995 
‘‘(iv) LIMITATION.—An eligible recipi-
ent of a covered loan for purposes of pay-
ing payroll costs and other obligations de-
scribed in this subparagraph shall not be 
eligible to receive an economic injury dis-
aster loan under subsection (b)(2) for the 
same purpose. 
‘‘(G) BORROWER REQUIREMENTS.— 
‘‘(i) CERTIFICATION.—An eligible re-
cipient applying 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 
ongoing operations of the eligible re-
cipient; and 
‘‘(II) acknowledging that funds 
will be used to retain workers and 
maintain payroll or make mortgage 
payments, lease payments, and utility 
payments. 
‘‘(ii) FULL-TIME
EQUIVALENT
EM-
PLOYEES.—An eligible recipient of a cov-
ered loan shall maintain an average 
monthly number of full-time equivalent em-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 00995
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
996 
ployees (as defined in section 45R(d)(2) of 
the Internal Revenue Code of 1986) during 
the covered period that is not less than the 
average monthly number of full-time equiv-
alent employees during the applicable pe-
riod described in subclause (I)(aa) or sub-
clause (II)(aa) of subparagraph (E)(i). 
‘‘(H) FEE
WAIVER.—During the covered 
period, with respect to a covered loan— 
‘‘(i) in lieu of the fee otherwise appli-
cable under paragraph (23)(A), the Ad-
ministrator shall collect no fee; and 
‘‘(ii) in lieu of the fee otherwise appli-
cable under paragraph (18)(A), the Ad-
ministrator shall collect no fee. 
‘‘(I) CREDIT
ELSEWHERE.—During the 
covered period, the requirement that a small 
business concern is unable to obtain credit else-
where, as defined in section 3(h), shall not 
apply to a covered loan. 
‘‘(J) COLLATERAL AND PERSONAL GUAR-
ANTEE
REQUIREMENTS.—During the covered 
period, with respect to a covered loan— 
‘‘(i) no collateral shall be required for 
the covered loan; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 00996
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
997 
‘‘(ii) no personal guarantee shall be 
required for the covered loan. 
‘‘(K) MATURITY
FOR
LOANS
WITH
RE-
MAINING
BALANCE
AFTER
APPLICATION
OF 
FORGIVENESS.—With respect to a covered loan 
that has a remaining balance after reduction 
based on the loan forgiveness amount under 
section 1105 of the CARES Act— 
‘‘(i) the remaining balance shall con-
tinue to be guaranteed by the Administra-
tion under this subsection; and 
‘‘(ii) the covered loan shall have a 
maximum maturity of 10 years from the 
date on which the borrower applies for 
loan forgiveness under that section. 
‘‘(L) INTEREST
RATE
REQUIREMENTS.— 
During the covered period, a covered loan shall 
bear an interest rate not to exceed 4 percent. 
‘‘(M) SUBSIDY
RECOUPMENT
FEE.—Not-
withstanding any other provision of law, a cov-
ered loan shall not be subject to a subsidy 
recoupment fee. 
‘‘(N) LOAN DEFERMENT.— 
‘‘(i) DEFINITION OF IMPACTED BOR-
ROWER.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 00997
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
998 
‘‘(I) IN GENERAL.—In this sub-
paragraph, the term ‘impacted bor-
rower’ means an eligible recipient 
that— 
‘‘(aa) is in operation on 
February 15, 2020; and 
‘‘(bb) has an application for 
a covered loan that is approved 
or pending approval on or after 
the date of enactment of this 
paragraph. 
‘‘(II) PRESUMPTION.—For pur-
poses of this subparagraph, an im-
pacted borrower is presumed to have 
been adversely impacted by COVID– 
19. 
‘‘(ii) DEFERRAL.—During the covered 
period, the Administrator shall— 
‘‘(I) consider each eligible recipi-
ent that applies for a covered loan to 
be an impacted borrower; and 
‘‘(II) require lenders under this 
subsection to provide complete pay-
ment deferment relief for impacted 
borrowers with covered loans for a pe-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 00998
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
999 
riod of less than 6 months, including 
payment of principal, interest, and 
fees. 
‘‘(iii) SECONDARY
MARKET.—During 
the covered period, with respect to a cov-
ered loan that is sold on the secondary 
market, if an investor declines to approve 
a deferral requested by a lender under 
clause (ii), the Administrator shall exercise 
the authority to purchase the loan so that 
the impacted borrower may receive a defer-
ral for a period of not less than 6 months 
starting on the date on which the loan is 
disbursed. 
‘‘(iv) GUIDANCE.—Not later than 30 
days after the date of enactment of this 
paragraph, the Administrator shall provide 
guidance to lenders under this paragraph 
on the deferment process described in this 
subparagraph. 
‘‘(O) SECONDARY MARKET SALES.—A cov-
ered loan shall not be eligible to be sold in the 
secondary market until the covered recipient of 
the covered loan has requested the loan forgive-
ness authorized under section 1105 of the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 00999
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1000 
CARES Act and the Administrator has finally 
determined the amount of any forgiveness to 
which the eligible recipient is entitled and has 
made payment to the lender. Any remaining 
balance on the loan after the application of that 
payment may be sold in the secondary market. 
‘‘(P) REGULATORY
CAPITAL
REQUIRE-
MENTS.— 
‘‘(i) RISK WEIGHT.—With respect to 
the appropriate Federal banking agencies 
applying capital requirements under their 
respective risk-based capital requirements, 
a covered loan shall receive a risk weight 
of zero percent. 
‘‘(ii) TEMPORARY RELIEF FROM TDR 
DISCLOSURES.—Notwithstanding any other 
provision of law, an insured depository in-
stitution that modifies a covered loan in re-
lation to COVID–19-related difficulties in 
a troubled debt restructuring on or after 
March 13, 2020, shall not be required to 
comply with the Financial Accounting 
Standards Board Accounting Standards 
Codification Subtopic 310–40 (‘Receivables 
– Troubled Debt Restructurings by Credi-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01000
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1001 
tors’) for purposes of compliance with the 
requirements of the Federal Deposit Insur-
ance Act (12 U.S.C. 1811 et seq.), until 
such time and under such circumstances as 
the appropriate Federal banking agency 
determines appropriate. 
‘‘(Q) 
REIMBURSEMENT
FOR
PROC-
ESSING.— 
‘‘(i) IN GENERAL.—The Administrator 
shall reimburse a lender authorized to 
make a covered loan at a rate of 5 percent 
of the balance of the financing outstanding 
at the time of disbursement of the covered 
loan. 
‘‘(ii) TIMING.—A reimbursement de-
scribed in clause (i) shall be made not later 
than 5 days after the disbursement of the 
covered loan. 
‘‘(R) 
DUPLICATION.—Nothing 
in 
this 
paragraph shall prohibit a recipient of an eco-
nomic injury disaster loan made under sub-
section (b)(2) during the period beginning on 
February 15, 2020 and ending on March 31, 
2020 from receiving assistance under this para-
graph.’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01001
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1002 
(b) COMMITMENTS FOR 7(a) LOANS.—During the pe-
riod beginning on February 15, 2020 and ending on June 
30, 2020— 
(1) the amount authorized for commitments for 
general business loans authorized under section 7(a) 
of the Small Business Act (15 U.S.C. 636(a)), in-
cluding loans made under paragraph (36) of such 
section, as added by subsection (a), shall be 
$349,000,000,000; and 
(2) the amount authorized for commitments for 
such loans under the heading ‘‘BUSINESS
LOANS 
PROGRAM
ACCOUNT’’ under the heading ‘‘Small 
Business Administration’’ under title V of the Con-
solidated Appropriations Act, 2020 (Public Law 
116–93; 133 Stat. 2475) shall not apply. 
(c) EXPRESS LOANS.— 
(1) IN GENERAL.—Section 7(a)(31)(D) of the 
Small Business Act (15 U.S.C. 636(a)(31)(D)) is 
amended by striking ‘‘$350,000’’ and inserting 
‘‘$1,000,000’’. 
(2) PROSPECTIVE REPEAL.—Effective on Janu-
ary 1, 2021, section 7(a)(31)(D) of the Small Busi-
ness Act (15 U.S.C. 636(a)(31)(D)) is amended by 
striking ‘‘$1,000,000’’ and inserting ‘‘$350,000’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01002
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1003 
(d) EXCEPTION TO GUARANTEE FEE WAIVER FOR 
VETERANS.—Section 7(a)(31)(G) of the Small Business 
Act (15 U.S.C. 636(a)(31)(G)) is amended— 
(1) by striking clause (ii); and 
(2) by redesignating clause (iii) as clause (ii). 
(e) INTERIM RULE.—On and after the date of enact-
ment of this Act, the interim final rule published by the 
Administrator entitled ‘‘Express Loan Programs: Affili-
ation Standards’’ (85 Fed. Reg. 7622 (February 10, 
2020)) shall have no force or effect. 
SEC. 190003. ENTREPRENEURIAL DEVELOPMENT. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘resource partner’’ means— 
(A) a small business development center; 
and 
(B) a women’s business center; 
(2) the term ‘‘small business development cen-
ter’’ has the meaning given the term in section 3 of 
the Small Business Act (15 U.S.C. 632); and 
(3) the term ‘‘women’s business center’’ means 
a women’s business center described in section 29 of 
the Small Business Act (15 U.S.C. 656). 
(b) 
EDUCATION, 
TRAINING, 
AND
ADVISING 
GRANTS.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01003
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1004 
(1) IN
GENERAL.—The Administration may 
provide financial assistance in the form of grants to 
resource partners to provide education, training, and 
advising to covered small business concerns. 
(2) USE OF FUNDS.—Grants under this sub-
section shall be used for the education, training, and 
advising of covered small business concerns and 
their employees on— 
(A) accessing and applying for resources 
provided by the Administration and other Fed-
eral resources relating to access to capital and 
business resiliency; 
(B) the hazards and prevention of the 
transmission and communication of COVID–19 
and other communicable diseases; 
(C) the potential effects of COVID–19 on 
the supply chains, distribution, and sale of 
products of covered small business concerns and 
the mitigation of those effects; 
(D) the management and practice of 
telework to reduce possible transmission of 
COVID–19; 
(E) the management and practice of re-
mote customer service by electronic or other 
means; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01004
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1005 
(F) the risks of and mitigation of cyber 
threats in remote customer service or telework 
practices; 
(G) the mitigation of the effects of reduced 
travel or outside activities on covered small 
business concerns during COVID–19 or similar 
occurrences; and 
(H) any other relevant business practices 
necessary to mitigate the economic effects of 
COVID–19 or similar occurrences. 
(3) GRANT DETERMINATION.— 
(A) SMALL BUSINESS DEVELOPMENT CEN-
TERS.—The Administration shall award 80 per-
cent of funds authorized to carry out this sub-
section to small business development centers, 
which shall be awarded pursuant to a formula 
jointly developed, negotiated, and agreed upon, 
with full participation of both parties, between 
the 
association 
formed 
under 
section 
21(a)(3)(A) of the Small Business Act (15 
U.S.C. 648(a)(3)(A)) and the Administration. 
(B) WOMEN’S
BUSINESS
CENTERS.—The 
Administration shall award 20 percent of funds 
authorized to carry out this subsection to wom-
en’s business centers, which shall be awarded 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01005
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1006 
pursuant to a process established by the Ad-
ministration in consultation with recipients of 
assistance. 
(C) NO
MATCHING
FUNDS
REQUIRED.— 
Matching funds shall not be required for any 
grant under this subsection. 
(4) GOALS AND METRICS.— 
(A) IN GENERAL.—Goals and metrics for 
the funds made available under this subsection 
shall be jointly developed, negotiated, and 
agreed upon, with full participation of both par-
ties, between the resource partners and the Ad-
ministrator, which shall— 
(i) take into consideration the extent 
of the circumstances relating to the spread 
of COVID–19, or similar occurrences, that 
affect covered small business concerns lo-
cated in the areas covered by the resource 
partner, particularly in rural areas or eco-
nomically distressed areas; 
(ii) generally follow the use of funds 
outlined in paragraph (2), but shall not re-
strict the activities of resource partners in 
responding to unique situations; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01006
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1007 
(iii) encourage resource partners to 
develop and provide services to covered 
small business concerns. 
(B) PUBLIC AVAILABILITY.—The Adminis-
trator shall make publicly available the method-
ology by which the Administrator and resource 
partners jointly develop the metrics and goals 
described in subparagraph (A). 
(c) RESOURCE PARTNER ASSOCIATION GRANTS.— 
(1) IN GENERAL.—The Administrator may pro-
vide grants to an association or associations rep-
resenting resource partners under which the associa-
tion or associations shall establish a single central-
ized hub for COVID–19 information, which shall in-
clude— 
(A) 1 online platform that consolidates re-
sources and information available across mul-
tiple Federal agencies for small business con-
cerns related to COVID–19; and 
(B) a training program to educate resource 
partner counselors, members of the Service 
Corps of Retired Executives established under 
section 8(b)(1)(B) of the Small Business Act 
(15 U.S.C. 637(b)(1)(B)), and counselors at 
veterans business outreach centers described in 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01007
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1008 
section 32 of the Small Business Act (15 
U.S.C. 657b) on the resources and information 
described in subparagraph (A). 
(2) GOALS AND METRICS.—Goals and metrics 
for the funds made available under this subsection 
shall be jointly developed, negotiated, and agreed 
upon, with full participation of both parties, between 
the association or associations receiving a grant 
under this subsection and the Administrator. 
(d) REPORT.—Not later than 6 months after the date 
of enactment of this Act, and annually thereafter, the Ad-
ministrator shall submit to the Committee on Small Busi-
ness and Entrepreneurship of the Senate and the Com-
mittee on Small Business of the House of Representatives 
a report that describes— 
(1) with respect to the initial year covered by 
the report— 
(A) the programs and services developed 
and provided by the Administration and re-
source partners under subsection (b); 
(B) the initial efforts to provide those serv-
ices under subsection (b); and 
(C) the online platform and training devel-
oped and provided by the Administration and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01008
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1009 
the association or associations under subsection 
(c); and 
(2) with respect to the subsequent years covered 
by the report— 
(A) with respect to the grant program 
under subsection (b)— 
(i) the efforts of the Administrator 
and resource partners to develop services 
to assist covered small business concerns; 
(ii) the challenges faced by owners of 
covered small business concerns in access-
ing services provided by the Administration 
and resource partners; 
(iii) the number of unique covered 
small business concerns that were served 
by the Administration and resource part-
ners; and 
(iv) other relevant outcome perform-
ance data with respect to covered small 
business concerns, including the number of 
employees affected, the effect on sales, the 
disruptions of supply chains, and the ef-
forts made by the Administration and re-
source partners to mitigate these effects; 
and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01009
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1010 
(B) with respect to the grant program 
under subsection (c)— 
(i) the efforts of the Administrator 
and the association or associations to de-
velop and evolve an online resource for 
small business concerns; and 
(ii) the efforts of the Administrator 
and the association or associations to de-
velop a training program for resource part-
ner counselors, including the number of 
counselors trained. 
SEC. 190004. WAIVER OF MATCHING FUNDS REQUIREMENT 
UNDER THE WOMEN’S BUSINESS CENTER 
PROGRAM. 
During the 3-month period beginning on the date of 
enactment of this Act, the requirement relating to obtain-
ing cash contributions from non-Federal sources under 
section 29(c)(1) of the Small Business Act (15 U.S.C. 
656(c)(1)) is waived for any recipient of assistance under 
such section 29. 
SEC. 190005. LOAN FORGIVENESS. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘covered loan’’ means a loan guar-
anteed under paragraph (36) of section 7(a) of the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01010
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1011 
Small Business Act (15 U.S.C. 636(a)), as added by 
section 1102; 
(2) the term ‘‘covered mortgage obligation’’ 
means any indebtedness or debt instrument incurred 
in the ordinary course of business that— 
(A) is a liability of the borrower; 
(B) is a mortgage on real or personal 
property; and 
(C) was incurred before February 15, 
2020; 
(3) the term ‘‘covered period’’ means the 8- 
week period beginning on date of the origination of 
a covered loan; 
(4) the term ‘‘covered rent obligation’’ means 
rent obligated under a leasing agreement in force be-
fore February 15, 2020; 
(5) the term ‘‘covered utility payment’’ means 
payment for a service for the distribution of elec-
tricity, gas, water, transportation, telephone, or 
internet access for which service began before Feb-
ruary 15, 2020; 
(6) the term ‘‘eligible recipient’’ means the re-
cipient of a covered loan; 
(7) the term ‘‘expected forgiveness amount’’ 
means the amount of principal that a lender reason-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01011
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1012 
ably expects a borrower to expend during the cov-
ered period on the sum of any— 
(A) payroll costs; 
(B) payments of interest on any covered 
mortgage obligation (which shall not include 
any prepayment of or payment of principal on 
a covered mortgage obligation); 
(C) payments on any covered rent obliga-
tion; and 
(D) covered utility payments; and 
(8) the term ‘‘payroll costs’’ has the meaning 
given that term in paragraph (36) of section 7(a) of 
the Small Business Act (15 U.S.C. 636(a)), as 
added by section 190002(a)(2) of this division. 
(b) FORGIVENESS.—An eligible recipient shall be eli-
gible for forgiveness of indebtedness on a covered loan in 
an amount equal to the sum of the following costs incurred 
and payments made during the covered period: 
(1) Payroll costs. 
(2) 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). 
(3) Any payment on any covered rent obliga-
tion. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01012
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1013 
(4) Any covered utility payment. 
(c) TREATMENT OF AMOUNTS FORGIVEN.— 
(1) IN GENERAL.—Amounts which have been 
forgiven under this section shall be considered can-
celed indebtedness by a lender authorized under sec-
tion 7(a) of the Small Business Act (15 U.S.C. 
636(a)). 
(2) PURCHASE OF GUARANTEES.—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 procedures that are otherwise applicable to 
a loan guaranteed under section 7(a) of the Small 
Business Act (15 U.S.C. 636(a)). 
(3) REMITTANCE.—Not later than 90 days 
after the date on which the amount of forgiveness 
under this section is determined, the Administrator 
shall remit to the lender an amount equal to the 
amount of forgiveness, plus any interest accrued 
through the date of payment. 
(4) ADVANCE PURCHASE OF COVERED LOAN.— 
(A) REPORT.—A lender authorized under 
section 7(a) of the Small Business Act (15 
U.S.C. 636(a)) may report to the Administrator 
an expected forgiveness amount on a covered 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01013
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1016 
ruary 15, 2019 and ending on June 30, 
2019. 
(B) CALCULATION OF AVERAGE NUMBER 
OF
EMPLOYEES.—For purposes of subpara-
graph (A), the average number of full-time 
equivalent employees shall be determined by 
calculating the average number of full-time 
equivalent employees for each pay period falling 
within a month. 
(3) REDUCTION
RELATING
TO
SALARY
AND 
WAGES.— 
(A) IN
GENERAL.—The amount of loan 
forgiveness under this section shall be reduced 
by the amount of any reduction in total salary 
or wages of any employee described in subpara-
graph (B) during the covered period that is in 
excess of 25 percent of the total salary or wages 
of the employee during the most recent full 
quarter during which the employee was em-
ployed before the covered period. 
(B) EMPLOYEES
DESCRIBED.—An em-
ployee described in this subparagraph is any 
employee who did not receive, during any single 
pay period during 2019, wages or salary at an 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01016
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1017 
annualized rate of pay in an amount more than 
$100,000. 
(4) EXCEPTION FOR TIPPED WORKERS.—An el-
igible recipient with tipped employees described in 
section 3(m)(2)(A) of the Fair Labor Standards Act 
of 1938 (29 U.S.C. 203(m)(2)(A)) may receive for-
giveness for additional wages paid to those employ-
ees. 
(5) EXEMPTION FOR RE-HIRES.— 
(A) IN GENERAL.—In a circumstance de-
scribed in subparagraph (B), the amount of 
loan forgiveness under this section shall be de-
termined without regard to a reduction in the 
number of full-time equivalent employees of an 
eligible recipient or a reduction in the salary of 
1 or more employees of the eligible recipient, as 
applicable, during the period beginning on Feb-
ruary 15, 2020 and ending on April 1, 2020. 
