I 
116TH CONGRESS 
2D SESSION 
H. R. 7562 
To amend the Internal Revenue Code of 1986 to provide for youth sports, 
to amend the Small Business Act to establish a loan program for youth 
sports providers, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 9, 2020 
Mr. ROSE of New York (for himself, Mr. FITZPATRICK, Mr. GOTTHEIMER, 
Mr. CISNEROS, Ms. CLARKE of New York, Mrs. DAVIS of California, Ms. 
NORTON, Mr. GONZALEZ of Texas, Mr. MICHAEL F. DOYLE of Pennsyl-
vania, Ms. SCANLON, Mr. VEASEY, Mr. RASKIN, Ms. SCHAKOWSKY, and 
Ms. SEWELL of Alabama) introduced the following bill; which was re-
ferred to the Committee on Ways and Means, and in addition to the 
Committee on Small Business, 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 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
for youth sports, to amend the Small Business Act to 
establish a loan program for youth sports providers, 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 ‘‘COVID–19 Youth 
Sports and Healthy Working Families Relief Act’’. 
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SEC. 2. MODIFICATION OF CHILD AND DEPENDENT CARE 
TAX CREDIT. 
(a) ALLOWANCE OF EXPENSES FOR YOUTH PHYS-
ICAL ACTIVITIES.—Section 21(b)(2)(A) of the Internal 
Revenue Code of 1986 is amended by striking ‘‘and’’ at 
the end of clause (i), by striking the period at the end 
of clause (ii) and inserting ‘‘, and’’, and by inserting after 
clause (ii) the following: 
‘‘(iii) expenses for youth physical ac-
tivities (within the meaning of section 
223(d)(5)).’’. 
(b) 
EXCEPTION
TO
CAMP
RULE.—Section 
21(b)(2)(A) of such Code (as amended by subsection (a)) 
is amended by striking ‘‘Such term’’ and inserting ‘‘Ex-
cept as provided by clause (iii), such term’’. 
(c) DOLLAR LIMITATIONS.—Section 221(c) of such 
Code is amended to read as follows: 
‘‘(c) DOLLAR LIMIT ON AMOUNT CREDITABLE.—The 
amount of the employment-related expenses incurred dur-
ing any taxable year which may be taken into account 
under subsection (a) shall not exceed— 
‘‘(1) if there is 1 qualifying individual with re-
spect to the taxpayer for such taxable year, the sum 
of— 
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‘‘(A) $3,000 of so much of employment-re-
lated expenses as are described in clauses (i) 
and (ii) of subsection (b)(2)(A), and 
‘‘(B) $6,000 of so much of employment-re-
lated expenses as are described in clause (iii) of 
subsection (b)(2)(A), or 
‘‘(2) if there are 2 or more qualifying individ-
uals with respect to the taxpayer for such taxable 
year, the sum of— 
‘‘(A) $6,000 of so much of employment-re-
lated expenses as are described in clauses (i) 
and (ii) of subsection (b)(2)(A), and 
‘‘(B) $12,000 of so much of employment- 
related expenses as are described in clause (iii) 
of subsection (b)(2)(A). 
The amounts determined under subparagraphs (A) and 
(B) of paragraph (1) or (2) (whichever is applicable) shall 
each be reduced by the aggregate amount for the same 
categories of expenses excludable from gross income under 
section 129 for the taxable year.’’. 
(d) REFUNDABLE.—Section 21(e) of such Code is 
amended by adding at the end the following: 
‘‘(11) CREDIT REFUNDABLE FOR 2020.—In the 
case of a taxable year beginning in calendar year 
2020, the credit allowed under subsection (a) (deter-
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mined without regard to this paragraph and section 
26(a)) shall be treated as a credit allowable under 
subpart C (and not allowed under subsection (a)).’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 3. INCREASE IN DOLLAR AMOUNT OF ELECTION FOR 
DEPENDENT CARE FLEXIBLE SPENDING AR-
RANGEMENTS. 
(a) IN GENERAL.—Section 125 of the Internal Rev-
enue Code of 1986 is amended by redesignating sub-
sections (k) and (l) as subsections (l) and (m) and insert-
ing after subsection (j) the following: 
‘‘(k) LIMITATION ON DEPENDENT CARE FLEXIBLE 
SPENDING ARRANGEMENTS.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, if a benefit is provided under a cafeteria plan 
through employer contributions to a dependent care 
flexible spending arrangement, such benefit shall not 
be treated as a qualified benefit unless the cafeteria 
plan provides that an employee may not elect for 
any taxable year to have salary reduction contribu-
tions in excess of $10,000 made to such arrange-
ment for each dependent under such arrangement. 
