675 
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. 
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‘‘(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.’’. 
(c) REFINANCING SENIOR PROJECT DEBT.—During 
the 1-year period beginning on the date of the enactment 
of this Act, a development company described under title 
V of the Small Business Investment Act of 1958 (15 
U.S.C. 695 et seq.) is authorized to allow the refinancing 
of a senior loan on an existing project in an amount that, 
when combined with the outstanding balance on the devel-
opment company loan, is not more than 90 percent of the 
total value of the senior loan. Proceeds of such refinancing 
can be used to support business operating expenses of 
such development company. 
SEC. 607. TEMPORARY FEE REDUCTIONS. 
(a) 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 
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677 
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— 
(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 
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678 
(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)). 
(c) 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 
under 
section 
120.971(a)(1) of title 13, Code of Federal Reg-
ulations (relating to fees paid by borrowers), or 
any successor thereto, collect no fee. 
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(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. 608. EXTENSION OF PARTICIPATION IN 8(A) PROGRAM. 
(a) IN GENERAL.—The Administrator shall ensure 
that a small business concern participating in the program 
established under section 8(a) of the Small Business Act 
on or before March 13, 2020, may elect to extend such 
participation by a period of 1 year, regardless of whether 
such concern previously elected to suspend participation 
in such program pursuant to guidance of the Adminis-
trator. 
(b) EMERGENCY RULEMAKING AUTHORITY.—Not 
later than 15 days after the date of enactment of this sec-
tion, the Administrator shall issue regulations to carry out 
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this section without regard to the notice requirements 
under section 553(b) of title 5, United States Code. 
SEC. 609. REPORT ON MINORITY, WOMEN, AND RURAL 
LENDING. 
Not later than 90 days after the date of the enact-
ment of this Act, the Administrator shall submit to the 
Committee on Small Business of the House of Representa-
tives and the Committee on Small Business and Entrepre-
neurship of the Senate a report to determine and quantify 
the extent to which the programs established under sub-
sections (a) and (m) of section 7 of the Small Business 
Act, titles III and V of the Small Business Investment 
Act of 1958, and the Community Advantage Pilot Pro-
gram of the Small Business Administration have assisted 
in the establishment, development, and performance of 
small business concerns owned and controlled by socially 
and economically disadvantaged individuals (as defined in 
section 8(d)(3)(C) of the Small Business Act), small busi-
ness concerns owned and controlled by women (as defined 
in section 3 of such Act), and rural small businesses, in-
cluding recommendations to improve such access to capital 
programs. 
SEC. 610. COMPREHENSIVE PROGRAM GUIDANCE. 
Not later than 7 days after the date of the enactment 
of this Act, the Administrator shall— 
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681 
(1) establish a process for accepting applica-
tions for loan forgiveness under section 1106 of the 
CARES Act (15 U.S.C. 9005); 
(2) issue a comprehensive compilation of rules 
and guidance issued related to covered loans made 
under section 7(a)(36) of the Small Business Act 
(15 U.S.C. 636(a)(36)); and 
(3) before accepting applications for supple-
mental covered loans under clause (ii) of section 
7(a)(36)(B) of the Small Business Act (15 U.S.C. 
636(a)(36)(B)), as added by section 202 of this divi-
sion, the Administrator shall issue comprehensive 
rules and guidance to ensure that borrowers and 
lenders are aware of eligibility and terms of receiv-
ing a supplemental covered loan and the process for 
forgiveness of a supplemental covered loan. 
SEC. 611. REPORTS ON PAYCHECK PROTECTION PROGRAM. 
(a) REPORT TO CONGRESS.—Within 30 days after 
the date of the enactment of this Act, and every 30 days 
thereafter until the end of the covered period described 
under section 7(a)(36) of the Small Business Act (15 
U.S.C. 636(a)(36)), the Secretary of the Treasury and the 
Administrator shall submit to the Committee on Small 
Business of the House of Representatives and the Com-
mittee on Small Business and Entrepreneurship of the 
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Senate a report, in a searchable digital format, that in-
cludes, with respect to each covered loan made under such 
section 7(a)(36)— 
(1) the business name, address, and ZIP Code 
of each recipient of the covered loan; 
(2) the North American Industry Classification 
System code and the type of entity of each such re-
cipient; 
(3) demographic data of each such recipient; 
(4) the number of jobs supported by the cov-
ered loan; 
(5) loan forgiveness data; and 
(6) the amount and origination date of the cov-
ered loan. 
