I 
116TH CONGRESS 
2D SESSION 
H. R. 6758 
To establish requirements for funds appropriated to carry out the paycheck 
protection program, to require reporting on the use of such funds, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 8, 2020 
Ms. GARCIA of Texas introduced the following bill; which was referred to the 
Committee on Small Business 
A BILL 
To establish requirements for funds appropriated to carry 
out the paycheck protection program, to require report-
ing on the use of such funds, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SET ASIDE FOR MINORITY DEPOSITORY INSTI-
TUTIONS AND COMMUNITY DEVELOPMENT 
FINANCIAL INSTITUTIONS UNDER THE PAY-
CHECK PROTECTION PROGRAM AND HEALTH 
CARE ENHANCEMENT ACT. 
With respect to amounts appropriated under section 
101(a) of division A of the Paycheck Protection Program 
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and Health Care Enhancement Act (Public Law 116–139) 
for the cost of guaranteed loans made under section 
7(a)(36) of the Small Business Act (15 U.S.C. 
636(a)(36)), $10,000,000,000 of such amounts not other-
wise obligated or expended shall be set aside for loan guar-
antees made by minority depository institutions (as de-
fined in section 308 of the Financial Institutions Reform, 
Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 
note)) and community development financial institutions 
(as defined in section 103 of the Riegle Community Devel-
opment and Regulatory Improvement Act of 1994 (12 
U.S.C. 4702)). 
SEC. 2. SET ASIDE FOR CERTAIN LENDERS AND REPORT-
ING REQUIREMENTS FOR THE PAYCHECK 
PROTECTION PROGRAM. 
(a) SET ASIDE FOR CERTAIN LENDERS.— 
(1) IN GENERAL.—On the date on which all 
amounts appropriated by the Paycheck Protection 
Program and Health Care Enhancement Act (Public 
Law 116–139) under the heading ‘‘Small Business 
Administration—Business Loans Program Account, 
CARES Act’’ are expended, subparagraph (S) of 
section 7(a)(36) of the Small Business Act (15 
U.S.C. 636(a)(36)(S)) is amended to read as fol-
lows: 
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‘‘(S) SET ASIDE FOR CERTAIN LENDER.— 
The Administrator shall provide for the cost of 
guaranteed covered loans made under this para-
graph— 
‘‘(i) a set aside of 20 percent of each 
amount appropriated pursuant to this to 
carry out this paragraph for loans made by 
community financial institutions (as de-
fined in subparagraph (A)(xi) of such sec-
tion), insured depository institutions (as 
defined in subparagraph (A)(i) of such sec-
tion), and credit unions (as defined in sub-
paragraph (A)(xii) of such section), with 
consolidated 
assets 
of 
less 
than 
$10,000,000,000; 
‘‘(ii) a set aside of 10 percent of each 
amount appropriated pursuant to this to 
carry out this paragraph for loans made by 
insured depository institutions (as defined 
in subparagraph (A)(i) of such section) 
and credit unions (as defined in subpara-
graph (A)(xii) of such section) with con-
solidated 
assets 
of 
not 
less 
than 
$10,000,000,000 
and 
less 
than 
$50,000,000,000; and 
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‘‘(iii) a set aside equal the greater of 
$10,000,000,000 or 5 percent of each 
amount appropriated pursuant to this to 
carry out this paragraph for loans made by 
minority depository institutions (as defined 
in section 308 of the Financial Institutions 
Reform, Recovery, and Enforcement Act of 
1989 (12 U.S.C. 1463 note)) and commu-
nity development financial institutions (as 
defined in section 103 of the Riegle Com-
munity Development and Regulatory Im-
provement 
Act 
of 
1994 
(12 
U.S.C. 
4702)).’’. 
(2) NOTIFICATION.—The Administrator of the 
Small Business Administration shall notify the Law 
Revision Counsel of the House of Representatives of 
the date on which the amounts described under 
paragraph (1) are expended so that the Law Revi-
sion Counsel may execute the amendments made by 
paragraph (1). 
(b) PROCESSING.—Section 7(a)(36) of the Small 
Business Act (15 U.S.C. 636(a)(36)) is amended by add-
ing at the end the following new subparagraph: 
‘‘(T) APPLICATION PROCESSING.— 
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‘‘(i) IN GENERAL.—The Administrator 
and the Secretary of the Treasury shall, at 
least twice weekly, provide separate 8-hour 
period during which the Administrator and 
the Secretary shall process the following 
applications under this paragraph: 
‘‘(I) Applications compiled by 
lenders with consolidated assets of 
less than $1,000,000,000 that are au-
thorized to make loans under this 
paragraph. 
‘‘(II) Applications compiled by 
lenders from eligible recipients that 
have 20 or fewer employees for a prin-
cipal amount of a covered loan of less 
than $200,000. 
‘‘(ii) REQUIREMENTS.—The Adminis-
trator and the Secretary shall, at least 72 
hours in advance, provide notice of when 
an 8-hour period described in clause (i) 
will begin. Such 8-hour period may not be 
between 12 a.m. and 8 a.m.’’. 
(c) REPORTS.— 
(1) IN GENERAL.—During the period beginning 
on the date of the enactment of an Act appro-
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priating amounts under the heading ‘‘Small Busi-
ness Administration—Business Loans Program Ac-
count, CARES Act’’ that is on or after the date of 
the enactment of this Act, and ending on the date 
on which such amounts are expended, the Adminis-
trator of the Small Business Administrator and the 
Secretary of the Treasury shall make publicly avail-
able— 
(A) on a daily basis, the amount of funds 
under such heading that have not been obli-
gated or expended; and 
(B) on a weekly basis, the amount of funds 
under such heading made available to lenders, 
disaggregated by the type of lender (including 
minority depository institutions (as defined in 
section 308 of the Financial Institutions Re-
form, Recovery, and Enforcement Act of 1989 
(12 U.S.C. 1463 note)) and community develop-
ment financial institutions (as defined in sec-
tion 103 of the Riegle Community Development 
and Regulatory Improvement Act of 1994 (12 
U.S.C. 4702))) and the total consolidated assets 
of each such lender. 
(2) PRIOR EXPENDITURES.—Not later than 7 
days after the date of the enactment of this Act, the 
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Administrator of the Small Business Administrator 
and the Secretary of the Treasury shall make pub-
licly available a report on funds made available 
under the heading ‘‘Small Business Administra-
tion—Business Loans Program Account, CARES 
Act’’ to lenders, disaggregated by the type of lender 
(including minority depository institutions (as de-
fined in section 308 of the Financial Institutions Re-
form, Recovery, and Enforcement Act of 1989 (12 
U.S.C. 1463 note)) and community development fi-
nancial institutions (as defined in section 103 of the 
Riegle Community Development and Regulatory Im-
provement Act of 1994 (12 U.S.C. 4702))) and the 
total consolidated assets of each such lender. 
Æ 
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