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‘‘(2) SINGLE PARENT.—In the case that the 
employee is an individual who is not married as of 
the beginning of the taxable year for which the em-
ployee elects to participate in the arrangement, 
paragraph (1) shall be applied by substituting 
‘$12,000’ for ‘$10,000’.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 4. YOUTH AND FAMILY PHYSICAL ACTIVITIES. 
(a) IN GENERAL.—Paragraph (1) of section 213(d) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘or’’ at the end of subparagraph (C), by striking the 
period at the end of subparagraph (D) and inserting ‘‘, 
or’’, and by inserting after subparagraph (D) the following 
new subparagraph: 
‘‘(E) for qualified sports and fitness ex-
penses.’’. 
(b) QUALIFIED SPORTS AND FITNESS EXPENSES.— 
Subsection (d) of section 213 of the Internal Revenue 
Code of 1986 is amended by adding at the end the fol-
lowing new paragraph: 
‘‘(12) QUALIFIED
SPORTS
AND
FITNESS
EX-
PENSES.— 
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‘‘(A) IN
GENERAL.—The term ‘qualified 
sports and fitness expenses’ means amounts 
paid exclusively for the sole purpose of partici-
pating in a physical activity including— 
‘‘(i) for membership at a fitness facil-
ity, 
‘‘(ii) for participation or instruction in 
physical exercise or physical activity, or 
‘‘(iii) for equipment used in a pro-
gram (including a self-directed program) of 
physical exercise or physical activity. 
‘‘(B) OVERALL DOLLAR LIMITATION.—The 
aggregate amount treated as qualified sports 
and fitness expenses with respect to any tax-
payer for any taxable year shall not exceed 
$1,000 ($2,000 in the case of a joint return or 
a head of household (as defined in section 
2(b))). 
‘‘(C) FITNESS FACILITY.—For purposes of 
subparagraph (A)(i), the term ‘fitness facility’ 
means a facility— 
‘‘(i) which provides instruction in a 
program of physical exercise, offers facili-
ties for the preservation, maintenance, en-
couragement, or development of physical 
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fitness, or serves as the site of such a pro-
gram of a State or local government, 
‘‘(ii) which is not a private club owned 
and operated by its members, 
‘‘(iii) which does not offer golf, hunt-
ing, sailing, or riding facilities, 
‘‘(iv) the health or fitness component 
of which is not incidental to its overall 
function and purpose, and 
‘‘(v) which is fully compliant with the 
State of jurisdiction and Federal anti-dis-
crimination laws. 
‘‘(D) TREATMENT OF EXERCISE VIDEOS, 
ETC.—Videos, books, and similar materials 
shall be treated as described in subparagraph 
(A)(ii) if the content of such materials con-
stitutes instruction in a program of physical ex-
ercise or physical activity. 
‘‘(E) LIMITATIONS
RELATED
TO
SPORTS 
AND FITNESS EQUIPMENT.—Amounts paid for 
equipment described in subparagraph (A)(iii) 
shall be treated as qualified sports and fitness 
expenses only— 
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‘‘(i) if such equipment is utilized ex-
clusively for participation in fitness, exer-
cise, sport, or other physical activity, 
‘‘(ii) in the case of amounts paid for 
apparel or footwear, if such apparel or 
footwear is of a type that is necessary for, 
and is not used for any purpose other 
than, a specific physical activity, and 
‘‘(iii) in the case of amounts paid for 
any single item of sports equipment (other 
than exercise equipment), to the extent 
such amounts do not exceed $250. 
‘‘(F) PROGRAMS WHICH INCLUDE COMPO-
NENTS OTHER THAN PHYSICAL EXERCISE AND 
PHYSICAL ACTIVITY.—Rules similar to the rules 
of paragraph (6) shall apply in the case of any 
program that includes physical exercise or phys-
ical activity and also other components. For 
purposes of the preceding sentence, travel and 
accommodations shall be treated as a separate 
component.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
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SEC. 5. YOUTH SPORT PROVIDERS LOAN PROGRAM. 
(a) DEFINITIONS.—In this section, the terms ‘‘Ad-
ministration’’ and ‘‘Administrator’’ mean the Small Busi-
ness Administration and the Administrator thereof, re-
spectively. 
