I 
116TH CONGRESS 
2D SESSION 
H. R. 6918 
To direct the Secretary of the Treasury to establish a grant program for 
employers adversely affected by COVID–19, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 19, 2020 
Ms. JAYAPAL (for herself, Ms. STEVENS, Mr. SCHIFF, Mr. CASTEN of Illinois, 
Mr. POCAN, Ms. PORTER, Ms. ESCOBAR, Ms. ADAMS, Ms. BASS, Mrs. 
BEATTY, Mr. BEYER, Mr. BLUMENAUER, Ms. BLUNT ROCHESTER, Ms. 
BONAMICI, Mr. BRENDAN F. BOYLE of Pennsylvania, Ms. BROWNLEY of 
California, Mr. CASTRO of Texas, Mr. CARSON of Indiana, Ms. JUDY 
CHU of California, Mr. CICILLINE, Ms. CLARK of Massachusetts, Ms. 
CLARKE of New York, Mr. CLEAVER, Mr. COHEN, Mr. CONNOLLY, Mr. 
DEFAZIO, Ms. DELAURO, Mrs. DINGELL, Mr. ESPAILLAT, Mr. EVANS, 
Ms. FUDGE, Mr. GARCI´A of Illinois, Ms. GARCIA of Texas, Mr. GRIJALVA, 
Ms. HAALAND, Mr. HASTINGS, Mrs. HAYES, Mr. HECK, Mr. HORSFORD, 
Ms. JACKSON LEE, Mr. JEFFRIES, Mr. JOHNSON of Georgia, Mr. KEN-
NEDY, Mr. LARSON of Connecticut, Ms. LEE of California, Mr. LEVIN of 
Michigan, Mr. LEVIN of California, Mr. TED LIEU of California, Mr. 
LOWENTHAL, Mr. MALINOWSKI, Mrs. CAROLYN B. MALONEY of New 
York, Mr. MCGOVERN, Ms. MENG, Mr. MORELLE, Mr. NADLER, Mrs. 
NAPOLITANO, Mr. NEGUSE, Ms. NORTON, Ms. OCASIO-CORTEZ, Ms. 
OMAR, Mr. PALLONE, Ms. PINGREE, Ms. PRESSLEY, Mr. RASKIN, Mr. 
RICHMOND, Ms. ROYBAL-ALLARD, Mr. RUSH, Mr. SARBANES, Ms. SCAN-
LON, Ms. SCHAKOWSKY, Ms. SCHRIER, Ms. SHALALA, Mr. SMITH of 
Washington, Mr. SOTO, Ms. SPEIER, Mr. SUOZZI, Ms. TLAIB, Mrs. 
TRAHAN, Mr. VARGAS, Mr. VELA, Ms. VELA´ZQUEZ, Mrs. WATSON COLE-
MAN, Mr. WELCH, Mr. KHANNA, Ms. BARRAGA´N, Mr. BUTTERFIELD, Mr. 
CLYBURN, Ms. SHERRILL, Mr. SERRANO, Mr. GONZALEZ of Texas, Mr. 
RYAN, Mr. GALLEGO, and Mrs. KIRKPATRICK) introduced the following 
bill; which was referred to the Committee on Financial Services, and in 
addition to the Committees on the Judiciary, and Energy and Commerce, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of the 
committee concerned 
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A BILL 
To direct the Secretary of the Treasury to establish a grant 
program for employers adversely 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; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Paycheck Recovery Act of 2020’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Paycheck recovery program. 
Sec. 3. Conditions in general. 
Sec. 4. Conditions relating to labor protections. 
Sec. 5. Application of bankruptcy provisions. 
Sec. 6. Rehiring bonus and Pandemic Unemployment Compensation. 
Sec. 7. Audits and penalties. 
Sec. 8. Paycheck Recovery Program Implementation Oversight Board. 
Sec. 9. Severability. 
Sec. 10. Definitions. 
SEC. 2. PAYCHECK RECOVERY PROGRAM. 
(a) PROGRAM AUTHORIZED.—The Secretary of the 
Treasury (in this Act referred to as the ‘‘Secretary’’) shall 
establish a grant program (in this Act referred to as the 
‘‘Program’’) to award grants to carry out the activities 
described in subsection (f). 
