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(21 U.S.C. 360fff et seq.) is amended by adding at the 
end the following: 
‘‘SEC. 586H. SUNSET. 
‘‘This subchapter shall cease to be effective at the end 
of fiscal year 2022.’’. 
(5) TREATMENT OF FINAL SUNSCREEN ORDER.— 
The Federal Food, Drug, and Cosmetic Act is amend-
ed by striking section 586E of such Act (21 U.S.C. 
360fff–5). 
(c) TREATMENT OF AUTHORITY REGARDING FINALIZA-
TION OF SUNSCREEN MONOGRAPH.— 
(1) IN GENERAL.— 
(A) 
REVISION
OF
FINAL
SUNSCREEN 
ORDER.—The Secretary of Health and Human 
Services (referred to in this subsection as the 
‘‘Secretary’’) shall amend and revise the final 
administrative order concerning nonprescription 
sunscreen (referred to in this subsection as the 
‘‘sunscreen order’’) for which the content, prior 
to the date of enactment of this Act, was rep-
resented by the final monograph for sunscreen 
drug products set forth in part 352 of title 21, 
Code of Federal Regulations (as in effect on May 
21, 1999).
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† HR 748 EAS 
(B) ISSUANCE
OF
REVISED
SUNSCREEN 
ORDER; EFFECTIVE DATE.—A revised sunscreen 
order described in subparagraph (A) shall be— 
(i) issued in accordance with the proce-
dures described in section 505G(b)(2) of the 
Federal Food, Drug, and Cosmetic Act; 
(ii) issued in proposed form not later 
than 18 months after the date of enactment 
of this Act; and 
(iii) issued by the Secretary at least 1 
year prior to the effective date of the revised 
order. 
(2) REPORTS.—If a revised sunscreen order 
issued under paragraph (1) does not include provi-
sions related to the effectiveness of various sun protec-
tion factor levels, and does not address all dosage 
forms known to the Secretary to be used in sunscreens 
marketed in the United States without a new drug 
application approved under section 505 of the Federal 
Food, Drug, and Cosmetic Act (21 U.S.C. 355), the 
Secretary shall submit a report to the Committee on 
Energy and Commerce of the House of Representa-
tives and the Committee on Health, Education, 
Labor, and Pensions of the Senate on the rationale 
for omission of such provisions from such order, and
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† HR 748 EAS 
a plan and timeline to compile any information nec-
essary to address such provisions through such order. 
(d) TREATMENT OF NON-SUNSCREEN TIME AND EX-
TENT APPLICATIONS.— 
(1) IN GENERAL.—Any application described in 
section 586F of the Federal Food, Drug, and Cosmetic 
Act (21 U.S.C. 360fff–6) that was submitted to the 
Secretary pursuant to section 330.14 of title 21, Code 
of Federal Regulations, as such provisions were in ef-
fect immediately prior to the date of enactment date 
of this Act, shall be extinguished as of such date of en-
actment, subject to paragraph (2). 
(2) ORDER
REQUEST.—Nothing in paragraph 
(1) precludes the submission of an order request under 
section 505G(b) of the Federal Food, Drug, and Cos-
metic Act, as added by section 3851 of this subtitle, 
with respect to a drug that was the subject of an ap-
plication extinguished under paragraph (1). 
SEC. 3855. ANNUAL UPDATE TO CONGRESS ON APPRO-
PRIATE PEDIATRIC INDICATION FOR CER-
TAIN OTC COUGH AND COLD DRUGS. 
(a) IN GENERAL.—Subject to subsection (c), the Sec-
retary of Health and Human Services shall, beginning not 
later than 1 year after the date of enactment of this Act, 
annually submit to the Committee on Energy and Com-
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† HR 748 EAS 
merce of the House of Representatives and the Committee 
on Health, Education, Labor, and Pensions of the Senate 
a letter describing the progress of the Food and Drug Ad-
ministration— 
(1) in evaluating the cough and cold monograph 
described in subsection (b) with respect to children 
under age 6; and 
(2) as appropriate, revising such cough and cold 
monograph to address such children through the order 
process under section 505G(b) of the Federal Food, 
Drug, and Cosmetic Act, as added by section 3851 of 
this subtitle. 
(b) COUGH AND COLD MONOGRAPH DESCRIBED.—The 
cough and cold monograph described in this subsection con-
sists of the conditions under which nonprescription drugs 
containing antitussive, expectorant, nasal decongestant, or 
antihistamine active ingredients (or combinations thereof) 
are generally recognized as safe and effective, as specified 
in part 341 of title 21, Code of Federal Regulations (as 
in effect immediately prior to the date of enactment of this 
Act), and included in an order deemed to be established 
under section 505G(b) of the Federal Food, Drug, and Cos-
metic Act, as added by section 3851 of this subtitle. 
(c) DURATION
OF
AUTHORITY.—The requirement 
under subsection (a) shall terminate as of the date of a letter
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† HR 748 EAS 
submitted by the Secretary of Health and Human Services 
pursuant to such subsection in which the Secretary indi-
cates that the Food and Drug Administration has completed 
its evaluation and revised, in a final order, as applicable, 
the cough and cold monograph as described in subsection 
(a)(2). 
SEC. 3856. TECHNICAL CORRECTIONS. 
(a) 
IMPORTS
AND
EXPORTS.—Section 
801(e)(4)(E)(iii) of the Federal Food, Drug, and Cosmetic 
Act (21 U.S.C. 381(e)(4)(E)(iii)) is amended by striking 
‘‘subparagraph’’ each place such term appears and insert-
ing ‘‘paragraph’’. 
(b) FDA REAUTHORIZATION ACT OF 2017.— 
(1) IN GENERAL.—Section 905(b)(4) of the FDA 
Reauthorization Act of 2017 (Public Law 115–52) is 
amended by striking ‘‘Section 744H(e)(2)(B)’’ and 
inserting ‘‘Section 744H(f)(2)(B)’’. 
(2) EFFECTIVE DATE.—The amendment made by 
paragraph (1) shall take effect as of the enactment of 
the FDA Reauthorization Act of 2017 (Public Law 
115–52). 
PART II—USER FEES 
SEC. 3861. FINDING. 
The Congress finds that the fees authorized by the 
amendments made in this part will be dedicated to OTC
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† HR 748 EAS 
monograph drug activities, as set forth in the goals identi-
fied for purposes of part 10 of subchapter C of chapter VII 
of the Federal Food, Drug, and Cosmetic Act, in the letters 
from the Secretary of Health and Human Services to the 
Chairman of the Committee on Health, Education, Labor, 
and Pensions of the Senate and the Chairman of the Com-
mittee on Energy and Commerce of the House of Represent-
atives, as set forth in the Congressional Record. 
SEC. 3862. FEES RELATING TO OVER-THE-COUNTER DRUGS. 
Subchapter C of chapter VII of the Federal Food, 
Drug, and Cosmetic Act (21 U.S.C. 379f et seq.) is amended 
by inserting after part 9 the following: 
‘‘PART 10—FEES RELATING TO OVER-THE- 
COUNTER DRUGS 
‘‘SEC. 744L. DEFINITIONS. 
‘‘In this part: 
‘‘(1) The term ‘affiliate’ means a business entity 
that has a relationship with a second business entity 
if, directly or indirectly— 
‘‘(A) one business entity controls, or has the 
power to control, the other business entity; or 
‘‘(B) a third party controls, or has power to 
control, both of the business entities. 
‘‘(2) The term ‘contract manufacturing organiza-
tion facility’ means an OTC monograph drug facility
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† HR 748 EAS 
where neither the owner of such manufacturing facil-
ity nor any affiliate of such owner or facility sells the 
OTC monograph drug produced at such facility di-
rectly to wholesalers, retailers, or consumers in the 
United States. 
‘‘(3) The term ‘costs of resources allocated for 
OTC monograph drug activities’ means the expenses 
in connection with OTC monograph drug activities 
for— 
‘‘(A) officers and employees of the Food and 
Drug Administration, contractors of the Food 
and Drug Administration, advisory committees, 
and costs related to such officers, employees, and 
committees and costs related to contracts with 
such contractors; 
‘‘(B) management of information, and the 
acquisition, maintenance, and repair of com-
puter resources; 
‘‘(C) leasing, maintenance, renovation, and 
repair of facilities and acquisition, maintenance, 
and repair of fixtures, furniture, scientific equip-
ment, and other necessary materials and sup-
plies; and
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† HR 748 EAS 
‘‘(D) collecting fees under section 744M and 
accounting for resources allocated for OTC mono-
graph drug activities. 
‘‘(4) The term ‘FDA establishment identifier’ is 
the unique number automatically generated by Food 
and Drug Administration’s Field Accomplishments 
and Compliance Tracking System (FACTS) (or any 
successor system). 
‘‘(5) The term ‘OTC monograph drug’ means a 
nonprescription drug without an approved new drug 
application which is governed by the provisions of 
section 505G. 
‘‘(6) The term ‘OTC monograph drug activities’ 
means activities of the Secretary associated with OTC 
monograph drugs and inspection of facilities associ-
ated with such products, including the following ac-
tivities: 
‘‘(A) The activities necessary for review and 
evaluation of OTC monographs and OTC mono-
graph order requests, including— 
‘‘(i) orders proposing or finalizing ap-
plicable conditions of use for OTC mono-
graph drugs; 
‘‘(ii) orders affecting status regarding 
general recognition of safety and effective-
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† HR 748 EAS 
ness of an OTC monograph ingredient or 
combination of ingredients under specified 
conditions of use; 
‘‘(iii) all OTC monograph drug devel-
opment and review activities, including 
intra-agency collaboration; 
‘‘(iv) regulation and policy develop-
ment activities related to OTC monograph 
drugs; 
‘‘(v) development of product standards 
for products subject to review and evalua-
tion; 
‘‘(vi) meetings referred to in section 
505G(i); 
‘‘(vii) review of labeling prior to 
issuance of orders related to OTC mono-
graph drugs or conditions of use; and 
‘‘(viii) regulatory science activities re-
lated to OTC monograph drugs. 
‘‘(B) Inspections related to OTC monograph 
drugs. 
‘‘(C) Monitoring of clinical and other re-
search conducted in connection with OTC mono-
graph drugs.
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† HR 748 EAS 
‘‘(D) Safety activities with respect to OTC 
monograph drugs, including— 
‘‘(i) collecting, developing, and review-
ing safety information on OTC monograph 
drugs, including adverse event reports; 
‘‘(ii) developing and using improved 
adverse event data-collection systems, in-
cluding information technology systems; 
and 
‘‘(iii) developing and using improved 
analytical tools to assess potential safety 
risks, including access to external databases. 
‘‘(E) Other activities necessary for imple-
mentation of section 505G. 
‘‘(7) The term ‘OTC monograph order request’ 
means a request for an order submitted under section 
505G(b)(5). 
‘‘(8) The term ‘Tier 1 OTC monograph order re-
quest’ means any OTC monograph order request not 
determined to be a Tier 2 OTC monograph order re-
quest. 
‘‘(9)(A) The term ‘Tier 2 OTC monograph order 
request’ means, subject to subparagraph (B), an OTC 
monograph order request for—
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† HR 748 EAS 
‘‘(i) the reordering of existing information 
in the drug facts label of an OTC monograph 
drug; 
‘‘(ii) the addition of information to the 
other information section of the drug facts label 
of an OTC monograph drug, as limited by sec-
tion 201.66(c)(7) of title 21, Code of Federal 
Regulations (or any successor regulations); 
‘‘(iii) modification to the directions for use 
section of the drug facts label of an OTC mono-
graph drug, if such changes conform to changes 
made pursuant to section 505G(c)(3)(A); 
‘‘(iv) the standardization of the concentra-
tion or dose of a specific finalized ingredient 
within a particular finalized monograph; 
‘‘(v) a change to ingredient nomenclature to 
align with nomenclature of a standards-setting 
organization; or 
‘‘(vi) addition of an interchangeable term in 
accordance with section 330.1 of title 21, Code of 
Federal Regulations (or any successor regula-
tions). 
‘‘(B) The Secretary may, based on program im-
plementation experience or other factors found appro-
priate by the Secretary, characterize any OTC mono-
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† HR 748 EAS 
graph order request as a Tier 2 OTC monograph 
order request (including recharacterizing a request 
from Tier 1 to Tier 2) and publish such determina-
tion in a proposed order issued pursuant to section 
505G. 
‘‘(10)(A) The term ‘OTC monograph drug facil-
ity’ means a foreign or domestic business or other en-
tity that— 
‘‘(i) is— 
‘‘(I) under one management, either di-
rect or indirect; and 
‘‘(II) at one geographic location or ad-
dress engaged in manufacturing or proc-
essing the finished dosage form of an OTC 
monograph drug; 
‘‘(ii) includes a finished dosage form manu-
facturer facility in a contractual relationship 
with the sponsor of one or more OTC monograph 
drugs to manufacture or process such drugs; and 
‘‘(iii) does not include a business or other 
entity whose only manufacturing or processing 
activities are one or more of the following: pro-
duction of clinical research supplies, testing, or 
placement of outer packaging on packages con-
taining multiple products, for such purposes as
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† HR 748 EAS 
creating multipacks, when each monograph drug 
product contained within the overpackaging is 
already in a final packaged form prior to place-
ment in the outer overpackaging. 
‘‘(B) For purposes of subparagraph (A)(i)(II), 
separate buildings or locations within close proximity 
are considered to be at one geographic location or ad-
dress if the activities conducted in such buildings or 
locations are— 
‘‘(i) closely related to the same business en-
terprise; 
‘‘(ii) under the supervision of the same local 
management; and 
‘‘(iii) under a single FDA establishment 
identifier and capable of being inspected by the 
Food and Drug Administration during a single 
inspection. 
‘‘(C) If a business or other entity would meet cri-
teria specified in subparagraph (A), but for being 
under multiple management, the business or other en-
tity is deemed to constitute multiple facilities, one per 
management entity, for purposes of this paragraph. 
‘‘(11) The term ‘OTC monograph drug meeting’ 
means any meeting regarding the content of a pro-
posed OTC monograph order request.