(b) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended— 
(1) in paragraph (2)— 
(A) in subparagraph (A), in the matter 
preceding clause (i), by striking ‘‘and (F)’’ and 
inserting ‘‘(F), and (G)’’; and 
(B) by adding at the end the following: 
‘‘(G) PARTICIPATION
IN
THE
YOUTH 
SPORTS
PROVIDER
LOAN
PROGRAM.—In an 
agreement to participate in a loan on a deferred 
basis under paragraph (37), the participation 
by the Administration shall be 100 percent.’’; 
and 
(2) by adding at the end the following: 
‘‘(37) YOUTH
SPORTS
PROVIDER
LOAN
PRO-
GRAM.— 
‘‘(A) DEFINITIONS.—In this paragraph— 
‘‘(i) the terms ‘appropriate Federal 
banking agency’ and ‘insured depository 
institution’ have the meanings given those 
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terms in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813); 
‘‘(ii) the term ‘covered loan’ means a 
loan made under this paragraph during the 
covered period; 
‘‘(iii) the term ‘covered period’ means 
the period beginning on March 1, 2020, 
and ending on December 31, 2020; 
‘‘(iv) the term ‘eligible recipient’ 
means an individual or entity that is a 
youth sports provider and is eligible to re-
ceive a covered loan; 
‘‘(v) 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); 
‘‘(vi) the term ‘high priority area’ 
means a geographic area for which an eli-
gible recipient is a small business concern 
owned and controlled by socially and eco-
nomically disadvantaged individuals, a 
small business concern owned and con-
trolled by women, or a small business con-
cern owned and controlled by veterans— 
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‘‘(I) working in or attracting 
youth participants from low income, 
underserved, or rural communities 
(based on ZIP code); 
‘‘(II) working with populations 
disproportionately 
affected 
by 
COVID–19 (based on ZIP code); and 
‘‘(III) working with populations 
of youth that already have low access 
to quality sports programs; 
‘‘(vii) the term ‘insured credit union’ 
has the meaning given the term in section 
101 of the Federal Credit Union Act (12 
U.S.C. 1752); 
‘‘(viii) the term ‘nonprofit organiza-
tion’ means an organization that is de-
scribed in section 501(c)(3) of the Internal 
Revenue Code of 1986 and that is exempt 
from taxation under section 501(a) of such 
Code; 
‘‘(ix) the term ‘operating losses’ 
means regular operating expenses accrued 
since January 1, 2020, through the date of 
the loan application since January 1, 2020, 
minus revenue generated over that period; 
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‘‘(x) the term ‘regular operating ex-
penses’— 
‘‘(I) means expenses incurred in 
the regular operations of business and 
includes— 
‘‘(aa) payroll costs (as de-
fined in paragraph (36)); 
‘‘(bb) other expenses relat-
ing to workforce support, includ-
ing 1099–MISC contractors and 
volunteers, such as contractor 
fees for services, training, back-
ground screenings, or insurance; 
‘‘(cc) regular or necessary 
facilities maintenance and up-
keep; 
‘‘(dd) supplies or materials 
that due to their nature are un-
usable at a future date and main-
tain only a nominal value; 
‘‘(ee) overhead expenses for 
events or programs cancelled due 
to COVID–19 that are not reim-
bursable through insurance or 
other means, such as nonreim-
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bursable deposits and cancella-
tion fees; 
‘‘(ff) rent (including rent 
under a lease agreement); 
‘‘(gg) payments of interest 
or mandatory principal payment 
on 
any 
mortgage 
obligation 
(which shall not include any pre-
payment of principal or interest 
on a mortgage obligation); 
‘‘(hh) utilities; 
‘‘(ii) interest or mandatory 
principal payment on any other 
debt obligations that were in-
curred before the covered period 
(which shall not include any pre-
payment of principal or interest 
on a debt obligation); 
‘‘(jj) marketing; 
‘‘(kk) insurance; or 
‘‘(ll) any other operational 
expenses, including program fee 
refunds, costs for referees or 
sports officials, software and 
technology, equipment, and sup-
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plies or materials that due to 
their nature are unusable at a fu-
ture date and maintain only a 
nominal value; and 
‘‘(II) does not include— 
‘‘(aa) expenses permitted to 
be reimbursed under contract or 
otherwise reimbursable; 
‘‘(bb) expenses reimbursable 
under currently held insurance; 
or 
‘‘(cc) any compensation of 
an 
employee 
whose 
principal 
place of residence is outside of 
the United States; 
‘‘(xi) the term ‘youth sports pro-
vider’— 
‘‘(I) means any entity or organi-
zation that has a primary purpose to 
provide direct sports programming or 
sports events to youth 18 and under, 
including— 
‘‘(aa) sports-based youth de-
velopment organizations; 
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‘‘(bb) interscholastic sports 
programs; 
‘‘(cc) youth sports providers 
such as coaches, trainers, and in-
structors; and 
‘‘(dd) youth sport league, 
camp, or event providers; and 
‘‘(xii) the term ‘veterans organization’ 
means an organization that is described in 
section 501(c)(19) of the Internal Revenue 
Code that is exempt from taxation under 
section 501(a) of such code. 