(b) ELIGIBILITY.— 
(1) LOSS
OF
REVENUE
AND
SMALL
BUSI-
NESSES.— 
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(A) LOSS OF REVENUE ELIGIBILITY.—The 
Secretary shall award a grant under the Pro-
gram to an employer that submits an applica-
tion under subsection (c) and has experienced, 
or anticipates experiencing, a loss of revenue as 
a result of the coronavirus disease 2019 
(COVID–19)— 
(i) for an employer that is not a new 
employer, in an amount that is at least 10 
percent of the gross receipts of the em-
ployer for the corresponding 2019 period 
that relates to the calendar quarter in 
which the employer submits such applica-
tion; or 
(ii) for a new employer, in an amount 
that is at least 10 percent of the gross re-
ceipts of the new employer for the period 
for which the new employer most recently 
filed employment tax information with the 
Secretary. 
(B) SMALL
BUSINESS
ELIGIBILITY.—Re-
gardless of whether the employer meets the re-
quirements of subparagraph (A), the Secretary 
shall award a grant under the Program to an 
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employer that submits an application under 
subsection (c) if— 
(i) the employer employed 20 or fewer 
employees on March 1, 2020; and 
(ii) the annual gross receipts of such 
employer for 2019 is an amount less than 
$3,000,000 or, in the case of a new em-
ployer, the projected annual gross receipts 
of such new employer (calculated by deter-
mining the median amount of gross re-
ceipts for the months for which the new 
employer has been in existence and multi-
plying the amount by 12) is an amount 
less than $3,000,000. 
(2) INTERACTION WITH OTHER PROGRAMS.— 
(A) IN GENERAL.—An employer is not eli-
gible to receive a grant under the Program if 
the employer is simultaneously receiving assist-
ance under— 
(i) an employee retention tax credit 
pursuant to section 2301 of the CARES 
Act (Public Law 116–136); 
(ii) the Exchange Stabilization Fund 
established under section 5302 of title 31, 
United States Code; 
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(iii) a covered loan under section 
7(a)(36) of the Small Business Act (15 
U.S.C. 636(a)(36)); or 
(iv) a Main Street Lending Program 
of the Federal Reserve System. 
(B) CONVERSION
OF
ASSISTANCE
FROM 
OTHER PROGRAMS.—The Secretary shall take 
such steps as are necessary to establish a proc-
ess by which an employer who has received as-
sistance under a program specified in subpara-
graph (A) may convert such assistance into a 
grant under the Program. 
(3) STAY-AT-HOME ORDERS.—The existence or 
nonexistence of a stay-at-home order issued as a re-
sult of COVID–19 by the government of the State 
or locality in which an employer operates shall have 
no effect on the eligibility of the employer under the 
Program. 
(c) APPLICATIONS.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), to receive a grant under the Program, an 
eligible employer shall submit to the Secretary an 
application in such form, at such time, and con-
taining such information the Secretary determines 
appropriate, which shall include at a minimum a 
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sworn declaration attesting to any loss of revenue 
experienced, or anticipated to be experienced, by the 
employer as a result of COVID–19. 
(2) SMALL BUSINESSES.— 
(A) APPLICATION.—The Secretary shall 
not require an employer that is eligible under 
subsection (b)(1)(B) to include in an applica-
tion for a grant under the Program a sworn 
declaration attesting to any loss of revenue ex-
perienced, or anticipated to be experienced, by 
the employer as a result of COVID-19. 
(B) OUTREACH
AND
TECHNICAL
ASSIST-
ANCE.—The Secretary shall conduct outreach 
and provide technical assistance to small busi-
nesses to assist eligible small businesses in ap-
plying for grants under the Program. 