(B) CIRCUMSTANCES.—A circumstance de-
scribed 
in 
this 
subparagraph 
is 
a 
cir-
cumstance— 
(i) in which— 
(I) during the period beginning 
on February 15, 2020 and ending on 
April 1, 2020, there is a reduction, as 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01017
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1018 
compared to February 15, 2020, in 
the number of full-time equivalent em-
ployees of an eligible recipient; and 
(II) not later than June 30, 
2020, the eligible employer has elimi-
nated the reduction in the number of 
full-time equivalent employees; 
(ii) in which— 
(I) during the period beginning 
on February 15, 2020 and ending on 
April 1, 2020, there is a reduction, as 
compared to February 15, 2020, in 
the salary or wages of 1 or more em-
ployees of the eligible recipient; and 
(II) not later than June 30, 
2020, the eligible employer has elimi-
nated the reduction in the salary or 
wages of such employees; or 
(iii) in which the events described in 
clause (i) and (ii) occur. 
(e) APPLICATION.—An eligible recipient seeking loan 
forgiveness under this section shall submit to the lender 
that originated the covered loan an application, which 
shall include— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01018
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1019 
(1) documentation verifying the number of full- 
time equivalent employees on payroll and pay rates 
for the periods described in subsection (d), includ-
ing— 
(A) payroll tax filings reported to the In-
ternal Revenue Service; and 
(B) State income, payroll, and unemploy-
ment insurance filings; 
(2) documentation, including cancelled checks, 
payment receipts, transcripts of accounts, or other 
documents verifying payments on covered mortgage 
obligations, payments on covered lease obligations, 
and covered utility payments; 
(3) a certification from a representative of the 
eligible recipient authorized to make such certifi-
cations that— 
(A) the documentation presented is true 
and correct; and 
(B) the amount for which forgiveness is re-
quested was used to retain employees, make in-
terest payments on a covered mortgage obliga-
tion, make payments on a covered rent obliga-
tion, or make covered utility payments; and 
(4) any other documentation the Administrator 
determines necessary. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01019
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1020 
(f) PROHIBITION ON FORGIVENESS WITHOUT DOCU-
MENTATION.—No eligible recipient shall receive forgive-
ness under this section without submitting to the lender 
that originated the covered loan the documentation re-
quired under subsection (e). 
(g) DECISION.—Not later than 60 days after the date 
on which a lender receives an application for loan forgive-
ness under this section from an eligible recipient, the lend-
er shall issue a decision on the an application. 
(h) SAFE HARBOR.—If a lender determines that an 
eligible recipient 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 the Small 
Business Act (15 U.S.C. 657t(e)) relating to loan 
forgiveness for the payments for payroll costs, pay-
ments on covered mortgage obligations, payments on 
covered lease obligations, or covered utility pay-
ments, as the case may be; and 
(2) the lender shall not be subject to any pen-
alties by the Administrator relating to loan forgive-
ness for the payments for payroll costs, payments on 
covered mortgage obligations, payments on covered 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01020
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1021 
lease obligations, or covered utility payments, as the 
case may be. 
(i) TAXABILITY.—Canceled indebtedness under this 
section shall be excluded from gross income for purposes 
of the Internal Revenue Code of 1986. 
(j) 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. 
(k) REGULATIONS.—Not later than 30 days after the 
date of enactment of this Act, the Administrator shall 
issue guidance and regulations implementing this section. 
SEC. 190006. MINORITY BUSINESS DEVELOPMENT AGENCY. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘Agency’’ means the Minority 
Business Development Agency of the Department of 
Commerce; and 
(2) the term ‘‘minority business center’’ means 
a Business Center of the Agency. 
(b) 
EDUCATION, 
TRAINING, 
AND
ADVISING 
GRANTS.— 
(1) IN GENERAL.—The Agency may provide fi-
nancial assistance in the form of grants to minority 
business centers to provide education, training, and 
advising to covered small business concerns. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01021
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1022 
(2) USE OF FUNDS.—Grants under this section 
shall be used for the education, training, and advis-
ing of covered small business concerns and their em-
ployees on— 
(A) accessing and applying for resources 
provided by the Agency and other Federal re-
sources relating to access to capital and busi-
ness resiliency; 
(B) the hazards and prevention of the 
transmission and communication of COVID–19 
and other communicable diseases; 
(C) the potential effects of COVID–19 on 
the supply chains, distribution, and sale of 
products of covered small business concerns and 
the mitigation of those effects; 
(D) the management and practice of 
telework to reduce possible transmission of 
COVID–19; 
(E) the management and practice of re-
mote customer service by electronic or other 
means; 
(F) the risks of and mitigation of cyber 
threats in remote customer service or telework 
practices; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01022
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1023 
(G) the mitigation of the effects of reduced 
travel or outside activities on covered small 
business concerns during COVID–19 or similar 
occurrences; and 
(H) any other relevant business practices 
necessary to mitigate the economic effects of 
COVID–19 or similar occurrences. 
(3) NO MATCHING FUNDS REQUIRED.—Match-
ing funds shall not be required for any grant under 
this section. 
(4) GOALS AND METRICS.— 
(A) IN GENERAL.—Goals and metrics for 
the funds made available under this section 
shall be jointly developed, negotiated, and 
agreed upon, with full participation of both par-
ties, between the minority business centers and 
the Agency, which shall— 
(i) take into consideration the extent 
of the circumstances relating to the spread 
of COVID–19, or similar occurrences, that 
affect covered small business concerns lo-
cated in the areas covered by the minority 
business centers, particularly in rural areas 
or economically distressed areas; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01023
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1024 
(ii) generally follow the use of funds 
outlined in paragraph (2), but shall not re-
strict the activities of minority business 
centers in responding to unique situations; 
and 
(iii) encourage minority business cen-
ters to develop and provide services to cov-
ered small business concerns. 
(B) PUBLIC
AVAILABILITY.—The Agency 
shall make publicly available the methodology 
by which the Agency and minority business cen-
ters jointly develop the metrics and goals de-
scribed in subparagraph (A). 
(5) AUTHORIZATION
OF
APPROPRIATIONS.— 
There is authorized to be appropriated $10,000,000 
to carry out this section, to remain available until 
expended. 
(c) WAIVERS.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of law or regulation, the Agency may, dur-
ing the 3-month period that begins on the date of 
enactment of this Act, waive any matching require-
ment imposed on a minority business center or spe-
cialty center of the Agency under a cooperative 
agreement between such a center and the Agency if 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01024
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1025 
the applicable center is unable to raise funds, or has 
suffered a loss of revenue, because of the effects of 
COVID–19. 
(2) REMAINING COMPLIANT.—Notwithstanding 
any provision of a cooperative agreement between 
the Agency and a minority business center, if, dur-
ing the period beginning on the date of enactment 
of this Act and ending on September 30, 2021, such 
a center decides not to collect fees because of the 
economic consequences of COVID–19, the center 
shall be considered to be in compliance with that 
agreement if— 
(A) the center notifies the Agency with re-
spect to that decision, which the center may 
provide through electronic mail; and 
(B) the Agency, not later than 15 days 
after the date on which the center provides no-
tice to the Agency under subparagraph (A)— 
(i) confirms receipt of the notification 
under subparagraph (A); and 
(ii) accepts the decision of the center. 
SEC. 190007. CONTRACTING. 
(a) DEFINITION.—In this section, the term ‘‘covered 
entity’’ means a small business concern or nonprofit orga-
nization— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01025
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1026 
(1) that is a party to a contract with a Federal 
agency; and 
(2) for which the contractor performance is ad-
versely impacted as a result of COVID–19. 
(b) 
PROMOTION
OF
SMALL
BUSINESS
CON-
TRACTING.— 
(1) SMALL BUSINESS CONTRACTING RELIEF.— 
(A) IN
GENERAL.—Notwithstanding any 
other provision of law or regulation, and except 
as provided in subparagraph (B), during the pe-
riod beginning on the date of enactment of this 
Act and ending on September 30, 2021, the 
head of the Federal agency with which a cov-
ered entity has a contract shall provide the cov-
ered entity with the greater of— 
(i) 30 additional days to carry out the 
responsibilities of the covered entity under 
the contract; or 
(ii) an additional amount of time to 
carry out the responsibilities of the covered 
entity under the contract that the head of 
the Federal agency determines to be ap-
propriate after taking into consideration 
the severity of the adverse impact experi-
enced by the covered entity. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01026
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1027 
(B) 
EXCLUSION
OF
MISSION-CRITICAL 
CONTRACTS.—Subparagraph (A) shall not apply 
to any contract that the head of the Federal 
agency that is a party to the contract deter-
mines is critical to carrying out the mission of 
the Federal agency. 
(2) PAYMENT CONTINUATION.—If the perform-
ance of all or any part of the work of a Federal 
goods or services contract with a contractor that is 
a small business concern or a nonprofit organization 
in force and effect during the period beginning on 
the date of enactment of this Act and ending on 
September 30, 2021, is unavoidably delayed or inter-
rupted by the inability of the employees of the small 
business concern or nonprofit organization, as appli-
cable, to access Government facilities, systems, or 
other Government-provided resources due to restric-
tions related to COVID–19 that have been imposed 
by any authority or due to orders or instructions 
issued by the contracting agency in response to 
COVID–19— 
(A) the Government shall pay the small 
business concern or nonprofit organization, as 
applicable, upon the submission of the docu-
mentation required by the contract and accord-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01027
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1028 
ing to the terms specified in the contract, the 
prices stipulated in the contract for goods or 
services as if the small business concern or non-
profit organization, as applicable, had rendered 
and the Government accepted the goods or serv-
ices; and 
(B) contractor delivery schedules shall be 
revised and the small business concern or non-
profit organization, as applicable, shall be eligi-
ble for equitable adjustments based on the re-
vised schedules. 
(3) PROMPT PAYMENTS.—Notwithstanding any 
other provision of law or regulation, during any pe-
riod in which the President invokes the authorities 
of the Defense Production Act of 1950 (50 U.S.C. 
4501 et seq.), for any payment due by the head of 
a Federal agency on a contract for an item of prop-
erty or service provided— 
(A) with respect to a prime contractor (as 
defined in section 8701 of title 41, United 
States Code) that is a small business concern or 
nonprofit organization, the head of the Federal 
agency shall, to the fullest extent permitted by 
law and to the maximum extent practicable, es-
tablish an accelerated payment date of 15 days 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01028
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1029 
after a proper invoice for the amount due is re-
ceived; and 
(B) with respect to a prime contractor (as 
defined in section 8701 of title 41, United 
States Code) that subcontracts with a small 
business concern or nonprofit organization, the 
head of the Federal agency shall, to fullest ex-
tent permitted by law and to the maximum ex-
tent practicable, establish an accelerated pay-
ment date of 15 days after receipt of a proper 
invoice for the amount due if the prime con-
tractor agrees to make payments to the subcon-
tractor in accordance with the accelerated pay-
ment date, to the maximum extent practicable, 
without any further consideration from or fees 
charged to the subcontractor. 
(4) BAR ON MULTIPLE FORMS OF CONTRACT 
RELIEF.—A small business concern or nonprofit or-
ganization may not receive a modification of terms 
or assistance under more than 1 paragraph of this 
subsection with respect to any single contract. 
(c) RESOLICITATION OF CONTRACTS WITH SMALL 
BUSINESS CONCERNS.—During fiscal years 2021 and 
2022, a Federal agency shall not cancel a contract in 
which the prime contractor (as defined in section 8701 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01029
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1030 
of title 41, United States Code) is a small business con-
cern that defaulted on the terms of the contract directly 
or indirectly due to the COVID–19 unless the Director 
of Small and Disadvantaged Business Utilization of the 
Federal agency certifies that— 
(1) the contract is mission-critical; 
(2) resolicitation of the contract would allow a 
faster delivery than the small business concern could 
provide; and 
(3) the resolicitation of the contract is, to the 
greatest extent possible, awarded to another small 
business concern. 
(d) 8(a) EXTENSION.—The Administrator of the 
Small Business Administration shall allow a small busi-
ness concern participating in the program established 
under section 8(a) of the Small Business Act on the date 
of enactment of this section, to extend such participation 
by a period of 1 year from the date of the concern’s admis-
sion to the program. 
SEC. 190008. UNITED STATES TREASURY PROGRAM MAN-
AGEMENT AUTHORITY. 
(a) AUTHORITY TO INCLUDE ADDITIONAL FINAN-
CIAL INSTITUTIONS.—The Department of the Treasury, 
in consultation with the Administration, the Farm Credit 
Administration, and the other Federal financial regulatory 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01030
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1031 
agencies (as defined in section 313(r) of title 31, United 
States Code), shall establish criteria for insured depository 
institutions (as defined in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813)), institutions of the Farm 
Credit System chartered under the Farm Credit Act of 
1971 (12 U.S.C. 2001 et seq.), and other lenders that do 
not already participate in lending under programs of the 
Administration, to participate in the small business inter-
ruption loans program to provide loans under this section 
until 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 Dis-
ease 2019 (COVID–19) expires. 
(b) SAFETY AND SOUNDNESS.—An insured deposi-
tory institution (as defined in section 3 of the Federal De-
posit Insurance Act (12 U.S.C. 1813)), institution of the 
Farm Credit System chartered under the Farm Credit Act 
of 1971 (12 U.S.C. 2001 et seq.), or other lender may 
only participate in the program established under this sec-
tion if participation does not affect the safety and sound-
ness of the institution or lender. 
(c) REGULATIONS FOR LENDERS AND LOANS.— 
(1) IN GENERAL.—The Secretary of the Treas-
ury, in consultation with the Administrator, shall 
issue regulations and guidance in order to direct ad-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01031
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1032 
ditional lenders under this section and establish 
terms and conditions for small business interruption 
loans under this section, including terms concerning 
compensation, 
underwriting 
standards, 
interest 
rates, and maturity. 
(2) REQUIREMENTS.—The terms and condi-
tions established under paragraph (1) shall provide 
for the following: 
(A) A rate of interest that does not exceed 
the maximum permissible rate of interest avail-
able on a loan of comparable maturity under 
paragraph (36) of section 7(a) of the Small 
Business Act (15 U.S.C. 636(a)), as added by 
section 190002(a)(2) of this division. 
(B) Terms and conditions that, to the 
maximum extent practicable, are the same as 
the terms and conditions required under the fol-
lowing provisions of paragraph (36) of section 
7(a) of the Small Business Act (15 U.S.C. 
636(a)), as added by section 190002(a) of this 
division: 
(i) Subparagraph (D), pertaining to 
borrower eligibility. 
(ii) Subparagraph (E), pertaining to 
the maximum loan amount. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01032
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1033 
(iii) Subparagraph (F)(i), pertaining 
to allowable uses of program loans. 
(iv) Subparagraph (H), pertaining to 
fee waivers. 
(v) Subparagraph (N), pertaining to 
loan deferment. 
(C) A guarantee percentage that, to the 
maximum extent practicable, is the same as the 
guarantee percentage required under subpara-
graph (F) of section 7(a)(2) of the Small Busi-
ness Act (15 U.S.C. 636(a)(2)), as added by 
section 190002 of this division. 
(D) Loan forgiveness under terms and con-
ditions that, to the maximum extent prac-
ticable, are the same as the terms and condi-
tions for loan forgiveness under section 190005 
of this division. 
(d) ADDITIONAL REGULATIONS GENERALLY.—The 
Secretary of the Treasury may issue regulations and guid-
ance as may be necessary to carry out the purposes of 
this section. 
(e) CERTIFICATION.—As a condition of receiving a 
loan under this section, a borrower shall certify under 
terms acceptable to the Secretary of the Treasury that the 
borrower— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01033
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1034 
(1) does not have an application pending for a 
loan under section 7(a) of the Small Business Act 
(15 U.S.C. 636(a)); and 
(2) has not received such a loan during the pe-
riod beginning on February 15, 2020 and ending on 
December 31, 2020. 
(f) PROGRAM ADMINISTRATION.—Under the infra-
structure of the Department of the Treasury and with 
guidance from the Secretary of the Treasury, the Adminis-
trator shall administer the program established under this 
section, including the making and purchasing of guaran-
tees on loans under the program, until 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. 
(g) CRIMINAL PENALTIES.—A loan under this sec-
tion shall be deemed to be a loan under the Small Business 
Act (15 U.S.C. 631 et seq.) for purposes of section 16 
of such Act (15 U.S.C. 645). 
SEC. 190009. EMERGENCY ECONOMIC INJURY GRANTS FOR 
ADDITIONAL COVERED ENTITIES. 
(a) IN GENERAL.—The Administrator of the Small 
Business Administration shall provide grants to additional 
covered entities that have suffered a substantial economic 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01034
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1035 
injury (as defined in section 7(b)(2) of the Small Business 
Act (15 U.S.C. 636(b)(2))), directly or indirectly, as a re-
sult of the public health emergency declared because of 
COVID–19. 
(b) ADDITIONAL COVERED ENTITY DEFINED.—The 
term ‘‘additional covered entity’’ means— 
(1) a business concern that employs not more 
than 500 employees per physical location of the busi-
ness concern and that is assigned a North American 
Industry Classification System code beginning with 
71; 72; 44; 45; and 812930; 
(2) a small business concern (as defined under 
section 3 of the Small Business Act (15 U.S.C. 
632)); and 
(3) if such person was in operation on or before 
January 31, 2020— 
(A) a individual who operates under a sole 
proprietorship or as an independent contractor; 
(B) a cooperative that employs not more 
than 500 employees per physical location of the 
cooperative; 
(C) an ESOP (as defined in section 
3(q)(6) of the Small Business Act (15 U.S.C. 
632(q)(6))) that employs not more than 500 
employees per physical location of the ESOP; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01035
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1036 
(D) an organization serving veterans or 
members of the Armed Forces (as defined in 
section 501(c)(19) of the Internal Revenue 
Code of 1986, that is exempt from taxation 
under subsection (a) of such section); 
(E) a private non-profit organization that 
employs not more than 500 employees per phys-
ical location of the organization; or 
(F) a start-up small business concern that 
employs not more than 500 employees per phys-
ical location of the concern. 
(c) PROCESS.—The Administrator shall use the exist-
ing direct loan application process administered under sec-
tion 7(b) of the Small Business Act (15 U.S.C. 636(b)) 
to disburse grant funds, to greatest extent possible, within 
3 days after receiving an application from an additional 
covered entity. 
(d) VERIFICATION.—Before disbursing amounts 
under this subsection, the Administrator shall verify that 
the applicant is an additional covered entity. 
(e) EXEMPTION FROM AFFILIATION RULES.—For 
the purposes of this section, the Administrator of the 
Small Business Administration shall suspend the applica-
tion of the affiliation rules of the Administration during 
the period beginning on January 31, 2020 and ending on 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01036
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1037 
September 30, 2021, except that individual affiliates may 
not exceed the current small business size standard for 
the industry in which the affiliate operates, and any group 
of affiliates may not receive more than 3 times the max-
imum allowable grant amount under subsection (f). 
(f) AMOUNT OF GRANT.—The amount of a grant pro-
vided under this section shall be not more than $10,000. 
(g) USE OF FUNDS.—An additional covered entity 
that receives a grant under this section may use the grant 
funds to address the direct effects of the COVID–19 pan-
demic, including— 
(1) payroll support, including paid sick, med-
ical, or family leave and costs related to the continu-
ation of health care benefits; 
(2) maintaining payroll to retain employees dur-
ing business disruptions or substantial slowdowns; 
(3) meeting increased costs to obtain materials 
unavailable from the original source of the additional 
covered entity due to interrupted supply chains; 
(4) making payments under a lease or mortgage 
loan, or a contract for utility services, related to a 
place of operation of the additional covered entity; 
(5) repaying obligations that cannot be met due 
to revenue losses; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01037
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1038 
(6) other expenses, as deemed appropriate by 
the Administrator. 
(h) ELIGIBILITY FOR ADDITIONAL ASSISTANCE.—An 
additional covered entity that receives a grant under this 
section may also apply for a loan under subsections (a) 
or (b) of section 7 of the Small Business Act (15 U.S.C. 
636). 
(i) PROCEDURES.—The Administrator shall establish 
procedures to verify and document the compliance of an 
additional covered entity that receives a grant under this 
section with the requirements under this section in order 
to prevent waste, fraud, and abuse of such grant funds. 