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† HR 748 EAS 
‘‘(12) The term ‘person’ includes an affiliate of 
a person. 
‘‘(13) The terms ‘requestor’ and ‘sponsor’ have 
the meanings given such terms in section 505G. 
‘‘SEC. 744M. AUTHORITY TO ASSESS AND USE OTC MONO-
GRAPH FEES. 
‘‘(a) TYPES OF FEES.—Beginning with fiscal year 
2021, the Secretary shall assess and collect fees in accord-
ance with this section as follows: 
‘‘(1) FACILITY FEE.— 
‘‘(A) IN GENERAL.—Each person that owns 
a facility identified as an OTC monograph drug 
facility on December 31 of the fiscal year or at 
any time during the preceding 12-month period 
shall be assessed an annual fee for each such fa-
cility as determined under subsection (c). 
‘‘(B) EXCEPTIONS.— 
‘‘(i) FACILITIES THAT CEASE ACTIVI-
TIES.—A fee shall not be assessed under 
subparagraph (A) if the identified OTC 
monograph drug facility— 
‘‘(I) has ceased all activities re-
lated to OTC monograph drugs prior 
to December 31 of the year imme-
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† HR 748 EAS 
diately preceding the applicable fiscal 
year; and 
‘‘(II) has updated its registration 
to reflect such change under the re-
quirements for drug establishment reg-
istration set forth in section 510. 
‘‘(ii) CONTRACT MANUFACTURING OR-
GANIZATIONS.—The amount of the fee for a 
contract manufacturing organization facil-
ity shall be equal to two-thirds of the 
amount of the fee for an OTC monograph 
drug facility that is not a contract manu-
facturing organization facility. 
‘‘(C) AMOUNT.—The amount of fees estab-
lished under subparagraph (A) shall be estab-
lished under subsection (c). 
‘‘(D) DUE DATE.— 
‘‘(i) FOR FIRST PROGRAM YEAR.—For 
fiscal year 2021, the facility fees required 
under subparagraph (A) shall be due on the 
later of— 
‘‘(I) the first business day of July 
of 2020; or 
‘‘(II) 45 calendar days after pub-
lication of the Federal Register notice
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† HR 748 EAS 
provided 
for 
under 
subsection 
(c)(4)(A). 
‘‘(ii) SUBSEQUENT
FISCAL
YEARS.— 
For each fiscal year after fiscal year 2021, 
the facility fees required under subpara-
graph (A) shall be due on the later of— 
‘‘(I) the first business day of June 
of such year; or 
‘‘(II) the first business day after 
the enactment of an appropriations 
Act providing for the collection and ob-
ligation of fees under this section for 
such year. 
‘‘(2) OTC MONOGRAPH ORDER REQUEST FEE.— 
‘‘(A) IN GENERAL.—Each person that sub-
mits an OTC monograph order request shall be 
subject to a fee for an OTC monograph order re-
quest. The amount of such fee shall be— 
‘‘(i) for a Tier 1 OTC monograph 
order request, $500,000, adjusted for infla-
tion for the fiscal year (as determined under 
subsection (c)(1)(B)); and 
‘‘(ii) for a Tier 2 OTC monograph 
order request, $100,000, adjusted for infla-
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† HR 748 EAS 
tion for the fiscal year (as determined under 
subsection (c)(1)(B)). 
‘‘(B) DUE
DATE.—The OTC monograph 
order request fees required under subparagraph 
(A) shall be due on the date of submission of the 
OTC monograph order request. 
‘‘(C) EXCEPTION
FOR
CERTAIN
SAFETY 
CHANGES.—A person who is named as the re-
questor in an OTC monograph order shall not be 
subject to a fee under subparagraph (A) if the 
Secretary finds that the OTC monograph order 
request seeks to change the drug facts labeling of 
an OTC monograph drug in a way that would 
add to or strengthen— 
‘‘(i) a contraindication, warning, or 
precaution; 
‘‘(ii) a statement about risk associated 
with misuse or abuse; or 
‘‘(iii) an instruction about dosage and 
administration that is intended to increase 
the safe use of the OTC monograph drug. 
‘‘(D) REFUND OF FEE IF ORDER REQUEST 
IS
RECATEGORIZED
AS
A
TIER
OTC
MONO-
GRAPH ORDER REQUEST.—If the Secretary deter-
mines that an OTC monograph request initially
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† HR 748 EAS 
characterized as Tier 1 shall be re-characterized 
as a Tier 2 OTC monograph order request, and 
the requestor has paid a Tier 1 fee in accordance 
with subparagraph (A)(i), the Secretary shall re-
fund the requestor the difference between the Tier 
1 and Tier 2 fees determined under subpara-
graphs (A)(i) and (A)(ii), respectively. 
‘‘(E) REFUND OF FEE IF ORDER REQUEST 
REFUSED FOR FILING OR WITHDRAWN BEFORE 
FILING.—The Secretary shall refund 75 percent 
of the fee paid under subparagraph (B) for any 
order request which is refused for filing or was 
withdrawn before being accepted or refused for 
filing. 
‘‘(F) FEES
FOR
ORDER
REQUESTS
PRE-
VIOUSLY REFUSED FOR FILING OR WITHDRAWN 
BEFORE FILING.—An OTC monograph order re-
quest that was submitted but was refused for fil-
ing, or was withdrawn before being accepted or 
refused for filing, shall be subject to the full fee 
under subparagraph (A) upon being resubmitted 
or filed over protest. 
‘‘(G) REFUND OF FEE IF ORDER REQUEST 
WITHDRAWN.—If an order request is withdrawn 
after the order request was filed, the Secretary
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† HR 748 EAS 
may refund the fee or a portion of the fee if no 
substantial work was performed on the order re-
quest after the application was filed. The Sec-
retary shall have the sole discretion to refund a 
fee or a portion of the fee under this subpara-
graph. A determination by the Secretary con-
cerning a refund under this subparagraph shall 
not be reviewable. 
‘‘(3) REFUNDS.— 
‘‘(A) IN
GENERAL.—Other than refunds 
provided pursuant to any of subparagraphs (D) 
through (G) of paragraph (2), the Secretary shall 
not refund any fee paid under paragraph (1) ex-
cept as provided in subparagraph (B). 
‘‘(B) DISPUTES
CONCERNING
FEES.—To 
qualify for the return of a fee claimed to have 
been paid in error under paragraph (1) or (2), 
a person shall submit to the Secretary a written 
request justifying such return within 180 cal-
endar days after such fee was paid. 
‘‘(4) NOTICE.—Within the timeframe specified in 
subsection (c), the Secretary shall publish in the Fed-
eral Register the amount of the fees under paragraph 
(1) for such fiscal year. 
‘‘(b) FEE REVENUE AMOUNTS.—
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† HR 748 EAS 
‘‘(1) FISCAL YEAR 2021.—For fiscal year 2021, 
fees under subsection (a)(1) shall be established to 
generate a total facility fee revenue amount equal to 
the sum of— 
‘‘(A) the annual base revenue for fiscal year 
2021 (as determined under paragraph (3)); 
‘‘(B) the dollar amount equal to the oper-
ating reserve adjustment for the fiscal year, if 
applicable (as determined under subsection 
(c)(2)); and 
‘‘(C) additional direct cost adjustments (as 
determined under subsection (c)(3)). 
‘‘(2) SUBSEQUENT FISCAL YEARS.—For each of 
the fiscal years 2022 through 2025, fees under sub-
section (a)(1) shall be established to generate a total 
facility fee revenue amount equal to the sum of— 
‘‘(A) the annual base revenue for the fiscal 
year (as determined under paragraph (3)); 
‘‘(B) the dollar amount equal to the infla-
tion adjustment for the fiscal year (as deter-
mined under subsection (c)(1)); 
‘‘(C) the dollar amount equal to the oper-
ating reserve adjustment for the fiscal year, if 
applicable (as determined under subsection 
(c)(2));
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† HR 748 EAS 
‘‘(D) additional direct cost adjustments (as 
determined under subsection (c)(3)); and 
‘‘(E) additional dollar amounts for each fis-
cal year as follows: 
‘‘(i) $7,000,000 for fiscal year 2022. 
‘‘(ii) $6,000,000 for fiscal year 2023. 
‘‘(iii) $7,000,000 for fiscal year 2024. 
‘‘(iv) $3,000,000 for fiscal year 2025. 
‘‘(3) ANNUAL BASE REVENUE.—For purposes of 
paragraphs (1)(A) and (2)(A), the dollar amount of 
the annual base revenue for a fiscal year shall be— 
‘‘(A) for fiscal year 2021, $8,000,000; and 
‘‘(B) for fiscal years 2022 through 2025, the 
dollar amount of the total revenue amount estab-
lished under this subsection for the previous fis-
cal year, not including any adjustments made 
under subsection (c)(2) or (c)(3). 
‘‘(c) ADJUSTMENTS; ANNUAL FEE SETTING.— 
‘‘(1) INFLATION ADJUSTMENT.— 
‘‘(A) IN GENERAL.—For purposes of sub-
section (b)(2)(B), the dollar amount of the infla-
tion adjustment to the annual base revenue for 
fiscal year 2022 and each subsequent fiscal year 
shall be equal to the product of—
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† HR 748 EAS 
‘‘(i) such annual base revenue for the 
fiscal year under subsection (b)(2); and 
‘‘(ii) the inflation adjustment percent-
age under subparagraph (C). 
‘‘(B) OTC MONOGRAPH
ORDER
REQUEST 
FEES.—For purposes of subsection (a)(2), the 
dollar amount of the inflation adjustment to the 
fee for OTC monograph order requests for fiscal 
year 2022 and each subsequent fiscal year shall 
be equal to the product of— 
‘‘(i) the applicable fee under subsection 
(a)(2) for the preceding fiscal year; and 
‘‘(ii) the inflation adjustment percent-
age under subparagraph (C). 
‘‘(C) INFLATION
ADJUSTMENT
PERCENT-
AGE.—The 
inflation 
adjustment 
percentage 
under this subparagraph for a fiscal year is 
equal to— 
‘‘(i) for each of fiscal years 2022 and 
2023, the average annual percent change 
that occurred in the Consumer Price Index 
for urban consumers (Washington-Balti-
more, DC–MD–VA–WV; Not Seasonally Ad-
justed; All items; Annual Index) for the first
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† HR 748 EAS 
3 years of the preceding 4 years of available 
data; and 
‘‘(ii) for each of fiscal years 2024 and 
2025, the sum of— 
‘‘(I) the average annual percent 
change in the cost, per full-time equiv-
alent position of the Food and Drug 
Administration, of all personnel com-
pensation and benefits paid with re-
spect to such positions for the first 3 
years of the preceding 4 fiscal years, 
multiplied by the proportion of per-
sonnel compensation and benefits costs 
to total costs of OTC monograph drug 
activities for the first 3 years of the 
preceding 4 fiscal years; and 
‘‘(II) the average annual percent 
change that occurred in the Consumer 
Price Index for urban consumers 
(Washington-Baltimore, DC–MD–VA– 
WV; Not Seasonally Adjusted; All 
items; Annual Index) for the first 3 
years of the preceding 4 years of avail-
able data multiplied by the proportion 
of all costs other than personnel com-
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† HR 748 EAS 
pensation and benefits costs to total 
costs of OTC monograph drug activi-
ties for the first 3 years of the pre-
ceding 4 fiscal years. 
‘‘(2) OPERATING RESERVE ADJUSTMENT.— 
‘‘(A) IN GENERAL.—For fiscal year 2021 
and subsequent fiscal years, for purposes of sub-
sections (b)(1)(B) and (b)(2)(C), the Secretary 
may, in addition to adjustments under para-
graph (1), further increase the fee revenue and 
fees if such an adjustment is necessary to provide 
operating reserves of carryover user fees for OTC 
monograph drug activities for not more than the 
number of weeks specified in subparagraph (B). 
‘‘(B) NUMBER OF WEEKS.—The number of 
weeks specified in this subparagraph is— 
‘‘(i) 3 weeks for fiscal year 2021; 
‘‘(ii) 7 weeks for fiscal year 2022; 
‘‘(iii) 10 weeks for fiscal year 2023; 
‘‘(iv) 10 weeks for fiscal year 2024; 
and 
‘‘(v) 10 weeks for fiscal year 2025. 
‘‘(C) DECREASE.—If the Secretary has car-
ryover balances for such process in excess of 10 
weeks of the operating reserves referred to in sub-
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† HR 748 EAS 
paragraph (A), the Secretary shall decrease the 
fee revenue and fees referred to in such subpara-
graph to provide for not more than 10 weeks of 
such operating reserves. 
‘‘(D) RATIONALE FOR ADJUSTMENT.—If an 
adjustment under this paragraph is made, the 
rationale for the amount of the increase or de-
crease (as applicable) in fee revenue and fees 
shall be contained in the annual Federal Reg-
ister notice under paragraph (4) establishing fee 
revenue and fees for the fiscal year involved. 
‘‘(3) ADDITIONAL DIRECT COST ADJUSTMENT.— 
The Secretary shall, in addition to adjustments under 
paragraphs (1) and (2), further increase the fee rev-
enue and fees for purposes of subsection (b)(2)(D) by 
an amount equal to— 
‘‘(A) $14,000,000 for fiscal year 2021; 
‘‘(B) $7,000,000 for fiscal year 2022; 
‘‘(C) $4,000,000 for fiscal year 2023; 
‘‘(D) $3,000,000 for fiscal year 2024; and 
‘‘(E) $3,000,000 for fiscal year 2025. 
‘‘(4) ANNUAL FEE SETTING.— 
‘‘(A) FISCAL
YEAR
2021.—The Secretary 
shall, not later than the second Monday in May 
of 2020—
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† HR 748 EAS 
‘‘(i) establish OTC monograph drug fa-
cility fees for fiscal year 2021 under sub-
section (a), based on the revenue amount for 
such year under subsection (b) and the ad-
justments provided under this subsection; 
and 
‘‘(ii) publish fee revenue, facility fees, 
and OTC monograph order requests in the 
Federal Register. 