(b) PUBLICLY AVAILABLE REPORT.— 
(1) LARGER COVERED LOANS.—Within 30 days 
after the date of the enactment of this Act, and 
every 30 days thereafter until the end of the covered 
period described under section 7(a)(36) of the Small 
Business Act (15 U.S.C. 636(a)(36)), for covered 
loans made under such section 7(a)(36) in an 
amount greater than or equal to $150,000, the Sec-
retary of the Treasury and the Administrator shall 
make publicly available— 
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683 
(A) the information described under para-
graphs (1) through (4) of subsection (a); and 
(B) the loan size range, of those listed 
below, that the covered loan belongs— 
(i) greater than or equal to $150,000 
and less than $350,000; 
(ii) greater than or equal to $350,000 
and less than $1,000,000; 
(iii) 
greater 
than 
or 
equal 
to 
$1,000,000 and less than $2,000,000; 
(iv) 
greater 
than 
or 
equal 
to 
$2,000,000 and less than $5,000,000; and 
(v) 
greater 
than 
or 
equal 
to 
$5,000,000 and less than $10,000,000. 
(2) SMALLER
COVERED
LOANS.—Within 30 
days after the date of the enactment of this Act, and 
every 30 days thereafter until the end of the covered 
period described under section 7(a)(36) of the Small 
Business Act (15 U.S.C. 636(a)(36)), for covered 
loans made under such section 7(a)(36) in an 
amount less than $150,000, the Secretary of the 
Treasury and the Administrator shall make publicly 
available the total number of covered loans made 
and the amount of each covered loan, disaggregated 
by ZIP Code of each recipient, industry of each re-
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cipient, business type of each recipient, and demo-
graphic categories of each recipient. 
(3) PUBLICATION.—Information provided under 
paragraphs (1) and (2) shall be made publicly avail-
able in a searchable digital format on websites of the 
Department of the Treasury and the Small Business 
Administration. 
SEC. 612. PROHIBITING CONFLICTS OF INTEREST FOR 
SMALL BUSINESS PROGRAMS UNDER THE 
CARES ACT. 
Section 4019 of the CARES Act (15 U.S.C. 9054) 
is amended— 
(1) in subsection (a), by adding at the end the 
following: 
‘‘(7) SMALL BUSINESS ASSISTANCE.—The term 
‘small business assistance’ means assistance pro-
vided under— 
‘‘(A) section 7(a)(36) of the Small Busi-
ness Act (15 U.S.C. 636(a)(36)); 
‘‘(B) subsection (b) or (c) of section 1103 
of this Act; 
‘‘(C) section 1110 of this Act; or 
‘‘(D) section 1112 of this Act.’’; 
(2) in subsection (b)— 
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(A) by inserting ‘‘or provisions relating to 
small business assistance’’ after ‘‘this subtitle’’; 
and 
(B) by inserting ‘‘or for any small business 
assistance’’ before the period at the end; and 
(3) in subsection (c)— 
(A) by inserting ‘‘or seeking any small 
business assistance’’ after ‘‘section 4003’’; 
(B) by inserting ‘‘or small business assist-
ance’’ after ‘‘that transaction’’; 
(C) by inserting ‘‘or the Administrator of 
the Small Business Administration, as applica-
ble,’’ after ‘‘Federal Reserve System’’; and 
(D) by inserting ‘‘or to receive the small 
business assistance’’ after ‘‘in that trans-
action’’. 
SEC. 613. INCLUSION OF SCORE AND VETERAN BUSINESS 
OUTREACH CENTERS IN ENTREPRENEURIAL 
DEVELOPMENT PROGRAMS. 