(j) REPORT.—Not later than March 31, 2022, the 
Administrator of the Small Business Administration shall 
submit to Congress a report that includes— 
(1) the number of grants made under this sec-
tion, disaggregated by the number of grants made— 
(A) in an amount less than or equal to 
$1,000; 
(B) in an amount greater than $2,000 but 
less than or equal to $3,000; 
(C) in an amount greater than $3,000 but 
less than or equal to $4,000; 
(D) in an amount greater than $4,000 but 
less than or equal to $5,000; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01038
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1039 
(E) in an amount greater than $5,000 but 
less than or equal to $6,000; 
(F) in an amount greater than $6,000 but 
less than or equal to $7,000; 
(G) in an amount greater than $7,000 but 
less than or equal to $8,000; 
(H) in an amount greater than $8,000 but 
less than or equal to $9,000; and 
(I) in an amount greater than $9,000 but 
less than or equal to $10,000; 
(2) the average amount of a grant award; 
(3) an analysis of the program established 
under this section and recommendations for im-
provement; 
(4) the average time from receipt of an applica-
tion to approval of grant under this section; and 
(5) the average time from approval of grant to 
disbursement of grant funds. 
(k) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated $100,000,000,000 to the 
Administrator to carry out this section. 
(l) TERMINATION.—The authority to carry out grants 
under this section shall terminate on September 30, 2021. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01039
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1040 
SEC. 190010. RESOURCES AND SERVICES IN LANGUAGES 
OTHER THAN ENGLISH. 
(a) IN GENERAL.—The Administrator shall provide 
the resources and services made available by the Adminis-
tration to small business concerns in the 10 most com-
monly spoken languages, other than English, in the 
United States, which shall include Mandarin, Cantonese, 
Japanese, and Korean. 
(b) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to the Administrator 
$25,000,000 to carry out this section. 
SEC. 190011. SUBSIDY FOR CERTAIN LOAN PAYMENTS. 
(a) DEFINITION OF COVERED LOAN.—In this sec-
tion, the term ‘‘covered loan’’ means a loan that is— 
(1) guaranteed by the Administration under— 
(A) section 7(a) of the Small Business Act 
(15 U.S.C. 636(a)), including a loan made 
under the Community Advantage Pilot Program 
of the Administration; or 
(B) title V of the Small Business Invest-
ment Act of 1958 (15 U.S.C. 695 et seq.); or 
(2) made by an intermediary to a small busi-
ness concern using loans or grants received under 
section 7(m) of the Small Business Act (15 U.S.C. 
636(m)). 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01040
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1041 
(b) SENSE OF CONGRESS.—It is the sense of Con-
gress that— 
(1) all borrowers are adversely affected by 
COVID–19; 
(2) relief payments by the Administration are 
appropriate for all borrowers; and 
(3) in addition to the relief provided under this 
division, the Administration should encourage lend-
ers to provide payment deferments, when appro-
priate, and to extend the maturity of covered loans, 
so as to avoid balloon payments or any requirement 
for increases in debt payments resulting from 
deferments provided by lenders during the period of 
the national emergency declared by the President 
under the National Emergencies Act (50 U.S.C. 
1601 et seq.) with respect to the Coronavirus Dis-
ease 2019 (COVID–19). 
(c) PRINCIPAL AND INTEREST PAYMENTS.— 
(1) IN GENERAL.—The Administrator shall pay 
the principal, interest, and any associated fees that 
are owed on a covered loan in a regular servicing 
status— 
(A) with respect to a covered loan made 
before the date of enactment of this Act and 
not on deferment, for the 6-month period begin-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01041
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1042 
ning with the next payment due on the covered 
loan; 
(B) with respect to a covered loan made 
before the date of enactment of this Act and on 
deferment, for the 6-month period beginning 
with the next payment due on the covered loan 
after the deferment period; and 
(C) with respect to a covered loan made 
during the period beginning on the date of en-
actment of this Act and ending on the date that 
is 6 months after such date of enactment, for 
the 6-month period beginning with the first 
payment due on the covered loan. 
(2) TIMING OF PAYMENT.—The Administrator 
shall begin making payments under paragraph (1) 
on a covered loan not later than 30 days after the 
date on which the first such payment is due. 
(3) APPLICATION OF PAYMENT.—Any payment 
made by the Administrator under paragraph (1) 
shall be applied to the covered loan such that the 
borrower is relieved of the obligation to pay that 
amount. 
(d) OTHER
REQUIREMENTS.—The Administrator 
shall— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01042
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1043 
(1) communicate and coordinate with the Fed-
eral Deposit Insurance Corporation, the Office of the 
Comptroller of the Currency, and State bank regu-
lators to encourage those entities to not require 
lenders to increase their reserves on account of re-
ceiving payments made by the Administrator under 
subsection (c); 
(2) waive statutory limits on maximum loan 
maturities for any covered loan durations where the 
lender provides a deferral and extends the maturity 
of covered loans during the 1-year period following 
the date of enactment of this Act; and 
(3) when necessary to provide more time be-
cause of the potential of higher volumes, travel re-
strictions, and the inability to access some properties 
during the COVID–19 pandemic, extend lender site 
visit requirements to— 
(A) not more than 60 days (which may be 
extended at the discretion of the Administra-
tion) after the occurrence of an adverse event, 
other than a payment default, causing a loan to 
be classified as in liquidation; and 
(B) not more than 90 days after a pay-
ment default. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01043
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1044 
(e) RULE OF CONSTRUCTION.—Nothing in this sec-
tion may be construed to limit the authority of the Admin-
istrator to make payments pursuant to subsection (c) with 
respect to a covered loan solely because the covered loan 
has been sold in the secondary market. 
(f) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to the Administrator 
$16,800,000,000 to carry out this section. 
SEC. 190012. TEMPORARY FEE REDUCTIONS. 
(a) PURPOSE.—The purpose of the section is to waive 
borrower and lender fees on loans, including a permanent 
fix to waive fees for veterans and their spouses. 
(b) ADMINISTRATIVE FEE WAIVER.— 
(1) IN GENERAL.—During the period beginning 
on the date of enactment of this Act and ending on 
September 30, 2021, and to the extent that the cost 
of such elimination or reduction of fees is offset by 
appropriations, with respect to each loan guaranteed 
under section 7(a) of the Small Business Act (15 
U.S.C. 636(a)) (including a recipient of assistance 
under the Community Advantage Pilot Program of 
the Administration) for which an application is ap-
proved or pending approval on or after the date of 
enactment of this Act, the Administrator shall— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01044
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1045 
(A) in lieu of the fee otherwise applicable 
under section 7(a)(23)(A) of the Small Busi-
ness Act (15 U.S.C. 636(a)(23)(A)), collect no 
fee or reduce fees to the maximum extent pos-
sible; and 
(B) in lieu of the fee otherwise applicable 
under section 7(a)(18)(A) of the Small Busi-
ness Act (15 U.S.C. 636(a)(18)(A)), collect no 
fee or reduce fees to the maximum extent pos-
sible. 
(2) APPLICATION OF FEE ELIMINATIONS OR RE-
DUCTIONS.—To the extent that amounts are made 
available to the Administrator for the purpose of fee 
eliminations or reductions under paragraph (1), the 
Administrator shall— 
(A) first use any amounts provided to 
eliminate or reduce fees paid by small business 
borrowers under clauses (i) through (iii) of sec-
tion 7(a)(18)(A) of the Small Business Act (15 
U.S.C. 636(a)(18)(A)), to the maximum extent 
possible; and 
(B) then use any amounts provided to 
eliminate or reduce fees under 7(a)(23)(A) of 
the 
Small 
Business 
Act 
(15 
U.S.C. 
636(a)(23)(A)). 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01045
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1046 
(c) EXCEPTION TO GUARANTEE FEE WAIVER FOR 
VETERANS.—Section 7(a)(31)(G) of the Small Business 
Act (15 U.S.C. 636(a)(31)(G)) is amended— 
(1) by striking clause (ii); and 
(2) by redesignating clause (iii) as clause (ii). 
(d) TEMPORARY FEE ELIMINATION FOR THE 504 
LOAN PROGRAM.— 
(1) IN GENERAL.—During the period beginning 
on the date of enactment of this section and ending 
on September 30, 2021, and to the extent the cost 
of such elimination in fees is offset by appropria-
tions, with respect to each project or loan guaran-
teed by the Administrator pursuant to title V of the 
Small Business Investment Act of 1958 (15 U.S.C. 
695 et seq.) for which an application is approved or 
pending approval on or after the date of enactment 
of this section— 
(A) the Administrator shall, in lieu of the 
fee otherwise applicable under section 503(d)(2) 
of the Small Business Investment Act of 1958 
(15 U.S.C. 697(d)(2)), collect no fee; and 
(B) a development company shall, in lieu 
of the processing fee described under section 
120.971(a)(1) of title 13, Code of Federal Reg-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01046
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1047 
ulations (relating to fees paid by borrowers), or 
any successor thereto, collect no fee. 
(2) REIMBURSEMENT FOR WAIVED FEES.— 
(A) IN GENERAL.—To the extent that the 
cost of such payments is offset by appropria-
tions, the Administrator shall reimburse each 
development company that does not collect a 
processing fee pursuant to paragraph (1)(B). 
(B) AMOUNT.—The payment to a develop-
ment company under subparagraph (A) shall be 
in an amount equal to 1.5 percent of the net 
debenture proceeds for which the development 
company does not collect a processing fee pur-
suant to paragraph (1)(B). 
SEC. 190013. GUARANTEE AMOUNTS. 
(a) PURPOSE.—The purpose of this section is to in-
crease loan guarantee amounts in order to mitigate risk 
for lenders and keep credit flowing, including an emphasis 
on underserved borrowers. 
(b) 7(A) LOAN GUARANTEES.— 
(1) IN
GENERAL.—Section 7(a)(2)(A) of the 
Small Business Act (15 U.S.C. 636(a)(2)(A)) is 
amended by striking ‘‘), such participation by the 
Administration shall be equal to’’ and all that fol-
lows through the period at the end and inserting ‘‘or 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01047
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1048 
the Community Advantage Pilot Program of the Ad-
ministration), such participation by the Administra-
tion shall be equal to 90 percent of the balance of 
the financing outstanding at the time of disburse-
ment of the loan.’’. 
(2) TERMINATION.—Effective September 30, 
2021, section 7(a)(2)(A) of the Small Business Act 
(15 U.S.C. 636(a)(2)(A)), as amended by paragraph 
(1), is amended to read as follows: 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraphs (B), (D), and (E), in an agree-
ment to participate in a loan on a deferred 
basis under this subsection (including a loan 
made under the Preferred Lenders Program), 
such participation by the Administration shall 
be equal to— 
‘‘(i) 75 percent of the balance of the 
financing outstanding at the time of dis-
bursement of the loan, if such balance ex-
ceeds $150,000; or 
‘‘(ii) 85 percent of the balance of the 
financing outstanding at the time of dis-
bursement of the loan, if such balance is 
less than or equal to $150,000.’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01048
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1049 
(c) EXPRESS LOAN GUARANTEE AMOUNTS
AND 
LOAN SIZE INCREASES.— 
(1) 
TEMPORARY
MODIFICATION.—Section 
7(a)(31) of the Small Business Act (15 U.S.C. 
636(a)(31)) is amended— 
(A) in subparagraph (A)(iv), by striking 
‘‘with a guaranty rate of not more than 50 per-
cent.’’ and inserting the following: ‘‘with a 
guarantee rate— 
‘‘(I) for a loan in an amount less 
than or equal to $350,000, of not 
more than 90 percent; and 
‘‘(II) for a loan in an amount 
greater than $350,000, of not more 
than 75 percent.’’; and 
(B) in subparagraph (D), by striking 
‘‘$350,000’’ and inserting ‘‘$1,000,000’’. 
(2) INCREASE
IN
AVAILABILITY.—Effective 
September 30, 2021, section 7(a)(31) of the Small 
Business Act (15 U.S.C. 636(a)(31)), as amended 
by paragraph (1), is amended— 
(A) in subparagraph (A)(iv), by striking 
‘‘guarantee rate’’ and all that follows through 
the period at the end and inserting ‘‘guarantee 
rate of not more than 50 percent.’’; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01049
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1050 
(B) in subparagraph (D), by striking 
‘‘$1,000,000’’ and inserting ‘‘$500,000’’. 
SEC. 190014. MAXIMUM LOAN AMOUNT AND PROGRAM LEV-
ELS FOR 7(a) LOANS. 
(a) PURPOSE.—The purpose of this section is to tem-
porarily increase the maximum loan size in order to ex-
pand the reach of this long-term capital. 
(b) MAXIMUM LOAN AMOUNT.—During the period 
beginning on the date of enactment of this section and 
ending on September 30, 2021, with respect to any loan 
guaranteed under section 7(a) of the Small Business Act 
(15 U.S.C. 636(a)) for which an application is approved 
or pending approval on or after the date of enactment of 
this section, the maximum loan amount shall be 
$10,000,000. 
(c) PROGRAM LEVELS.—During each of fiscal years 
2020 and 2021, commitments for general business loans 
authorized under section 7(a) of the Small Business Act 
(15 U.S.C. 636(a)) shall not exceed $75,000,000,000. 
(d) COLLATERAL REQUIREMENTS.—During the pe-
riod beginning on the date of enactment of this section 
and ending September 30, 2021, with respect to each loan 
guaranteed under section 7(a) of the Small Business Act 
(15 U.S.C. 636(a))— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01050
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1051 
(1) no collateral shall be required on loans of 
$100,000 and less made under this section; and 
(2) the Administration shall establish appro-
priate collateral standards for loans over $100,000 
made under this section except that when a loan 
over $350,000 is not fully secured by business as-
sets, the Administration shall not require that loan 
guarantors as described in subparagraph (3) pledge 
personally owned assets including personal resi-
dences and other personally owned real estate as ad-
ditional collateral on the loan. 
(e) PERSONAL GUARANTEE.—During the period be-
ginning on the date of enactment of this section and end-
ing September 30, 2021, with respect to each loan guaran-
teed under section 7(a) of the Small Business Act (15 
U.S.C. 636(a)), no personal guarantee shall be required 
on loans to cooperatives. 
SEC. 190015. MAXIMUM LOAN AMOUNT FOR 504 LOANS. 
(a) PURPOSE.—The purpose of this section is to 
make refinancing of fixed assets more flexible for small 
business concerns seeking immediate financing and relief 
from the COVID–19 crisis. 
(b) TEMPORARY INCREASE.—During the period be-
ginning on the date of enactment of this section and end-
ing on September 30, 2021, with respect to each project 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01051
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1052 
or loan guaranteed by the Administrator pursuant to title 
V of the Small Business Investment Act of 1958 (15 
U.S.C. 695 et seq.) for which an application is approved 
or pending approval on or after the date of enactment of 
this section, the maximum portion of a loan that is backed 
by the CDC shall be $10,000,000. 
(c) PERMANENT INCREASE FOR SMALL MANUFAC-
TURERS.—Effective 
on 
October 
1, 
2021, 
section 
502(2)(A)(iii) of the Small Business Investment Act of 
1958 (15 U.S.C. 696(2)(A)(iii)) is amended by striking 
‘‘$5,500,000’’ and inserting ‘‘$10,000,000’’. 
(d) REFINANCING NOT INVOLVING EXPANSIONS.— 
(1) IN GENERAL.—Section 502(7) of the Small 
Business Investment Act of 1958 (15 U.S.C. 
696(7)) is amended by adding at the end the fol-
lowing: 
‘‘(C) REFINANCING
NOT
INVOLVING
EX-
PANSIONS.— 
‘‘(i) DEFINITIONS.—In this subpara-
graph— 
‘‘(I) the term ‘borrower’ means a 
small business concern that submits 
an application to a development com-
pany for financing under this sub-
paragraph; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01052
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1053 
‘‘(II) the term ‘eligible fixed 
asset’ means tangible property relat-
ing to which the Administrator may 
provide financing under this section; 
and 
‘‘(III) the term ‘qualified debt’ 
means indebtedness— 
‘‘(aa) that— 
‘‘(AA) was incurred not 
less than 2 years before the 
date of the application for 
assistance under this sub-
paragraph; 
‘‘(BB) is a commercial 
loan; 
‘‘(CC) the proceeds of 
which were used to acquire 
an eligible fixed asset; 
‘‘(DD) was incurred for 
the benefit of the small busi-
ness concern; and 
‘‘(EE) is collateralized 
by eligible fixed assets; and 
‘‘(bb) for which the borrower 
has been current on all payments 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01053
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1054 
for not less than 1 year before 
the date of the application. 
‘‘(ii) AUTHORITY.—A project that 
does not involve the expansion of a small 
business concern may include the refi-
nancing of qualified debt if— 
‘‘(I) the amount of the financing 
is not more than 90 percent of the 
value of the collateral for the financ-
ing, except that, if the appraised value 
of the eligible fixed assets serving as 
collateral for the financing is less than 
the amount equal to 125 percent of 
the amount of the financing, the bor-
rower may provide additional cash or 
other collateral to eliminate any defi-
ciency; 
‘‘(II) the borrower has been in 
operation for all of the 2-year period 
ending on the date of the loan; 
‘‘(III) the financing will provide a 
substantial benefit to the borrower 
when prepayment penalties, financing 
fees, and other financing costs are ac-
counted for; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01054
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1055 
‘‘(IV) for a financing for which 
the Administrator determines there 
will be an additional cost attributable 
to the refinancing of the qualified 
debt, the borrower agrees to pay a fee 
in an amount equal to the anticipated 
additional cost. 
‘‘(iii) FINANCING FOR BUSINESS EX-
PENSES.— 
‘‘(I) FINANCING
FOR
BUSINESS 
EXPENSES.—The Administrator may 
provide financing to a borrower that 
receives financing that includes a refi-
nancing of qualified debt under clause 
(ii), in addition to the refinancing 
under clause (ii), to be used solely for 
the payment of business expenses. 
‘‘(II) APPLICATION FOR FINANC-
ING.—An application for financing 
under subclause (I) shall include— 
‘‘(aa) a specific description 
of the expenses for which the ad-
ditional financing is requested; 
and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01055
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1056 
‘‘(bb) an itemization of the 
amount of each expense. 
‘‘(III) 
CONDITION
ON
ADDI-
TIONAL FINANCING.—A borrower may 
not use any part of the financing 
under this clause for non-business 
purposes. 
‘‘(iv) LOANS BASED ON JOBS.— 
‘‘(I) JOB CREATION AND RETEN-
TION GOALS.— 
‘‘(aa) IN
GENERAL.—The 
Administrator may provide fi-
nancing under this subparagraph 
for a borrower that meets the job 
creation goals under subsection 
(d) or (e) of section 501. 
‘‘(bb) ALTERNATE JOB RE-
TENTION
GOAL.—The Adminis-
trator may provide financing 
under this subparagraph to a 
borrower that does not meet the 
goals described in item (aa) in an 
amount that is not more than the 
product obtained by multiplying 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01056
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1057 
the number of employees of the 
borrower by $75,000. 
‘‘(II) NUMBER OF EMPLOYEES.— 
For purposes of subclause (I), the 
number of employees of a borrower is 
equal to the sum of— 
‘‘(aa) the number of full- 
time employees of the borrower 
on the date on which the bor-
rower applies for a loan under 
this subparagraph; and 
‘‘(bb) the product obtained 
by multiplying— 
‘‘(AA) the number of 
part-time employees of the 
borrower on the date on 
which the borrower applies 
for a loan under this sub-
paragraph; by 
‘‘(BB) the quotient ob-
tained by dividing the aver-
age number of hours each 
part time employee of the 
borrower works each week 
by 40. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01057
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1058 
‘‘(v) 
NONDELEGATION.—Notwith-
standing section 508(e), the Administrator 
may not permit a premier certified lender 
to approve or disapprove an application for 
assistance under this subparagraph. 
‘‘(vi) TOTAL
AMOUNT
OF
LOANS.— 
The Administrator may provide not more 
than a total of $7,500,000,000 of financ-
ing under this subparagraph for each fiscal 
year.’’. 