‘‘(B) SUBSEQUENT
FISCAL
YEARS.—The 
Secretary shall, for each fiscal year that begins 
after September 30, 2021, not later than the sec-
ond Monday in March that precedes such fiscal 
year— 
‘‘(i) establish for such fiscal year, based 
on the revenue amounts under subsection 
(b) and the adjustments provided under this 
subsection— 
‘‘(I) OTC monograph drug facil-
ity fees under subsection (a)(1); and 
‘‘(II) OTC monograph order re-
quest fees under subsection (a)(2); and 
‘‘(ii) publish such fee revenue amounts, 
facility fees, and OTC monograph order re-
quest fees in the Federal Register.
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‘‘(d) IDENTIFICATION OF FACILITIES.—Each person 
that owns an OTC monograph drug facility shall submit 
to the Secretary the information required under this sub-
section each year. Such information shall, for each fiscal 
year— 
‘‘(1) be submitted as part of the requirements for 
drug establishment registration set forth in section 
510; and 
‘‘(2) include for each such facility, at a min-
imum, identification of the facility’s business oper-
ation as that of an OTC monograph drug facility. 
‘‘(e) EFFECT OF FAILURE TO PAY FEES.— 
‘‘(1) OTC MONOGRAPH DRUG FACILITY FEE.— 
‘‘(A) IN GENERAL.—Failure to pay the fee 
under subsection (a)(1) within 20 calendar days 
of the due date as specified in subparagraph (D) 
of such subsection shall result in the following: 
‘‘(i) The Secretary shall place the facil-
ity on a publicly available arrears list. 
‘‘(ii) All OTC monograph drugs manu-
factured in such a facility or containing an 
ingredient manufactured in such a facility 
shall be deemed misbranded under section 
502(ff).
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‘‘(B) APPLICATION
OF
PENALTIES.—The 
penalties under this paragraph shall apply until 
the fee established by subsection (a)(1) is paid. 
‘‘(2) ORDER REQUESTS.—An OTC monograph 
order request submitted by a person subject to fees 
under subsection (a) shall be considered incomplete 
and shall not be accepted for filing by the Secretary 
until all fees owed by such person under this section 
have been paid. 
‘‘(3) MEETINGS.—A person subject to fees under 
this section shall be considered ineligible for OTC 
monograph drug meetings until all such fees owed by 
such person have been paid. 
‘‘(f) CREDITING AND AVAILABILITY OF FEES.— 
‘‘(1) IN GENERAL.—Fees authorized under sub-
section (a) shall be collected and available for obliga-
tion only to the extent and in the amount provided 
in advance in appropriations Acts. Such fees are au-
thorized to remain available until expended. Such 
sums as may be necessary may be transferred from 
the Food and Drug Administration salaries and ex-
penses appropriation account without fiscal year lim-
itation to such appropriation account for salaries and 
expenses with such fiscal year limitation. The sums
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transferred shall be available solely for OTC mono-
graph drug activities. 
‘‘(2) COLLECTIONS AND APPROPRIATION ACTS.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (C), the fees authorized by this section 
shall be collected and available in each fiscal 
year in an amount not to exceed the amount 
specified in appropriation Acts, or otherwise 
made available for obligation, for such fiscal 
year. 
‘‘(B) USE OF FEES AND LIMITATION.—The 
fees authorized by this section shall be available 
to defray increases in the costs of the resources 
allocated for OTC monograph drug activities 
(including increases in such costs for an addi-
tional number of full-time equivalent positions 
in the Department of Health and Human Serv-
ices to be engaged in such activities), only if the 
Secretary allocates for such purpose an amount 
for such fiscal year (excluding amounts from fees 
collected under this section) no less than 
$12,000,000, multiplied by the adjustment factor 
applicable to the fiscal year involved under sub-
section (c)(1).
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‘‘(C) COMPLIANCE.—The Secretary shall be 
considered to have met the requirements of sub-
paragraph (B) in any fiscal year if the costs 
funded by appropriations and allocated for OTC 
monograph drug activities are not more than 15 
percent below the level specified in such subpara-
graph. 
‘‘(D) PROVISION FOR EARLY PAYMENTS IN 
SUBSEQUENT YEARS.—Payment of fees author-
ized under this section for a fiscal year (after fis-
cal year 2021), prior to the due date for such 
fees, may be accepted by the Secretary in accord-
ance with authority provided in advance in a 
prior year appropriations Act. 
‘‘(3) AUTHORIZATION OF APPROPRIATIONS.—For 
each of the fiscal years 2021 through 2025, there is 
authorized to be appropriated for fees under this sec-
tion an amount equal to the total amount of fees as-
sessed for such fiscal year under this section. 
‘‘(g) COLLECTION OF UNPAID FEES.—In any case 
where the Secretary does not receive payment of a fee as-
sessed under subsection (a) within 30 calendar days after 
it is due, such fee shall be treated as a claim of the United 
States Government subject to subchapter II of chapter 37 
of title 31, United States Code.
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‘‘(h) CONSTRUCTION.—This section may not be con-
strued to require that the number of full-time equivalent 
positions in the Department of Health and Human Serv-
ices, for officers, employers, and advisory committees not 
engaged in OTC monograph drug activities, be reduced to 
offset the number of officers, employees, and advisory com-
mittees so engaged. 
‘‘SEC. 744N. REAUTHORIZATION; REPORTING REQUIRE-
MENTS. 
‘‘(a) PERFORMANCE REPORT.—Beginning with fiscal 
year 2021, and not later than 120 calendar days after the 
end of each fiscal year thereafter for which fees are collected 
under this part, the Secretary shall prepare and submit to 
the Committee on Energy and Commerce of the House of 
Representatives and the Committee on Health, Education, 
Labor, and Pensions of the Senate a report concerning the 
progress of the Food and Drug Administration in achieving 
the goals identified in the letters described in section 
3861(b) of the CARES Act during such fiscal year and the 
future plans of the Food and Drug Administration for meet-
ing such goals. 
‘‘(b) FISCAL REPORT.—Not later than 120 calendar 
days after the end of fiscal year 2021 and each subsequent 
fiscal year for which fees are collected under this part, the 
Secretary shall prepare and submit to the Committee on
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Energy and Commerce of the House of Representatives and 
the Committee on Health, Education, Labor, and Pensions 
of the Senate a report on the implementation of the author-
ity for such fees during such fiscal year and the use, by 
the Food and Drug Administration, of the fees collected for 
such fiscal year. 
‘‘(c) PUBLIC AVAILABILITY.—The Secretary shall make 
the reports required under subsections (a) and (b) available 
to the public on the internet website of the Food and Drug 
Administration. 
‘‘(d) REAUTHORIZATION.— 
‘‘(1) 
CONSULTATION.—In 
developing 
rec-
ommendations to present to the Congress with respect 
to the goals described in subsection (a), and plans for 
meeting the goals, for OTC monograph drug activities 
for the first 5 fiscal years after fiscal year 2025, and 
for the reauthorization of this part for such fiscal 
years, the Secretary shall consult with— 
‘‘(A) the Committee on Energy and Com-
merce of the House of Representatives; 
‘‘(B) the Committee on Health, Education, 
Labor, and Pensions of the Senate; 
‘‘(C) scientific and academic experts; 
‘‘(D) health care professionals;
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‘‘(E) representatives of patient and con-
sumer advocacy groups; and 
‘‘(F) the regulated industry. 
‘‘(2) PUBLIC REVIEW OF RECOMMENDATIONS.— 
After negotiations with the regulated industry, the 
Secretary shall— 
‘‘(A) present the recommendations developed 
under paragraph (1) to the congressional com-
mittees specified in such paragraph; 
‘‘(B) publish such recommendations in the 
Federal Register; 
‘‘(C) provide for a period of 30 calendar 
days for the public to provide written comments 
on such recommendations; 
‘‘(D) hold a meeting at which the public 
may present its views on such recommendations; 
and 
‘‘(E) after consideration of such public 
views and comments, revise such recommenda-
tions as necessary. 
‘‘(3) TRANSMITTAL OF RECOMMENDATIONS.—Not 
later than January 15, 2025, the Secretary shall 
transmit to the Congress the revised recommendations 
under paragraph (2), a summary of the views and 
comments received under such paragraph, and any
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changes made to the recommendations in response to 
such views and comments.’’. 
TITLE IV—ECONOMIC STABILIZA-
TION AND ASSISTANCE TO SE-
VERELY 
DISTRESSED 
SEC-
TORS OF THE UNITED STATES 
ECONOMY 
Subtitle A—Coronavirus Economic 
Stabilization Act of 2020 
SEC. 4001. SHORT TITLE. 
This subtitle may be cited as the ‘‘Coronavirus Eco-
nomic Stabilization Act of 2020’’. 
SEC. 4002. DEFINITIONS. 
In this subtitle: 
(1) AIR CARRIER.—The term ‘‘air carrier’’ has 
the meaning such term has under section 40102 of 
title 49, United States Code. 
(2) CORONAVIRUS.—The term ‘‘coronavirus’’ 
means SARS–CoV–2 or another coronavirus with 
pandemic potential. 
(3) COVERED LOSS.—The term ‘‘covered loss’’ in-
cludes losses incurred directly or indirectly as a result 
of coronavirus, as determined by the Secretary. 
(4) ELIGIBLE
BUSINESS.—The term ‘‘eligible 
business’’ means—
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(A) an air carrier; or 
(B) a United States business that has not 
otherwise received adequate economic relief in the 
form of loans or loan guarantees provided under 
this Act. 
(5) EMPLOYEE.—Except where the context other-
wise requires, the term ‘‘employee’’— 
(A) has the meaning given the term in sec-
tion 2 of the National Labor Relations Act (29 
U.S.C. 152); and 
(B) includes any individual employed by 
an employer subject to the Railway Labor Act 
(45 U.S.C. 151 et seq.). 
(6) EQUITY SECURITY; EXCHANGE.—The terms 
‘‘equity security’’ and ‘‘exchange’’ have the meanings 
given the terms in section 3(a) of the Securities Ex-
change Act of 1934 (15 U.S.C. 78c(a)). 
(7) MUNICIPALITY.—The term ‘‘municipality’’ 
includes— 
(A) a political subdivision of a State, and 
(B) an instrumentality of a municipality, a 
State, or a political subdivision of a State. 
(8) NATIONAL
SECURITIES
EXCHANGE.—The 
term ‘‘national securities exchange’’ means an ex-
change registered as a national securities exchange
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under section 6 of the Securities Exchange Act of 
1934 (15 U.S.C. 78f). 
(9) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury, or the designee of the 
Secretary of the Treasury. 
(10) STATE.—The term ‘‘State’’ means— 
(A) any of the several States; 
(B) the District of Columbia; 
(C) any of the territories and possessions of 
the United States; 
(D) any bi-State or multi-State entity; and 
(E) any Indian Tribe. 
SEC. 4003. EMERGENCY RELIEF AND TAXPAYER PROTEC-
TIONS. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, to provide liquidity to eligible businesses, 
States, and municipalities related to losses incurred as a 
result of coronavirus, the Secretary is authorized to make 
loans, loan guarantees, and other investments in support 
of eligible businesses, States, and municipalities that do not, 
in the aggregate, exceed $500,000,000,000 and provide the 
subsidy amounts necessary for such loans, loan guarantees, 
and other investments in accordance with the provisions of 
the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et 
seq.).
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† HR 748 EAS 
(b) LOANS, LOAN GUARANTEES, AND OTHER INVEST-
MENTS.—Loans, loan guarantees, and other investments 
made pursuant to subsection (a) shall be made available 
as follows: 
(1) Not more than $25,000,000,000 shall be 
available to make loans and loan guarantees for pas-
senger air carriers, eligible businesses that are cer-
tified under part 145 of title 14, Code of Federal Reg-
ulations, and approved to perform inspection, repair, 
replace, or overhaul services, and ticket agents (as de-
fined in section 40102 of title 49, United States 
Code). 
(2) Not more than $4,000,000,000 shall be avail-
able to make loans and loan guarantees for cargo air 
carriers. 
(3) Not more than $17,000,000,000 shall be 
available to make loans and loan guarantees for busi-
nesses critical to maintaining national security. 
(4) Not more than the sum of $454,000,000,000 
and any amounts available under paragraphs (1), 
(2), and (3) that are not used as provided under those 
paragraphs shall be available to make loans and loan 
guarantees to, and other investments in, programs or 
facilities established by the Board of Governors of the 
Federal Reserve System for the purpose of providing
501 
† HR 748 EAS 
liquidity to the financial system that supports lend-
ing to eligible businesses, States, or municipalities 
by— 
(A) purchasing obligations or other interests 
directly from issuers of such obligations or other 
interests; 
(B) purchasing obligations or other interests 
in secondary markets or otherwise; or 
(C) making loans, including loans or other 
advances secured by collateral. 
(c) TERMS AND CONDITIONS.— 
(1) IN GENERAL.— 
(A) FORMS; TERMS
AND
CONDITIONS.—A 
loan, loan guarantee, or other investment by the 
Secretary shall be made under this section in 
such form and on such terms and conditions and 
contain such covenants, representations, warran-
ties, and requirements (including requirements 
for audits) as the Secretary determines appro-
priate. Any loans made by the Secretary under 
this section shall be at a rate determined by the 
Secretary based on the risk and the current aver-
age yield on outstanding marketable obligations 
of the United States of comparable maturity.
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† HR 748 EAS 
(B) PROCEDURES.—As soon as practicable, 
but in no case later than 10 days after the date 
of enactment of this Act, the Secretary shall pub-
lish procedures for application and minimum re-
quirements, which may be supplemented by the 
Secretary in the Secretary’s discretion, for mak-
ing loans, loan guarantees, or other investments 
under paragraphs (1), (2) and (3) of subsection 
(b) . 