(a) IN GENERAL.—Section 1103(a)(2) of the CARES 
Act (15 U.S.C. 9002(a)(2)) is amended— 
(1) in subparagraph (A), by striking ‘‘and’’ at 
the end; and 
(2) by adding at the end the following new sub-
paragraphs: 
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‘‘(C) a Veteran Business Outreach Center 
(as described under section 32(d) of the Small 
Business Act); and 
‘‘(D) the Service Corps of Retired Execu-
tives Association, or any successor or other or-
ganization, that receives a grant from the Ad-
ministrator to operate the SCORE program es-
tablished under section 8(b)(2)(A) of the Small 
Business Act;’’. 
(b) FUNDING.—Section 1107(a)(4) of the CARES 
Act (15 U.S.C. 9006(a)(4)) is amended— 
(1) in subparagraph (A)— 
(A) by striking ‘‘$240,000,000’’ and in-
serting ‘‘$220,000,000’’; 
(B) by striking ‘‘and’’ at the end; and 
(2) by adding at the end the following new sub-
paragraphs: 
‘‘(C) $10,000,000 shall be for a Veteran 
Business Outreach Center described in section 
1103(a)(2)(C) of this Act to carry out activities 
under such section; and 
‘‘(D) $10,000,000 shall be for the Service 
Corps of Retired Executives Association de-
scribed in section 1103(a)(2)(D) of this Act to 
carry out activities under such section;’’. 
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687 
SEC. 614. CLARIFICATION OF USE OF CARES ACT FUNDS 
FOR SMALL BUSINESS DEVELOPMENT CEN-
TERS. 
Section 1103(b)(3)(A) of the CARES Act (15 U.S.C. 
9002(b)(3)(A)) is amended by adding at the end the fol-
lowing new sentence: ‘‘Funds awarded under this para-
graph shall be in addition to any amounts appropriated 
for grants under section 21(a) of the Small Business Act, 
and may be used to complement and support those appro-
priated program grants to assist small business concerns, 
with prioritization of such concerns affected directly or in-
directly by COVID–19 as described in paragraph (2).’’. 
SEC. 615. FUNDING FOR THE OFFICE OF INSPECTOR GEN-
ERAL OF THE SMALL BUSINESS ADMINISTRA-
TION. 
Section 1107(a)(3) of the CARES Act (15 U.S.C. 
9006(a)(3)) is amended by striking ‘‘September 30, 2024’’ 
and inserting ‘‘expended’’. 
SEC. 616. EXTENSION OF WAIVER OF MATCHING FUNDS RE-
QUIREMENT UNDER THE WOMEN’S BUSINESS 
CENTER PROGRAM. 
Section 1105 of the CARES Act (15 U.S.C. 9004) 
is amended by striking ‘‘During the 3-month period begin-
ning on the date of enactment of this Act,’’ and inserting 
‘‘Until December 31, 2020,’’. 
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688 
SEC. 617. ACCESS TO SMALL BUSINESS ADMINISTRATION 
INFORMATION AND DATABASES. 
Section 19010 of Division B of the CARES Act (Pub-
lic Law 116–136) is amended by— 
(1) redesignating subsection (e) as subsection 
(f); and 
(2) by inserting after subsection (d) the fol-
lowing new subsection: 
‘‘(e) SMALL
BUSINESS
ADMINISTRATION
DATA-
BASES.— 
‘‘(1) IN GENERAL.—In conducting monitoring 
and oversight under this section, the Comptroller 
General, upon notice to the Administrator of the 
Small Business Administration, shall have direct ac-
cess to all information collected or produced in con-
nection with the administration of programs or pro-
vision of assistance carried out by the Administrator, 
including direct access to any information technology 
systems maintained or utilized by the Administrator 
to collect, process, or analyze documents or informa-
tion submitted by borrowers, lenders, or others in 
connection with any such program or provision of 
assistance. In this subsection, the term ‘direct ac-
cess’ means secured access to the information tech-
nology systems maintained by the Administrator 
that would enable the Comptroller General to inde-
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689 
pendently access, view, download, and retrieve data 
from such systems. 