(2) CONFORMING
AMENDMENT.—Section 521 
of division E of the Consolidated Appropriations Act, 
2016 (15 U.S.C. 696 note) is repealed. 
(e) 504 DEBT REFINANCE WITH EXPANSION.—Sec-
tion 502(7)(B) of the Small Business Investment Act of 
1948 (15 U.S.C. 696(7)(B)) is amended, in the matter 
preceding clause (i), by striking ‘‘50’’ and inserting 
‘‘100’’. 
‘‘(c) EXPRESS PROGRAM.—An accredited lender cer-
tified company, may, with respect to a covered loan, take 
any of the following actions with respect to the loan: 
‘‘(1) Any action described in any of subpara-
graphs (A) through (J) of subsection (b)(1). 
‘‘(2) If the borrower is not delinquent with re-
spect to the loan payments— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01058
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1059 
‘‘(A) permit the loan to subordinate to a 
new third party lender loan for the purposes of 
refinancing that third party lender loan, except 
that no refinanced amount with respect to the 
loan may be increased in order to provide cash 
to the borrower; 
‘‘(B) permit a new party to assume respon-
sibility for the loan if the original borrower re-
mains on the loan as the original guarantor; 
‘‘(C) obtain force placed insurance cov-
erage for the loan if the borrower has allowed 
insurance coverage with respect to the loan to 
lapse; and 
‘‘(D) endorse an insurance check with re-
spect to the property that is financed by the 
loan in an amount that is less than $100,000. 
‘‘(3) Certify that the loan is compliant with the 
appraisal requirements and environmental policies 
and procedures applicable to the loan under Stand-
ard Operating Procedure 50 10 5(K) of the Admin-
istration, effective April 1, 2019, or any successor 
Standard Operating Procedure. 
‘‘(d) DEFINITIONS.—In this section— 
‘‘(1) the term ‘accredited lender certified com-
pany’ means a certified development company that 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01059
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1060 
meets the requirements under section 507(b), includ-
ing a certified development company that the Ad-
ministration has designated as an accredited lender 
under such section 507(b); and 
‘‘(2) the term ‘covered loan’— 
‘‘(A) means a loan made under subsection 
(a) in an amount that is not more than 
$500,000; and 
‘‘(B) does not include a loan made to a 
borrower that is a franchise that, or is in an in-
dustry that, has a high rate of default, as annu-
ally determined by the Administrator.’’. 
SEC. 190016. ECONOMIC INJURY DISASTER LOANS IM-
PROVEMENTS. 
(a) APPROVAL AND ABILITY TO REPAY FOR CERTAIN 
LOANS.—With respect to a loan made under section 
7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) 
in response to the COVID–19 pandemic that does not ex-
ceed $350,000, the Administrator— 
(1) may approve an applicant based solely on 
the credit score of the applicant and shall not re-
quire an applicant to submit a tax return or a tax 
return transcript for such approval; or 
(2) use alternative appropriate methods to de-
termine an applicant’s ability to repay. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01060
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1061 
(b) EMERGENCIES INVOLVING FEDERAL PRIMARY 
RESPONSIBILITY QUALIFYING FOR SMALL BUSINESS AD-
MINISTRATION
ASSISTANCE.—Section 7(b)(2) of the 
Small Business Act (15 U.S.C. 636(b)(2)) is amended— 
(1) in subparagraph (A), by striking ‘‘or’’ at 
the end; 
(2) in subparagraph (B), by striking ‘‘or’’ at 
the end; 
(3) in subparagraph (C), by striking ‘‘or’’ at 
the end; 
(4) by redesignating subparagraph (D) as sub-
paragraph (E); 
(5) by inserting after subparagraph (C) the fol-
lowing: 
‘‘(D) an emergency involving Federal pri-
mary responsibility determined to exist by the 
President under the section 501(b) of the Rob-
ert T. Stafford Disaster Relief and Emergency 
Assistance Act (42 U.S.C. 5191(b)); or’’; and 
(6) in subparagraph (E), as so redesignated— 
(A) by striking ‘‘or (C)’’ and inserting 
‘‘(C), or (D)’’; 
(B) by striking ‘‘disaster declaration’’ each 
place it appears and inserting ‘‘disaster or 
emergency declaration’’; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01061
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1062 
(C) by striking ‘‘disaster has occurred’’ 
and inserting ‘‘disaster or emergency has oc-
curred’’; 
(D) by striking ‘‘such disaster’’ and insert-
ing ‘‘such disaster or emergency’’; and 
(E) by striking ‘‘disaster stricken’’ and in-
serting ‘‘disaster- or emergency-stricken’’; and 
(7) in the flush matter following subparagraph 
(E) (as so redesignated), by striking the period at 
the end and inserting the following: ‘‘: Provided fur-
ther, that for purposes of subparagraph (D), the Ad-
ministrator shall deem that such an emergency af-
fects each State or subdivision thereof (including 
counties), and that each State or subdivision has 
sufficient economic damage to small business con-
cerns to qualify for assistance under this paragraph 
and the Administrator shall accept applications for 
such assistance immediately.’’. 
(c) CREDIT ELSEWHERE; NO PERSONAL GUAR-
ANTEE.—The flush matter following subparagraph (E) (as 
so redesignated) of section 7(b)(2) of the Small Business 
Act (15 U.S.C. 636(b)(2)) is amended by striking ‘‘That 
no loan or guarantee’’ and all that follows through ‘‘credit 
elsewhere’’ and inserting the following: ‘‘With respect to 
a loan made under this paragraph to a cooperative, the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01062
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1063 
Administrator shall not require a personal guarantee for 
such a loan’’. 
(d) 
ELIGIBILITY
OF
COOPERATIVES.—Section 
7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) 
is amended by striking ‘‘small agricultural cooperative’’ 
and inserting ‘‘small cooperative’’. 
(e) ADDITIONAL AMOUNTS.— 
(1) IN
GENERAL.—The Administrator of the 
Small Business Administration may increase by 20 
percent the amount received by an eligible small 
business concern under section 7(b)(2) of the Small 
Business Act (15 U.S.C. 636(b)(2)) to cover con-
tinuity-of-operations and risk mitigation improve-
ments, including telework capability, offsite record 
keeping, redundancy, the administrative costs of es-
tablishing paid sick leave, and presenteeism preven-
tion. 
(2) DEFINITION.—In this section, the term ‘‘el-
igible small business concern’’ means a small busi-
ness concern that— 
(A) meets the applicable size standard es-
tablished under section 3 of the Small Business 
Act (15 U.S.C. 632); and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01063
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1064 
(B) is receiving assistance under section 
7(b)(2) of the Small Business Act (15 U.S.C. 
636(b)(2)) related to COVID–19. 
(f) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to the Administrator to 
carry out the loan program under section 7(b)(2) of the 
Small Business Act (15 U.S.C. 636(b)(2))— 
(1) $177,000,000 for administration costs; and 
(2) $25,000,000,000 to provide loans or other 
assistance. 
SEC. 
190017. 
RECOVERY 
ASSISTANCE 
FOR 
MICRO-
BUSINESSES. 
(a) PURPOSE.—The purpose of this section is to allow 
lenders to deploy more capital, give borrowers more time 
to repay, increase rural lending, and cut technical assist-
ance red tape. 
(b) LOANS TO INTERMEDIARIES.— 
(1) IN GENERAL.—Section 7(m) of the Small 
Business Act (15 U.S.C. 636(m)) is amended— 
(A) in paragraph (3)(C)— 
(i) by striking ‘‘and $6,000,000’’ and 
inserting ‘‘$10,000,000, in the aggre-
gate,’’; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01064
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1065 
(ii) by inserting before the period at 
the end the following: ‘‘, and $4,500,000 in 
any of those remaining years’’; 
(B) in paragraph (4)— 
(i) in subparagraph (A), by striking 
‘‘subparagraph (C)’’ each place that term 
appears and inserting ‘‘subparagraphs (C) 
and (G)’’; 
(ii) in subparagraph (C), by amending 
clause (i) to read as follows: 
‘‘(i) IN
GENERAL.—In addition to 
grants made under subparagraph (A) or 
(G), each intermediary shall be eligible to 
receive a grant equal to 5 percent of the 
total outstanding balance of loans made to 
the intermediary under this subsection if— 
‘‘(I) the intermediary provides 
not less than 25 percent of its loans 
to small business concerns located in 
or owned by one or more residents of 
an economically distressed area; or 
‘‘(II) the intermediary has a 
portfolio of loans made under this 
subsection— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01065
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1066 
‘‘(aa) 
that 
averages 
not 
more than $10,000 during the 
period of the intermediary’s par-
ticipation in the program; or 
‘‘(bb) of which not less than 
25 percent is serving rural areas 
during 
the 
period 
of 
the 
intermediary’s participation in 
the program.’’; and 
(iii) by adding at the end the fol-
lowing: 
‘‘(G) GRANT AMOUNTS BASED ON APPRO-
PRIATIONS.—In any fiscal year in which the 
amount appropriated to make grants under 
subparagraph (A) is sufficient to provide to 
each intermediary that receives a loan under 
paragraph (1)(B)(i) a grant of not less than 25 
percent of the total outstanding balance of 
loans made to the intermediary under this sub-
section, the Administration shall make a grant 
under subparagraph (A) to each intermediary 
of not less than 25 percent and not more than 
30 percent of that total outstanding balance for 
the intermediary.’’; and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01066
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1067 
(C) by striking paragraph (7) and insert-
ing the following: 
‘‘(7) PROGRAM FUNDING FOR MICROLOANS.— 
Under the program authorized by this subsection, 
the Administration may fund, on a competitive basis, 
not more than 300 intermediaries.’’. 
(2) ADJUSTMENT TO MICROLOAN LIMITS.—Ef-
fective on October 1, 2021, section 7(m)(3)(C) of 
the Small Business Act (15 U.S.C. 636(m)(3)(C)), 
as amended by paragraph (1)(A), is further amend-
ed— 
(A) by striking ‘‘$10,000,000’’ and by in-
serting ‘‘$7,000,000’’ and 
(B) by striking ‘‘$4,500,000’’ and insert-
ing ‘‘$3,000,000’’. 
(c) TEMPORARY WAIVER OF TECHNICAL ASSISTANCE 
GRANTS MATCHING REQUIREMENTS AND FLEXIBILITY 
ON PRE- AND POST-LOAN ASSISTANCE.—During the pe-
riod beginning on the date of enactment of this section 
and ending on September 30, 2021, the Administration 
shall waive— 
(1) the requirement to contribute non-Federal 
funds under section 7(m)(4)(B) of the Small Busi-
ness Act (15 U.S.C. 636(m)(4)(B)); and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01067
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1068 
(2) the limitation on amounts allowed to be ex-
pended to provide information and technical assist-
ance under clause (i) of section 7(m)(4)(E) of the 
Small Business Act (15 U.S.C. 636(m)(4)(E)) and 
entering into third party contracts to provide tech-
nical assistance under clause (ii) of such section 
7(m)(4)(E). 
(d) TEMPORARY DURATION
OF LOANS
TO BOR-
ROWERS.— 
(1) IN GENERAL.—During the period beginning 
on the date of enactment of this section and ending 
on September 30, 2021, the duration of a loan made 
by an eligible intermediary under section 7(m) of the 
Small Business Act (15 U.S.C. 636(m))— 
(A) to an existing borrower may be ex-
tended to not more than 8 years; and 
(B) to a new borrower may be not more 
than 8 years. 
(2) REVERSION.—On and after October 1, 
2021, the duration of a loan made by an eligible 
intermediary to a borrower under section 7(m) of 
the Small Business Act (15 U.S.C. 636(m)) shall be 
7 years or such other amount established by the Ad-
ministrator. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01068
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1069 
(e) PROGRAM LEVELS.—Section 20 of the Small 
Business Act (15 U.S.C. 631 note) is amended by adding 
at the end the following: 
‘‘(h) MICROLOAN PROGRAM.—For each of fiscal 
years 2021 through 2025, the Administration is author-
ized to make— 
‘‘(1) $80,000,000 in technical assistance grants, 
as provided in section 7(m); and 
‘‘(2) $110,000,000 in direct loans, as provided 
in section 7(m).’’. 
SEC. 190018. ADDITIONAL LEVERAGE FOR SMALL BUSI-
NESSES AFFECTED BY THE COVID–19 OUT-
BREAK. 
(a) IN GENERAL.—Section 303(b)(2) of the Small 
Business Investment Act of 1958 (15 U.S.C. 683(b)(2)) 
is amended by adding at the end the following: 
‘‘(E) ADDITIONAL LEVERAGE BASE ON IN-
VESTMENT.— 
‘‘(i) EXCLUSION
OF
AMOUNTS.—In 
calculating the outstanding leverage of a 
company for purposes of subparagraph (A) 
or (B), the Administrator shall exclude the 
amount of leverage outstanding to covered 
small businesses, not to exceed an amount 
equal to $100,000,000, if the amount ex-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01069
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1070 
cluded is used exclusively for working cap-
ital purposes. 
‘‘(ii) COVERED SMALL BUSINESS DE-
FINED.—In this subparagraph, the term 
‘covered small business’ means a small 
business concern is located in a State or 
territory of the United States with at least 
one confirmed or presumed positive case of 
COVID–19.’’. 
(b) APPLICATION.—Notwithstanding any other provi-
sion of law, for purposes of additional leverage requested 
under subparagraph (E) of section 303(b)(2) of the Small 
Business Investment Act of 1958, as added by subsection 
(a), the Administrator shall approve or deny such request 
within 14 calendar days of receipt by the Administrator 
of the request. 
SEC. 190019. STATE TRADE EXPANSION PROGRAM. 
(a) REIMBURSEMENT.—The Administrator of the 
Small Business Administration shall reimburse any recipi-
ent of assistance under section 22(l) of the Small Business 
Act (15 U.S.C. 649(l)) for financial losses relating to a 
foreign trade mission or a trade show exhibition that was 
cancelled solely due to a public health emergency declared 
due to COVID–19. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01070
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1071 
(b) BUDGET PLAN REVISIONS.—Section 22(l)(3) of 
the Small Business Act (15 U.S.C. 649(l)(3)) is amend-
ed— 
(1) in subparagraph (D)(i), by inserting ‘‘, in-
cluding a budget plan for use of funds awarded 
under this subsection’’ before the period at the end; 
and 
(2) by adding at the end the following new sub-
paragraph: 
‘‘(E) BUDGET PLAN REVISIONS.— 
‘‘(i) IN GENERAL.—A State receiving 
a grant under this subsection may revise 
the budget plan of the State submitted 
under subparagraph (D) after the dis-
bursal of grant funds if— 
‘‘(I) the revision complies with al-
lowable uses of grant funds under this 
subsection; and 
‘‘(II) such State submits notifica-
tion of the revision to the Associate 
Administrator. 
‘‘(ii) EXCEPTION.—If a revision under 
clause (i) reallocates 10 percent or more of 
the amounts described in the budget plan 
of the State submitted under subparagraph 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01071
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1072 
(D), the State may not implement the re-
vised budget plan without the approval of 
the Associate Administrator, unless the As-
sociate Administrator fails to approve or 
deny the revised plan within 10 days after 
receipt of such revised plan.’’. 
SEC. 190020. 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 division and the amendments made by this 
division without regard to the notice requirements under 
section 553(b) of title 5, United States Code. 
DIVISION T—REVENUE 
PROVISIONS 
SEC. 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This division may be cited as the 
‘‘Emergency Pension Plan Relief Act of 2020’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this division is as follows: 
Sec. 1. Short title; table of contents. 
TITLE I—HEALTH-RELATED TAX RELIEF 
Sec. 101. Payroll credit for COVID–19 charity care provided by hospitals. 
Sec. 102. Payroll credit for COVID–19 hospital facility expenditures. 
Sec. 103. Restoration of limitations on reconciliation of tax credits for coverage 
under a qualified health plan with advance payments of such 
credit. 
Sec. 104. Improving affordability by reducing premium costs for consumers. 
TITLE II—ECONOMIC STIMULUS 
Subtitle A—Economic Assistance Payments 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01072
Fmt 6652
Sfmt 6211
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1073 
Sec. 201. 2020 economic assistance payments to individuals. 
Sec. 202. Economic assistance payments to certain Federal beneficiaries. 
Subtitle B—Earned Income Tax Credit 
Sec. 211. Strengthening the earned income tax credit for individuals with no 
qualifying children. 
Sec. 212. Taxpayer eligible for childless earned income credit in case of quali-
fying children who fail to meet certain identification require-
ments. 
Sec. 213. Credit allowed in case of certain separated spouses. 
Sec. 214. Elimination of disqualified investment income test. 
Sec. 215. Application of earned income tax credit in possessions of the United 
States. 
Subtitle C—Child Tax Credit 
Sec. 221. Child tax credit fully refundable for 2020 through 2025. 
Sec. 222. Application of child tax credit in possessions. 
Sec. 223. Increased child tax credit for children who have not attained age 6. 
Subtitle D—Dependent Care Assistance 
Sec. 231. Refundability and enhancement of child and dependent care tax cred-
it. 
Sec. 232. Increase in exclusion for employer-provided dependent care assist-
ance. 
Subtitle E—Net Operating Losses 
Sec. 241. Five-year carryback of net operating losses and temporary suspension 
of taxable income limitation. 
Subtitle F—Employee Retention Credit 
Sec. 251. Payroll credit for certain employers affected by COVID–19. 
Subtitle G—Credits for Paid Sick and Family Leave 
Sec. 261. Extension of credits. 
Sec. 262. Repeal of reduced rate of credit for certain leave. 
Sec. 263.
Federal, State, and local governments allowed tax credits for paid 
sick and paid family and medical leave. 
Sec. 264. Credits not allowed to certain large employers. 
Sec. 265. Effective date. 
TITLE III—ADMINISTRATIVE 
Sec. 301. Delay of certain deadlines. 
TITLE IV—RETIREMENT PROVISIONS 
Sec. 401. Special rules for use of retirement funds. 
Sec. 402. Single-employer plan funding rules. 
Sec. 403. Temporary waiver of required minimum distribution rules for certain 
retirement plans and accounts. 
Sec. 404. Modification of special rules for minimum funding standards for com-
munity newspaper plans. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01073
Fmt 6652
Sfmt 6211
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1074 
Sec. 405. Application of cooperative and small employer charity pension plan 
rules to certain charitable employers whose primary exempt 
purpose is providing services with respect to mothers and chil-
dren. 
Sec. 406. Extended amortization for single employer plans. 
Sec. 407. Extension of pension funding stabilization percentages for single em-
ployer plans. 
TITLE V—REHABILITATION FOR MULTIEMPLOYER PENSIONS 
Sec. 501. Short title. 
Sec. 502. Pension Rehabilitation Administration; establishment; powers. 
Sec. 503. Pension Rehabilitation Trust Fund. 
Sec. 504. Loan program for multiemployer defined benefit plans. 
Sec. 505. Coordination with withdrawal liability and funding rules. 
Sec. 506. Issuance of Treasury bonds. 
Sec. 507. Reports of plans receiving pension rehabilitation loans. 
Sec. 508. PBGC financial assistance. 
TITLE I—HEALTH-RELATED TAX 
RELIEF 
SEC. 101. PAYROLL CREDIT FOR COVID–19 CHARITY CARE 
PROVIDED BY HOSPITALS. 
(a) IN GENERAL.—In the case of an employer which 
is an eligible hospital, there shall be allowed as a credit 
against the tax imposed by section 3111(a) of the Internal 
Revenue Code of 1986 for each calendar quarter an 
amount equal to 90 percent of the COVID-related charity 
care furnished by such hospital during such calendar quar-
ter. 
(b) LIMITATIONS AND REFUNDABILITY.— 
(1) CREDIT LIMITED TO CERTAIN EMPLOYMENT 
TAXES.—The credit allowed by subsection (a) with 
respect to any calendar quarter shall not exceed the 
tax imposed by section 3111(a) of such Code for 
such calendar quarter (reduced by any credits al-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01074
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1075 
lowed under subsection (e) or (f) of section 3111 of 
such Code, or under section 7001 or 7003 of the 
Families First Coronavirus Response Act, for such 
quarter) on the wages paid with respect to the em-
ployment of all employees of the employer. 