(2) LOANS AND LOAN GUARANTEES .—The Sec-
retary may enter into agreements to make loans or 
loan guarantees to 1 or more eligible businesses under 
paragraphs (1), (2) and (3) of subsection (b) if the 
Secretary determines that, in the Secretary’s discre-
tion— 
(A) the applicant is an eligible business for 
which credit is not reasonably available at the 
time of the transaction; 
(B) the intended obligation by the applicant 
is prudently incurred; 
(C) the loan or loan guarantee is suffi-
ciently secured or is made at a rate that— 
(i) reflects the risk of the loan or loan 
guarantee; and
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(ii) is to the extent practicable, not less 
than an interest rate based on market con-
ditions for comparable obligations prevalent 
prior to the outbreak of the coronavirus dis-
ease 2019 (COVID–19); 
(D) the duration of the loan or loan guar-
antee is as short as practicable and in any case 
not longer than 5 years; 
(E) the agreement provides that, until the 
date 12 months after the date the loan or loan 
guarantee is no longer outstanding, neither the 
eligible business nor any affiliate of the eligible 
business may purchase an equity security that is 
listed on a national securities exchange of the eli-
gible business or any parent company of the eli-
gible business, except to the extent required under 
a contractual obligation in effect as of the date 
of enactment of this Act; 
(F) the agreement provides that, until the 
date 12 months after the date the loan or loan 
guarantee is no longer outstanding, the eligible 
business shall not pay dividends or make other 
capital distributions with respect to the common 
stock of the eligible business;
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† HR 748 EAS 
(G) the agreement provides that, until Sep-
tember 30, 2020, the eligible business shall main-
tain its employment levels as of March 24, 2020, 
to the extent practicable, and in any case shall 
not reduce its employment levels by more than 
10 percent from the levels on such date; 
(H) the agreement includes a certification 
by the eligible business that it is created or orga-
nized in the United States or under the laws of 
the United States and has significant operations 
in and a majority of its employees based in the 
United States; and 
(I) for purposes of a loan or loan guarantee 
under paragraphs (1), (2), and (3) of subsection 
(b), the eligible business must have incurred or 
is expected to incur covered losses such that the 
continued operations of the business are jeopard-
ized, as determined by the Secretary. 
(3) FEDERAL RESERVE PROGRAMS OR FACILI-
TIES.— 
(A) TERMS AND CONDITIONS.— 
(i) DEFINITION.—In this paragraph, 
the term ‘‘direct loan’’ means a loan under 
a bilateral loan agreement that is —
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(I) entered into directly with an 
eligible business as borrower; and 
(II) not part of a syndicated loan, 
a loan originated by a financial insti-
tution in the ordinary course of busi-
ness, or a securities or capital markets 
transaction. 
(ii) 
RESTRICTIONS.—The 
Secretary 
may make a loan, loan guarantee, or other 
investment under subsection (b)(4) as part 
of a program or facility that provides direct 
loans only if the applicable eligible busi-
nesses agree— 
(I) until the date 12 months after 
the date on which the direct loan is no 
longer outstanding, not to repurchase 
an equity security that is listed on a 
national securities exchange of the eli-
gible business or any parent company 
of the eligible business while the direct 
loan is outstanding, except to the ex-
tent required under a contractual obli-
gation that is in effect as of the date 
of enactment of this Act;
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† HR 748 EAS 
(II) until the date 12 months after 
the date on which the direct loan is no 
longer outstanding, not to pay divi-
dends or make other capital distribu-
tions with respect to the common stock 
of the eligible business; and 
(III) to comply with the limita-
tions on compensation set forth in sec-
tion 4004. 
(iii) WAIVER.—The Secretary may 
waive the requirement under clause (ii) 
with respect to any program or facility 
upon a determination that such waiver is 
necessary to protect the interests of the Fed-
eral Government. If the Secretary exercises 
a waiver under this clause, the Secretary 
shall make himself available to testify before 
the Committee on Banking, Housing, and 
Urban Affairs of the Senate and the Com-
mittee on Financial Services of the House of 
Representatives regarding the reasons for 
the waiver. 
(B) FEDERAL RESERVE ACT TAXPAYER PRO-
TECTIONS AND OTHER REQUIREMENTS APPLY.— 
For the avoidance of doubt, any applicable re-
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quirements under section 13(3) of the Federal 
Reserve Act (12 U.S.C. 343(3)), including re-
quirements relating to loan collateralization, tax-
payer protection, and borrower solvency, shall 
apply with respect to any program or facility 
described in subsection (b)(4). 
(C) UNITED STATES BUSINESSES.—A pro-
gram or facility in which the Secretary makes a 
loan, loan guarantee, or other investment under 
subsection (b)(4) shall only purchase obligations 
or other interests (other than securities that are 
based on an index or that are based on a diversi-
fied pool of securities) from, or make loans or 
other advances to, businesses that are created or 
organized in the United States or under the laws 
of the United States and that have significant 
operations in and a majority of its employees 
based in the United States. 
(D) ASSISTANCE
FOR
MID-SIZED
BUSI-
NESSES.— 
(i) IN GENERAL.—Without limiting the 
terms and conditions of the programs and 
facilities that the Secretary may otherwise 
provide financial assistance to under sub-
section (b)(4), the Secretary shall endeavor
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† HR 748 EAS 
to seek the implementation of a program or 
facility described in subsection (b)(4) that 
provides financing to banks and other lend-
ers that make direct loans to eligible busi-
nesses including, to the extent practicable, 
nonprofit organizations, with between 500 
and 10,000 employees, with such direct 
loans being subject to an annualized interest 
rate that is not higher than 2 percent per 
annum. For the first 6 months after any 
such direct loan is made, or for such longer 
period as the Secretary may determine in 
his discretion, no principal or interest shall 
be due and payable. Any eligible borrower 
applying for a direct loan under this pro-
gram shall make a good-faith certification 
that— 
(I) the uncertainty of economic 
conditions as of the date of the appli-
cation makes necessary the loan request 
to support the ongoing operations of 
the recipient; 
(II) the funds it receives will be 
used to retain at least 90 percent of the 
recipient’s workforce, at full compensa-
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† HR 748 EAS 
tion and benefits, until September 30, 
2020; 
(III) the recipient intends to re-
store not less than 90 percent of the 
workforce of the recipient that existed 
as of February 1, 2020, and to restore 
all compensation and benefits to the 
workers of the recipient no later than 
4 months after the termination date of 
the public health emergency declared 
by the Secretary of Health and Human 
Services on January 31, 2020, under 
section 319 of the Public Health Serv-
ices Act (42 U.S.C. 247d) in response 
to COVID–19; 
(IV) the recipient is an entity or 
business that is domiciled in the 
United States with significant oper-
ations and employees located in the 
United States; 
(V) the recipient is not a debtor 
in a bankruptcy proceeding; 
(VI) the recipient is created or or-
ganized in the United States or under 
the laws of the United States and has
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† HR 748 EAS 
significant operations in and a major-
ity of its employees based in the 
United States; 
(VII) the recipient will not pay 
dividends with respect to the common 
stock of the eligible business, or repur-
chase an equity security that is listed 
on a national securities exchange of the 
recipient or any parent company of 
the recipient while the direct loan is 
outstanding, except to the extent re-
quired under a contractual obligation 
that is in effect as of the date of enact-
ment of this Act; 
(VIII) the recipient will not 
outsource or offshore jobs for the term 
of the loan and 2 years after com-
pleting repayment of the loan; 
(IX) the recipient will not abro-
gate 
existing 
collective 
bargaining 
agreements for the term of the loan and 
2 years after completing repayment of 
the loan; and
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(X) that the recipient will remain 
neutral in any union organizing effort 
for the term of the loan. 
(ii) MAIN
STREET
LENDING
PRO-
GRAM.—Nothing in this subparagraph shall 
limit the discretion of the Board of Gov-
ernors of the Federal Reserve System to es-
tablish a Main Street Lending Program or 
other similar program or facility that sup-
ports lending to small and mid-sized busi-
nesses on such terms and conditions as the 
Board may set consistent with section 13(3) 
of the Federal Reserve Act (12 U.S.C. 
343(3)), including any such program in 
which the Secretary makes a loan, loan 
guarantee, or other investment under sub-
section (b)(4). 
(E) GOVERNMENT PARTICIPANTS.—The Sec-
retary shall endeavor to seek the implementation 
of a program or facility in accordance with sub-
section (b)(4) that provides liquidity to the fi-
nancial system that supports lending to States 
and municipalities. 
(d) FINANCIAL PROTECTION OF GOVERNMENT.—
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(1) WARRANT OR SENIOR DEBT INSTRUMENT.— 
The Secretary may not issue a loan to, or a loan 
guarantee for, an eligible business under paragraph 
(1), (2), or (3) of subsection (b) unless— 
(A)(i) the eligible business has issued securi-
ties that are traded on a national securities ex-
change; and 
(ii) the Secretary receives a warrant or eq-
uity interest in the eligible business; or 
(B) in the case of any eligible business other 
than an eligible business described in subpara-
graph (A), the Secretary receives, in the discre-
tion of the Secretary— 
(i) a warrant or equity interest in the 
eligible business; or 
(ii) a senior debt instrument issued by 
the eligible business. 
(2) TERMS
AND
CONDITIONS.—The terms and 
conditions of any warrant, equity interest, or senior 
debt instrument received under paragraph (1) shall be 
set by the Secretary and shall meet the following re-
quirements: 
(A) PURPOSES.—Such terms and conditions 
shall be designed to provide for a reasonable par-
ticipation by the Secretary, for the benefit of tax-
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† HR 748 EAS 
payers, in equity appreciation in the case of a 
warrant or other equity interest, or a reasonable 
interest rate premium, in the case of a debt in-
strument. 
(B) AUTHORITY
TO
SELL, EXERCISE, OR 
SURRENDER.—For the primary benefit of tax-
payers, the Secretary may sell, exercise, or sur-
render a warrant or any senior debt instrument 
received under this subsection. The Secretary 
shall not exercise voting power with respect to 
any shares of common stock acquired under this 
section. 
(C) SUFFICIENCY.—If the Secretary deter-
mines that the eligible business cannot feasibly 
issue warrants or other equity interests as re-
quired by this subsection, the Secretary may ac-
cept a senior debt instrument in an amount and 
on such terms as the Secretary deems appro-
priate. 
(3) PROHIBITION ON LOAN FORGIVENESS.—The 
principal amount of any obligation issued by an eli-
gible business, State, or municipality under a pro-
gram described in subsection (b) shall not be reduced 
through loan forgiveness.
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† HR 748 EAS 
(e) DEPOSIT OF PROCEEDS.—Amounts collected under 
subsection (b) shall be deposited in the following order of 
priority: 
(1) Into the financing accounts established under 
section 505 of the Federal Credit Reform Act of 1990 
(2 U.S.C. 661d) to implement this subtitle, up to an 
amount equal to the sum of— 
(A) the amount transferred from the appro-
priation made under section 4027 to the financ-
ing accounts; and 
(B) the amount necessary to repay any 
amount lent from the Treasury to such financing 
accounts. 
(2) After the deposits specified in paragraph (1) 
of this subsection have been made, into the Federal 
Old-Age and Survivors Insurance Trust Fund estab-
lished under section 201(a) of the Social Security Act 
(42 U.S.C. 401). 
(f) ADMINISTRATIVE PROVISIONS.—Notwithstanding 
any other provision of law, the Secretary may use not great-
er than $100,000,000 of the funds made available under sec-
tion 4027 to pay costs and administrative expenses associ-
ated with the loans, loan guarantees, and other investments 
authorized under this section. The Secretary is authorized 
to take such actions as the Secretary deems necessary to
515 
† HR 748 EAS 
carry out the authorities in this subtitle, including, without 
limitation— 
(1) using direct hiring authority to hire employ-
ees to administer this subtitle; 
(2) entering into contracts, including contracts 
for services authorized by this subtitle; 
(3) establishing vehicles that are authorized, sub-
ject to supervision by the Secretary, to purchase, hold, 
and sell assets and issue obligations; and 
(4) issuing such regulations and other guidance 
as may be necessary or appropriate to carry out the 
authorities or purposes of this subtitle. 
(g) FINANCIAL AGENTS.—The Secretary is authorized 
to designate financial institutions, including but not lim-
ited to, depositories, brokers, dealers, and other institutions, 
as financial agents of the United States. Such institutions 
shall— 
(1) perform all reasonable duties the Secretary 
determines necessary to respond to the coronavirus; 
and 
(2) be paid for such duties using appropriations 
available to the Secretary to reimburse financial in-
stitutions in their capacity as financial agents of the 
United States.
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(h) LOANS MADE BY OR GUARANTEED BY THE DE-
PARTMENT OF THE TREASURY TREATED AS INDEBTEDNESS 
FOR TAX PURPOSES.— 
(1) IN GENERAL.—Any loan made by or guaran-
teed by the Department of the Treasury under this 
section shall be treated as indebtedness for purposes of 
the Internal Revenue Code of 1986, shall be treated as 
issued for its stated principal amount, and stated in-
terest on such loans shall be treated as qualified stat-
ed interest. 
(2) REGULATIONS OR GUIDANCE.—The Secretary 
of the Treasury (or the Secretary’s delegate) shall pre-
scribe such regulations or guidance as may be nec-
essary or appropriate to carry out the purposes of 
this section, including guidance providing that the 
acquisition of warrants, stock options, common or 
preferred stock or other equity under this section does 
not result in an ownership change for purposes of sec-
tion 382 of the Internal Revenue Code of 1986. 
SEC. 4004. LIMITATION ON CERTAIN EMPLOYEE COMPENSA-
TION. 
(a) IN GENERAL.—The Secretary may only enter into 
an agreement with an eligible business to make a loan or 
loan guarantee under paragraph (1), (2) or (3) of section 
4003(b) if such agreement provides that, during the period
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† HR 748 EAS 
beginning on the date on which the agreement is executed 
and ending on the date that is 1 year after the date on 
which the loan or loan guarantee is no longer out-
standing— 
(1) no officer or employee of the eligible business 
whose total compensation exceeded $425,000 in cal-
endar year 2019 (other than an employee whose com-
pensation is determined through an existing collective 
bargaining agreement entered into prior to March 1, 
2020)— 
(A) will receive from the eligible business 
total compensation which exceeds, during any 12 
consecutive months of such period, the total com-
pensation received by the officer or employee 
from the eligible business in calendar year 2019; 
or 
(B) will receive from the eligible business 
severance pay or other benefits upon termination 
of employment with the eligible business which 
exceeds twice the maximum total compensation 
received by the officer or employee from the eligi-
ble business in calendar year 2019; and 
(2) no officer or employee of the eligible business 
whose total compensation exceeded $3,000,000 in cal-
endar year 2019 may receive during any 12 consecu-
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† HR 748 EAS 
tive months of such period total compensation in ex-
cess of the sum of— 
(A) $3,000,000; and 
(B) 50 percent of the excess over $3,000,000 
of the total compensation received by the officer 
or employee from the eligible business in cal-
endar year 2019. 