‘‘(2) INFORMATION
TECHNOLOGY
SYSTEMS.— 
The Administrator of the Small Business Adminis-
tration shall appropriately identify and classify any 
sensitive information contained in an information 
technology system accessed by the Comptroller Gen-
eral.’’. 
SEC. 618. SMALL BUSINESS LOCAL RELIEF PROGRAM. 
(a) ESTABLISHMENT.—There is established in the 
Department of the Treasury a Small Business Local Relief 
Program to allocate resources to States, units of general 
local government, and Indian Tribes to provide assistance 
to eligible entities and organizations that assist eligible en-
tities. 
(b) FUNDING.— 
(1) FUNDING TO STATES, LOCALITIES, AND IN-
DIAN TRIBES.— 
(A) IN GENERAL.—The Secretary of the 
Treasury shall allocate— 
(i) $10,250,000,000 to States and 
units of general local government in ac-
cordance with subparagraph (B)(i); 
(ii) $4,250,000,000 to States in ac-
cordance with subparagraph (B)(ii); and 
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690 
(iii) $500,000,000 to the Secretary of 
Housing and Urban Development for allo-
cations to Indian Tribes in accordance with 
subparagraph (B)(iii). 
(B) ALLOCATIONS.— 
(i) FORMULA FOR STATES AND UNITS 
OF
GENERAL
LOCAL
GOVERNMENT.—Of 
the amount described under subparagraph 
(A)(i)— 
(I) 70 percent shall be allocated 
to entitlement communities in accord-
ance with the formula under section 
106(b) of the Housing and Commu-
nity Development Act of 1974 (42 
U.S.C. 5306(b)); and 
(II) 30 percent shall be allocated 
to States, for use in nonentitlement 
areas, in accordance with the formula 
under section 106(d)(1) of such Act 
(42 U.S.C. 5306(d)(1)). 
(ii) RURAL
BONUS
FORMULA
FOR 
STATES.—The Secretary shall allocate the 
amount described under subparagraph 
(A)(ii) to States, for use in nonentitlement 
areas, in accordance with the formula 
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691 
under section 106(d)(1) of such Act (42 
U.S.C. 5306(d)(1)). 
(iii) COMPETITIVE AWARDS TO INDIAN 
TRIBES.— 
(I) IN GENERAL.—The Secretary 
of Housing and Urban Development 
shall allocate to Indian Tribes on a 
competitive basis the amount de-
scribed under subparagraph (A)(iii). 
(II) REQUIREMENTS.—In making 
allocations under subclause (I), the 
Secretary of Housing and Urban De-
velopment shall, to the greatest extent 
practicable, ensure that each Indian 
Tribe that satisfies requirements es-
tablished by the Secretary of Housing 
and Urban Development receives such 
an allocation. 
(C) 
STATE
ALLOCATIONS
FOR
NON-
ENTITLEMENT AREAS.— 
(i) EQUITABLE ALLOCATION.—To the 
greatest extent practicable, a State shall 
allocate amounts for nonentitlement areas 
under clauses (i)(II) and (ii) of subpara-
graph (B) on an equitable basis. 
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692 
(ii) DISTRIBUTION OF AMOUNTS.— 
(I) DISCRETION.—Not later than 
14 days after the date on which a 
State receives amounts for use in a 
nonentitlement 
area 
under 
clause 
(i)(II) or (ii) of subparagraph (B), the 
State shall— 
(aa) distribute the amounts, 
or a portion thereof, to a unit of 
general local government located 
in the nonentitlement area or an 
entity designated thereby, that 
has established or will establish a 
small business emergency fund, 
for use under paragraph (2); or 
(bb) elect to reserve the 
amounts, or a portion thereof, for 
use by the State under paragraph 
(2) for the benefit of eligible enti-
ties located in the nonentitlement 
area. 
(II) SENSE OF CONGRESS.—It is 
the sense of Congress that, in distrib-
uting amounts under subclause (I), in 
the case of amounts allocated for a 
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nonentitlement area in which a unit of 
general local government or an entity 
designated thereby has established a 
small business emergency fund, a 
State should, as quickly as is prac-
ticable, distribute amounts to that 
unit of general local government or 
entity, respectively, as described in 
item (aa) of such subclause. 