(2) REFUNDABILITY OF EXCESS CREDIT.— 
(A) IN GENERAL.—If the amount of the 
credit under subsection (a) exceeds the limita-
tion of paragraph (1) for any calendar quarter, 
such excess shall be treated as an overpayment 
that shall be refunded under sections 6402(a) 
and 6413(b) of such Code. 
(B) TREATMENT OF PAYMENTS.—For pur-
poses of section 1324 of title 31, United States 
Code, any amounts due to an employer under 
this paragraph shall be treated in the same 
manner as a refund due from a credit provision 
referred to in subsection (b)(2) of such section. 
(c) ELIGIBLE HOSPITAL.—For purposes of this sec-
tion, the term ‘‘eligible hospital’’ means a subsection (d) 
hospital as defined in section 1886(d)(1)(B) of the Social 
Security Act (42 U.S.C. 1395ww(d)(1)(B)) or a critical 
access hospital (as defined in section 1861(mm)(1) of such 
Act (42 U.S.C. 1395x(mm)(1)). 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01075
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1076 
(d) COVID-RELATED CHARITY CARE.—For pur-
poses of this section— 
(1) IN GENERAL.—The term ‘‘COVID-related 
charity care’’ means, with respect to any eligible 
hospital, so much of the specified charity care fur-
nished by such hospital as relates to items and serv-
ices furnished in the United States for the treatment 
of COVID–19 or a related condition. 
(2) SPECIFIED
CHARITY
CARE.—The term 
‘‘specified charity care’’ means, with respect to an 
eligible hospital, the cost of charity care of such hos-
pital as defined for purposes of the Medicare Cost 
Report Worksheet S–10. 
(e) SPECIAL RULES.— 
(1) DENIAL OF DOUBLE BENEFIT.—For pur-
poses of chapter 1 of the Internal Revenue Code of 
1986, any deduction otherwise allowable under such 
chapter for any COVID-related charity care shall be 
reduced by the amount of the credit allowed under 
this section with respect to such care. 
(2) DOCUMENTATION.—No credit shall be al-
lowed under this section unless the employer main-
tains such documentation as the Secretary of the 
Treasury (or the Secretary’s delegate) may prescribe 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01076
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1077 
to establish such employer’s eligibility for the credit 
allowed under this section (and the amount thereof). 
(3) ELECTION NOT TO HAVE SECTION APPLY.— 
This section shall not apply with respect to any em-
ployer for any calendar quarter if such employer 
elects (at such time and in such manner as the Sec-
retary of the Treasury (or the Secretary’s delegate) 
may prescribe) not to have this section apply. 
(4) CERTAIN TERMS.—Any term used in this 
section which is also used in chapter 21 of such 
Code shall have the same meaning as when used in 
such chapter. 
(f) REGULATIONS.—The Secretary of the Treasury 
(or the Secretary’s delegate) shall prescribe such regula-
tions or other guidance as may be necessary to carry out 
the purposes of this section, including— 
(1) regulations or other guidance (prescribed 
after consultation with the Secretary of Health and 
Human Services) which identify specific items and 
services which are considered for purposes of sub-
section (d)(1) to be for the treatment of COVID–19 
or a related condition; 
(2) regulations or other guidance to effectuate 
the purposes of the limitations under this section; 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01077
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1078 
(3) regulations or other guidance to minimize 
compliance and record-keeping burdens under this 
section; 
(4) regulations or other guidance providing for 
a waiver of penalties for the failure to deposit taxes 
imposed under section 3111(a) of such Code in an-
ticipation of the allowance of the credit allowed 
under this section; 
(5) regulations or other guidance for recap-
turing the benefit of credits determined under this 
section in cases where there is a subsequent adjust-
ment to the credit determined under subsection (a); 
and 
(6) regulations or other guidance regarding the 
treatment of certified professional employer organi-
zations, as described in section 3511 of such Code. 
(g) APPLICATION OF SECTION.— 
(1) IN GENERAL.—This section shall apply only 
to COVID-related charity care which is furnished 
during the period beginning on February 1, 2020, 
and ending on December 31, 2020. 
(2) TREATMENT OF CERTAIN CARE FURNISHED 
BEFORE
DATE
OF
ENACTMENT.—For purposes of 
this section, any COVID-related charity care which 
is furnished after January 31, 2020, and before the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01078
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1079 
calendar quarter which includes the date of the en-
actment of this Act shall be treated as having been 
furnished in such calendar quarter. 
(h) TRANSFERS TO FEDERAL OLD-AGE AND SUR-
VIVORS INSURANCE TRUST FUND.—There are hereby ap-
propriated to the Federal Old-Age and Survivors Insur-
ance Trust Fund and the Federal Disability Insurance 
Trust Fund established under section 201 of the Social 
Security Act (42 U.S.C. 401) amounts equal to the reduc-
tion in revenues to the Treasury by reason of this section 
(without regard to this subsection). Amounts appropriated 
by the preceding sentence shall be transferred from the 
general fund at such times and in such manner as to rep-
licate to the extent possible the transfers which would have 
occurred to such Trust Fund had this section not been 
enacted. 
(i) COORDINATION WITH DSH PAYMENTS.—Section 
1886(r) of the Social Security Act (42 U.S.C. 1395ww(r)) 
is amended— 
(1) n paragraph (2), by inserting ‘‘subject to 
paragraph (4),’’ before ‘‘for fiscal year 2014’’; and 
(2) by adding at the end the following new 
paragraph: 
‘‘(4) SPECIAL RULE FOR COVID-RELATED CHAR-
ITY CARE.—The Secretary shall, beginning in the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01079
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1080 
first fiscal year in which the factor described in 
paragraph (2)(C) is calculated based on a cost re-
porting period that includes any portion of calendar 
year 2020, exclude the amount of the payroll credit 
for COVID–19 charity care allowed under section 
101(a) of the Emergency Pension Plan Relief Act of 
2020 provided to a subsection (d) hospital, from the 
calculation of such factor.’’. 
SEC. 102. PAYROLL CREDIT FOR COVID–19 HOSPITAL FA-
CILITY EXPENDITURES. 
(a) IN GENERAL.—In the case of an employer which 
is an eligible hospital, there shall be allowed as a credit 
against the tax imposed by section 3111(a) of the Internal 
Revenue Code of 1986 for each calendar quarter an 
amount equal to 90 percent of the COVID–19 hospital 
facility expenditures paid or incurred by such hospital dur-
ing such calendar quarter. 
(b) LIMITATIONS AND REFUNDABILITY.— 
(1) CREDIT LIMITED TO CERTAIN EMPLOYMENT 
TAXES.—The credit allowed by subsection (a) with 
respect to any calendar quarter shall not exceed the 
tax imposed by section 3111(a) of such Code for 
such calendar quarter (reduced by any credits al-
lowed under subsection (e) or (f) of section 3111 of 
such Code, under section 7001 or 7003 of the Fami-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01080
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1081 
lies First Coronavirus Response Act, or under the 
preceding section of this Act, for such quarter) on 
the wages paid with respect to the employment of all 
employees of the employer. 
(2) REFUNDABILITY OF EXCESS CREDIT.— 
(A) IN GENERAL.—If the amount of the 
credit under subsection (a) exceeds the limita-
tion of paragraph (1) for any calendar quarter, 
such excess shall be treated as an overpayment 
that shall be refunded under sections 6402(a) 
and 6413(b) of such Code. 
(B) TREATMENT OF PAYMENTS.—For pur-
poses of section 1324 of title 31, United States 
Code, any amounts due to an employer under 
this paragraph shall be treated in the same 
manner as a refund due from a credit provision 
referred to in subsection (b)(2) of such section. 
(c) ELIGIBLE HOSPITAL.—For purposes of this sec-
tion, the term ‘‘eligible hospital’’ means a subsection (d) 
hospital as defined in section 1886(d)(1)(B) of the Social 
Security Act (42 U.S.C. 1395ww(d)(1)(B)) or a critical 
access hospital (as defined in section 1861(mm)(1) of such 
Act (42 U.S.C. 1395x(mm)(1))). 
(d) COVID–19 HOSPITAL
FACILITY
EXPENDI-
TURES.—For purposes of this section— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01081
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1082 
(1) IN GENERAL.—The term ‘‘COVID–19 hos-
pital facility expenditures’’ means amounts paid or 
incurred by an eligible hospital for— 
(A) the purchase or construction of a tem-
porary structure in the United States for speci-
fied COVID-related purposes, 
(B) the lease of any structure in the 
United States for specified COVID-related pur-
poses if the term of such lease is not greater 
than 2 years, 
(C) the retrofitting of any existing perma-
nent structure in the United States for specified 
COVID-related purposes, and 
(D) any property for use in a structure de-
scribed in subparagraph (A), (B), or (C) for 
specified COVID-related purposes if such prop-
erty is of a character which is subject to the al-
lowance for depreciation provided in section 167 
of the Internal Revenue Code of 1986. 
(2) SPECIFIED
COVID-RELATED
PURPOSES.— 
The term ‘‘specified COVID-related purposes’’ 
means the diagnosis, prevention, or treatment of 
COVID–19 or a related condition. 
(3) TEMPORARY STRUCTURE.—The term ‘‘tem-
porary structure’’ means a tent or such other struc-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01082
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1083 
ture which by its design or nature is not suitable to 
serve as a permanent structure. 
(4) 
COORDINATION
WITH
GOVERNMENT 
GRANTS.—The COVID–19 hospital facility expendi-
tures taken into account under this section by any 
eligible hospital shall be reduced by any amounts 
provided by any Federal, State, or local government 
for purposes of making or reimbursing such expendi-
tures. 
(e) SPECIAL RULES.— 
(1) DENIAL OF DOUBLE BENEFIT.—For pur-
poses of the Internal Revenue Code of 1986— 
(A) the basis of any property with respect 
to which a credit is allowed under this section 
shall be reduced by the amount of such credit, 
and 
(B) such reduction shall be taken into ac-
count before determining the amount of any de-
duction, or allowance for depreciation or amor-
tization, with respect to such property for pur-
poses of such Code. 
(2) RECAPTURE OF GAIN.—If an eligible hos-
pital disposes of any property with respect to which 
a credit was allowed under this section and any gain 
is determined on such disposition under section 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01083
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1084 
1001 of such Code, the tax imposed under chapter 
1 of such Code on such hospital shall be increased 
by the amount of such gain. The preceding sentence 
shall apply without regard to whether such eligible 
hospital is otherwise exempt from, or not subject to, 
the taxes otherwise imposed under such chapter. 
(3) DOCUMENTATION.—No credit shall be al-
lowed under this section unless the employer main-
tains such documentation as the Secretary of the 
Treasury (or the Secretary’s delegate) may prescribe 
to establish such employer’s eligibility for the credit 
allowed under this section (and the amount thereof). 
(4) ELECTION NOT TO HAVE SECTION APPLY.— 
This section shall not apply with respect to any em-
ployer for any calendar quarter if such employer 
elects (at such time and in such manner as the Sec-
retary of the Treasury (or the Secretary’s delegate) 
may prescribe) not to have this section apply. 
(5) CERTAIN TERMS.—Any term used in this 
section which is also used in chapter 21 of such 
Code shall have the same meaning as when used in 
such chapter. 
(f) REGULATIONS.—The Secretary of the Treasury 
(or the Secretary’s delegate) shall prescribe such regula-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01084
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1085 
tions or other guidance as may be necessary to carry out 
the purposes of this section, including— 
(1) regulations or other guidance to effectuate 
the purposes of the limitations under this section, 
(2) regulations or other guidance to minimize 
compliance and record-keeping burdens under this 
section, 
(3) regulations or other guidance providing for 
a waiver of penalties for the failure to deposit taxes 
imposed under section 3111(a) in anticipation of the 
allowance of the credit allowed under this section, 
(4) regulations or other guidance for recap-
turing the benefit of credits determined under this 
section in cases where there is a subsequent adjust-
ment to the credit determined under subsection (a), 
(5) regulations or other guidance (prescribed 
after consultation with the Secretary of Health and 
Human Services) which identify specific items and 
services which are considered for purposes of sub-
section (d)(2) to be for specified COVID-related pur-
poses, and 
(6) regulations or other guidance regarding the 
treatment of certified professional employer organi-
zations, as described in section 3511 of such Code. 
(g) APPLICATION OF SECTION.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01085
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1086 
(1) IN GENERAL.—This section shall apply only 
to COVID–19 hospital facility expenditures which 
are paid or incurred during the period beginning on 
February 1, 2020, and ending on December 31, 
2020. 
(2) TREATMENT
OF
CERTAIN
EXPENDITURES 
MADE
BEFORE
DATE
OF
ENACTMENT.—For pur-
poses of this section, any COVID–19 hospital facility 
expenditures which are paid or incurred after Janu-
ary 31, 2020, and before the calendar quarter which 
includes the date of the enactment of this Act shall 
be treated as having been furnished in such calendar 
quarter. 
(h) TRANSFERS TO FEDERAL OLD-AGE AND SUR-
VIVORS INSURANCE TRUST FUND.—There are hereby ap-
propriated to the Federal Old-Age and Survivors Insur-
ance Trust Fund and the Federal Disability Insurance 
Trust Fund established under section 201 of the Social 
Security Act (42 U.S.C. 401) amounts equal to the reduc-
tion in revenues to the Treasury by reason of this section 
(without regard to this subsection). Amounts appropriated 
by the preceding sentence shall be transferred from the 
general fund at such times and in such manner as to rep-
licate to the extent possible the transfers which would have 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01086
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1087 
occurred to such Trust Fund had this section not been 
enacted. 
SEC. 103. RESTORATION OF LIMITATIONS ON RECONCILI-
ATION OF TAX CREDITS FOR COVERAGE 
UNDER A QUALIFIED HEALTH PLAN WITH AD-
VANCE PAYMENTS OF SUCH CREDIT. 
(a) IN GENERAL.—Section 36B(f)(2)(B)(i) of the In-
ternal Revenue Code of 1986 is amended to read as fol-
lows: 
‘‘(i) IN GENERAL.—In the case of a 
taxpayer whose household income is less 
than 500 percent of the poverty line for 
the size of the family involved for the tax-
able year, the amount of the increase 
under subparagraph (A) shall in no event 
exceed the applicable dollar amount deter-
mined in accordance with the following 
table (one-half of such amount in the case 
of a taxpayer whose tax is determined 
under section 1(c) for the taxable year): 
‘‘If the household income (expressed as a percent of 
poverty line) is: 
The applicable dollar 
amount is: 
Less than 200% ........................................................
$600 
At least 200% but less than 250% ...........................
$1,000 
At least 250% but less than 300% ...........................
$1,500 
At least 300% but less than 350% ...........................
$2,000 
At least 350% but less than 400% ...........................
$2,500 
At least 400% but less than 450% ...........................
$3,000 
At least 450% but less than 500% ...........................
$3,500.’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01087
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1088 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 104. IMPROVING AFFORDABILITY BY REDUCING PRE-
MIUM COSTS FOR CONSUMERS. 
(a) IN GENERAL.—Section 36B(b)(3)(A) of the In-
ternal Revenue Code of 1986 is amended to read as fol-
lows: 
‘‘(A) APPLICABLE PERCENTAGE.—The ap-
plicable percentage for any taxable year shall be 
the percentage such that the applicable percent-
age for any taxpayer whose household income is 
within an income tier specified in the following 
table shall increase, on a sliding scale in a lin-
ear manner, from the initial premium percent-
age to the final premium percentage specified in 
such table for such income tier: 
‘‘In the case of household 
income (expressed as 
a percent of poverty line) 
within the following income tier: 
The initial 
premium 
percentage is— 
The final 
premium 
percentage is— 
Over 100.0 percent up to 150.0 percent ....
0.0 
0.0
150.0 percent up to 200.0 percent .............
0.0 
3.0
200.0 percent up to 250.0 percent .............
3.0 
4.0
250.0 percent up to 300.0 percent .............
4.0 
6.0
300.0 percent up to 400.0 percent .............
6.0 
8.5
400.0 percent and higher ...........................
8.5 
8.5’’. 
(b) 
CONFORMING
AMENDMENT.—Section 
36B(c)(1)(A) of the Internal Revenue Code of 1986 is 
amended by striking ‘‘but does not exceed 400 percent’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01088
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1089 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2020. 
TITLE II—ECONOMIC STIMULUS 
Subtitle A—Economic Assistance 
Payments 
SEC. 201. 2020 ECONOMIC ASSISTANCE PAYMENTS TO INDI-
VIDUALS. 
(a) IN GENERAL.—Subchapter B of chapter 65 of the 
Internal Revenue Code of 1986 is amended by adding at 
the end the following new section: 
‘‘SEC. 6431. 2020 ECONOMIC ASSISTANCE PAYMENTS TO IN-
DIVIDUALS. 
‘‘(a) IN GENERAL.—In the case of an eligible indi-
vidual, there shall be allowed as a credit against the tax 
imposed by subtitle A for the first taxable year beginning 
in 2020 an amount equal to the economic assistance 
amount determined for such taxable year. 
‘‘(b) ECONOMIC ASSISTANCE AMOUNT.—For pur-
poses of this section, the term ‘economic assistance 
amount’ means, with respect to any taxpayer for any tax-
able year, the sum of— 
‘‘(1) $1,500 ($3,000 in the case of a joint re-
turn), plus 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01089
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1090 
‘‘(2) $1,500 multiplied by the number of quali-
fying children (within the meaning of section 24(c)) 
of the taxpayer for such taxable year (not in excess 
of 3 such children). 
‘‘(c) PHASEOUT BASED ON ADJUSTED GROSS IN-
COME.— 
‘‘(1) IN GENERAL.—The amount of the credit 
allowed by subsection (a) (determined without re-
gard to this subsection and subsection (f)) shall be 
reduced (but not below zero) by the amount which 
bears the same ratio to such amount as— 
‘‘(A) the excess (if any) of the adjusted 
gross income for the taxpayer’s first taxable 
year beginning in 2020 over the applicable 
phaseout amount, bears to 
‘‘(B) 50 percent of the applicable phaseout 
amount. 
‘‘(2) APPLICABLE
PHASEOUT
AMOUNT.—For 
purposes of this subsection, the term ‘applicable 
phaseout amount’ means— 
‘‘(A) $150,000 in the case of a joint return 
or a surviving spouse (as defined in section 
2(a)), 
‘‘(B) $112,500 in the case of a head of 
household (as defined in section 2(b)), and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01090
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1091 
‘‘(C) $75,000 in any other case. 
‘‘(3) ADJUSTED GROSS INCOME.—For purposes 
of this subsection (other than this paragraph), the 
term ‘adjusted gross income’ means adjusted gross 
income determined without regard to sections 911, 
931, and 933. 
‘‘(d) ELIGIBLE INDIVIDUAL.—For purposes of this 
section, the term ‘eligible individual’ means any individual 
other than— 
‘‘(1) any nonresident alien individual, 
‘‘(2) any individual with respect to whom a de-
duction under section 151 is allowable to another 
taxpayer for a taxable year beginning in the cal-
endar year in which the individual’s taxable year be-
gins, and 
‘‘(3) an estate or trust. 
‘‘(e) SPECIAL RULES.— 
‘‘(1) CREDIT TREATED AS REFUNDABLE.—The 
credit allowed by subsection (a) shall be treated as 
allowed by subpart C of part IV of subchapter A of 
chapter 1. 
‘‘(2) TREATMENT
OF
CREDIT
AND
ADVANCE 
PAYMENTS.—For purposes of section 1324 of title 
31, United States Code, any credit under subsection 
(a) and any credit or refund under subsection (g) 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01091
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1092 
shall be treated in the same manner as a refund due 
from a credit provision referred to in subsection 
(b)(2) of such section. 
‘‘(3) 
IDENTIFICATION
NUMBER
REQUIRE-
MENT.—An individual shall not be taken into ac-
count in determining the amount of the credit al-
lowed under subsection (a) unless the taxpayer iden-
tification number of such individual is included on 
the return of tax for the taxable year. 