(d) AMOUNT OF GRANT.— 
(1) INITIAL GRANT.—Under the Program, the 
Secretary shall provide to an eligible employer an 
initial grant in an amount that is equal to the sum 
of— 
(A) except as provided in paragraph (3) 
and subject to paragraph (4)— 
(i) for an employer that is not a new 
employer, an amount calculated by multi-
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plying the percentage of experienced or an-
ticipated loss of revenue attested to in sub-
section (c) by the amount of wages pro-
vided by the employer to any covered em-
ployees or covered former employees during 
the corresponding 2019 period that relates 
to the period— 
(I) beginning on the date that is 
the later of March 1, 2020, or the 
date on which the employer became el-
igible under subsection (b); and 
(II) ending on the date that is 90 
days after the date on which the Sec-
retary provides the initial grant; or 
(ii) for a new employer, an amount 
calculated by multiplying the percentage of 
experienced or anticipated loss of revenue 
attested to in subsection (c) by an amount 
determined by the Secretary based on the 
employment tax information statement 
filed with the Secretary by the new em-
ployer for the most recent month; and 
(B) the amount that is 25 percent of the 
amount of wages provided by the employer to 
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any covered employees or covered former em-
ployees during— 
(i) for an employer that is not a new 
employer, the corresponding 2019 period 
specified in subparagraph (A)(i); or 
(ii) for a new employer, the most re-
cent month for which the new employer 
filed an employment tax information state-
ment with the Secretary. 
(2) SUBSEQUENT GRANTS.—With respect to the 
first full month beginning 90 days after the date on 
which the Secretary provides to an eligible employer 
an initial grant under paragraph (1), and each 
month thereafter until the date on which the Sec-
retary terminates the program, the Secretary shall 
provide to such employer a grant in an amount that 
is equal to the sum of— 
(A) except as provided in paragraph (3) 
and subject to paragraph (4)— 
(i) for an employer that is not a new 
employer, an amount calculated by multi-
plying the percentage of experienced or an-
ticipated loss of revenue attested to in sub-
section (c) by the amount of wages pro-
vided by the employer to covered employees 
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and covered former employees during the 
corresponding 2019 period that relates to 
such month; or 
(ii) for a new employer, an amount 
calculated by multiplying the percentage of 
experienced or anticipated loss of revenue 
attested to in subsection (c) by an amount 
determined by the Secretary based on the 
employment tax information statement 
filed with the Secretary by the new em-
ployer for the most recent month; and 
(B) the amount that is 25 percent of the 
amount of the amount of wages provided by the 
employer to any covered employees or covered 
former employees during— 
(i) for an employer that is not a new 
employer, the corresponding 2019 period 
that relates to such month; or 
(ii) for a new employer, the most re-
cent month for which the new employer 
filed an employment tax information state-
ment with the Secretary. 
(3) SMALL BUSINESS AMOUNTS.—In calculating 
the amount of an initial or subsequent grant under 
the Program for an employer that was determined 
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eligible under subsection (b)(1)(B), the Secretary 
shall add— 
(A) subject to paragraph (4), the amount 
of wages provided by the employer to any cov-
ered employees or covered former employees 
during the period specified in paragraph (1), 
for an initial grant, or paragraph (2), for a sub-
sequent grant; and 
(B) the amount that is 25 percent of the 
amount of wages provided by the employer to 
any covered employees or covered former em-
ployees during such period. 
(4) SALARY
LIMITATION.—The amount of 
wages (excluding any benefits) provided by an em-
ployer to any covered employee or covered former 
employee of the employer which may be taken into 
account to determine a grant amount under this 
subsection shall not exceed $90,000 in annual salary 
(excluding any benefits) per employee. 
(5) REGULATIONS.—The Secretary may pro-
mulgate regulations on the formula for determining 
grant amounts pursuant to this subsection. 
(e) CONDITION ON ACCEPTANCE OF FUNDS.—Before 
accepting grant funds awarded under the Program, an em-
ployer shall enter into an agreement with the Secretary, 
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or otherwise certify, as determined appropriate by the Sec-
retary, that the employer shall comply with each condition 
required under this section and sections 3 and 4. 
