I 
116TH CONGRESS 
2D SESSION 
H. R. 7481 
To establish a loan program for businesses affected by COVID–19, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 2, 2020 
Mr. GOLDEN (for himself and Mr. KELLY of Pennsylvania) introduced the fol-
lowing bill; which was referred to the Committee on Small Business, and 
in addition to the Committee on Ways and Means, for a period to be sub-
sequently determined by the Speaker, in each case for consideration of 
such provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To establish a loan program for businesses affected by 
COVID–19, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Reviving the Economy 
Sustainably Towards A Recovery in Twenty-twenty Act’’ 
or the ‘‘RESTART Act’’. 
SEC. 2. RESTART LOAN PROGRAM. 
(a) DEFINITIONS.—In this section: 
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(1) ADMINISTRATION; ADMINISTRATOR.—The 
terms ‘‘Administration’’ and ‘‘Administrator’’ mean 
the Small Business Administration and the Adminis-
trator thereof, respectively. 
(2) COMMUNITY DEVELOPMENT FINANCIAL IN-
STITUTION.—The term ‘‘community development fi-
nancial institution’’ has the meaning given the term 
in section 103 of the Riegle Community Develop-
ment and Regulatory Improvement Act of 1994 (12 
U.S.C. 4702). 
(3) COMPARABLE PERIOD.— 
(A) DEFINITION.—The term ‘‘comparable 
period’’ means a period that— 
(i) begins on the date that is 1 year 
or 2 years earlier than the beginning of a 
covered period; and 
(ii) may be adjusted to begin at the 
beginning of a pay period that is imme-
diately before or immediately after the date 
described in clause (i). 
(B) HOLIDAYS.—If a holiday occurs dur-
ing the covered period or the period described 
in subparagraph (A)(i), the holiday shall be in-
cluded as part of both periods. 
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(4) COVERED LOAN.—The term ‘‘covered loan’’ 
means a loan made under this section during the 
covered period. 
(5) COVERED PERIOD.—The term ‘‘covered pe-
riod’’ means— 
(A) except as provided in subparagraph 
(B), and as determined by the eligible recipient 
of a covered loan, the 6-month period beginning 
on— 
(i) the date of the origination of the 
covered loan; 
(ii) the first day of the next scheduled 
pay period following the date of the origi-
nation of the covered loan; 
(iii) the first day of the first full 
month following the date of the origination 
of the covered loan; or 
(iv) April 15, 2020; or 
(B) with respect to an eligible recipient of 
a covered loan that suffered a decline in gross 
receipts of more than 80 percent in 2020 as 
compared to 2019 or in the 6-month period be-
ginning on the date of the origination of the 
covered loan as compared to a comparable pe-
riod, and as determined by the eligible recipient 
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of a covered loan, the 12-month period begin-
ning on— 
(i) the date of the origination of the 
covered loan; 
(ii) the first day of the next scheduled 
pay period following the date of the origi-
nation of the covered loan; 
(iii) the first day of the first full 
month following the date of the origination 
of the covered loan; or 
(iv) April 15, 2020. 
(6) ELIGIBLE RECIPIENT.—The term ‘‘eligible 
recipient’’— 
(A) means an individual or entity that— 
(i) is eligible to receive a loan made 
under section 7(a)(36) of the Small Busi-
ness Act (15 U.S.C. 636(a)(36)); or 
(ii) as of February 15, 2020, has not 
more than 5,000 full-time employees; 
(B) includes— 
(i) a nonprofit organization that— 
(I) as of February 15, 2020, has 
not more than 5,000 full-time employ-
ees; and 
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(II) is not more than 50 percent 
owned or controlled by a State, local, 
or Tribal government; 
(ii) a business concern that— 
(I) deals in rare coins and 
stamps; and 
(II) as of February 15, 2020, has 
not more than 5,000 full-time employ-
ees; and 
(iii) a business concern that leases or 
finances equipment to other businesses, if 
the business concern— 
(I) as of February 15, 2020, has 
not more than 5,000 full-time employ-
ees; and 
(II) is not— 
(aa) a mortgage lender; or 
(bb) a lender participating 
in the loan program under sec-
tion 7(a)(36) of the Small Busi-
ness Act (15 U.S.C. 636(a)(36)). 
(7) MINORITY DEPOSITORY INSTITUTION.—The 
term ‘‘minority depository institution’’ has the 
meaning given the term in section 308 of the Finan-
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cial Institutions Reform, Recovery, and Enforcement 
Act of 1989 (12 U.S.C. 1463 note). 
(8) NONPROFIT
ORGANIZATION.—The term 
‘‘nonprofit organization’’ means an entity described 
in paragraph (3), (5), (6), (7) (related to housing), 
(12), (13), or (19) of section 501(c) of the Internal 
Revenue Code and that is exempt from taxation 
under section 501(a) of such Code. 
(9) 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)), except that such costs shall not in-
clude— 
(A) qualified wages taken into account in 
determining the credit allowed under section 
2301(g) of the CARES Act (Public Law 116– 
136); or 
(B) any payments made to an independent 
contractor. 
(10) 
SECRETARY.—The 
term 
‘‘Secretary’’ 
means the Secretary of the Treasury. 
(11) UNDERSERVED
BORROWER.—The term 
‘‘underserved borrower’’ means any business concern 
that has traditionally had difficulty accessing fi-
nance, including— 
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