‘‘(f) COORDINATION WITH ADVANCE REFUNDS OF 
CREDIT.— 
‘‘(1) REDUCTION OF REFUNDABLE CREDIT.— 
The amount of the credit which would (but for this 
paragraph) be allowable under subsection (a) shall 
be reduced (but not below zero) by the aggregate re-
funds and credits made or allowed to the taxpayer 
under subsection (g) and the aggregate payments to 
which the taxpayer (or a qualifying child (within the 
meaning of section 24(c)) of the taxpayer) is entitled 
under section 202 of the COVID-19 Tax Relief Act 
of 2020. Any failure to so reduce the credit shall be 
treated as arising out of a mathematical or clerical 
error and assessed according to section 6213(b)(1). 
‘‘(2) RECAPTURE OF PAYMENTS IN EXCESS OF 
REFUNDABLE CREDIT.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01092
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1093 
‘‘(A) IN GENERAL.—If the sum of the ag-
gregate refunds and credits made or allowed to 
the taxpayer under subsection (g) and the ag-
gregate payments to which the taxpayer (or a 
qualifying child (within the meaning of section 
24(c)) of the taxpayer) is entitled under section 
202 of the COVID-19 Tax Relief Act of 2020 
exceeds the credit allowed under subsection (a) 
(determined without regard to paragraph (1)), 
the tax imposed under chapter 1 for the tax-
payer’s first taxable year beginning in 2020 
shall be increased by the amount of such excess. 
‘‘(B) ELECTION
TO
SPREAD
RECAPTURE 
OVER 3 YEARS.—In the case of a taxpayer who 
elects (at such time and in such manner as the 
Secretary may provide) the application of this 
subparagraph, subparagraph (A) shall not apply 
and the tax imposed under chapter 1 shall be 
increased by 1⁄3 of the excess described in sub-
paragraph (A) in the taxpayer’s first taxable 
year beginning in 2020 and in each of the 2 im-
mediately following taxable years. 
‘‘(C) CERTAIN TAXPAYERS NOT SUBJECT 
TO RECAPTURE.—In the case of a taxpayer that 
is not required to file a return with respect to 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01093
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1094 
income taxes under subtitle A for the taxpayer’s 
first taxable year beginning in 2020, subpara-
graph (A) shall not apply. 
‘‘(3) JOINT RETURNS.—In the case of a refund 
or credit made or allowed under subsection (g) with 
respect to a joint return, half of such refund or cred-
it shall be treated as having been made or allowed 
to each individual filing such return. 
‘‘(g) ADVANCE REFUNDS AND CREDITS.— 
‘‘(1) IN GENERAL.—Each taxpayer who was an 
eligible individual for such taxpayer’s first taxable 
year beginning in 2019 shall be treated as having 
made a payment against the tax imposed by chapter 
1 for such first taxable year in an amount equal to 
the economic assistance amount (as defined sub-
section (b)) determined for the applicable prior tax-
able year. 
‘‘(2) APPLICABLE PRIOR TAXABLE YEAR.—For 
purposes of this subsection, the term ‘applicable 
prior taxable year’ means— 
‘‘(A) the taxpayer’s first taxable year be-
ginning in 2019, or 
‘‘(B) if information regarding such taxable 
year is not available to the Secretary (deter-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01094
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1095 
mined without regard to subsection (h)(1)), the 
taxpayer’s first taxable year beginning in 2018. 
‘‘(3) TIMING OF PAYMENTS.— 
‘‘(A) IN GENERAL.—The Secretary shall, 
subject to the provisions of this title, refund or 
credit any overpayment attributable to para-
graph (1) as rapidly as possible. 
‘‘(B) TERMINATION OF PAYMENT AUTHOR-
ITY.—No refund or credit shall be made or al-
lowed under this subsection after December 31, 
2020. 
‘‘(4) COORDINATION WITH PAYMENTS TO SO-
CIAL SECURITY ADMINISTRATION RECIPIENTS.—This 
subsection shall not apply with respect to any tax-
payer entitled to a payment under section 202 of the 
COVID-19 Tax Relief Act of 2020. 
‘‘(5) NO INTEREST.—No interest shall be al-
lowed on any overpayment attributable to this sec-
tion. 
‘‘(6) 
INFORMATION
PROVIDED
TO
TAX-
PAYERS.—As soon as practicable, the Secretary 
shall— 
‘‘(A) make best efforts to inform every tax-
payer that amounts received pursuant to this 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01095
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1096 
subsection may be subject to recapture under 
subsection (f)(2), and 
‘‘(B) develop an Internet tool allowing tax-
payers to determine the amount of such recap-
ture using input from the taxpayer. 
‘‘(h) REGULATIONS.—The Secretary shall prescribe 
such regulations or other guidance as may be necessary 
or appropriate to carry out the purposes of this section, 
including— 
‘‘(1) regulations or other guidance providing 
taxpayers with respect to whom information for nei-
ther taxable year described in subsection (g)(2) is 
available to the Secretary the opportunity to provide 
the Secretary information sufficient to allow the Sec-
retary to determine the amount of the credit or re-
fund for such taxpayer under subsection (g), and 
‘‘(2) regulations or other guidance providing for 
the proper treatment of joint returns and taxpayers 
with qualifying children if any individual taken into 
account under this section with respect to such joint 
return or by such taxpayer is an eligible individual 
(as defined in section 202(b) of the COVID-19 Tax 
Relief Act of 2020. 
‘‘(i) OUTREACH.—The Secretary shall carry out a ro-
bust and comprehensive outreach program to ensure that 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01096
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1097 
all taxpayers described in subsection (h)(1) learn of their 
eligibility for the advance refunds and credits under sub-
section (g); are advised of the opportunity to receive such 
advance refunds and credits as provided under subsection 
(h)(1); and are provided assistance in applying for such 
advance refunds and credits. In conducting such outreach 
program, the Secretary shall coordinate with other govern-
ment, State, and local agencies; federal partners; and com-
munity-based nonprofit organizations that regularly inter-
face with such taxpayers.’’. 
(b) TREATMENT OF CERTAIN POSSESSIONS.— 
(1) PAYMENTS TO POSSESSIONS WITH MIRROR 
CODE TAX SYSTEMS.—The Secretary of the Treas-
ury shall pay to each possession of the United States 
which has a mirror code tax system amounts equal 
to the loss (if any) to that possession by reason of 
the amendments made by this section. Such 
amounts shall be determined by the Secretary of the 
Treasury based on information provided by the gov-
ernment of the respective possession. 
(2) PAYMENTS TO OTHER POSSESSIONS.—The 
Secretary of the Treasury shall pay to each posses-
sion of the United States which does not have a mir-
ror code tax system amounts estimated by the Sec-
retary of the Treasury as being equal to the aggre-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01097
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1098 
gate benefits (if any) that would have been provided 
to residents of such possession by reason of the 
amendments made by this section if a mirror code 
tax system had been in effect in such possession. 
The preceding sentence shall not apply unless the re-
spective possession has a plan, which has been ap-
proved by the Secretary of the Treasury, under 
which such possession will promptly distribute such 
payments to its residents. 
(3) COORDINATION
WITH
CREDIT
ALLOWED 
AGAINST UNITED STATES INCOME TAXES.—No cred-
it shall be allowed against United States income 
taxes under section 6431 of the Internal Revenue 
Code of 1986 (as amended by this section), nor shall 
any credit or refund be made or allowed under sub-
section (g) of such section, to any person— 
(A) to whom a credit is allowed against 
taxes imposed by the possession by reason of 
the amendments made by this section, or 
(B) who is eligible for a payment under a 
plan described in paragraph (2). 
(4) MIRROR CODE TAX SYSTEM.—For purposes 
of this subsection, the term ‘‘mirror code tax sys-
tem’’ means, with respect to any possession of the 
United States, the income tax system of such posses-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01098
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1099 
sion if the income tax liability of the residents of 
such possession under such system is determined by 
reference to the income tax laws of the United 
States as if such possession were the United States. 
(c) ADMINISTRATIVE PROVISIONS.— 
(1) 
DEFINITION
OF
DEFICIENCY.—Section 
6211(b)(4)(A) of the Internal Revenue Code of 1986 
is amended by striking ‘‘168(k)(4)’’ and inserting 
‘‘168(k)(4), and 6431’’. 
(2) MATHEMATICAL OR CLERICAL ERROR AU-
THORITY.—Section 6213(g)(2) of such Code is 
amended— 
(A) by inserting ‘‘or section 6431 (relating 
to economic assistance payments to individ-
uals)’’ before the comma at the end of subpara-
graph (H), and 
(B) by striking ‘‘or 32’’ in subparagraph 
(L) and inserting ‘‘32, or 6431’’. 
(3) EXEMPTION FROM OFFSETS.—So much of 
any overpayment, credit, refund, or payment as is 
attributable to the application of section 6431 of the 
Internal Revenue Code of 1986 shall not be subject 
to reduction, offset, or levy under section 6331 or 
subsections (c), (d), (e), or (f) of section 6402 of 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01099
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1100 
such Code or under section 3716 or 3720A of title 
31, United States Code. 
(4) TREATMENT OF CREDIT AND ADVANCE PAY-
MENTS.—For purposes of section 1324 of title 31, 
United States Code, any credit under section 
6431(a) of the Internal Revenue Code of 1986, any 
credit or refund under section 6431(g) of such Code, 
and any payment under subsection (b) of this sec-
tion, shall be treated in the same manner as a re-
fund due from a credit provision referred to in sub-
section (b)(2) of such section 1324. 
(d) APPROPRIATIONS TO CARRY OUT THIS SEC-
TION.— 
(1) IN GENERAL.—Immediately upon the enact-
ment of this Act, the following sums are appro-
priated, out of any money in the Treasury not other-
wise appropriated, for the fiscal year ending Sep-
tember 30, 2020— 
(A) For an additional amount for ‘‘Depart-
ment of the Treasury—Bureau of Fiscal Serv-
ices—Salaries and Expenses’’, $78,650,000, to 
remain available until September 30, 2021. 
(B) For an additional amount for ‘‘Depart-
ment of the Treasury—Internal Revenue Serv-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01100
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1101 
ice—Taxpayer Services’’, $148,700,000, to re-
main available until September 30, 2021. 
(2) REPORTS.—No later than 15 days after en-
actment of this Act, the Secretary of the Treasury 
shall submit a plan to the Committees on Appropria-
tions of the House of Representatives and the Sen-
ate detailing the expected use of the funds provided 
by paragraph (1). Beginning 90 days after enact-
ment of this Act, the Secretary of the Treasury shall 
submit a quarterly report to the Committees on Ap-
propriations of the House of Representatives and the 
Senate detailing the actual expenditure of funds pro-
vided by paragraph (1) and the expected expenditure 
of such funds in the subsequent quarter. 
(3) TRANSFER AUTHORITY.—In addition to the 
authority provided in section 101 of title I of divi-
sion C of Public Law 116–93, the funds provided to 
the Internal Revenue Service in paragraph (1) may 
be transferred among accounts of the Internal Rev-
enue Service to prevent, prepare for, and respond to 
coronavirus. On the date of any such transfer, the 
Commissioner shall notify the Committees on Appro-
priations of the House of Representatives and Sen-
ate of such transfer. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01101
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1102 
SEC. 202. ECONOMIC ASSISTANCE PAYMENTS TO CERTAIN 
FEDERAL BENEFICIARIES. 
(a) PAYMENT AUTHORITIES AND AMOUNTS.— 
(1) BASE AMOUNT PAYMENTS.—Subject to sub-
section (c), the Secretary of the Treasury shall dis-
burse a base amount payment to each individual 
who, as of the date of the enactment of this Act, is 
an eligible individual. Such payment shall be in the 
amount that would be paid under section 6431(b) of 
the Internal Revenue Code of 1986 for a single tax-
payer with no qualifying children. 
(2) 
INCOME
SUPPLEMENT
AMOUNT
PAY-
MENTS.—Subject to subsection (c), the Secretary of 
the Treasury shall disburse income supplement 
amount payments to each individual who, as of the 
date of the enactment of this Act, is an eligible indi-
vidual. The total of such payments to each such in-
dividual 
shall 
equal 
the 
amount 
defined 
in 
6431(c)(1)(B)(ii) for a single taxpayer with no 
qualifying children. 
(b) ELIGIBLE INDIVIDUAL.— 
(1) IN GENERAL.—For purposes of subsection 
(a), an ‘‘eligible individual’’ is an individual who, for 
the last month that ends prior to the date of enact-
ment of this Act— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01102
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1103 
(A) is entitled to a social security insur-
ance benefit described in paragraph (2); or 
(B) is eligible for a supplemental security 
income benefit described in paragraph (3). 
(2) SOCIAL SECURITY BENEFIT DESCRIBED.— 
For purposes of paragraph (1), a social security in-
surance benefit described in this paragraph is any 
monthly insurance benefit payable under title II of 
the Social Security Act (42 U.S.C. 401 et seq.) 
(other than child’s insurance benefits payable under 
section 202(d)(1)(B)(i) of such Act (42 U.S.C. 
402(d)(1)(B)(i)), including payments made pursuant 
to subsections (g) or (i)(7) of section 223 of such 
Act (42 U.S.C. 423). 
(3) SUPPLEMENTAL
SECURITY
INCOME
BEN-
EFIT DESCRIBED.—For purposes of paragraph (1), 
a supplemental security income benefit described in 
this paragraph is a monthly benefit payable under 
title XVI of the Social Security Act (42 U.S.C. 1381 
et seq.) (other than a benefit to an individual de-
scribed 
in 
section 
1611(e)(1)(B) 
or 
section 
1614(a)(3)(C) 
of 
such 
Act 
(42 
U.S.C. 
1382(e)(1)(B); 1382c(a)(3)(C)), including— 
(A) payments made pursuant to section 
1619(a) (42 U.S.C. 1382h) or subsections 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01103
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1104 
(a)(4), (a)(7), or (p)(7) of section 1631 (42 
U.S.C. 1383) of such Act; and 
(B) State supplementary payments of the 
type referred to in section 1616(a) of such Act 
(42 U.S.C. 1382e(a)) (or payments of the type 
described in section 212(a) of Public Law 93– 
66) which are paid by the Commissioner under 
an agreement referred to in such section 
1616(a) (or section 212(a) of Public Law 93– 
66). 
(4) LIMITATION.—Notwithstanding paragraph 
(1), no individual shall be considered an eligible indi-
vidual for purposes of subsection (a) if, for the last 
month that ends prior to the date of enactment of 
this Act— 
(A) the individual is entitled to a social se-
curity insurance benefit described in paragraph 
(2) that was not payable for such month by rea-
son of subsection (x) or (y) of section 202 the 
Social Security Act (42 U.S.C. 402) or section 
1129A of such Act (42 U.S.C. 1320a–8a); or 
(B) the individual is eligible for a supple-
mental security income benefit described in 
paragraph (3) that was not payable for such 
month by reason of subsection (e)(1)(A) or 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01104
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1105 
(e)(4) of section 1611 (42 U.S.C. 1382) or sec-
tion 1129A of such Act (42 U.S.C. 1320a–8a). 
(c) LIMITATIONS ON PAYMENTS.— 
(1) RESIDENCY
REQUIREMENT.—A payment 
under this section shall be made only to individuals 
who reside in 1 of the 50 States, the District of Co-
lumbia, Puerto Rico, Guam, the United States Vir-
gin Islands, American Samoa, or the Northern Mar-
iana Islands, or who are utilizing a foreign or do-
mestic Army Post Office or Fleet Post Office ad-
dress. For purposes of the preceding sentence, the 
determination of the individual’s residence shall be 
based on the address of record, as of the date of cer-
tification under subsection (d) for a payment under 
this section, under a program specified in paragraph 
(b). 
(2) TIMING AND MANNER OF PAYMENTS.— 
(A) TIMING OF BASE AMOUNT PAYMENT.— 
The Secretary of the Treasury shall commence 
disbursing payments under subsection (a)(1) at 
the earliest practicable date but in no event 
later than 90 days after the date of enactment 
of this Act. 
(B) TIMING
OF
INCOME
SUPPLEMENT 
AMOUNT
PAYMENTS.—The Secretary of the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01105
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1106 
Treasury shall disburse payments under sub-
section (a)(2) on a periodic basis in coordina-
tion with the timing of refunds and credits 
made under section 6431(h)(3)(B) of the Inter-
nal Revenue Code of 1986. 
(C) ELECTRONIC
DISBURSEMENT.—The 
Secretary of the Treasury may disburse any 
payment electronically to an individual in such 
manner as if such payment were a benefit pay-
ment made to such individual under the appli-
cable program described in paragraph (2) or (3) 
of subsection (b). 
(D) NOTICES.—The Commissioner of So-
cial Security shall send one or more notices, as 
appropriate, in connection with such payments. 
Such notices shall include the information de-
scribed in section 6431(h)(7)(A) of the Internal 
Revenue Code of 1986 relating to such pay-
ments being subject to recapture. 
(d) IDENTIFICATION OF RECIPIENTS.—The Commis-
sioner of Social Security shall certify the individuals enti-
tled to receive payments under this section and provide 
the Secretary of the Treasury with the information needed 
to disburse such payments. A certification of an individual 
for payment shall be unaffected by any subsequent deter-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01106
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1107 
mination or redetermination of the individual’s entitlement 
to, or eligibility for, a benefit specified in paragraph (2) 
or (3) of subsection (b). 
(e) TREATMENT OF PAYMENTS.— 
(1) PAYMENT DISREGARDED FOR PURPOSES OF 
ALL
FEDERAL
AND
FEDERALLY
ASSISTED
PRO-
GRAMS.—A payment under subsection (a) shall not 
be regarded as income or as a resource for any 
month for purposes of determining the eligibility of 
the recipient (or the recipient’s spouse or family) for 
benefits or assistance, or the amount or extent of 
benefits or assistance, under any Federal program 
or under any State or local program financed in 
whole or in part with Federal funds. 
(2) PAYMENT NOT CONSIDERED INCOME FOR 
PURPOSES OF TAXATION.—A payment under sub-
section (a) shall not be considered as gross income 
for purposes of the Internal Revenue Code of 1986. 
(3) PAYMENTS
PROTECTED
FROM
ASSIGN-
MENT.—The 
provisions 
of 
sections 
207 
and 
1631(d)(1) of the Social Security Act (42 U.S.C. 
407, 1383(d)(1)) shall apply to any payment made 
under subsection (a) as if such payment was a ben-
efit payment made to such individual under the ap-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01107
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1108 
plicable program described in paragraph (2) or (3) 
of subsection (b). 
(4) PAYMENTS PROTECTED FROM OFFSET AND 
RECLAMATION.—Notwithstanding paragraph (3), a 
payment under subsection (a) shall not be subject to 
any reduction, offset, or levy pursuant to— 
(A) section 3716 or 3720A of title 31, 
United States Code; 
(B) section 6331 of the Internal Revenue 
Code of 1986; or 
(C) subsection (c), (d), (e), or (f) of section 
6402 of the Internal Revenue Code of 1986. 
(f) PAYMENT TO REPRESENTATIVE PAYEES.— 
(1) IN GENERAL.—In any case in which an in-
dividual who is entitled to a payment under sub-
section (a) and whose benefit described in subsection 
(b) is paid to a representative payee, the payment 
under subsection (a) shall be made to the individ-
ual’s representative payee and the entire payment 
shall be used only for the benefit of the individual 
who is entitled to the payment. 
(2) ENFORCEMENT.—Section 1129(a)(3) of the 
Social Security Act (42 U.S.C. 1320a–8(a)(3)) shall 
apply to any payment under subsection (a) in the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01108
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1109 
same manner as such section applies to a payment 
under title II or XVI of such Act. 
(g) COORDINATION.—The Secretary of the Treasury 
and the Commissioner of Social Security shall coordinate 
with respect to any payments made under this section or 
section 6431(h) of the Internal Revenue Code of 1986. 
(h) APPROPRIATION.—Out of any money in the 
Treasury not otherwise appropriated, there is appro-
priated to the Commissioner of Social Security such sums 
as may be necessary for payments to individuals certified 
by the Commissioner of Social Security as entitled to re-
ceive a payment under this section, to remain available 
until expended. 
Subtitle B—Earned Income Tax 
Credit 
SEC. 211. STRENGTHENING THE EARNED INCOME TAX 
CREDIT FOR INDIVIDUALS WITH NO QUALI-
FYING CHILDREN. 
