18
ministrator of the Small Business Administration; 19
(2) the terms ‘‘covered entity’’ and ‘‘economic 20
loss’’ have the meanings given the terms in section 21
331(a) of the Economic Aid to Hard-Hit Small 22
Businesses, Nonprofits, and Venues Act (title III of 23
division N of Public Law 116–260); 24
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(3) the term ‘‘severely impacted small business’’ 1
means a covered entity that— 2
(A) has suffered an economic loss of great-3
er than 50 percent; and 4
(B) employs not more than 10 employees; 5
(4) the term ‘‘substantially impacted small busi-6
ness’’ means a covered entity that— 7
(A) employs not more than 10 employees; 8
and 9
(B) is not a severely impacted small busi-10
ness; and 11
(5) the term ‘‘supplemental payment’’ means a 12
payment— 13
(A) made by the Administrator under sec-14
tion 1110(e) of the CARES Act (15 U.S.C. 15
9009(e)) to a severely impacted small business 16
or a substantially impacted small business; 17
(B) in an amount that is $5,000; and 18
(C) that, with respect to a covered entity, 19
is in addition to any payment made to the cov-20
ered entity under section 1110(e) of the 21
CARES Act (15 U.S.C. 9009(e)) or section 331 22
of the Economic Aid to Hard-Hit Small Busi-23
nesses, Nonprofits, and Venues Act (title III of 24
division N of Public Law 116–260). 25
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(b) PAYMENTS.—The Administrator shall take the 1
following actions: 2
(1) Not later than 14 days after the date of the 3
enactment of this subsection, the Administrator shall 4
begin processing applications for payments, and may 5
make payments, to covered entities that have not re-6
ceived the full amounts to which the covered entities 7
are entitled under section 331 of the Economic Aid 8
to Hard-Hit Small Businesses, Nonprofits, and 9
Venues Act (title III of division N of Public Law 10
116–260). 11
(2)(A) During the 14-day period beginning on 12
the date that is 28 days after the date of enactment 13
of this subsection, and subject to the availability of 14
funds, the Administrator shall— 15
(i) begin processing applications for sup-16
plemental payments to severely impacted small 17
businesses; and 18
(ii) continue to process applications for the 19
payments described in paragraph (1). 20
(B) During the period described in subpara-21
graph (A), the Administrator may make supple-22
mental payments to severely impacted small busi-23
nesses, and payments described in paragraph (1), in 24
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the order that the Administrator receives applica-1
tions for those payments. 2
(3)(A) Beginning on the date that is 42 days 3
after the date of enactment of this subsection, and 4
subject to the availability of funds, the Adminis-5
trator shall— 6
(i) begin processing applications for sup-7
plemental payments to substantially impacted 8
small businesses; and 9
(ii) continue to process applications for the 10
supplemental payments described in paragraph 11
(2) and payments described in paragraph (1). 12
(B) During the period described in subpara-13
graph (A), the Administrator may make supple-14
mental payments to substantially impacted small 15
businesses, supplemental payments described in 16
paragraph (2), and payments described in paragraph 17
(1), in the order that the Administrator receives ap-18
plications for those payments. 19
(c) APPROPRIATIONS.—In addition to amounts other-20
wise available, there is appropriated to the Administrator 21
for fiscal year 2021, out of any money in the Treasury 22
not otherwise appropriated, $15,000,000,000, to remain 23
available until expended, for carrying out this section. 24
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SEC. 6003. SUPPORT FOR RESTAURANTS. 1
(a) DEFINITIONS.—In this section: 2
(1) ADMINISTRATOR.—The term ‘‘Adminis-3
trator’’ means the Administrator of the Small Busi-4
ness Administration. 5
(2) AFFILIATED BUSINESS.—The term ‘‘affili-6
ated business’’ means a business in which an eligible 7
entity has an equity or right to profit distributions 8
of not less than 50 percent, or in which an eligible 9
entity has the contractual authority to control the 10
direction of the business, provided that such affili-11
ation shall be determined as of any arrangements or 12
agreements in existence as of March 13, 2020. 13
(3) COVERED PERIOD.—The term ‘‘covered pe-14
riod’’ means the period— 15
(A) beginning on February 15, 2020; and 16
(B) ending on December 31, 2021, or a 17
date to be determined by the Administrator 18
that is not later than 2 years after the date of 19