(iii) TREATMENT
OF
STATES
NOT 
ACTING AS PASS-THROUGH AGENTS UNDER 
CDBG.—The 
Secretary 
shall 
allocate 
amounts to a State under this paragraph 
without regard to whether the State has 
elected to distribute amounts allocated 
under section 106(d)(1) of the Housing 
and Community Development Act of 1974 
(42 U.S.C. 5306(d)(1)). 
(2) USE OF FUNDS.— 
(A) IN GENERAL.—A State, unit of general 
local government, or Indian Tribe that receives 
an allocation under paragraph (1), or an entity 
designated by a unit of general local govern-
ment under paragraph (1)(C)(ii)(I)(aa), wheth-
er directly or indirectly, may use such alloca-
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694 
tion, not later than 60 days after receipt of 
such allocation— 
(i) to provide funding to a small busi-
ness emergency fund established by that 
State (or entity designated thereby), that 
unit of general local government (or entity 
designated thereby), that entity designated 
by a unit of general local government, or 
that Indian Tribe (or entity designated 
thereby), respectively; 
(ii) to provide funding to support or-
ganizations that provide technical assist-
ance to eligible entities; or 
(iii) subject to subparagraph (B), to 
pay for administrative costs incurred by 
that State (or entity designated thereby), 
that unit of general local government (or 
entity designated thereby), that entity des-
ignated by a unit of general local govern-
ment, or that Indian Tribe (or entity des-
ignated thereby), respectively, in estab-
lishing and administering a small business 
emergency fund. 
(B) LIMITATION.—A State, unit of general 
local government, or Indian Tribe, or an entity 
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695 
designated by a unit of general local govern-
ment under paragraph (1)(C)(ii)(I)(aa), may 
not use more than 3 percent of an allocation re-
ceived under paragraph (1) for a purpose de-
scribed in subparagraph (A)(iii) of this para-
graph. 
(C) OBLIGATION DEADLINES.— 
(i) STATES.—Of the amounts that a 
State 
elects 
under 
paragraph 
(1)(C)(ii)(I)(bb) to reserve for use by the 
State under this paragraph— 
(I) any amounts that the State 
provides to a small business emer-
gency fund under subparagraph (A)(i) 
of this paragraph shall be obligated by 
the small business emergency fund for 
expenditure not later than 74 days 
after the date on which the State re-
ceived the amounts from the Sec-
retary under clause (i) or (ii) of para-
graph (1)(A); and 
(II) any amounts that the State 
chooses to provide to an organization 
under subparagraph (A)(ii) of this 
paragraph, or to use to pay for ad-
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696 
ministrative costs under subparagraph 
(A)(iii) of this paragraph, shall be ob-
ligated by the State for expenditure 
not later than 74 days after the date 
on which the State received the 
amounts from the Secretary under 
clause (i) or (ii) of paragraph (1)(A). 
(ii) ENTITLEMENT
COMMUNITIES.— 
Of the amounts that an entitlement com-
munity receives from the Secretary under 
paragraph (1)(B)(i)(I)— 
(I) any amounts that the entitle-
ment community provides to a small 
business emergency fund under sub-
paragraph (A)(i) of this paragraph 
shall be obligated by the small busi-
ness emergency fund for expenditure 
not later than 74 days after the date 
on which the entitlement community 
received the amounts; and 
(II) any amounts that the entitle-
ment community chooses to provide to 
an organization under subparagraph 
(A)(ii) of this paragraph, or to use to 
pay for administrative costs under 
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697 
subparagraph (A)(iii) of this para-
graph, shall be obligated by the enti-
tlement community for expenditure 
not later than 74 days after the date 
on which the entitlement community 
received the amounts. 