(a) SPECIAL RULES FOR 2020 AND 2021.—Section 
32 of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subsection: 
‘‘(n) SPECIAL RULES FOR INDIVIDUALS WITHOUT 
QUALIFYING CHILDREN.—In the case of any taxable year 
beginning in 2020 or 2021— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01109
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1110 
‘‘(1) DECREASE IN MINIMUM AGE FOR CRED-
IT.— 
‘‘(A) 
IN
GENERAL.—Subsection 
(c)(1)(A)(ii)(II) shall be applied by substituting 
‘the applicable minimum age’ for ‘age 25’. 
‘‘(B) APPLICABLE
MINIMUM
AGE.—For 
purposes of this paragraph, the term ‘applicable 
minimum age’ means— 
‘‘(i) except as otherwise provided in 
this subparagraph, age 19, 
‘‘(ii) in the case of a full-time student 
(other than a qualified former foster youth 
or a qualified homeless youth), age 25, and 
‘‘(iii) in the case of a qualified former 
foster youth or qualified homeless youth, 
age 18. 
‘‘(C) FULL-TIME STUDENT.—For purposes 
of this paragraph, the term ‘full-time student’ 
means, with respect to any taxable year, an in-
dividual who is an eligible student (as defined 
in section 25A(b)(3)) during at least 5 calendar 
months during the taxable year. 
‘‘(D) 
QUALIFIED
FORMER
FOSTER 
YOUTH.—For purposes of this paragraph, the 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01110
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1111 
term ‘qualified former foster youth’ means an 
individual who— 
‘‘(i) on or after the date that such in-
dividual attained age 14, was in foster care 
provided under the supervision or adminis-
tration of a State or tribal agency admin-
istering (or eligible to administer) a plan 
under part B or part E of the Social Secu-
rity Act (without regard to whether Fed-
eral assistance was provided with respect 
to such child under such part E), and 
‘‘(ii) provides (in such manner as the 
Secretary may provide) consent for State 
and tribal agencies which administer a 
plan under part B or part E of the Social 
Security Act to disclose to the Secretary 
information related to the status of such 
individual as a qualified former foster 
youth. 
‘‘(E) QUALIFIED HOMELESS YOUTH.—For 
purposes of this paragraph, the term ‘qualified 
homeless youth’ means, with respect to any tax-
able year, an individual who— 
‘‘(i) is certified by a local educational 
agency or a financial aid administrator 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01111
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1112 
during such taxable year as being either an 
unaccompanied youth who is a homeless 
child or youth, or as unaccompanied, at 
risk of homelessness, and self-supporting. 
Terms used in the preceding sentence 
which are also used in section 480(d)(1) of 
the Higher Education Act of 1965 shall 
have the same meaning as when used in 
such section, and 
‘‘(ii) provides (in such manner as the 
Secretary may provide) consent for local 
educational agencies and financial aid ad-
ministrators to disclose to the Secretary in-
formation related to the status of such in-
dividual as a qualified homeless youth. 
‘‘(2) INCREASE IN MAXIMUM AGE FOR CRED-
IT.—Subsection (c)(1)(A)(ii)(II) shall be applied by 
substituting ‘age 66’ for ‘age 65’. 
‘‘(3) INCREASE IN CREDIT AND PHASEOUT PER-
CENTAGES.—The table contained in subsection 
(b)(1) shall be applied by substituting ‘15.3’ for 
‘7.65’ each place it appears therein. 
‘‘(4) INCREASE
IN
EARNED
INCOME
AND 
PHASEOUT AMOUNTS.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01112
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1113 
‘‘(A) IN GENERAL.—The table contained in 
subsection (b)(2)(A) shall be applied— 
‘‘(i) by substituting ‘$9,570’ for 
‘$4,220’, and 
‘‘(ii) by substituting ‘$11,310’ for 
‘$5,280’. 
‘‘(B) COORDINATION WITH INFLATION AD-
JUSTMENT.— 
‘‘(i) IN GENERAL.—In the case of any 
taxable year beginning after 2019, the 
$9,570 and $11,310 amounts in subpara-
graph (A) shall each be increased by an 
amount equal to— 
‘‘(I) such dollar amount, multi-
plied by 
‘‘(II) the cost-of-living adjust-
ment determined under section 1(f)(3) 
for the calendar year in which the tax-
able year begins, determined by sub-
stituting ‘2018’ for ‘2016’ in subpara-
graph (A)(ii) thereof. 
‘‘(ii) ROUNDING.—If any increase 
under clause (i) is not a multiple of $10, 
such increase shall be rounded to the near-
est multiple of $10. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01113
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1114 
‘‘(iii) COORDINATION WITH OTHER IN-
FLATION
ADJUSTMENT.—Subsection 
(j) 
shall not apply to any dollar amount speci-
fied in this paragraph.’’. 
(b) INFORMATION RETURN MATCHING.—As soon as 
practicable, the Secretary of the Treasury (or the Sec-
retary’s delegate) shall develop and implement procedures 
for checking an individual’s claim for a credit under sec-
tion 32 of the Internal Revenue Code of 1986, by reason 
of subsection (n)(1) thereof, against any information re-
turn made with respect to such individual under section 
6050S (relating to returns relating to higher education 
tuition and related expenses). 
(c) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 212. TAXPAYER ELIGIBLE FOR CHILDLESS EARNED IN-
COME CREDIT IN CASE OF QUALIFYING CHIL-
DREN WHO FAIL TO MEET CERTAIN IDENTI-
FICATION REQUIREMENTS. 
(a) IN GENERAL.—Section 32(c)(1) of the Internal 
Revenue Code of 1986 is amended by striking subpara-
graph (F). 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01114
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1115 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
SEC. 213. CREDIT ALLOWED IN CASE OF CERTAIN SEPA-
RATED SPOUSES. 
(a) IN GENERAL.—Section 32(d) of the Internal Rev-
enue Code of 1986 is amended— 
(1) by striking ‘‘MARRIED INDIVIDUALS.—In 
the case of’’ and inserting the following: ‘‘MARRIED 
INDIVIDUALS.— 
‘‘(1) IN GENERAL.—In the case of’’, and 
(2) by adding at the end the following new 
paragraph: 
‘‘(2) DETERMINATION OF MARITAL STATUS.— 
For purposes of this section— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), marital status shall be deter-
mined under section 7703(a). 
‘‘(B) SPECIAL
RULE
FOR
SEPARATED 
SPOUSE.—An individual shall not be treated as 
married if such individual— 
‘‘(i) is married (as determined under 
section 7703(a)) and does not file a joint 
return for the taxable year, 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01115
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1116 
‘‘(ii) lives with a qualifying child of 
the individual for more than one-half of 
such taxable year, and 
‘‘(iii)(I) during the last 6 months of 
such taxable year, does not have the same 
principal place of abode as the individual’s 
spouse, or 
‘‘(II) has a decree, instrument, or 
agreement (other than a decree of divorce) 
described in section 121(d)(3)(C) with re-
spect to the individual’s spouse and is not 
a member of the same household with the 
individual’s spouse by the end of the tax-
able year.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 32(c)(1)(A) of such Code is amend-
ed by striking the last sentence. 
(2) Section 32(c)(1)(E)(ii) of such Code is 
amended by striking ‘‘(within the meaning of section 
7703)’’. 
(3) Section 32(d)(1) of such Code, as amended 
by subsection (a), is amended by striking ‘‘(within 
the meaning of section 7703)’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01116
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1117 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
SEC. 214. ELIMINATION OF DISQUALIFIED INVESTMENT IN-
COME TEST. 
(a) IN GENERAL.—Section 32 of the Internal Rev-
enue Code of 1986 is amended by striking subsection (i). 
(b) CONFORMING AMENDMENTS.— 
(1) Section 32(j)(1) of such Code is amended 
by striking ‘‘subsections (b)(2) and (i)(1)’’ and in-
serting ‘‘subsection (b)(2)’’. 
(2) Section 32(j)(1)(B)(i) of such Code is 
amended by striking ‘‘subsections (b)(2)(A) and 
(i)(1)’’ and inserting ‘‘subsection (b)(2)(A)’’. 
(3) Section 32(j)(2) of such Code is amended— 
(A) by striking subparagraph (B), and 
(B) by striking ‘‘ROUNDING.—’’ and all 
that follows through ‘‘If any dollar amount’’ 
and inserting the following: ‘‘ROUNDING.—If 
any dollar amount’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01117
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1118 
SEC. 215. APPLICATION OF EARNED INCOME TAX CREDIT 
IN POSSESSIONS OF THE UNITED STATES. 
(a) IN GENERAL.—Chapter 77 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new section: 
‘‘SEC. 7530. APPLICATION OF EARNED INCOME TAX CREDIT 
TO POSSESSIONS OF THE UNITED STATES. 
‘‘(a) PUERTO RICO.— 
‘‘(1) IN GENERAL.—With respect to calendar 
year 2021 and each calendar year thereafter, the 
Secretary shall, except as otherwise provided in this 
subsection, make payments to Puerto Rico equal 
to— 
‘‘(A) the specified matching amount for 
such calendar year, plus 
‘‘(B) in the case of calendar years 2021 
through 2025, the lesser of— 
‘‘(i) the expenditures made by Puerto 
Rico during such calendar year for edu-
cation efforts with respect to individual 
taxpayers and tax return preparers relat-
ing to the earned income tax credit, or 
‘‘(ii) $1,000,000. 
‘‘(2) REQUIREMENT TO REFORM EARNED IN-
COME TAX CREDIT.—The Secretary shall not make 
any payments under paragraph (1) with respect to 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01118
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1119 
any calendar year unless Puerto Rico has in effect 
an earned income tax credit for taxable years begin-
ning in or with such calendar year which (relative to 
the earned income tax credit which was in effect for 
taxable years beginning in or with calendar year 
2019) increases the percentage of earned income 
which is allowed as a credit for each group of indi-
viduals with respect to which such percentage is sep-
arately stated or determined in a manner designed 
to substantially increase workforce participation. 
‘‘(3) SPECIFIED MATCHING AMOUNT.—For pur-
poses of this subsection— 
‘‘(A) IN
GENERAL.—The term ‘specified 
matching amount’ means, with respect to any 
calendar year, the lesser of— 
‘‘(i) the excess (if any) of— 
‘‘(I) the cost to Puerto Rico of 
the earned income tax credit for tax-
able years beginning in or with such 
calendar year, over 
‘‘(II) the base amount for such 
calendar year, or 
‘‘(ii) the product of 3, multiplied by 
the base amount for such calendar year. 
‘‘(B) BASE AMOUNT.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01119
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1120 
‘‘(i) BASE AMOUNT FOR 2021.—In the 
case of calendar year 2021, the term ‘base 
amount’ means the greater of— 
‘‘(I) the cost to Puerto Rico of 
the earned income tax credit for tax-
able years beginning in or with cal-
endar year 2019 (rounded to the 
nearest multiple of $1,000,000), or 
‘‘(II) $200,000,000. 
‘‘(ii) INFLATION
ADJUSTMENT.—In 
the case of any calendar year after 2021, 
the term ‘base amount’ means the dollar 
amount determined under clause (i) in-
creased by an amount equal to— 
‘‘(I) such dollar amount, multi-
plied by— 
‘‘(II) the cost-of-living adjust-
ment determined under section 1(f)(3) 
for such calendar year, determined by 
substituting ‘calendar year 2020’ for 
‘calendar year 2016’ in subparagraph 
(A)(ii) thereof. 
Any amount determined under this clause 
shall be rounded to the nearest multiple of 
$1,000,000. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01120
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1121 
‘‘(4) RULES RELATED TO PAYMENTS AND RE-
PORTS.— 
‘‘(A) TIMING
OF
PAYMENTS.—The Sec-
retary shall make payments under paragraph 
(1) for any calendar year— 
‘‘(i) after receipt of the report de-
scribed in subparagraph (B) for such cal-
endar year, and 
‘‘(ii) except as provided in clause (i), 
within a reasonable period of time before 
the due date for individual income tax re-
turns (as determined under the laws of 
Puerto Rico) for taxable years which began 
on the first day of such calendar year. 
‘‘(B) ANNUAL REPORTS.—With respect to 
calendar year 2021 and each calendar year 
thereafter, Puerto Rico shall provide to the Sec-
retary a report which shall include— 
‘‘(i) an estimate of the costs described 
in paragraphs (1)(B)(i) and (3)(A)(i)(I) 
with respect to such calendar year, and 
‘‘(ii) a statement of such costs with 
respect to the preceding calendar year. 
‘‘(C) ADJUSTMENTS.— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01121
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1122 
‘‘(i) IN GENERAL.—In the event that 
any estimate of an amount is more or less 
than the actual amount as later deter-
mined and any payment under paragraph 
(1) was determined on the basis of such 
estimate, proper payment shall be made 
by, or to, the Secretary (as the case may 
be) as soon as practicable after the deter-
mination that such estimate was inac-
curate. Proper adjustment shall be made in 
the amount of any subsequent payments 
made under paragraph (1) to the extent 
that proper payment is not made under the 
preceding sentence before such subsequent 
payments. 
‘‘(ii) 
ADDITIONAL
REPORTS.—The 
Secretary may require such additional peri-
odic reports of the information described in 
subparagraph (B) as the Secretary deter-
mines appropriate to facilitate timely ad-
justments under clause (i). 
‘‘(D) 
DETERMINATION
OF
COST
OF 
EARNED INCOME TAX CREDIT.—For purposes 
of this subsection, the cost to Puerto Rico of 
the earned income tax credit shall be deter-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01122
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1123 
mined by the Secretary on the basis of the laws 
of Puerto Rico and shall include reductions in 
revenues received by Puerto Rico by reason of 
such credit and refunds attributable to such 
credit, but shall not include any administrative 
costs with respect to such credit. 
‘‘(E) PREVENTION OF MANIPULATION OF 
BASE AMOUNT.—No payments shall be made 
under paragraph (1) if the earned income tax 
credit as in effect in Puerto Rico for taxable 
years beginning in or with calendar year 2019 
is modified after the date of the enactment of 
this subsection. 
‘‘(b) POSSESSIONS WITH MIRROR CODE TAX SYS-
TEMS.— 
‘‘(1) IN GENERAL.—With respect to calendar 
year 2021 and each calendar year thereafter, the 
Secretary shall, except as otherwise provided in this 
subsection, make payments to the Virgin Islands, 
Guam, and the Commonwealth of the Northern Mar-
iana Islands equal to— 
‘‘(A) 75 percent of the cost to such posses-
sion of the earned income tax credit for taxable 
years beginning in or with such calendar year, 
plus 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01123
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1124 
‘‘(B) in the case of calendar years 2021 
through 2025, the lesser of— 
‘‘(i) the expenditures made by such 
possession during such calendar year for 
education efforts with respect to individual 
taxpayers and tax return preparers relat-
ing to such earned income tax credit, or 
‘‘(ii) $50,000. 
‘‘(2) APPLICATION OF CERTAIN RULES.—Rules 
similar to the rules of subparagraphs (A), (B), (C), 
and (D) of subsection (a)(4) shall apply for purposes 
of this subsection. 
‘‘(c) AMERICAN SAMOA.— 
‘‘(1) IN GENERAL.—With respect to calendar 
year 2021 and each calendar year thereafter, the 
Secretary shall, except as otherwise provided in this 
subsection, make payments to American Samoa 
equal to— 
‘‘(A) the lesser of— 
‘‘(i) 75 percent of the cost to Amer-
ican Samoa of the earned income tax cred-
it for taxable years beginning in or with 
such calendar year, or 
‘‘(ii) $12,000,000, plus 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01124
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1125 
‘‘(B) in the case of calendar years 2021 
through 2025, the lesser of— 
‘‘(i) the expenditures made by Amer-
ican Samoa during such calendar year for 
education efforts with respect to individual 
taxpayers and tax return preparers relat-
ing to such earned income tax credit, or 
‘‘(ii) $50,000. 
‘‘(2) REQUIREMENT TO ENACT AND MAINTAIN 
AN EARNED INCOME TAX CREDIT.—The Secretary 
shall not make any payments under paragraph (1) 
with respect to any calendar year unless American 
Samoa has in effect an earned income tax credit for 
taxable years beginning in or with such calendar 
year which allows a refundable tax credit to individ-
uals on the basis of the taxpayer’s earned income 
which is designed to substantially increase workforce 
participation. 
‘‘(3) INFLATION ADJUSTMENT.—In the case of 
any calendar year after 2021, the $12,000,000 
amount in paragraph (1)(A)(ii) shall be increased by 
an amount equal to— 
‘‘(A) such dollar amount, multiplied by— 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for such calendar 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01125
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1126 
year, determined by substituting ‘calendar year 
2020’ for ‘calendar year 2016’ in subparagraph 
(A)(ii) thereof. 
Any increase determined under this clause shall be 
rounded to the nearest multiple of $100,000. 
‘‘(4) APPLICATION OF CERTAIN RULES.—Rules 
similar to the rules of subparagraphs (A), (B), (C), 
and (D) of subsection (a)(4) shall apply for purposes 
of this subsection. 
‘‘(d) TREATMENT OF PAYMENTS.—For purposes of 
section 1324 of title 31, United States Code, the payments 
under this section shall be treated in the same manner 
as a refund due from a credit provision referred to in sub-
section (b)(2) of such section.’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for chapter 77 of such Code is amended by adding at the 
end the following new item: 
‘‘Sec. 7529. Application of earned income tax credit to possessions of the 
United States.’’. 
Subtitle C—Child Tax Credit 
SEC. 221. CHILD TAX CREDIT FULLY REFUNDABLE FOR 2020 
THROUGH 2025. 
(a) IN GENERAL.—Section 24(h)(5) of the Internal 
Revenue Code of 1986 is amended to read as follows: 
‘‘(5) REFUNDABLE CREDIT.—The increase de-
termined under the first sentence of subsection 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01126
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1127 
(d)(1) shall be the amount determined under sub-
paragraph (A) of such subsection (determined with-
out regard to paragraph (4) of this subsection).’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 222. APPLICATION OF CHILD TAX CREDIT IN POSSES-
SIONS. 
(a) IN GENERAL.—Section 24 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new subsection: 
‘‘(i) APPLICATION OF CREDIT IN POSSESSIONS.— 
‘‘(1) MIRROR CODE POSSESSIONS.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
pay to each possession of the United States 
with a mirror code tax system amounts equal to 
the loss to that possession by reason of the ap-
plication of this section (determined without re-
gard to this subsection) with respect to taxable 
years beginning after 2019. Such amounts shall 
be determined by the Secretary of the Treasury 
based on information provided by the govern-
ment of the respective possession. 
‘‘(B) COORDINATION
WITH
CREDIT
AL-
LOWED
AGAINST
UNITED
STATES
INCOME 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01127
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1128 
TAXES.—No credit shall be allowed under this 
section for any taxable year to any individual to 
whom a credit is allowable against taxes im-
posed by a possession with a mirror code tax 
system by reason of the application of this sec-
tion in such possession for such taxable year. 
‘‘(C) MIRROR
CODE
TAX
SYSTEM.—For 
purposes of this paragraph, the term ‘mirror 
code tax system’ means, with respect to any 
possession of the United States, the income tax 
system of such possession if the income tax li-
ability of the residents of such possession under 
such system is determined by reference to the 
income tax laws of the United States as if such 
possession were the United States. 
‘‘(2) PUERTO RICO.—In the case of any bona 
fide resident of Puerto Rico (within the meaning of 
section 937(a))— 
‘‘(A) the credit determined under this sec-
tion shall be allowable to such resident, 
‘‘(B) in the case of any taxable year begin-
ning after December 31, 2021, and before Jan-
uary 1, 2027, the increase determined under 
the first sentence of subsection (d)(1) shall be 
the lesser of— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01128
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1129 
‘‘(i) the amount determined under 
subsection (d)(1)(A) (determined without 
regard to subsection (h)(4)), or 
‘‘(ii) the dollar amount in effect under 
subsection (h)(5), and 
‘‘(C) in the case of any taxable year after 
December 31, 2026, the increase determined 
under the first sentence of subsection (d)(1) 
shall be the amount determined under sub-
section (d)(1)(A). 
‘‘(3) AMERICAN SAMOA.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
pay to American Samoa amounts estimated by 
the Secretary as being equal to the aggregate 
benefits that would have been provided to resi-
dents of American Samoa by reason of the ap-
plication of this section for taxable years begin-
ning after 2019 if the provisions of this section 
had been in effect in American Samoa. 