(b) TOTAL COMPENSATION DEFINED.—In this section, 
the term ‘‘total compensation’’ includes salary, bonuses, 
awards of stock, and other financial benefits provided by 
an eligible business to an officer or employee of the eligible 
business. 
SEC. 4005. CONTINUATION OF CERTAIN AIR SERVICE. 
The Secretary of Transportation is authorized to re-
quire, to the extent reasonable and practicable, an air car-
rier receiving loans and loan guarantees under section 4003 
to maintain scheduled air transportation service as the Sec-
retary of Transportation deems necessary to ensure services 
to any point served by that carrier before March 1, 2020. 
When considering whether to exercise the authority granted 
by this section, the Secretary of Transportation shall take 
into consideration the air transportation needs of small and 
remote communities and the need to maintain well-func-
tioning health care and pharmaceutical supply chains, in-
cluding for medical devices and supplies. The authority
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† HR 748 EAS 
under this section, including any requirement issued by the 
Secretary under this section, shall terminate on March 1, 
2022. 
SEC. 4006. COORDINATION WITH SECRETARY OF TRANS-
PORTATION. 
In implementing this subtitle with respect to air car-
riers, the Secretary shall coordinate with the Secretary of 
Transportation. 
SEC. 4007. SUSPENSION OF CERTAIN AVIATION EXCISE 
TAXES. 
(a) TRANSPORTATION BY AIR.—In the case of any 
amount paid for transportation by air (including any 
amount treated as paid for transportation by air by reason 
of section 4261(e)(3) of the Internal Revenue Code of 1986) 
during the excise tax holiday period, no tax shall be im-
posed under section 4261 or 4271 of such Code. The pre-
ceding sentence shall not apply to amounts paid on or be-
fore the date of the enactment of this Act. 
(b) USE OF KEROSENE IN COMMERCIAL AVIATION.— 
In the case of kerosene used in commercial aviation (as de-
fined in section 4083 of the Internal Revenue Code of 1986) 
during the excise tax holiday period— 
(1) no tax shall be imposed on such kerosene 
under—
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† HR 748 EAS 
(A) section 4041(c) of the Internal Revenue 
Code of 1986, or 
(B) section 4081 of such Code (other than at 
the rate provided in subsection (a)(2)(B) there-
of), and 
(2) section 6427(l) of such Code shall be ap-
plied— 
(A) by treating such use as a nontaxable 
use, and 
(B) without regard to paragraph (4)(A)(ii) 
thereof. 
(c) EXCISE TAX HOLIDAY PERIOD.—For purposes of 
this section, the term ‘‘excise tax holiday period’’ means the 
period beginning after the date of the enactment of this sec-
tion and ending before January 1, 2021. 
SEC. 4008. DEBT GUARANTEE AUTHORITY. 
(a) Section 1105 of the Dodd-Frank Wall Street Re-
form and Consumer Protection Act (12 U.S.C. 5612) is 
amended— 
(1) in subsection (f)— 
(A) by inserting ‘‘in noninterest-bearing 
transaction accounts’’ after ‘‘institutions’’; and 
(B) by striking ‘‘shall not’’ and inserting 
‘‘may’’; and 
(2) by adding at the end the following:
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‘‘(h) APPROVAL OF GUARANTEE PROGRAM DURING 
THE COVID–19 CRISIS.— 
‘‘(1) IN GENERAL.—For purposes of the congres-
sional joint resolution of approval provided for in 
subsections (c)(1) and (2) and (d), notwithstanding 
any other provision of this section, the Federal De-
posit Insurance Corporation is approved upon enact-
ment of this Act to establish a program provided for 
in subsection (a), provided that any such program 
and any such guarantee shall terminate not later 
than December 31, 2020. 
‘‘(2) MAXIMUM
AMOUNT.—Any debt guarantee 
program authorized by this subsection shall include a 
maximum amount of outstanding debt that is guar-
anteed.’’. 
(b) FEDERAL CREDIT UNION TRANSACTION ACCOUNT 
GUARANTEES.—Notwithstanding any other provision of 
law and in coordination with the Federal Deposit Insur-
ance Corporation, the National Credit Union Administra-
tion Board may by a vote of the Board increase to unlim-
ited, or such lower amount as the Board approves, the share 
insurance coverage provided by the National Credit Union 
Share Insurance Fund on any noninterest-bearing trans-
action account in any federally insured credit union with-
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† HR 748 EAS 
out exception, provided that any such increase shall termi-
nate not later than December 31, 2020. 
SEC. 4009. TEMPORARY GOVERNMENT IN THE SUNSHINE 
ACT RELIEF. 
(a) IN GENERAL.—Except as provided in subsection 
(b), notwithstanding any other provision of law, if the 
Chairman of the Board of Governors of the Federal Reserve 
System determines, in writing, that unusual and exigent 
circumstances exist, the Board may conduct meetings with-
out regard to the requirements of section 552b of title 5, 
United States Code, during the period beginning on the date 
of enactment of this Act and ending on the earlier of— 
(1) the date on which the national emergency 
concerning the novel coronavirus disease (COVID–19) 
outbreak declared by the President on March 13, 2020 
under the National Emergencies Act (50 U.S.C. 1601 
et seq.) terminates; or 
(2) December 31, 2020. 
(b) RECORDS.—The Board of Governors of the Federal 
Reserve System shall keep a record of all Board votes and 
the reasons for such votes during the period described in 
subsection (a).
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SEC. 4010. TEMPORARY HIRING FLEXIBILITY. 
(a) DEFINITION.—In this section, the term ‘‘covered 
period’’ means the period beginning on the date of enact-
ment of this Act and ending on the sooner of— 
(1) the termination date of the national emer-
gency concerning the novel coronavirus disease 
(COVID–19) outbreak declared by the President on 
March 13, 2020 under the National Emergencies Act 
(50 U.S.C. 1601 et seq.); or 
(2) December 31, 2020. 
(b) AUTHORITY.— During the covered period, the Sec-
retary of Housing and Urban Development, the Securities 
and Exchange Commission, and the Commodity Futures 
Trading Commission may, without regard to sections 3309 
through 3318 of title 5, United States Code, recruit and 
appoint candidates to fill temporary and term appoint-
ments within their respective agencies upon a determina-
tion that those expedited procedures are necessary and ap-
propriate to enable the respective agencies to prevent, pre-
pare for, or respond to COVID–19. 
SEC. 4011. TEMPORARY LENDING LIMIT WAIVER. 
(a) IN GENERAL.—Section 5200 of the Revised Stat-
utes of the United States (12 U.S.C. 84) is amended— 
(1) in subsection (c)(7)— 
(A) by inserting ‘‘any nonbank financial 
company (as that term is defined in section 102
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† HR 748 EAS 
of the Financial Stability Act of 2010 (12 U.S.C. 
5311)),’’ after ‘‘Loans or extensions of credit to’’; 
and 
(B) by striking ‘‘financial institution or to’’ 
and inserting ‘‘financial institution, or to’’; and 
(2) in subsection (d), by adding at the end of 
paragraph (1) the following: ‘‘The Comptroller of the 
Currency may, by order, exempt any transaction or 
series of transactions from the requirements of this 
section upon a finding by the Comptroller that such 
exemption is in the public interest and consistent 
with the purposes of this section.’’. 
(b) EFFECTIVE
PERIOD.—This section, and the 
amendments made by this section, shall be effective during 
the period beginning on the date of enactment of this Act 
and ending on the sooner of— 
(1) the termination date of the national emer-
gency concerning the novel coronavirus disease 
(COVID–19) outbreak declared by the President on 
March 13, 2020 under the National Emergencies Act 
(50 U.S.C. 1601 et seq.); or 
(2) December 31, 2020. 
SEC. 4012. TEMPORARY RELIEF FOR COMMUNITY BANKS. 
(a) DEFINITIONS.—In this section—
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† HR 748 EAS 
(1) the term ‘‘appropriate Federal banking agen-
cy’’ has the meaning given the term in section 2 of 
the Economic Growth, Regulatory Relief, and Con-
sumer Protection Act (12 U.S.C. 5365 note); and 
(2) the terms ‘‘Community Bank Leverage 
Ratio’’ and ‘‘qualifying community bank’’ have the 
meanings given the terms in section 201(a) of the 
Economic Growth, Regulatory Relief, and Consumer 
Protection Act (12 U.S.C. 5371 note). 
(b) INTERIM RULE.— 
(1) IN
GENERAL.—Notwithstanding any other 
provision of law or regulation, the appropriate Fed-
eral banking agencies shall issue an interim final rule 
that provides that, for the purposes of section 201 of 
the Economic Growth, Regulatory Relief, and Con-
sumer Protection Act (12 U.S.C. 5371 note)— 
(A) the Community Bank Leverage Ratio 
shall be 8 percent; and 
(B) a qualifying community bank that falls 
below the Community Bank Leverage Ratio es-
tablished under subparagraph (A) shall have a 
reasonable grace period to satisfy the Commu-
nity Bank Leverage Ratio. 
(2) EFFECTIVE
PERIOD.—The interim rule 
issued under paragraph (1) shall be effective during
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† HR 748 EAS 
the period beginning on the date on which the appro-
priate Federal banking agencies issue the rule and 
ending on the sooner of— 
(A) the termination date of the national 
emergency concerning the novel coronavirus dis-
ease (COVID–19) outbreak declared by the Presi-
dent on March 13, 2020 under the National 
Emergencies Act (50 U.S.C. 1601 et seq.); or 
(B) December 31, 2020. 
(c) GRACE PERIOD.—During a grace period described 
in subsection (b)(1)(B), a qualifying community bank to 
which the grace period applies may continue to be treated 
as a qualifying community bank and shall be presumed to 
satisfy the capital and leverage requirements described in 
section 201(c) of the Economic Growth, Regulatory Relief, 
and Consumer Protection Act (12 U.S.C. 5371 note). 
SEC. 4013. TEMPORARY RELIEF FROM TROUBLED DEBT 
RESTRUCTURINGS. 
(a) DEFINITIONS.—In this section: 
(1) APPLICABLE PERIOD.—The term ‘‘applicable 
period’’ means the period beginning on March 1, 2020 
and ending on the earlier of December 31, 2020, or 
the date that is 60 days after the date on which the 
national emergency concerning the novel coronavirus 
disease (COVID–19) outbreak declared by the Presi-
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† HR 748 EAS 
dent on March 13, 2020 under the National Emer-
gencies Act (50 U.S.C. 1601 et seq.) terminates. 
(2) APPROPRIATE FEDERAL BANKING AGENCY.— 
The term ‘‘appropriate Federal banking agency’’— 
(A) has the meaning given the term in sec-
tion 3 of the Federal Deposit Insurance Act (12 
U.S.C. 1813); and 
(B) includes the National Credit Union Ad-
ministration. 
(b) SUSPENSION.— 
(1) IN GENERAL.—During the applicable period, 
a financial institution may elect to— 
(A) suspend the requirements under United 
States generally accepted accounting principles 
for loan modifications related to the coronavirus 
disease 2019 (COVID–19) pandemic that would 
otherwise be categorized as a troubled debt re-
structuring; and 
(B) suspend any determination of a loan 
modified as a result of the effects of the 
coronavirus disease 2019 (COVID–19) pandemic 
as being a troubled debt restructuring, including 
impairment for accounting purposes. 
(2) 
APPLICABILITY.—Any 
suspension 
under 
paragraph (1)—
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† HR 748 EAS 
(A) shall be applicable for the term of the 
loan modification, but solely with respect to any 
modification, including a forbearance arrange-
ment, an interest rate modification, a repayment 
plan, and any other similar arrangement that 
defers or delays the payment of principal or in-
terest, that occurs during the applicable period 
for a loan that was not more than 30 days past 
due as of December 31, 2019; and 
(B) shall not apply to any adverse impact 
on the credit of a borrower that is not related to 
the coronavirus disease 2019 (COVID–19) pan-
demic. 
(c) DEFERENCE.—The appropriate Federal banking 
agency of the financial institution shall defer to the deter-
mination of the financial institution to make a suspension 
under this section. 
(d) RECORDS.—For modified loans for which suspen-
sions under subsection (a) apply— 
(1) financial institutions should continue to 
maintain records of the volume of loans involved; and 
(2) the appropriate Federal banking agencies 
may collect data about such loans for supervisory 
purposes.
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SEC. 4014. OPTIONAL TEMPORARY RELIEF FROM CURRENT 
EXPECTED CREDIT LOSSES. 
(a) DEFINITIONS.—In this section: 
(1) APPROPRIATE FEDERAL BANKING AGENCY.— 
The term ‘‘appropriate Federal banking agency’’— 
(A) has the meaning given the term in sec-
tion 3 of the Federal Deposit Insurance Act (12 
U.S.C. 1813); and 
(B) includes the National Credit Union Ad-
ministration. 
(2) INSURED
DEPOSITORY
INSTITUTION.—The 
term ‘‘insured depository institution’’— 
(A) has the meaning given the term in sec-
tion 3 of the Federal Deposit Insurance Act (12 
U.S.C. 1813); and 
(B) includes a credit union. 
(b) TEMPORARY RELIEF FROM CECL STANDARDS.— 
Notwithstanding any other provision of law, no insured de-
pository institution, bank holding company, or any affiliate 
thereof shall be required to comply with the Financial Ac-
counting Standards Board Accounting Standards Update 
No. 2016–13 (‘‘Measurement of Credit Losses on Financial 
Instruments’’), including the current expected credit losses 
methodology for estimating allowances for credit losses, dur-
ing the period beginning on the date of enactment of this 
Act and ending on the earlier of—
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† HR 748 EAS 
(1) the date on which the national emergency 
concerning the novel coronavirus disease (COVID–19) 
outbreak declared by the President on March 13, 2020 
under the National Emergencies Act (50 U.S.C. 1601 
et seq.) terminates; or 
(2) December 31, 2020. 