(iii) 
NONENTITLEMENT
COMMU-
NITIES.—Of the amounts that a unit of 
general local government, or an entity des-
ignated thereby, located in a nonentitle-
ment area receives from a State under 
paragraph (1)(C)(ii)(I)(aa)— 
(I) any amounts that the unit of 
general local government or entity 
provides to a small business emer-
gency fund under subparagraph (A)(i) 
of this paragraph shall be obligated by 
the small business emergency fund for 
expenditure not later than 60 days 
after the date on which the unit of 
general local government or entity re-
ceived the amounts; and 
(II) any amounts that the unit of 
general local government or entity 
chooses to provide to a support orga-
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698 
nization under subparagraph (A)(ii) of 
this paragraph or to use to pay for 
administrative costs under subpara-
graph (A)(iii) of this paragraph shall 
be obligated by the unit of general 
local government or entity for expend-
iture not later than 60 days after the 
date on which the unit of general local 
government or entity received the 
amounts. 
(D) 
RECOVERY
OF
UNOBLIGATED 
FUNDS.—If a State, entitlement community, 
other unit of general local government, entity 
designated by a unit of general local govern-
ment under paragraph (1)(C)(ii)(I)(aa), or 
small business emergency fund fails to obligate 
amounts by the applicable deadline under sub-
paragraph (C), the Secretary shall recover the 
amount of those amounts that remain unobli-
gated, as of that deadline. 
(E) COLLABORATION.—It is the sense of 
Congress that— 
(i) an entitlement community that re-
ceives amounts allocated under paragraph 
(1)(B)(i)(I) should collaborate with the ap-
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699 
plicable local entity responsible for eco-
nomic development and small business de-
velopment in establishing and admin-
istering a small business emergency fund; 
and 
(ii) States, units of general local gov-
ernment, and Indian Tribes that receive 
amounts under paragraph (1) and are lo-
cated in the same region should collaborate 
in establishing and administering one or 
more small business emergency funds. 
(c) SMALL BUSINESS EMERGENCY FUNDS.—With 
respect to a small business emergency fund that receives 
funds from an allocation made under subsection (b)— 
(1) if the small business emergency fund makes 
a loan to an eligible entity with those funds, the 
small business emergency fund may use amounts re-
turned to the small business emergency fund from 
the repayment of the loan to provide further assist-
ance to eligible entities without regard to the termi-
nation date described in subsection (g); and 
(2) the small business emergency fund shall 
conduct outreach to eligible entities that are less 
likely to participate in programs established under 
the CARES Act (Public Law 116–136; 134 Stat. 
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700 
281) and the amendments made by that Act, includ-
ing minority-owned entities, businesses in low-in-
come communities, businesses in rural and Tribal 
areas, and other businesses that are underserved by 
the traditional banking system. 
(d) INFORMATION GATHERING.— 
(1) IN GENERAL.—When providing assistance 
to an eligible entity with funds received from an allo-
cation made under subsection (b), the State, unit of 
general local government, or Indian Tribe, or the en-
tity designated by a State, unit of general local gov-
ernment, or Indian Tribe, that provides assistance 
through a small business emergency fund shall— 
(A) inquire whether the eligible entity is— 
(i) in the case of an eligible entity 
that is a business entity or a nonprofit or-
ganization, a women-owned entity or a mi-
nority-owned entity; and 
(ii) in the case of an eligible entity 
who is an individual, a woman or a minor-
ity; and 
(B) maintain a record of the responses to 
each inquiry conducted under subparagraph 
(A), which the entity shall promptly submit to 
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701 
the applicable State, unit of general local gov-
ernment, or Indian Tribe. 
(2) RIGHT TO REFUSE.—An eligible entity may 
refuse to provide any information requested under 
paragraph (1)(A). 
