independent expenditure, or 
electioneering 
communica-
tion (within the meanings of 
such terms under the Fed-
eral Election Campaign Act 
of 1971), and has not un-
dertaken and will not under-
take similar campaign fi-
nance activities in State and 
local elections;’’. 
(b) DEADLINE.—Not later than the end of the 5-day 
period beginning on the date of enactment of this Act, the 
Board of Governors of the Federal Reserve System shall 
issue such rules or take such other actions as may be nec-
essary to implement the requirements made by the amend-
ments made by this section. 
SEC. 2. OPTIONS FOR SMALL BUSINESSES AND NON-PROF-
ITS UNDER THE MAIN STREET LENDING PRO-
GRAM. 
(a) IN GENERAL.—Section 4003(c)(3)(D)(ii)(II) of 
the CARES Act (15 U.S.C. 9042(c)(3)(D)(ii)(II)), as 
added by section 1, if further amended by adding at the 
end the following: 
‘‘(cc) shall provide at least 
one low-cost loan option that 
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small businesses, small non-prof-
its, and small institutions of 
higher education (as such term is 
defined in section 101(a) of the 
Higher Education Act of 1965 
(20 U.S.C. 1001(a))) are eligible 
for that does not have a min-
imum loan size and includes the 
ability to defer payments without 
capitalization of interest, and, 
solely for small non-profit organi-
zations that predominantly serve 
low-income communities, as de-
termined by the Federal Reserve, 
have the loans forgiven by the 
Department of the Treasury for 
a similar purpose to maintain 
payroll and operations provided 
under the Paycheck Protection 
Program, notwithstanding section 
4003(d)(3) of the CARES Act;’’. 
(b) DEADLINE.—Not later than the end of the 5-day 
period beginning on the date of enactment of this Act, the 
Board of Governors of the Federal Reserve System shall 
issue such rules or take such other actions as may be nec-
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essary to implement the requirements made by the amend-
ments made by this section. 
SEC. 3. TREATMENT OF CDFIS UNDER THE MAIN STREET 
LENDING PROGRAM. 
(a) IN GENERAL.—Section 4003(c)(3)(D)(ii)(II) of 
the CARES Act (15 U.S.C. 9042(c)(3)(D)(ii)(II)), as 
amended by section 2, is further amended by adding at 
the end the following: 
‘‘(dd) shall authorize com-
munity development financial in-
stitutions to be eligible lenders 
under such program or facility; 
and 
‘‘(ee) 
shall 
provide 
re-
sources, webinars, and technical 
assistance (using funds from 
such program or facility) to mi-
nority depository institutions and 
community development financial 
institutions that wish to be eligi-
ble lenders under such program 
or facility.’’. 
(b) DEADLINE.—Not later than the end of the 5-day 
period beginning on the date of enactment of this Act, the 
Board of Governors of the Federal Reserve System shall 
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issue such rules or take such other actions as may be nec-
essary to implement the requirements made by the amend-
ments made by this section. 
Æ 
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