(f) USE OF FUNDS.—Grant funds awarded under the 
Program may only be used as follows: 
(1) Grant funds in amounts determined under 
paragraphs (1)(A), (2)(A), or (3)(A) of subsection 
(d) may be used to pay any covered employees or 
covered former employees the amount of wages (sub-
ject to the salary limitation in subsection (d)(4)) 
provided by the employer to such employees— 
(A) for an employer that is not a new em-
ployer, during the corresponding 2019 period 
(adjusted, in the case of amounts determined 
under paragraphs (1)(A) or (2)(A), for the per-
centage of experienced or anticipated loss of 
revenue attested to in subsection (c)); or 
(B) for a new employer, during the cor-
responding period for which the employer most 
recently filed with the Secretary an employment 
tax information statement (adjusted, in the case 
of amounts determined under paragraphs 
(1)(A) or (2)(A), for the percentage of experi-
enced or anticipated loss of revenue attested to 
in subsection (c)). 
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(2) Grant funds in amounts determined under 
paragraphs (1)(B), (2)(B), or (3)(B) of subsection 
(d) may be used to pay fixed expenses of the em-
ployer, including expenses relating to rent, utilities, 
mortgage payments, costs associated with vehicles or 
equipment, and costs necessary to protect against or 
minimize the effects of COVID-19, including the 
cost of safety equipment. 
(g) REPAYMENT OF FUNDS.—If a covered employee 
or covered former employee of an employer receiving a 
grant under the Program quits or is terminated for cause 
during a month for which the employer receives grant 
funds, the employer shall be required to repay to the De-
partment of Treasury, on a no-interest basis and by the 
date that is not later than two years after the date on 
which such employee quits or is terminated, the pro rata 
grant amount received with respect to the wages of such 
employee. 
(h) TERMINATION.— 
(1) IN GENERAL.—The Secretary shall termi-
nate the Program on the date on which the season-
ally adjusted unemployment rate has remained below 
seven percent, as measured by the Bureau of Labor 
Statistics, for three consecutive months. 
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(2) NOTICE
OF
POTENTIAL
TERMINATION.— 
The Secretary shall publish in the Federal Register 
notice of potential termination of the Program on 
any date on which the seasonally adjusted unemploy-
ment rate has remained below seven percent, as 
measured by the Bureau of Labor Statistics, for two 
consecutive months. 
SEC. 3. CONDITIONS IN GENERAL. 
(a) SHARE REPURCHASES.—An employer receiving a 
grant under the Program may not purchase an equity in-
terest of the employer on a national securities exchange. 
(b) PAYMENTS
TO
SHAREHOLDERS
OR
BOND-
HOLDERS.—An employer receiving a grant under the Pro-
gram may not use grant funds awarded under the Pro-
gram to make any distribution of funds, including stock 
dividends, to shareholders or bondholders of the employer. 
(c) EXECUTIVE BONUSES.—An employer receiving a 
grant under the Program may not award an executive 
bonus to an employee of the employer during the period 
beginning on the date on which the employer receives an 
initial grant under the Program and ending on the date 
on which the Secretary terminates the Program. 
(d) EXECUTIVE COMPENSATION.—If an employer re-
ceiving a grant under the Program employs a chief execu-
tive officer, during the period beginning on the date on 
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which the employer receives an initial grant under the Pro-
gram and ending on the date on which the Secretary ter-
minates the Program, the employer may not provide to 
the chief executive officer— 
(1) annual wages in excess of the amount that 
is— 
(A) for an employer that is not a new em-
ployer, 50 times the median of the wages pro-
vided by the employer to employees of the em-
ployer in 2019; or 
(B) for a new employer, 50 times the an-
nual median of wages provided by the employer 
to employees of the employer (calculated by de-
termining the median amount of monthly wages 
paid during the months for which the new em-
ployer has been in existence and multiplying the 
amount by 12); and 
(2) in the case of termination of employment 
with the employer, severance pay or other benefits 
relating to the termination in excess of twice the 
amount of— 
(A) for an employer that is not a new em-
ployer, wages provided by the employer to the 
chief executive officer in 2019; or 
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(B) for a new employer, the projected an-
nual median of wages provided by the employer 
to the chief executive officer (calculated by de-
termining the median amount of monthly wages 
paid during the months for which the new em-
ployer has been in existence and multiplying the 
amount by 12). 