SEC. 4015. NON-APPLICABILITY OF RESTRICTIONS ON ESF 
DURING NATIONAL EMERGENCY. 
(a) IN GENERAL.—Section 131 of the Emergency Eco-
nomic Stabilization Act of 2008 (12 U.S.C. 5236) shall not 
apply during the period beginning on the date of enactment 
of this Act and ending on December 31, 2020. Any guar-
antee established as a result of the application of subsection 
(a) shall— 
(1) be limited to a guarantee of the total value 
of a shareholder’s account in a participating fund as 
of the close of business on the day before the an-
nouncement of the guarantee; and 
(2) terminate not later than December 31, 2020. 
(b) DIRECT APPROPRIATION.—Upon the expiration of 
the period described in subsection (a), there is appropriated, 
out of amounts in the Treasury not otherwise appropriated, 
such sums as may be necessary to reimburse the fund estab-
lished under section 5302(a)(1) of title 31, United States 
Code, for any funds that are used for the Treasury Money
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† HR 748 EAS 
Market Funds Guaranty Program for the United States 
money market mutual fund industry to the extent a claim 
payment made exceeds the balance of fees collected by the 
fund. 
SEC. 4016. TEMPORARY CREDIT UNION PROVISIONS. 
(a) IN GENERAL.— 
(1) DEFINITIONS.—Section 302(1) of the Federal 
Credit Union Act (12 U.S.C. 1795a(1)) is amended, 
in the matter preceding subparagraph (A), by strik-
ing ‘‘primarily serving natural persons’’. 
(2) MEMBERSHIP.—Section 304(b)(2) of the Fed-
eral Credit Union Act (12 U.S.C. 1795c(b)(2)) is 
amended by striking ‘‘all those credit unions’’ and in-
serting ‘‘such credit unions as the Board may in its 
discretion determine’’. 
(3) EXTENSIONS OF CREDIT.—Section 306(a)(1) 
of the Federal Credit Union Act (12 U.S.C. 
1795e(a)(1)) is amended, in the second sentence, by 
striking ‘‘the intent of which is to expand credit 
union portfolios’’ and inserting ‘‘without first having 
obtained evidence from the applicant that the appli-
cant has made reasonable efforts to first use primary 
sources of liquidity of the applicant, including bal-
ance sheet and market funding sources, to address the 
liquidity needs of the applicant’’.
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† HR 748 EAS 
(4) 
POWERS
OF
THE
BOARD.—Section 
307(a)(4)(A) of the Federal Credit Union Act (12 
U.S.C. 1795f(a)(4)(A)) is amended by inserting ‘‘, 
provided that, the total face value of such obligations 
shall not exceed 16 times the subscribed capital stock 
and surplus of the Facility for the period beginning 
on the date of enactment of the Coronavirus Economic 
Stabilization Act of 2020 and ending on December 
31, 2020’’ after ‘‘Facility’’. 
(b) SUNSET.— 
(1) IN GENERAL.— 
(A) DEFINITIONS.—Section 302(1) of the 
Federal Credit Union Act (12 U.S.C. 1795a(1)) 
is amended, in the matter preceding subpara-
graph (A), by inserting ‘‘primarily serving nat-
ural persons’’ after ‘‘credit unions’’. 
(B) MEMBERSHIP.—Section 304(b)(2) of the 
Federal 
Credit 
Union 
Act 
(12 
U.S.C. 
1795c(b)(2)) is amended by striking ‘‘such credit 
unions as the Board may in its discretion deter-
mine’’ and inserting ‘‘all those credit unions’’. 
(C) 
EXTENSIONS
OF
CREDIT.—Section 
306(a)(1) of the Federal Credit Union Act (12 
U.S.C. 1795e(a)(1)) is amended, in the second 
sentence, by striking ‘‘without first having ob-
533 
† HR 748 EAS 
tained evidence from the applicant that the ap-
plicant has made reasonable efforts to first use 
primary sources of liquidity of the applicant, in-
cluding balance sheet and market funding 
sources, to address the liquidity needs of the ap-
plicant’’ and inserting ‘‘the intent of which is to 
expand credit union portfolios’’. 
(2) EFFECTIVE DATE.—The amendments made 
by paragraph (1) shall take effect on December 31, 
2020. 
SEC. 4017. INCREASING ACCESS TO MATERIALS NECESSARY 
FOR NATIONAL SECURITY AND PANDEMIC RE-
COVERY. 
Notwithstanding any other provision of law— 
(1) during the 2-year period beginning on the 
date of enactment of this Act, the requirements de-
scribed in sections 303(a)(6)(C) and 304(e) of the De-
fense 
Production 
Act 
of 
1950 
(50 
U.S.C. 
4533(a)(6)(C), 4534(e)) shall not apply; and 
(2) during the 1-year period beginning on the 
date of enactment of this Act, the requirements de-
scribed in sections 302(d)(1) and 303 (a)(6)(B) of the 
Defense 
Production 
Act 
of 
1950 
(50 
U.S.C. 
4532(d)(1), 4533(a)(6)(B)) shall not apply.
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† HR 748 EAS 
SEC. 4018. SPECIAL INSPECTOR GENERAL FOR PANDEMIC 
RECOVERY. 
(a) OFFICE OF INSPECTOR GENERAL.—There is hereby 
established within the Department of the Treasury the Of-
fice of the Special Inspector General for Pandemic Recov-
ery. 
(b) APPOINTMENT
OF INSPECTOR GENERAL; RE-
MOVAL.— 
(1) IN GENERAL.—The head of the Office of the 
Special Inspector General for Pandemic Recovery 
shall be the Special Inspector General for Pandemic 
Recovery (referred to in this section as the ‘‘Special 
Inspector General’’), who shall be appointed by the 
President, by and with the advice and consent of the 
Senate. 
(2) NOMINATION.—The nomination of the Spe-
cial Inspector General shall be made on the basis of 
integrity and demonstrated ability in accounting, au-
diting, financial analysis, law, management analysis, 
public administration, or investigations. The nomina-
tion of an individual as Special Inspector General 
shall be made as soon as practicable after any loan, 
loan guarantee, or other investment is made under 
section 4003. 
(3) REMOVAL.—The Special Inspector General 
shall be removable from office in accordance with the
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† HR 748 EAS 
guarantee, the total amount of matured loans, 
the type and amount of collateral, if any, and 
any losses or gains, if any, recorded or accrued 
for each loan, loan guarantee, or other invest-
ment. 
(2) MAINTENANCE
OF
SYSTEMS.—The Special 
Inspector General shall establish, maintain, and over-
see such systems, procedures, and controls as the Spe-
cial Inspector General considers appropriate to dis-
charge the duties of the Special Inspector General 
under paragraph (1). 
(3) ADDITIONAL
DUTIES
AND
RESPONSIBIL-
ITIES.—In addition to the duties described in para-
graphs (1) and (2), the Special Inspector General 
shall also have the duties and responsibilities of in-
spectors general under the Inspector General Act of 
1978 (5 U.S.C. App.). 
(d) POWERS AND AUTHORITIES.— 
(1) IN GENERAL.—In carrying out the duties of 
the Special Inspector General under subsection (c), 
the Special Inspector General shall have the authori-
ties provided in section 6 of the Inspector General Act 
of 1978 (5 U.S.C. App.). 
(2) TREATMENT OF OFFICE.—The Office of the 
Special Inspector General for Pandemic Recovery
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† HR 748 EAS 
shall be considered to be an office described in section 
6(f)(3) of the Inspector General Act of 1978 (5 U.S.C. 
App.) and shall be exempt from an initial determina-
tion by the Attorney General under section 6(f)(2) of 
that Act. 
(e) PERSONNEL, FACILITIES, 
AND
OTHER
RE-
SOURCES.— 
(1) APPOINTMENT OF OFFICERS AND EMPLOY-
EES.—The Special Inspector General may select, ap-
point, and employ such officers and employees as may 
be necessary for carrying out the duties of the Special 
Inspector General, subject to the provisions of title 5, 
United States Code, governing appointments in the 
competitive service, and the provisions of chapter 51 
and subchapter III of chapter 53 of that title, relating 
to classification and General Schedule pay rates. 
(2) EXPERTS AND CONSULTANTS.—The Special 
Inspector General may obtain services as authorized 
under section 3109 of title 5, United States Code, at 
daily rates not to exceed the equivalent rate prescribed 
for grade GS–15 of the General Schedule by section 
5332 of that title. 
(3) CONTRACTS.—The Special Inspector General 
may enter into contracts and other arrangements for 
audits, studies, analyses, and other services with pub-
539 
† HR 748 EAS 
lic agencies and with private persons, and make such 
payments as may be necessary to carry out the duties 
of the Inspector General. 
(4) REQUESTS FOR INFORMATION.— 
(A) IN GENERAL.—Upon request of the Spe-
cial Inspector General for information or assist-
ance from any department, agency, or other enti-
ty of the Federal Government, the head of that 
department, agency, or entity shall, to the extent 
practicable and not in contravention of any ex-
isting law, furnish that information or assist-
ance to the Special Inspector General, or an au-
thorized designee. 
(B) REFUSAL TO PROVIDE REQUESTED IN-
FORMATION.—Whenever information or assist-
ance requested by the Special Inspector General 
is, in the judgment of the Special Inspector Gen-
eral, unreasonably refused or not provided, the 
Special Inspector General shall report the cir-
cumstances to the appropriate committees of 
Congress without delay. 
(f) REPORTS.— 
(1) QUARTERLY REPORTS.— 
(A) IN GENERAL.—Not later than 60 days 
after the date on which the Special Inspector
540 
† HR 748 EAS 
General is confirmed, and once every calendar 
quarter thereafter, the Special Inspector General 
shall submit to the appropriate committees of 
Congress a report summarizing the activities of 
the Special Inspector General during the 3- 
month period ending on the date on which the 
Special Inspector General submits the report. 
(B) CONTENTS.—Each report submitted 
under subparagraph (A) shall include, for the pe-
riod covered by the report, a detailed statement 
of all loans, loan guarantees, other transactions, 
obligations, expenditures, and revenues associ-
ated with any program established by the Sec-
retary under section 4003, as well as the infor-
mation collected under subsection (c)(1). 
(2) RULE OF CONSTRUCTION.—Nothing in this 
subsection may be construed to authorize the public 
disclosure of information that is— 
(A) specifically prohibited from disclosure 
by any other provision of law; 
(B) specifically required by Executive order 
to be protected from disclosure in the interest of 
national defense or national security or in the 
conduct of foreign affairs; or
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† HR 748 EAS 
(C) a part of an ongoing criminal inves-
tigation. 
(g) FUNDING.— 
(1) IN GENERAL.—Of the amounts made avail-
able to the Secretary under section 4027, $25,000,000 
shall be made available to the Special Inspector Gen-
eral to carry out this section. 
(2) AVAILABILITY.—The amounts made available 
to the Special Inspector General under paragraph (1) 
shall remain available until expended. 
(h) TERMINATION.—The Office of the Special Inspector 
General shall terminate on the date 5 years after the enact-
ment of this Act. 
(i) COUNCIL OF THE INSPECTORS GENERAL ON INTEG-
RITY
AND EFFICIENCY.—The Special Inspector General 
shall be a member of the Council of the Inspectors General 
on Integrity and Efficiency established under section 11 of 
the Inspector General Act of 1978 (5 U.S.C. App.) until 
the date of termination of the Office of the Special Inspector 
General. 
(j) CORRECTIVE RESPONSES TO AUDIT PROBLEMS.— 
The Secretary shall— 
(1) take action to address deficiencies identified 
by a report or investigation of the Special Inspector 
General; or
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† HR 748 EAS 
(2) with respect to a deficiency identified under 
paragraph (1), certify to the Committee on Banking, 
Housing, and Urban Affairs of the Senate, the Com-
mittee on Finance of the Senate, the Committee on 
Financial Services of the House of Representatives, 
and the Committee on Ways and Means of the House 
of Representatives that no action is necessary or ap-
propriate. 
SEC. 4019. CONFLICTS OF INTEREST. 
(a) DEFINITIONS.—In this section: 
(1) CONTROLLING
INTEREST.—The term ‘‘con-
trolling interest’’ means owning, controlling, or hold-
ing not less than 20 percent, by vote or value, of the 
outstanding amount of any class of equity interest in 
an entity. 
(2) COVERED ENTITY.—The term ‘‘covered enti-
ty’’ means an entity in which a covered individual 
directly or indirectly holds a controlling interest. For 
the purpose of determining whether an entity is a 
covered entity, the securities owned, controlled, or held 
by 2 or more individuals who are related as described 
in paragraph (3)(B) shall be aggregated. 
(3) COVERED INDIVIDUAL.—The term ‘‘covered 
individual’’ means—
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† HR 748 EAS 
(A) the President, the Vice President, the 
head of an Executive department, or a Member 
of Congress; and 
(B) the spouse, child, son-in-law, or daugh-
ter-in-law, as determined under applicable com-
mon law, of an individual described in subpara-
graph (A). 
(4) EXECUTIVE DEPARTMENT.—The term ‘‘Exec-
utive department’’ has the meaning given the term in 
section 101 of title 5, United States Code. 
(5) MEMBER OF CONGRESS.—The term ‘‘member 
of Congress’’ means a member of the Senate or House 
of Representatives, a Delegate to the House of Rep-
resentatives, and the Resident Commissioner from 
Puerto Rico. 
(6) EQUITY INTEREST.—The term ‘‘equity inter-
est’’ means— 
(A) a share in an entity, without regard to 
whether the share is— 
(i) transferable; or 
(ii) classified as stock or anything 
similar; 
(B) a capital or profit interest in a limited 
liability company or partnership; or
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(C) a warrant or right, other than a right 
to convert, to purchase, sell, or subscribe to a 
share or interest described in subparagraph (A) 
or (B), respectively. 
(b) PROHIBITION.—Notwithstanding any other provi-
sion of this subtitle, no covered entity may be eligible for 
any transaction described in section 4003. 