‘‘(B) DISTRIBUTION REQUIREMENT.—Sub-
paragraph (A) shall not apply unless American 
Samoa has a plan, which has been approved by 
the Secretary, under which American Samoa 
will promptly distribute such payments to the 
residents of American Samoa in a manner 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01129
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1130 
which replicates to the greatest degree prac-
ticable the benefits that would have been so 
provided to each such resident. 
‘‘(C) COORDINATION
WITH
CREDIT
AL-
LOWED
AGAINST
UNITED
STATES
INCOME 
TAXES.— 
‘‘(i) IN GENERAL.—In the case of a 
taxable year with respect to which a plan 
is approved under subparagraph (B), this 
section (other than this subsection) shall 
not apply to any individual eligible for a 
distribution under such plan. 
‘‘(ii) APPLICATION
OF
SECTION
IN 
EVENT
OF
ABSENCE
OF
APPROVED 
PLAN.—In the case of a taxable year with 
respect to which a plan is not approved 
under subparagraph (B), rules similar to 
the rules of paragraph (2) shall apply with 
respect to bona fide residents of American 
Samoa (within the meaning of section 
937(a)). 
‘‘(4) TREATMENT
OF
PAYMENTS.—The pay-
ments made under this subsection shall be treated in 
the same manner for purposes of section 1324(b)(2) 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01130
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1131 
of title 31, United States Code, as refunds due from 
the credit allowed under this section.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 223. INCREASED CHILD TAX CREDIT. 
(a) IN GENERAL.—Section 24(h)(2) of the Internal 
Revenue Code of 1986 is amended to read to as follows: 
‘‘(2) CREDIT AMOUNT.—Subsection (a) shall be 
applied by substituting ‘$3,000 ($3,600 in the case 
of a qualifying child who has not attained age 6 as 
of the close of the calendar year in which the taxable 
year of the taxpayer begins)’ for ‘$1,000’.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
Subtitle D—Dependent Care 
Assistance 
SEC. 231. REFUNDABILITY AND ENHANCEMENT OF CHILD 
AND DEPENDENT CARE TAX CREDIT. 
(a) IN GENERAL.—Section 21 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new subsection: 
‘‘(g) SPECIAL RULES FOR 2020 AND 2021.—In the 
case of any taxable year beginning in 2020 or 2021— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01131
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1132 
‘‘(1) CREDIT MADE REFUNDABLE.—In the case 
of an individual other than a nonresident alien, the 
credit allowed under subsection (a) shall be treated 
as a credit allowed under subpart C (and not allowed 
under this subpart). 
‘‘(2) INCREASE IN APPLICABLE PERCENTAGE.— 
Subsection (a)(2) shall be applied— 
‘‘(A) by substituting ‘50 percent’ for ‘35 
percent ’, and 
‘‘(B) 
by 
substituting 
‘$120,000’ 
for 
‘$15,000’. 
‘‘(3) INCREASE IN DOLLAR LIMIT ON AMOUNT 
CREDITABLE.—Subsection (c) shall be applied— 
‘‘(A) by substituting ‘$6,000’ for ‘$3,000’ 
in paragraph (1) thereof, and 
‘‘(B) by substituting ‘twice the amount in 
effect under paragraph (1)’ for ‘$6,000’ in 
paragraph (2) thereof. 
‘‘(4) INFLATION
ADJUSTMENT
OF
DOLLAR 
AMOUNTS.—In the case of any taxable year begin-
ning after 2020, the $120,000 amount in paragraph 
(2)(B) and the $6,000 amount in paragraph (3)(A) 
shall each be increased by an amount equal to— 
‘‘(A) such dollar amount, multiplied by 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01132
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1133 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year in which the taxable year begins, deter-
mined by substituting ‘2019’ for ‘2016’ in sub-
paragraph (A)(ii) thereof. 
If any increase determined under this paragraph is 
not a multiple of $100, such increase shall be round-
ed to the next lowest multiple of $100. 
‘‘(5) INCOME LIMITATION.— 
‘‘(A) 
IN
GENERAL.—Paragraphs 
(1) 
through (4) of this subsection shall not apply to 
any taxpayer for any taxable year if the modi-
fied adjusted gross income of such taxpayer for 
such taxable year exceeds $1,000,000. 
‘‘(B) MODIFIED
ADJUSTED
GROSS
IN-
COME.—For purposes of this paragraph, the 
term ‘modified adjusted gross income’ means 
adjusted gross income determined without re-
gard to sections 911, 931, and 933.’’. 
(b) CONFORMING AMENDMENT.—Section 1324(b)(2) 
of title 31, United States Code, is amended by inserting 
‘‘21 (by reason of subsection (g) thereof),’’ before ‘‘25A’’. 
(c) COORDINATION WITH POSSESSION TAX SYS-
TEMS.—Section 21(g)(1) of the Internal Revenue Code of 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01133
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1134 
1986 (as added by this section) shall not apply to any per-
son— 
(1) to whom a credit is allowed against taxes 
imposed by a possession with a mirror code tax sys-
tem by reason of the application of section 21 of 
such Code in such possession for such taxable year, 
or 
(2) to whom a credit would be allowed against 
taxes imposed by a possession which does not have 
a mirror code tax system if the provisions of section 
21 of such Code had been in effect in such posses-
sion for such taxable year. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2019. 
SEC. 232. INCREASE IN EXCLUSION FOR EMPLOYER-PRO-
VIDED DEPENDENT CARE ASSISTANCE. 
(a) IN GENERAL.—Section 129(a)(2) of the Internal 
Revenue Code of 1986 is amended by adding at the end 
the following new subparagraph: 
‘‘(D) SPECIAL RULE FOR 2021 AND 2022.— 
In the case of any taxable year beginning in 
2021 or 2022— 
‘‘(i) IN GENERAL.—Subparagraph (A) 
shall be applied be substituting ‘$10,500 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01134
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1135 
(half such dollar amount’ for ‘$5,000 
($2,500’. 
‘‘(ii) INFLATION
ADJUSTMENT.—In 
the case of any taxable year beginning 
after 2021, the $10,500 amount in clause 
(i) shall be increased by an amount equal 
to— 
‘‘(I) such dollar amount, multi-
plied by 
‘‘(II) the cost-of-living adjust-
ment determined under section 1(f)(3) 
for the calendar year in which the tax-
able year begins, determined by sub-
stituting ‘2020’ for ‘2016’ in subpara-
graph (A)(ii) thereof. 
Any increase determined under the pre-
ceding sentence which is not a multiple of 
$50, shall be rounded to the nearest mul-
tiple of $50.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2020. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01135
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1136 
Subtitle E—Net Operating Losses 
SEC. 241. FIVE-YEAR CARRYBACK OF NET OPERATING 
LOSSES AND TEMPORARY SUSPENSION OF 
TAXABLE INCOME LIMITATION. 
(a) IN GENERAL.—Section 172 of the Internal Rev-
enue Code of 1986 is amended by redesignating subsection 
(g) as subsection (h) and by inserting after subsection (f) 
the following new subsection: 
‘‘(g) SPECIAL RULES FOR 2018, 2019, and 2020.— 
For purposes of this section— 
‘‘(1) FIVE-YEAR CARRYBACK.— 
‘‘(A) IN GENERAL.—Any net operating loss 
arising in a taxable year beginning after De-
cember 31, 2017, and before January 1, 
2021— 
‘‘(i) shall be a net operating loss 
carryback to each of the 5 taxable years 
preceding the taxable year of such loss 
(but not to any taxable year beginning be-
fore January 1, 2015), and 
‘‘(ii) subparagraphs (B) and (C)(i) of 
subsection (b)(1) shall not apply. 
‘‘(B) ELECTION
OUT.—A taxpayer may 
elect not to have subparagraph (A) apply for 
any taxable year. Such election shall be made in 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01136
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1137 
such manner as may be prescribed by the Sec-
retary, and shall be made— 
‘‘(i) in the case of any election relat-
ing to a net operating loss arising in a tax-
able year beginning in 2018 or 2019, by 
the due date (including extension of time) 
for filing the return for the taxpayer’s first 
taxable year ending after the date of the 
enactment of this subparagraph. 
‘‘(ii) in the case of any election relat-
ing to a net operating loss arising in a tax-
able year beginning in 2020, by the due 
date (including extensions of time) for 
such taxable year. 
Any such election, once made, shall be irrev-
ocable. 
‘‘(2) SUSPENSION
OF
NET
OPERATING
LOSS 
LIMITATION.—For taxable years beginning after De-
cember 31, 2017, and before January 1, 2021, the 
amount of the deduction allowed under subsection 
(a) shall be the aggregate of the net operating loss 
carryovers to such year, plus the net operating loss 
carrybacks to such year. 
‘‘(3) DISQUALIFIED
TAXPAYER.—Paragraphs 
(1) and (2) shall not apply with respect to any tax-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01137
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1138 
able year in which the taxpayer is a disqualified tax-
payer. Any taxpayer who is a disqualified taxpayer 
in the first taxable year ending after the date of the 
enactment of this paragraph, shall be treated as a 
disqualified taxpayer for taxable years beginning on 
or after January 1, 2018. 
‘‘(4) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) DISQUALIFIED
TAXPAYER.—A tax-
payer is a disqualified taxpayer with respect to 
a taxable year if— 
‘‘(i) in the case of a taxable year end-
ing after December 31, 2019, and begin-
ning before January 1, 2021, the taxpayer 
(or any related person) is not allowed a de-
duction under this chapter for the taxable 
year by reason of section 162(m) or section 
280G, or 
‘‘(ii) the taxpayer (or any related per-
son) is a specified corporation for the tax-
able year. 
‘‘(B) SPECIFIED CORPORATION.— 
‘‘(i) IN GENERAL.—The term ‘speci-
fied corporation’ means, with respect to 
any taxable year, a corporation the aggre-
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01138
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1139 
gate distributions (including redemptions) 
of which during any taxable year ending 
after December 31, 2017, exceed the sum 
of applicable stock issued of such corpora-
tion and 5 percent of the fair market value 
of the stock of such corporation as of the 
last day of the taxable year. 
‘‘(ii) APPLICABLE
STOCK
ISSUED.— 
The term ‘applicable stock issued’ means, 
with respect to any corporation, the aggre-
gate value of stock issued by the corpora-
tion during any taxable year ending after 
December 31, 2017, in exchange for money 
or property other than stock in such cor-
poration. 
‘‘(iii) CERTAIN
PREFERRED
STOCK 
DISREGARDED.—For purposes of clause 
(i), stock described in section 1504(a)(4), 
and distributions (including redemptions) 
with respect to such stock, shall be dis-
regarded. 
‘‘(C) RELATED PERSON.—A person is a re-
lated person to a taxpayer if the related person 
bears a relationship to the taxpayer specified in 
section 267(b) or section 707(b)(1). 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01139
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1140 
‘‘(5) SPECIAL RULE FOR LIFE INSURANCE COM-
PANIES.—In the case of a net operating loss of a life 
insurance company which arises in a taxable year 
beginning after December 31, 2017, and before Jan-
uary 1, 2021, and which is a net operating loss 
carryback to a taxable year beginning before Janu-
ary 1, 2018, such net operating loss shall be treated 
as an operations loss deduction under subchapter L 
(as in effect before the enactment of Public Law 
115–97) with respect to such taxable year in the 
same manner as a loss arising in a taxable year be-
ginning before January 1, 2018.’’. 
(b) COORDINATION
WITH
TAXABLE
YEAR
FOR 
WHICH DEFERRED FOREIGN INCOME TREATED AS SUB-
PART F INCOME.—Section 965(n) of such Code is amend-
ed by adding at the end the following new paragraph: 
‘‘(4) DEEMED ELECTION IN CASE OF CERTAIN 
NET OPERATING LOSS CARRYBACKS.—In the case of 
a net operating loss carryback to such taxable year 
by reason of section 172(g)(1), the taxpayer shall be 
treated as having elected the application of this sub-
section for such taxable year.’’. 
(c) CONFORMING AMENDMENT.—Section 172(b)(1) 
of such Code is amended by inserting ‘‘and subsection (g)’’ 
after ‘‘this paragraph’’. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01140
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1141 
(d) REGULATORY AUTHORITY.—The Secretary of the 
Treasury (or the Secretary’s delegate) shall prescribe such 
regulations or other guidance as are necessary or appro-
priate to prevent the abuse of the purposes of the amend-
ments made by this section, including— 
(1) anti-stuffing rules, anti-churning rules (in-
cluding rules relating to sale-leasebacks), and rules 
similar to the rules under section 1091 of the Inter-
nal Revenue Code of 1986 relating to losses from 
wash sales, 
(2) rules applying this subsection to successor 
corporations and in cases where a taxpayer becomes, 
or ceases to be, a member of an affiliated group fil-
ing a consolidated return under section 1501 of such 
Code, 
(3) rules treating members of an affiliated 
group filing a consolidated return under section 
1501 of such Code as a single corporation, and 
(4) rules to prevent the avoidance of this sec-
tion through related parties, pass-through entities, 
and intermediaries. 
(e) SPECIAL RULES.—Rules similar to the rules of 
subparagraphs (B) and (D) of section 172(b)(1) of the 
Internal Revenue Code of 1986, as in effect on the day 
before the date of the enactment of Public Law 115–97, 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01141
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1143 
Subtitle F—Employee Retention 
Credit 
SEC. 251. PAYROLL CREDIT FOR CERTAIN EMPLOYERS AF-
FECTED BY COVID–19. 
(a) IN GENERAL.—In the case of an eligible em-
ployer, there shall be allowed as a credit against the tax 
imposed by section 3111(a) or 3221(a) of the Internal 
Revenue Code of 1986 for each calendar quarter an 
amount equal to 80 percent of the qualified wages allo-
cable to the inoperable trade or business with respect to 
each employee of such employer for such calendar quarter. 
(b) LIMITATIONS AND REFUNDABILITY.— 
(1) 
WAGES
TAKEN
INTO
ACCOUNT.—The 
amount of qualified wages with respect to any em-
ployee which may be taken into account under sub-
section (a) by the eligible employer for all calendar 
quarters shall not exceed $10,000. 
(2) 
CREDIT
LIMITED
TO
EMPLOYMENT 
TAXES.—The credit allowed by subsection (a) with 
respect to any calendar quarter shall not exceed the 
tax imposed by section 3111(a) or 3221(a) of the 
Internal Revenue Code of 1986 for such calendar 
quarter (reduced by any credits allowed under sub-
sections (e) and (f) of section 3111 and sections 
7001 and 7003 of the Families First Coronavirus 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01143
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1144 
Response Act) on the wages paid with respect to the 
employment of all the employees of the eligible em-
ployer. 
(3) REFUNDABILITY OF EXCESS CREDIT.— 
(A) IN GENERAL.—If the amount of the 
credit under subsection (a) exceeds the limita-
tion of paragraph (2) for any calendar quarter, 
such excess shall be treated as an overpayment 
that shall be refunded under sections 6402(a) 
and 6413(b) of such Code. 
(B) TREATMENT OF PAYMENTS.—For pur-
poses of section 1324 of title 31, United States 
Code, any amounts due to the employer under 
this paragraph shall be treated in the same 
manner as a refund due from a credit provision 
referred to in subsection (b)(2) of such section. 
(c) DEFINITIONS.—For purposes of this section— 
(1) ELIGIBLE EMPLOYER.—The term ‘‘eligible 
employer’’ means an employer— 
(A) which conducted an active trade or 
business on January 31, 2020, 
(B) with respect to which such trade or 
business is an inoperable trade or business after 
January 31, 2020 during any calendar quarter, 
and 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01144
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1145 
(C) which had either— 
(i) no more than 1,500 full-time 
equivalent employees (as defined in section 
45R(d)(2) of the Internal Revenue Code of 
1986) for calendar year 2019, or 
(ii) no more than $41.5 million in 
gross receipts in calendar year 2019. 
(2) INOPERABLE
TRADE
OR
BUSINESS.—The 
term ‘‘inoperable trade or business’’ means any 
trade or business of an eligible employer for which 
gross receipts for the calendar quarter are less than 
80 percent of gross receipts for the same calendar 
quarter for the prior year. 
(3) QUALIFIED WAGES.—The term ‘‘qualified 
wages’’ means wages (as defined in section 3121(a) 
of such Code) or compensation (as defined in section 
3231(e) of such Code) paid or incurred by an eligi-
ble employer with respect to an employee on any day 
after January 31, 2020 and before December 31, 
2020 that falls during the designated period, except 
that such term shall not include any wages taken 
into account under section 7001 or section 7003 of 
the Families First Coronavirus Response Act. 
(4) DESIGNATED
PERIOD.—The term ‘‘des-
ignated period’’ means the period— 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01145
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1146 
(A) beginning in the calendar quarter in 
which the trade or business became an inoper-
able trade or business, and 
(B) ending in the calendar quarter for 
which the gross receipts of the trade or busi-
ness of the eligible employer are greater than 
90 percent of gross receipts for the same cal-
endar quarter for the prior year. 
Such term shall include wages paid or incurred with-
out regard to whether the employee performs no 
services, performs services at a different place of em-
ployment, or performs services during the period in 
which the eligible employer is an inoperable trade or 
business. 
(d) AGGREGATION RULE.—All persons treated as a 
single employer under subsection (a) or (b) of section 52 
of such Code, or subsection (m) or (o) of section 414 of 
such Code, shall be treated as one eligible employer for 
purposes of this section. 
(e) DENIAL OF DOUBLE BENEFIT.—For purposes of 
chapter 1 of such Code, the gross income of the employer 
for the taxable year which includes the last day of any 
calendar quarter with respect to which a credit is allowed 
under this section shall be increased by the amount of 
such credit. 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01146
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1147 
(f) SPECIAL RULE FOR THIRD-PARTY PAYORS.—Any 
credit allowed under this section shall be treated as a cred-
it described in section 3511(d)(2) of such Code. 
(g) ELECTION NOT TO HAVE SECTION APPLY.— 
This section shall not apply with respect to any eligible 
employer for any calendar quarter if such employer elects 
(at such time and in such manner as the Secretary of the 
Treasury (or the Secretary’s delegate) may prescribe) not 
to have this section apply. 
(h) EMPLOYEE NOT TAKEN INTO ACCOUNT MORE 
THAN ONCE.—An employee shall not be treated as an em-
ployee for purposes of this section for any period with re-
spect to any employer if such employer is allowed a credit 
under section 51 of such Code with respect to such em-
ployee for such period. 
(i) REGULATIONS.—The Secretary of the Treasury 
(or the Secretary’s delegate) shall prescribe such regula-
tions or other guidance as may be necessary to carry out 
the purposes of this section, including— 
(1) regulations or other guidance providing for 
waiver of penalties for failure to deposit amounts in 
anticipation of the allowance of the credit allowed 
under this section, 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01147
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS
1148 
(2) regulations or other guidance regarding the 
form and manner for recapturing credits under this 
section, 
(3) regulations or other guidance to prevent the 
avoidance of the purposes of this section, 
(4) regulations or other guidance describing 
proper calculation of gross receipts for purposes of 
subsection (c) for eligible employers that did not op-
erate a trade or business in prior calendar quarters, 
and 
(5) regulations or other guidance regarding the 
application of the credit under subsection (a) to 
third party payors (including professional employer 
organizations, certified professional employer organi-
zations, or agents under section 3504 of such Code), 
including regulations or other guidance allowing 
such payors to submit documentation necessary to 
substantiate the eligible employer status of employ-
ers that use such payors. 
(j) TRANSFERS TO FEDERAL OLD-AGE AND SUR-
VIVORS INSURANCE TRUST FUND.—There are hereby ap-
propriated to the Federal Old-Age and Survivors Insur-
ance Trust Fund and the Federal Disability Insurance 
Trust Fund established under section 201 of the Social 
Security Act (42 U.S.C. 401) and the Social Security 
VerDate Sep 11 2014 
05:03 Mar 24, 2020
Jkt 099200
PO 00000
Frm 01148
Fmt 6652
Sfmt 6201
E:\BILLS\H6379.IH
H6379
dlhill on DSKBBY8HB2PROD with BILLS