SEC. 4. CONDITIONS RELATING TO LABOR PROTECTIONS. 
(a) MAINTENANCE
OF WORKFORCE; COLLECTIVE 
BARGAINING.—During the period beginning on the date 
on which an employer receives an initial grant under the 
Program and ending on the date that is 90 days after the 
date on which the Secretary terminates the Program— 
(1) the employer shall make a good-faith effort 
to rehire and maintain covered former employees 
who were employed by the employer on or prior to 
March 1, 2020; 
(2) the employer shall compensate the covered 
former employees rehired and maintained under 
paragraph (1) at a level that is not less than the 
level of wages received by the covered former em-
ployees prior to March 1, 2020; 
(3) the employer may not abrogate any collec-
tive bargaining agreement entered into by the em-
ployer and the authorized representatives of the em-
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ployees of the employer and in force on March 1, 
2020; 
(4) the employer shall remain neutral in any 
union organizing effort; and 
(5) the employer shall refrain from conducting 
involuntary furloughs or reducing pay rates of the 
employees of the employer. 
(b) WORKING AND TRAVEL CONDITIONS.—For the 
duration of the national emergency declared by the Presi-
dent under the National Emergencies Act (50 U.S.C. 
1601 et seq.) with respect to COVID–19, an employer re-
ceiving a grant under the Program shall adhere to guid-
ance published by the Director of the Centers for Disease 
Control and Prevention and all applicable public health 
authorities for providing safe conditions for employees, in-
cluding by providing employees with adequate personal 
protective equipment and ensuring all facilities owned or 
operated by the employer are clean and sanitary. 
SEC. 5. APPLICATION OF BANKRUPTCY PROVISIONS. 
In the case of an employer receiving a grant under 
the Program that is a debtor under title 11 of the United 
States Code, S.2518 (115th Cong.) shall be deemed to be 
enacted. 
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SEC. 6. REHIRING BONUS AND PANDEMIC UNEMPLOYMENT 
COMPENSATION. 
(a) REHIRING BONUS.—The Secretary may award to 
any covered former employee of an employer receiving a 
grant under the Program a rehiring bonus in the amount 
of $1,500 if the covered former employee— 
(1) has been rehired or has otherwise returned 
to employment with the employer with the assistance 
of such grant; and 
(2) earned less than $40,000 in wages in 2019. 
(b) DISREGARD OF ADDITIONAL COMPENSATION FOR 
PURPOSES
OF MEDICAID
AND CHIP.—The monthly 
equivalent of any rehiring bonus paid to a covered former 
employee under subsection (a) shall be disregarded when 
determining income for any purpose under the programs 
established under titles XIX and title XXI of the Social 
Security Act (42 U.S.C. 1396 et seq., 1397aa et seq.). 
(c) ADDITIONAL REHIRING BONUS.—If the Pan-
demic Unemployment Compensation program established 
under the Relief for Workers Affected by Coronavirus Act 
(title II of division A of Public Law 116–136) continues 
after July 31, 2020, a covered former employee that re-
ceived a rehiring bonus under subsection (a) shall be eligi-
ble for a $1,200 monthly stimulus check for every month 
that the Pandemic Unemployment Compensation program 
is extended. 
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SEC. 7. AUDITS AND PENALTIES. 
(a) AUDITS.—Not later than one year after a grant 
is awarded under the Program, the Inspector General of 
the Department of Treasury (in this section referred to 
as the ‘‘Inspector General’’) shall audit the grant recipient 
to determine— 
(1) the amount of loss of revenue the grant re-
cipient experienced as a result of COVID–19; and 
(2) whether any instance of overpayment oc-
curred with respect to the grant. 
(b) LOSS OF REVENUE.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), a grant recipient under the Program shall 
be required to repay to the Department of Treasury 
(on a no-interest basis and by a date determined by 
the Secretary that is not later than five years after 
the date on which the Secretary terminates the Pro-
gram) the total amount of grant funds received 
under the Program if, as a result of an audit con-
ducted under subsection (a), the Inspector General 
determines— 
(A) in the case of a grant recipient that is 
not a new employer, that the grant recipient did 
not experience a decline in gross receipts, dur-
ing a calendar year after receiving the grant, in 
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an amount that was at least 10 percent of the 
gross receipts of the employer for 2019; or 
(B) in the case of a grant recipient that is 
a new employer, that the grant recipient did not 
experience a decline in gross receipts, during a 
period that corresponds with the period for 
which the new employer had most recently filed 
employment tax information with the Secretary 
prior to submitting the grant application under 
section 2(c), in an amount that was at least 10 
percent of the gross receipts of the new em-
ployer for such period. 