(c) REQUIREMENT.—The principal executive officer 
and the principal financial officer, or individuals per-
forming similar functions, of an entity seeking to enter a 
transaction under section 4003 shall, before that trans-
action is approved, certify to the Secretary and the Board 
of Governors of the Federal Reserve System that the entity 
is eligible to engage in that transaction, including that the 
entity is not a covered entity. 
SEC. 4020. CONGRESSIONAL OVERSIGHT COMMISSION. 
(a) ESTABLISHMENT.—There is hereby established the 
Congressional Oversight Commission (hereafter in this sec-
tion referred to as the ‘‘Oversight Commission’’) as an es-
tablishment in the legislative branch. 
(b) DUTIES.— 
(1) IN
GENERAL.—The Oversight Commission 
shall— 
(A) conduct oversight of the implementation 
of this subtitle by the Department of the Treas-
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ury and the Board of Governors of the Federal 
Reserve System, including efforts of the Depart-
ment and the Board to provide economic sta-
bility as a result of the coronavirus disease 2019 
(COVID–19) pandemic of 2020; 
(B) submit to Congress reports under para-
graph (2); and 
(C) review the implementation of this sub-
title by the Federal Government. 
(2) REGULAR REPORTS.— 
(A) IN GENERAL.—Reports of the Oversight 
Commission shall include the following: 
(i) The use by the Secretary and the 
Board of Governors of the Federal Reserve 
System of authority under this subtitle, in-
cluding with respect to the use of con-
tracting authority and administration of 
the provisions of this subtitle. 
(ii) The impact of loans, loan guaran-
tees, and investments made under this sub-
title on the financial well-being of the peo-
ple of the United States and the United 
States economy, financial markets, and fi-
nancial institutions.
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(iii) The extent to which the informa-
tion made available on transactions under 
this subtitle has contributed to market 
transparency. 
(iv) The effectiveness of loans, loan 
guarantees, and investments made under 
this subtitle of minimizing long-term costs 
to the taxpayers and maximizing the bene-
fits for taxpayers. 
(B) TIMING.—The reports required under 
this paragraph shall be submitted not later than 
30 days after the first exercise by the Secretary 
and the Board of Governors of the Federal Re-
serve System of the authority under this subtitle 
and every 30 days thereafter. 
(c) MEMBERSHIP.— 
(1) IN
GENERAL.—The Oversight Commission 
shall consist of 5 members as follows: 
(A) 1 member appointed by the Speaker of 
the House of Representatives. 
(B) 1 member appointed by the minority 
leader of the House of Representatives. 
(C) 1 member appointed by the majority 
leader of the Senate.
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(D) 1 member appointed by the minority 
leader of the Senate. 
(E) 1 member appointed as Chairperson by 
the Speaker of the House of Representatives and 
the majority leader of the Senate, after consulta-
tion with the minority leader of the Senate and 
the minority leader of the House of Representa-
tives 
(2) PAY.—Each member of the Oversight Com-
mission shall be paid at a rate equal to the daily 
equivalent of the annual rate of basic pay for level I 
of the Executive Schedule for each day (including 
travel time) during which such member is engaged in 
the actual performance of duties vested in the Over-
sight Commission. 
(3) PROHIBITION
OF
COMPENSATION
OF
FED-
ERAL EMPLOYEES.—Members of the Oversight Com-
mission who are full-time officers or employees of the 
United States may not receive additional pay, allow-
ances, or benefits by reason of their service on the 
Oversight Commission. 
(4) TRAVEL EXPENSES.—Each member shall re-
ceive travel expenses, including per diem in lieu of 
subsistence, in accordance with applicable provisions
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under subchapter I of chapter 57 of title 5, United 
States Code. 
(5) QUORUM.—Four members of the Oversight 
Commission shall constitute a quorum but a lesser 
number may hold hearings. 
(6) VACANCIES.—A vacancy on the Oversight 
Commission shall be filled in the manner in which 
the original appointment was made. 
(7) MEETINGS.—The Oversight Commission shall 
meet at the call of the Chairperson or a majority of 
its members. 
(d) STAFF.— 
(1) IN
GENERAL.—The Oversight Commission 
may appoint and fix the pay of any personnel as the 
Oversight Commission considers appropriate. 
(2) EXPERTS AND CONSULTANTS.—The Oversight 
Commission may procure temporary and intermittent 
services under section 3109(b) of title 5, United States 
Code. 
(3) STAFF OF AGENCIES.—Upon request of the 
Oversight Commission, the head of any Federal de-
partment or agency may detail, on a reimbursable 
basis, any of the personnel of that department or 
agency to the Oversight Commission to assist it in 
carrying out its duties under the this subtitle.
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(e) POWERS.— 
(1) HEARINGS AND EVIDENCE.—The Oversight 
Commission, or any subcommittee or member thereof, 
may, for the purpose of carrying out this section hold 
hearings, sit and act at times and places, take testi-
mony, and receive evidence as the Oversight Commis-
sion considers appropriate and may administer oaths 
or affirmations to witnesses appearing before it. 
(2) CONTRACTING.—The Oversight Commission 
may, to such extent and in such amounts as are pro-
vided in appropriation Acts, enter into contracts to 
enable the Oversight Commission to discharge its du-
ties under this section. 
(3) POWERS OF MEMBERS AND AGENTS.—Any 
member or agent of the Oversight Commission may, 
if authorized by the Oversight Commission, take any 
action which the Oversight Commission is authorized 
to take by this section. 
(4) OBTAINING OFFICIAL DATA.—The Oversight 
Commission may secure directly from any depart-
ment or agency of the United States information nec-
essary to enable it to carry out this section. Upon re-
quest of the Chairperson of the Oversight Commission, 
the head of that department or agency shall furnish 
that information to the Oversight Commission.
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(5) REPORTS.—The Oversight Commission shall 
receive and consider all reports required to be sub-
mitted to the Oversight Commission under this sub-
title. 
(f) TERMINATION.—The Oversight Commission shall 
terminate on September 30, 2025. 
(g) FUNDING FOR EXPENSES.— 
(1) AUTHORIZATION
OF
APPROPRIATIONS.— 
There is authorized to be appropriated to the Over-
sight Commission such sums as may be necessary for 
any fiscal year, half of which shall be derived from 
the applicable account of the House of Representa-
tives, and half of which shall be derived from the con-
tingent fund of the Senate. 
(2) REIMBURSEMENT OF AMOUNTS.—An amount 
equal to the expenses of the Oversight Commission 
shall be promptly transferred by the Secretary and 
the Board of Governors of the Federal Reserve System, 
from time to time upon the presentment of a state-
ment of such expenses by the Chairperson of the Over-
sight Commission, from funds made available to the 
Secretary under this subtitle to the applicable fund of 
the House of Representatives and the contingent fund 
of the Senate, as appropriate, as reimbursement for
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amounts expended from such account and fund under 
paragraph (1). 
SEC. 4021. CREDIT PROTECTION DURING COVID–19. 
Section 623(a)(1) of the Fair Credit Reporting Act (15 
U.S.C. 1681s–2(a)(1)) is amended by adding at the end the 
following: 
‘‘(F) REPORTING
INFORMATION
DURING 
COVID–19 PANDEMIC.— 
‘‘(i) DEFINITIONS.—In this subsection: 
‘‘(I) ACCOMMODATION.—The term 
‘accommodation’ includes an agree-
ment to defer 1 or more payments, 
make a partial payment, forbear any 
delinquent amounts, modify a loan or 
contract, or any other assistance or re-
lief granted to a consumer who is af-
fected by the coronavirus disease 2019 
(COVID–19) pandemic during the cov-
ered period. 
‘‘(II) 
COVERED
PERIOD.—The 
term ‘covered period’ means the period 
beginning on January 31, 2020 and 
ending on the later of—
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‘‘(aa) 120 days after the date 
of enactment of this subpara-
graph; or 
‘‘(bb) 120 days after the date 
on which the national emergency 
concerning the novel coronavirus 
disease (COVID–19) outbreak de-
clared by the President on March 
13, 2020 under the National 
Emergencies Act (50 U.S.C. 1601 
et seq.) terminates. 
‘‘(ii) REPORTING.—Except as provided 
in clause (iii), if a furnisher makes an ac-
commodation with respect to 1 or more 
payments on a credit obligation or account 
of a consumer, and the consumer makes the 
payments or is not required to make 1 or 
more payments pursuant to the accommo-
dation, the furnisher shall— 
‘‘(I) report the credit obligation or 
account as current; or 
‘‘(II) if the credit obligation or ac-
count was delinquent before the accom-
modation—
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‘‘(aa) maintain the delin-
quent status during the period in 
which the accommodation is in ef-
fect; and 
‘‘(bb) if the consumer brings 
the credit obligation or account 
current during the period de-
scribed in item (aa), report the 
credit obligation or account as 
current. 
‘‘(iii) EXCEPTION.—Clause (ii) shall 
not apply with respect to a credit obligation 
or account of a consumer that has been 
charged-off.’’. 
SEC. 4022. FORECLOSURE MORATORIUM AND CONSUMER 
RIGHT TO REQUEST FORBEARANCE. 
(a) DEFINITIONS.—In this section: 
(1) COVID–19 EMERGENCY.—The term ‘‘COVID– 
19 emergency’’ means the national emergency con-
cerning the novel coronavirus disease (COVID–19) 
outbreak declared by the President on March 13, 2020 
under the National Emergencies Act (50 U.S.C. 1601 
et seq.). 
(2) FEDERALLY BACKED MORTGAGE LOAN.—The 
term ‘‘Federally backed mortgage loan’’ includes any
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loan which is secured by a first or subordinate lien 
on residential real property (including individual 
units of condominiums and cooperatives) designed 
principally for the occupancy of from 1- to 4- fami-
lies that is— 
(A) insured by the Federal Housing Admin-
istration under title II of the National Housing 
Act (12 U.S.C. 1707 et seq.); 
(B) insured under section 255 of the Na-
tional Housing Act (12 U.S.C. 1715z–20); 
(C) guaranteed under section 184 or 184A 
of the Housing and Community Development Act 
of 1992 (12 U.S.C. 1715z–13a, 1715z–13b); 
(D) guaranteed or insured by the Depart-
ment of Veterans Affairs; 
(E) guaranteed or insured by the Depart-
ment of Agriculture; 
(F) made by the Department of Agriculture; 
or 
(G) purchased or securitized by the Federal 
Home Loan Mortgage Corporation or the Federal 
National Mortgage Association. 
(b) FORBEARANCE.— 
(1) IN GENERAL.—During the covered period, a 
borrower with a Federally backed mortgage loan expe-
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riencing a financial hardship due, directly or indi-
rectly, to the COVID–19 emergency may request for-
bearance on the Federally backed mortgage loan, re-
gardless of delinquency status, by— 
(A) submitting a request to the borrower’s 
servicer; and 
(B) affirming that the borrower is experi-
encing a financial hardship during the COVID– 
19 emergency. 
(2) DURATION OF FORBEARANCE.—Upon a re-
quest by a borrower for forbearance under paragraph 
(1), such forbearance shall be granted for up to 180 
days, and shall be extended for an additional period 
of up to 180 days at the request of the borrower, pro-
vided that, at the borrower’s request, either the initial 
or extended period of forbearance may be shortened. 
(3) ACCRUAL OF INTEREST OR FEES.—During a 
period of forbearance described in this subsection, no 
fees, penalties, or interest beyond the amounts sched-
uled or calculated as if the borrower made all contrac-
tual payments on time and in full under the terms 
of the mortgage contract, shall accrue on the bor-
rower’s account. 
(c) REQUIREMENTS FOR SERVICERS.—
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(1) IN GENERAL.—Upon receiving a request for 
forbearance from a borrower under subsection (b), the 
servicer shall with no additional documentation re-
quired other than the borrower’s attestation to a fi-
nancial hardship caused by the COVID–19 emergency 
and with no fees, penalties, or interest (beyond the 
amounts scheduled or calculated as if the borrower 
made all contractual payments on time and in full 
under the terms of the mortgage contract) charged to 
the borrower in connection with the forbearance, pro-
vide the forbearance for up to 180 days, which may 
be extended for an additional period of up to 180 
days at the request of the borrower, provided that, the 
borrower’s request for an extension is made during 
the covered period, and, at the borrower’s request, ei-
ther the initial or extended period of forbearance may 
be shortened. 
(2) FORECLOSURE MORATORIUM.—Except with 
respect to a vacant or abandoned property, a servicer 
of a Federally backed mortgage loan may not initiate 
any judicial or non-judicial foreclosure process, move 
for a foreclosure judgment or order of sale, or execute 
a foreclosure-related eviction or foreclosure sale for not 
less than the 60-day period beginning on March 18, 
2020.
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† HR 748 EAS 
SEC. 4023. FORBEARANCE OF RESIDENTIAL MORTGAGE 
LOAN PAYMENTS FOR MULTIFAMILY PROP-
ERTIES WITH FEDERALLY BACKED LOANS. 
(a) IN GENERAL.—During the covered period, a multi-
family borrower with a Federally backed multifamily mort-
gage loan experiencing a financial hardship due, directly 
or indirectly, to the COVID–19 emergency may request a 
forbearance under the terms set forth in this section. 
(b) REQUEST FOR RELIEF.—A multifamily borrower 
with a Federally backed multifamily mortgage loan that 
was current on its payments as of February 1, 2020, may 
submit an oral or written request for forbearance under sub-
section (a) to the borrower’s servicer affirming that the mul-
tifamily borrower is experiencing a financial hardship dur-
ing the COVID–19 emergency. 
(c) FORBEARANCE PERIOD.— 
(1) IN GENERAL.—Upon receipt of an oral or 
written request for forbearance from a multifamily 
borrower, a servicer shall— 
(A) document the financial hardship; 
(B) provide the forbearance for up to 30 
days; and 
(C) extend the forbearance for up to 2 addi-
tional 30 day periods upon the request of the 
borrower provided that, the borrower’s request for 
an extension is made during the covered period,
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† HR 748 EAS 
and, at least 15 days prior to the end of the for-
bearance period described under subparagraph 
(B). 