‘‘(B) COVERED LOANS.— 
‘‘(i) 
YOUTH
SPORTS
PROVIDER 
LOANS.—Except as otherwise provided in 
this paragraph, the Administrator may 
guarantee covered loans under the same 
terms, conditions, and processes as a loan 
made under this subsection. 
‘‘(ii) DELEGATED
AUTHORITY.—For 
purposes of making covered loans under 
this paragraph, a lender approved to make 
loans under this subsection shall be 
deemed to have been delegated authority 
by the Administrator to make and approve 
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covered loans, subject to the provisions of 
this paragraph. 
‘‘(iii) ADDITIONAL
LENDERS.—The 
authority to make loans under this para-
graph shall be extended to additional lend-
ers determined by the Administrator and 
the Secretary of the Treasury to have the 
necessary qualifications to process, close, 
disburse, and service loans made with the 
guarantee of the Administration. 
‘‘(iv) 
REFINANCE.—A 
loan 
made 
under subsection (b)(2) during the period 
beginning on January 31, 2020, and end-
ing on the date on which covered loans are 
made available may be refinanced as part 
of a covered loan. 
‘‘(v) 
NONRECOURSE.—Notwith-
standing the waiver of the personal guar-
antee requirement or collateral under sub-
paragraph (J), the Administrator shall 
have no recourse against any individual 
shareholder, member, or partner of an eli-
gible recipient of a covered loan for non-
payment of any covered loan, except to the 
extent that such shareholder, member, or 
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partner uses the covered loan proceeds for 
a purpose not authorized under clause (ii). 
‘‘(C) REGISTRATION OF LOANS.—Not later 
than 15 days after the date on which a loan is 
made under this paragraph, the Administration 
shall register the loan using the TIN (as de-
fined in section 7701 of the Internal Revenue 
Code of 1986) assigned to the borrower. 
‘‘(D) ELIGIBILITY
FOR
CERTAIN
SMALL 
BUSINESSES AND ORGANIZATIONS.— 
‘‘(i) IN
GENERAL.—During the cov-
ered period, any youth sports provider 
business concern, nonprofit organization, 
veterans organization, or Tribal business 
concern described in section 31(b)(2)(C) 
shall be eligible to receive a covered loan if 
the youth sports provider concern or orga-
nization employs not more than 500 full- 
time employees. An eligible recipient apply-
ing for a covered loan shall make a good 
faith certification— 
‘‘(I) that the uncertainty of cur-
rent economic conditions makes nec-
essary the loan request to support the 
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ongoing operations of the eligible re-
cipient; 
‘‘(II) that the eligible recipient 
provides direct sports programming or 
sports events to youth 18 and under; 
‘‘(III) that the eligible recipient 
does not have an application pending 
for a loan under this subsection for 
the same purpose and duplicative of 
amounts applied for or received under 
a covered loan; and 
‘‘(IV) during the period begin-
ning on February 15, 2020, and end-
ing on December 31, 2020, that the 
eligible recipient has not received 
amounts under this subsection for the 
same purpose that when added to the 
applied for loan amount under this 
program will exceed $2 million. 
‘‘(ii) INCLUSION
OF
SOLE
PROPRI-
ETORS, INDEPENDENT CONTRACTORS, AND 
ELIGIBLE
SELF-EMPLOYED
INDIVID-
UALS.— 
‘‘(I) IN
GENERAL.—During the 
covered period, individuals who oper-
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ate under a sole proprietorship or as 
an independent contractor and eligible 
self-employed individuals shall be eli-
gible to receive a covered loan. 
‘‘(II) DOCUMENTATION.—An eli-
gible self-employed individual, inde-
pendent contractor, or sole proprietor-
ship seeking a covered loan shall sub-
mit such documentation as is nec-
essary to establish such individual as 
eligible, including payroll tax filings 
reported to the Internal Revenue 
Service, Forms 1099–MISC, and in-
come and expenses from the sole pro-
prietorship, as determined by the Ad-
ministrator and the Secretary. 