(e) REPORTING.— 
(1) IN GENERAL.—Not later than 30 days after 
the date on which a State, unit of general local gov-
ernment, or Indian Tribe initially receives an alloca-
tion made under subsection (b), and not later than 
14 days after the date on which that State, unit of 
local government, or Indian Tribe completes the full 
expenditure of that allocation, that State, unit of 
general local government, or Indian Tribe shall sub-
mit to the Secretary a report that includes— 
(A) the number of recipients of assistance 
made available from the allocation; 
(B) the total amount, and type, of assist-
ance made available from the allocation; 
(C) to the extent applicable, with respect 
to each recipient described in subparagraph 
(A), information regarding the industry of the 
recipient, the amount of assistance received by 
the recipient, the annual sales of the recipient, 
and the number of employees of the recipient; 
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702 
(D) to the extent available from informa-
tion collected under subsection (d), information 
regarding the number of recipients described in 
subparagraph (A) that are minority-owned enti-
ties, minorities, women, and women-owned enti-
ties; 
(E) the ZIP Code of each recipient de-
scribed in subparagraph (A); and 
(F) any other information that the Sec-
retary, in the sole discretion of the Secretary, 
determines to be necessary to carry out the 
Program. 
(2) PUBLIC AVAILABILITY.—As soon as is prac-
ticable after receiving each report submitted under 
paragraph (1), the Secretary shall make all informa-
tion contained in the report publicly available. 
(f) RULES AND GUIDANCE.—The Secretary, in con-
sultation with the Administrator, shall issue any rules and 
guidance that are necessary to carry out the Program, in-
cluding by establishing appropriate compliance and report-
ing requirements in addition to the reporting requirements 
under subsection (e). 
(g) TERMINATION.—The Program, and any rules and 
guidance issued under subsection (f) with respect to the 
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703 
Program, shall terminate on the date that is 1 year after 
the date of enactment of this Act. 
(h) DEFINITIONS.—In this section: 
(1) ADMINISTRATOR.—The term ‘‘Adminis-
trator’’ means the Administrator of the Small Busi-
ness Administration. 
(2) ELIGIBLE ENTITY.—The term ‘‘eligible enti-
ty’’— 
(A) means a business concern or a non-
profit organization (as defined in section 
7(a)(36)(A)(vii) that— 
(i) employs— 
(I) not more than 20 full-time 
equivalent employees; or 
(II) if the entity or organization 
is located in a low-income community, 
not more than 50 full-time equivalent 
employees; 
(ii) has experienced a loss of revenue 
as a result of the COVID–19 pandemic, 
according to criteria established by the 
Secretary; and 
(iii) with respect to such an entity or 
organization that receives assistance from 
a small business emergency fund, satisfies 
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704 
additional requirements, as determined by 
the State, unit of general local government, 
Indian Tribe, or other entity that has es-
tablished the small business emergency 
fund; and 
(B) includes an individual who operates 
under a sole proprietorship, an individual who 
operates as an independent contractor, and an 
eligible self-employed individual if such an indi-
vidual has experienced a loss of revenue as a re-
sult of the COVID–19 pandemic, according to 
criteria established by the Secretary. 
(3) ELIGIBLE SELF-EMPLOYED INDIVIDUAL.— 
The term ‘‘eligible self-employed individual’’ has the 
meaning given the term in section 7(a)(36)(A) of the 
Small Business Act (15 U.S.C. 636(a)(36)(A)). 
(4) ENTITLEMENT
COMMUNITY.—The term 
‘‘entitlement community’’ means a metropolitan city 
or urban county, as those terms are defined in sec-
tion 102 of the Housing and Community Develop-
ment Act of 1974 (42 U.S.C. 5302). 
(5) FULL-TIME EQUIVALENT EMPLOYEES.— 
(A) IN
GENERAL.—The term ‘‘full-time 
equivalent employees’’ means a number of em-
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705 
ployees equal to the number determined by di-
viding— 
(i) the total number of hours of serv-
ice for which wages were paid by the em-
ployer to employees during the taxable 
year, by 
(ii) 2,080. 
(B) ROUNDING.—The number determined 
under subparagraph (A) shall be rounded to the 
next lowest whole number if not otherwise a 
whole number. 
(C) EXCESS HOURS NOT COUNTED.—If an 
employee works in excess of 2,080 hours of 
service during any taxable year, such excess 
shall not be taken into account under subpara-
graph (A). 
(D) HOURS OF SERVICE.—The Secretary, 
in consultation with the Secretary of Labor, 
shall prescribe such regulations, rules, and 
guidance as may be necessary to determine the 
hours of service of an employee, including rules 
for the application of this paragraph to employ-
ees who are not compensated on an hourly 
basis. 