(2) SMALL BUSINESS EXCEPTION.—A grant re-
cipient that was determined eligible for a grant 
under the Program pursuant to section 2(b)(1)(B) 
shall not be subject to this subsection. 
(c) OVERPAYMENT PENALTIES.— 
(1) FRAUDULENT OVERPAYMENT.—If, as a re-
sult of an audit conducted under subsection (a), the 
Inspector General determines that an individual 
knowingly has made, or caused to be made by an-
other, a false statement or representation of a mate-
rial fact, or knowingly has failed, or caused another 
to fail, to disclose a material fact, and as a result 
of such false statement or representation or of such 
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non-disclosure the individual has received an amount 
under the Program to which the individual was not 
entitled— 
(A) the Inspector General shall notify the 
individual of such determination; and 
(B) the individual— 
(i) shall be ineligible for subsequent 
grants under the Program; and 
(ii) shall be required to repay to the 
Department of Treasury the amount to 
which the individual was not entitled by a 
date determined by the Secretary that is 
not later than two years after the date on 
which the Secretary terminates the Pro-
gram. 
(2) NON-FRAUDULENT OVERPAYMENT.—If, as 
a result of an audit conducted under subsection (a), 
the Inspector General determines that an individual 
has received an amount under the Program to which 
the individual was not entitled as the result of an ac-
tion that is not specified in paragraph (1)— 
(A) the Inspector General shall notify the 
individual of such determination; and 
(B) the individual shall be required to 
repay to the Department of Treasury, on a no- 
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interest basis, the amount to which the indi-
vidual was not entitled by the date that is not 
later than two years after the date on which the 
Inspector General notified the individual under 
subparagraph (A). 
SEC. 8. PAYCHECK RECOVERY PROGRAM IMPLEMENTA-
TION OVERSIGHT BOARD. 
(a) ESTABLISHMENT.—There is established in the 
legislative branch a Congressional Paycheck Recovery Pro-
gram Implementation Oversight Board (in this section re-
ferred to as the ‘‘Oversight Board’’). 
(b) DUTIES.—The duties of the Oversight Board 
shall be to conduct oversight to ensure that an employer 
receiving a grant under the Program uses the grant funds 
in accordance with section (2)(f) and complies with the 
conditions agreed to under section (2)(e). 
(c) MEMBERSHIP.— 
(1) NUMBER AND APPOINTMENT.—The Over-
sight Board shall be composed of 12 members ap-
pointed by the Speaker of the House of Representa-
tives and the majority leader of the Senate as fol-
lows: 
(A) Four members of Congress appointed 
upon the recommendation of the minority lead-
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ers of the House of Representatives and the 
Senate. 
(B) Four representatives from the private 
sector, including labor unions and management 
representatives. 
(C) Four representatives from State or 
local government. 
(2) CHAIRPERSON.—The chairperson of the 
Oversight Board shall be a member of the Oversight 
Board designated by the Speaker of the House of 
Representatives and the majority leader of the Sen-
ate. 
(3) VICE CHAIRPERSON.—The vice chairperson 
of the Oversight Board shall be a member of the 
Oversight Board designated by the Speaker of the 
House of Representatives and the majority leader of 
the Senate upon the recommendation of the minority 
leaders of the House of Representatives and the 
Senate. 
(4) VACANCIES.—A vacancy in the Oversight 
Board shall be filled in the same manner in which 
the original appointment was made. 
(d) ADDITIONAL AUTHORITIES.— 
(1) SUBPOENA.—The Oversight Board may 
issue subpoenas requiring the attendance and testi-
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mony of witnesses and the production of any evi-
dence relating to any matter the Oversight Board is 
empowered to investigate under subsection (b). The 
attendance of witnesses and the production of evi-
dence may be required from any place within the 
United States at any designated place of hearing 
within the United States. 