‘‘(iii) PAYROLL PROTECTION PROGRAM 
ELIGIBILITY.—No youth sports provider 
that received a covered loan under para-
graph (36) shall be deemed ineligible for a 
covered loan under this paragraph. 
‘‘(iv) EMPLOYEE.—For purposes of 
determining whether a youth sports pro-
vider business concern, nonprofit organiza-
tion, veterans organization, or Tribal busi-
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ness 
concern 
described 
in 
section 
31(b)(2)(C) employs not more than 500 
employees under clause (i)(I), the term 
‘employee’ includes individuals employed 
on a full-time basis. 
‘‘(v) AFFILIATION.—The provisions 
applicable to affiliations under section 
121.103 of title 13, Code of Federal Regu-
lations, or any successor thereto, shall not 
apply with respect to a nonprofit organiza-
tion and a veterans organization in the 
same manner as with respect to a small 
business concern. 
‘‘(E) MAXIMUM LOAN AMOUNT.— 
‘‘(i) ALLOCATION.—During the cov-
ered period, with respect to a covered loan, 
the maximum loan amount shall not exceed 
$2,000,000 and be the greater of— 
‘‘(I) gross receipts in 2019; or 
‘‘(II) 85 percent of regular oper-
ating expenses accrued since January 
1, 2020, minus revenue generated 
over that period. 
‘‘(ii) DISBURSEMENT.—Priority con-
sideration in the loan disbursement shall 
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be given to nonprofits representing youth 
sports providers serving high priority 
areas. This consideration may include des-
ignating a specific amount of the loan 
funding allocated to be used exclusively for 
nonprofit providers serving high priority 
areas. 
‘‘(F) ALLOWABLE
USES
OF
COVERED 
LOANS.—During the covered period, an eligible 
recipient may use the proceeds of the covered 
loan for regular operating expenses. 
‘‘(G) LOAN FORGIVENESS.— 
‘‘(i)(I) FORGIVENESS.—An eligible re-
cipient shall be eligible for forgiveness of 
indebtedness on a covered loan in an 
amount equal to percentage forgiveness 
multiplied by the loan amount. 
‘‘(II) ELIGIBLE EXPENSES.—Up to 50 
percent of forgiveness shall be granted for 
use for the eligible expenses enumerated 
above. 
‘‘(III) ADDITIONAL
FORGIVENESS.— 
Additional forgiveness of the remaining 50 
percent shall be prorated based on the 
number of youth participants in the pro-
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gram participating in some capacity (i.e. 
virtual) by December 2021 (as compared 
to participation rates over a comparable 
period in 2019). Criteria shall be developed 
to define this standard and take into ac-
count factors that would limit or reduce 
participation, such as continuing COVID– 
19 concerns. 
‘‘(IV) TREATMENT OF AMOUNTS FOR-
GIVEN.— 
‘‘(aa) IN
GENERAL.—Amounts 
which have been forgiven under this 
section shall be considered cancelled 
indebtedness by a lender authorized 
under section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)). 
‘‘(bb) PURCHASE
OF
GUARAN-
TEES.—For purposes of the purchase 
of the guarantee for a covered loan by 
the Administrator, amounts which are 
forgiven under this section shall be 
treated in accordance with the proce-
dures that are otherwise applicable to 
a loan guaranteed under section 7(a) 
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of the Small Business Act (15 U.S.C. 
636(a)). 
‘‘(cc) REMITTANCE.—Not later 
than 90 days after the date on which 
the amount of forgiveness under this 
section is determined, the Adminis-
trator shall remit to the lender an 
amount equal to the amount of for-
giveness, plus any interest accrued 
through the date of payment.’’. 
(c) APPLICATION.—An eligible recipient seeking 
loan forgiveness under this section shall submit to 
the lender that is servicing the covered loan an ap-
plication, which shall include— 
(1) documentation verifying youth under 
the age of 18 participation numbers during the 
forgiveness calculation periods; 
(2) documentation showing expenditures of 
the covered loan on allowed uses; 
(3) a certification from a representative of 
the eligible recipient authorized to make such 
certifications that— 
(A) the documentation presented is 
true and correct; and 
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(B) the amount for which forgiveness 
is requested was used to provide sports 
programing and sports events for youth 
under the age of 18; and 
(4) any other documentation the Adminis-
trator determines necessary. 