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706 
(6) INDIAN TRIBE.—The term ‘‘Indian Tribe’’ 
has the meaning given the term ‘‘Indian tribe’’ in 
section 102 of the Housing and Community Devel-
opment Act of 1974 (42 U.S.C. 5302). 
(7) LOW-INCOME COMMUNITY.—The term ‘‘low- 
income community’’ has the meaning given the term 
in section 45D(e) of the Internal Revenue Code of 
1986. 
(8) MINORITY.—The term ‘‘minority’’ has the 
meaning given the term in section 1204(c)(3) of the 
Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1811 note). 
(9) MINORITY-OWNED ENTITY.—The term ‘‘mi-
nority-owned entity’’ means an entity— 
(A) more than 50 percent of the ownership 
or control of which is held by not less than 1 
minority; and 
(B) more than 50 percent of the net profit 
or loss of which accrues to not less than 1 mi-
nority. 
(10) NONENTITLEMENT AREA; STATE; UNIT OF 
GENERAL LOCAL GOVERNMENT.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), the terms ‘‘nonentitlement 
area’’, ‘‘State’’, and ‘‘unit of general local gov-
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707 
ernment’’ have the meanings given those terms 
in section 102 of the Housing and Community 
Development Act of 1974 (42 U.S.C. 5302). 
(B) STATE.—For purposes of subpara-
graphs (A)(ii) and (B)(ii) of subsection (b)(1), 
the term ‘‘State’’ means any State of the 
United States. 
(11) PROGRAM.—The term ‘‘Program’’ means 
the Small Business Local Relief Program established 
under this section. 
(12) 
SECRETARY.—The 
term 
‘‘Secretary’’ 
means the Secretary of the Treasury. 
(13) SMALL
BUSINESS
EMERGENCY
FUND.— 
The term ‘‘small business emergency fund’’ means a 
fund or program— 
(A) established by a State, a unit of gen-
eral local government, an Indian Tribe, or an 
entity designated by a State, unit of general 
local government, or Indian Tribe; and 
(B) that provides or administers financing 
to eligible entities in the form of grants, loans, 
or other means in accordance with the needs of 
eligible entities and the capacity of the fund or 
program. 
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708 
(14) 
WOMEN-OWNED
ENTITY.—The 
term 
‘‘women-owned entity’’ means an entity— 
(A) more than 50 percent of the ownership 
or control of which is held by not less than 1 
woman; and 
(B) more than 50 percent of the net profit 
or loss of which accrues to not less than 1 
woman. 
SEC. 619. GRANTS FOR INDEPENDENT LIVE VENUE OPERA-
TORS. 
(a) DEFINITIONS.—In this section: 
(1) ADMINISTRATOR.—The term ‘‘Adminis-
trator’’ means the Administrator of the Small Busi-
ness Administration. 
(2) ELIGIBLE
OPERATOR, PROMOTER, PRO-
DUCER, OR TALENT REPRESENTATIVE.— 
(A) IN GENERAL.—The term ‘‘eligible op-
erator, promoter, producer, or talent represent-
ative’’ means a live venue operator or producer 
or promoter or a talent representative that 
meets the following requirements: 
(i) The live venue operator or pro-
ducer or promoter or the talent representa-
tive was fully operational as a live venue 
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operator or producer or promoter or talent 
representative on February 29, 2020. 
(ii) As of the date of the grant under 
this section— 
(I) the live venue operator or 
producer or promoter is organizing, 
promoting, producing, managing, or 
hosting future events described in 
paragraph (4)(A)(i); or 
(II) the talent representative is 
representing or managing artists and 
entertainers. 
(iii) The venues at which the live 
venue operator or producer or promoter 
promotes, produces, manages, or hosts 
events described in paragraph (4)(A)(i) or 
the artists and entertainers represented or 
managed by the talent representative per-
form have the following characteristics: 
(I) A defined performance and 
audience space. 
(II) Mixing equipment, a public 
address system, and a lighting rig. 
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