(2) OBTAINING
OFFICIAL
DATA.—The Over-
sight Board may secure directly from the Internal 
Revenue Service information necessary to enable it 
to carry out this section. Upon request of the Chair-
person of the Oversight Board, the Commissioner of 
Internal Revenue shall furnish such information to 
the Oversight Board. 
(e) TERMINATION.—The Oversight Board, and its 
authorities under this section, shall terminate on the expi-
ration of the 15-day period beginning on the date on which 
the Secretary terminates the Program. 
SEC. 9. SEVERABILITY. 
If any provision of this Act (or the application of such 
provision to any person or circumstance) is held invalid, 
the remainder of this Act (or the application of such provi-
sion to other persons or circumstances) shall not be af-
fected. 
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SEC. 10. DEFINITIONS. 
In this Act: 
(1) AUTHORIZED REPRESENTATIVE.—The term 
‘‘authorized representative’’ means an exclusive rep-
resentative of employees, designated and authorized 
by the employees without interference, influence, or 
coercion by an employer of such employees. 
(2) CORRESPONDING 2019 PERIOD.—The term 
‘‘corresponding 2019 period’’ means, with respect to 
a month or period of months, that same month or 
period of months in 2019. 
(3) COVERED EMPLOYEE.—The term ‘‘covered 
employee’’ means an individual— 
(A) employed by a grant recipient under 
the Program on a full time, part-time, or other 
basis; and 
(B) who is not receiving unemployment 
compensation, Pandemic Unemployment Com-
pensation under section 2104 of the CARES 
Act (Public Law 116–136), or any other unem-
ployment benefit while receiving funds under 
the Program. 
(4) COVERED FORMER EMPLOYEE.—The term 
‘‘covered former employee’’ means an individual— 
(A) previously employed by a grant recipi-
ent under the Program; 
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(B) who has been furloughed or laid off by 
the grant recipient as a result of COVID–19; 
and 
(C) who is not receiving unemployment 
compensation, Pandemic Unemployment Com-
pensation under section 2104 of the CARES 
Act (Public Law 116–136), or any other unem-
ployment benefit while receiving funds under 
the Program. 
(5) ELIGIBLE SELF-EMPLOYED INDIVIDUAL.— 
The term ‘‘eligible self-employed individual’’ has the 
meaning given the term in section 7002(b) of the 
Families First Coronavirus Response Act (Public 
Law 116–127). 
(6) EMPLOYER.—The term ‘‘employer’’— 
(A) has the meaning given such term in 
section 3401 of the Internal Revenue Code of 
1986 (26 U.S.C. 3401); and 
(B) includes an eligible self-employed indi-
vidual. 
(7) EXCHANGE.—The term ‘‘exchange’’ has the 
meaning given the term in section 3 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78c). 
(8) NATIONAL
SECURITIES
EXCHANGE.—The 
term ‘‘national securities exchange’’ means an ex-
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change registered under section 6 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78f). 
(9) NEW
EMPLOYER.—The term ‘‘new em-
ployer’’ means an employer (including any prede-
cessor) that was not in existence for any taxable 
year ending before January 1, 2020. 
(10) STATE.—The term ‘‘State’’ means each of 
the several States, the District of Columbia, Amer-
ican Samoa, Guam, the Commonwealth of the 
Northern Mariana Islands, the Commonwealth of 
Puerto Rico, the Virgin Islands of the United States, 
and any other territory or possession of the United 
States. 
(11) UNEMPLOYMENT
COMPENSATION.—The 
term ‘‘unemployment compensation’’ has the mean-
ing given such term in section 85 of the Internal 
Revenue Code of 1986 (26 U.S.C. 85). 
(12) WAGES.—The terms ‘‘wages’’— 
(A) has the meaning given such term in 
section 3121 of the Internal Revenue Code of 
1986 (26 U.S.C. 3121); and 
(B) includes any healthcare benefits pro-
vided by an employer. 
Æ 
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