(d) PROHIBITION
ON
FORGIVENESS
WITHOUT 
DOCUMENTATION.—No eligible recipient shall receive 
forgiveness under this section without submitting, to 
the lender that is servicing the covered loan, the doc-
umentation required under subsection (f). 
(e) DECISION.—Not later than 60 days after 
the date on which a lender receives an application 
for loan forgiveness under this section from an eligi-
ble recipient, the lender shall issue a decision on the 
application. 
(f) HOLD HARMLESS.—If a lender has received 
the documentation required under this section from 
an eligible recipient attesting that the eligible recipi-
ent has accurately verified the payments for payroll 
costs, payments on covered mortgage obligations, 
payments on covered lease obligations, or covered 
utility payments during covered period— 
(1) an enforcement action may not be 
taken against the lender under section 47(e) of 
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the Small Business Act (15 U.S.C. 657t(e)) re-
lating to loan forgiveness for the payments for 
payroll costs, payments on covered mortgage 
obligations, payments on covered lease obliga-
tions, or covered utility payments, as the case 
may be; and 
(2) the lender shall not be subject to any 
penalties by the Administrator relating to loan 
forgiveness for the payments for payroll costs, 
payments on covered mortgage obligations, pay-
ments on covered lease obligations, or covered 
utility payments, as the case may be. 
(g) TAXABILITY.—For purposes of the Internal 
Revenue Code of 1986, any amount which (but for 
this subsection) would be includible in gross income 
of the eligible recipient by reason of forgiveness de-
scribed in subsection (b) shall be excluded from 
gross income. 
(h) RULE OF CONSTRUCTION.—The cancellation 
of indebtedness on a covered loan under this section 
shall not otherwise modify the terms and conditions 
of the covered loan. 
(i) REGULATIONS.—Not later than 30 days 
after the date of enactment of this Act, the Adminis-
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trator shall issue guidance and regulations imple-
menting this section. 
(j) DIRECT
APPROPRIATIONS.—There is appro-
priated, out of amounts in the Treasury not otherwise ap-
propriated, for the fiscal year ending September 30, 2020, 
to remain available until September 30, 2021, for addi-
tional amounts $8,500,000,000 under the heading ‘‘Small 
Business Administration—Business Loans Program Ac-
count, CARES Act’’ for the cost of guaranteed loans as 
authorized under paragraph (37) of section 7(a) of the 
Small Business Act (15 U.S.C. 636(a)), as added by sec-
tion 5 of this Act. 
(k) EMERGENCY RULEMAKING AUTHORITY.—Not 
later than 15 days after the date of enactment of this Act, 
the Administrator shall issue regulations to carry out this 
title and the amendments made by this title without re-
gard to the notice requirements under section 553(b) of 
title 5, United States Code. 
(l) LOAN EDUCATION.— 
(1) The SBA shall have authority to provide 
additional financial awards to resource partners 
(Small Business Development Centers, Women’s 
Business Centers) to provide counseling, training, 
and education to youth sports providers on use of 
loans. 
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(2) The SBA or Treasury shall provide non-
profits representing youth sports providers serving 
high priority areas with grants to establish a train-
ing program on accessing resources under the pro-
gram, and general financial management. 
(m) FEE WAIVER.—During the covered period, with 
respect to a covered loan— 
(1) in lieu of the fee otherwise applicable under 
paragraph (23)(A), the Administrator shall collect 
no fee; and 
(2) in lieu of the fee otherwise applicable under 
paragraph (18)(A), the Administrator shall collect 
no fee. 
(n) INTEREST RATE REQUIREMENTS.—A covered 
loan shall bear an interest rate— 
(1) for the first two years, and shall be no 
greater than 4 percent; 
(2) for years 3 through 7, and shall have Appli-
cable Federal Rate (AFR) plus 250–450 base points 
(bps) as determined by the Administrator based on 
revenue decline. 
(o) LOAN DEFERMENT.— 
(1) DEFINITION OF IMPACTED BORROWER.—In 
this section, the term ‘‘impacted borrower’’ means 
an eligible recipient that— 
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(A) is in operation on February 15, 2020; 
and 
(B) has an application for a covered loan 
that is approved or pending approval on or 
after the date of enactment of this section. 
(2) PRESUMPTION.—For purposes of this sub-
section, an impacted borrower is presumed to have 
been adversely impacted by COVID–19. 
Æ 
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