(2) RIGHT
TO
DISCONTINUE.—A multifamily 
borrower shall have the option to discontinue the for-
bearance at any time. 
(d) RENTER PROTECTIONS DURING FORBEARANCE 
PERIOD.—A multifamily borrower that receives a forbear-
ance under this section may not, for the duration of the 
forbearance— 
(1) evict or initiate the eviction of a tenant from 
a dwelling unit located in or on the applicable prop-
erty solely for nonpayment of rent or other fees or 
charges; or 
(2) charge any late fees, penalties, or other 
charges to a tenant described in paragraph (1) for 
late payment of rent. 
(e) NOTICE.—A multifamily borrower that receives a 
forbearance under this section— 
(1) may not require a tenant to vacate a dwell-
ing unit located in or on the applicable property be-
fore the date that is 30 days after the date on which 
the borrower provides the tenant with a notice to va-
cate; and
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† HR 748 EAS 
(2) may not issue a notice to vacate under para-
graph (1) until after the expiration of the forbearance. 
(f) DEFINITIONS.—In this section: 
(1) APPLICABLE PROPERTY.—The term ‘‘applica-
ble property’’, with respect to a Federally backed mul-
tifamily mortgage loan, means the residential multi-
family property against which the mortgage loan is 
secured by a lien. 
(2) FEDERALLY
BACKED
MULTIFAMILY
MORT-
GAGE
LOAN.—The term ‘‘Federally backed multi-
family mortgage loan’’ includes any loan (other than 
temporary financing such as a construction loan) 
that— 
(A) is secured by a first or subordinate lien 
on residential multifamily real property de-
signed principally for the occupancy of 5 or 
more families, including any such secured loan, 
the proceeds of which are used to prepay or pay 
off an existing loan secured by the same prop-
erty; and 
(B) is made in whole or in part, or insured, 
guaranteed, supplemented, or assisted in any 
way, by any officer or agency of the Federal 
Government or under or in connection with a 
housing or urban development program adminis-
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† HR 748 EAS 
tered by the Secretary of Housing and Urban 
Development or a housing or related program 
administered by any other such officer or agency, 
or is purchased or securitized by the Federal 
Home Loan Mortgage Corporation or the Federal 
National Mortgage Association. 
(3) MULTIFAMILY BORROWER.—the term ‘‘multi-
family borrower’’ means a borrower of a residential 
mortgage loan that is secured by a lien against a 
property comprising 5 or more dwelling units. 
(4) COVID–19 EMERGENCY.—The term ‘‘COVID– 
19 emergency’’ means the national emergency con-
cerning the novel coronavirus disease (COVID–19) 
outbreak declared by the President on March 13, 2020 
under the National Emergencies Act (50 U.S.C. 1601 
et seq.). 
(5) COVERED PERIOD.—The term ‘‘covered pe-
riod’’ means the period beginning on the date of en-
actment of this Act and ending on the sooner of— 
(A) the termination date of the national 
emergency concerning the novel coronavirus dis-
ease (COVID–19) outbreak declared by the Presi-
dent on March 13, 2020 under the National 
Emergencies Act (50 U.S.C. 1601 et seq.); or 
(B) December 31, 2020.
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† HR 748 EAS 
SEC. 4024. TEMPORARY MORATORIUM ON EVICTION FIL-
INGS. 
(a) DEFINITIONS.—In this section: 
(1) COVERED
DWELLING.—The term ‘‘covered 
dwelling’’ means a dwelling that— 
(A) is occupied by a tenant— 
(i) pursuant to a residential lease; or 
(ii) without a lease or with a lease ter-
minable under State law; and 
(B) is on or in a covered property. 
(2) COVERED
PROPERTY.—The term ‘‘covered 
property’’ means any property that— 
(A) participates in— 
(i) a covered housing program (as de-
fined in section 41411(a) of the Violence 
Against Women Act of 1994 (34 U.S.C. 
12491(a))); or 
(ii) the rural housing voucher program 
under section 542 of the Housing Act of 
1949 (42 U.S.C. 1490r); or 
(B) has a— 
(i) Federally backed mortgage loan; or 
(ii) 
Federally 
backed 
multifamily 
mortgage loan. 
(3) DWELLING.—The term ‘‘dwelling’’—
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† HR 748 EAS 
(A) has the meaning given the term in sec-
tion 802 of the Fair Housing Act (42 U.S.C. 
3602); and 
(B) includes houses and dwellings described 
in section 803(b) of such Act (42 U.S.C. 
3603(b)). 
(4) FEDERALLY BACKED MORTGAGE LOAN.—The 
term ‘‘Federally backed mortgage loan’’ includes any 
loan (other than temporary financing such as a con-
struction loan) that— 
(A) is secured by a first or subordinate lien 
on residential real property (including indi-
vidual units of condominiums and cooperatives) 
designed principally for the occupancy of from 1 
to 4 families, including any such secured loan, 
the proceeds of which are used to prepay or pay 
off an existing loan secured by the same prop-
erty; and 
(B) is made in whole or in part, or insured, 
guaranteed, supplemented, or assisted in any 
way, by any officer or agency of the Federal 
Government or under or in connection with a 
housing or urban development program adminis-
tered by the Secretary of Housing and Urban 
Development or a housing or related program
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† HR 748 EAS 
administered by any other such officer or agency, 
or is purchased or securitized by the Federal 
Home Loan Mortgage Corporation or the Federal 
National Mortgage Association. 
(5) FEDERALLY
BACKED
MULTIFAMILY
MORT-
GAGE
LOAN.—The term ‘‘Federally backed multi-
family mortgage loan’’ includes any loan (other than 
temporary financing such as a construction loan) 
that— 
(A) is secured by a first or subordinate lien 
on residential multifamily real property de-
signed principally for the occupancy of 5 or 
more families, including any such secured loan, 
the proceeds of which are used to prepay or pay 
off an existing loan secured by the same prop-
erty; and 
(B) is made in whole or in part, or insured, 
guaranteed, supplemented, or assisted in any 
way, by any officer or agency of the Federal 
Government or under or in connection with a 
housing or urban development program adminis-
tered by the Secretary of Housing and Urban 
Development or a housing or related program 
administered by any other such officer or agency, 
or is purchased or securitized by the Federal
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† HR 748 EAS 
Home Loan Mortgage Corporation or the Federal 
National Mortgage Association. 
(b) MORATORIUM.—During the 120-day period begin-
ning on the date of enactment of this Act, the lessor of a 
covered dwelling may not— 
(1) make, or cause to be made, any filing with 
the court of jurisdiction to initiate a legal action to 
recover possession of the covered dwelling from the 
tenant for nonpayment of rent or other fees or 
charges; or 
(2) charge fees, penalties, or other charges to the 
tenant related to such nonpayment of rent. 
(c) NOTICE.—The lessor of a covered dwelling unit— 
(1) may not require the tenant to vacate the cov-
ered dwelling unit before the date that is 30 days 
after the date on which the lessor provides the tenant 
with a notice to vacate; and 
(2) may not issue a notice to vacate under para-
graph (1) until after the expiration of the period de-
scribed in subsection (b). 
SEC. 4025. PROTECTION OF COLLECTIVE BARGAINING 
AGREEMENT. 
(a) IN GENERAL.—Neither the Secretary, nor any 
other actor, department, or agency of the Federal Govern-
ment, shall condition the issuance of a loan or loan guar-
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† HR 748 EAS 
antee under paragraph (1), (2), or (3) of section 4003(b) 
of this subtitle on an air carrier’s or eligible business’s im-
plementation of measures to enter into negotiations with 
the certified bargaining representative of a craft or class 
of employees of the air carrier or eligible business under 
the Railway Labor Act (45 U.S.C. 151 et seq.) or the Na-
tional Labor Relations Act (29 U.S.C. 151 et seq.), regard-
ing pay or other terms and conditions of employment. 
(b) PERIOD OF EFFECT.—With respect to an air car-
rier or eligible business to which the loan or loan guarantee 
is provided under this subtitle, this section shall be in effect 
with respect to the air carrier or eligible business beginning 
on the date on which the air carrier or eligible business 
is first issued such loan or loan guarantee and ending on 
the date that is 1 year after the loan or loan guarantee 
is no longer outstanding. 
SEC. 4026. REPORTS. 
(a) DISCLOSURE OF TRANSACTIONS.—Not later than 
72 hours after any transaction by the Secretary under 
paragraph (1), (2), or (3) of section 4003(b), the Secretary 
shall publish on the website of the Department of the Treas-
ury— 
(1) a plain-language description of the trans-
action, including the date of application, date of ap-
plication approval, and identity of the counterparty;
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† HR 748 EAS 
(2) the amount of the loan or loan guarantee; 
(3) the interest rate, conditions, and any other 
material or financial terms associated with the trans-
action, if applicable; and 
(4) a copy of the relevant and final term sheet, 
if applicable, and contract or other relevant docu-
mentation regarding the transaction. 
(b) REPORTS.— 
(1) TO CONGRESS.— 
(A) IN GENERAL.—In addition to such re-
ports as are required under section 5302(c) of 
title 31, United States Code, not later than 7 
days after the Secretary makes any loan or loan 
guarantee under paragraph (1), (2), or (3) of 
section 4003(b), the Secretary shall submit to the 
Chairmen and Ranking Members of the Com-
mittee on Banking, Housing, and Urban Affairs 
and the Committee on Finance of the Senate and 
the Chairmen and Ranking Members of the Com-
mittee on Financial Services and the Committee 
on Ways and Means of the House of Representa-
tives a report summarizing— 
(i) an overview of actions taken by the 
Secretary under paragraph (1), (2) or (3) of 
section 4003(b) during such period;
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† HR 748 EAS 
(ii) the actual obligation, expenditure, 
and disbursements of the funds during such 
period; and 
(iii) a detailed financial statement 
with respect to the exercise of authority 
under paragraph (1), (2) or (3) of section 
4003(b) showing— 
(I) all loans and loan guarantees 
made, renewed, or restructured; 
(II) all transactions during such 
period, including the types of parties 
involved; 
(III) the nature of the assets pur-
chased; 
(IV) a description of the vehicles 
established to exercise such authority; 
and 
(V) any or all repayment activity, 
delinquencies or defaults on loans and 
loan guarantees issued under para-
graph (1), (2) or (3) of section 4003(b). 
(B) PUBLICATION.—Not later than 7 days 
after the date on which the Secretary submits a 
report under subparagraph (A) to the committees 
of Congress described in such subparagraph, the
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† HR 748 EAS 
Secretary shall publish such report on the 
website of the Department of the Treasury. 
(C) 30-DAY REPORTS.—Every 30 days dur-
ing such time as a loan or loan guarantee under 
paragraph (1), (2), or (3) of section 4003(b) is 
outstanding, the Secretary shall publish on the 
website of the Department of the Treasury a re-
port summarizing the information set forth in 
subparagraph (A). 
(2) BOARD OF GOVERNORS.— 
(A) IN GENERAL.—With respect to any pro-
gram or facility described in paragraph (4) of 
section 4003(b), the Board of Governors of the 
Federal Reserve System shall provide to the 
Committee on Banking, Housing, and Urban Af-
fairs of the Senate and the Committee on Finan-
cial Services of the House of Representatives such 
reports as are required to be provided under sec-
tion 13(3) of the Federal Reserve Act (12 U.S.C. 
343(3))— 
(i) not later than 7 days after the 
Board authorizes a new facility or other fi-
nancial assistance in accordance with sec-
tion 13(3)(C)(i) of the Federal Reserve Act 
(12 U.S.C. 343(3)(C)(i)); and
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† HR 748 EAS 
(ii) once every 30 days with respect to 
outstanding loans or financial assistance in 
accordance with section 13(3)(C)(ii) of the 
Federal 
Reserve 
Act 
(12 
U.S.C. 
343(3)(C)(ii)). 
(B) PUBLICATION.—Not later than 7 days 
after the Board of Governors of the Federal Re-
serve System submits a report under subpara-
graph (A) to the committees of Congress de-
scribed in subparagraph (A), the Board shall 
publish on its website such report. 
(c) TESTIMONY.—The Secretary and the Chairman of 
the Board of Governors of the Federal Reserve System shall 
testify, on a quarterly basis, before the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Represent-
atives regarding the obligations of the Department of the 
Treasury and the Federal Reserve System, and transactions 
entered into, under this Act. 
(d) PROGRAM DESCRIPTIONS.—The Secretary shall 
post on the website of the Department of the Treasury all 
criteria, guidelines, eligibility requirements, and applica-
tion materials for the making of any loan or loan guarantee 
under paragraph (1), (2), or (3) of section 4003(b).
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(e) ADMINISTRATIVE CONTRACTS.—Not later than 24 
hours after the Secretary enters into a contract in connec-
tion with the administration of any loan or loan guarantee 
authorized to be made under paragraph (1), (2), or (3) of 
section 4003(b), the Secretary shall post on the website of 
the Department of the Treasury a copy of the contract. 
(f) GOVERNMENT ACCOUNTABILITY OFFICE.— 
(1) STUDY.—The Comptroller General of the 
United States shall conduct a study on the loans, loan 
guarantees, and other investments provided under sec-
tion 4003. 
(2) REPORT.—Not later than 9 months after the 
date of enactment of this Act, and annually thereafter 
through the year succeeding the last year for which 
loans, loan guarantees, or other investments made 
under section 4003 are outstanding, the Comptroller 
General shall submit to the Committee on Financial 
Services, the Committee on Transportation and Infra-
structure, the Committee on Appropriations, and the 
Committee on the Budget of the House of Representa-
tives and the Committee on Banking, Housing, and 
Urban Affairs, the Committee on Commerce, Science, 
and Transportation, the Committee on Appropria-
tions, and the Committee on the Budget of the Senate
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a report on the loans, loan guarantees, and other in-
vestments made under section 4003. 
SEC. 4027. DIRECT APPROPRIATION. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, there is appropriated, out of amounts in the 
Treasury not otherwise appropriated, to the fund estab-
lished under section 5302(a)(1) of title 31, United States 
Code, $500,000,000,000 to carry out this subtitle. 
(b) TECHNICAL AND CONFORMING AMENDMENT.—Sec-
tion 5302(a) of title 31, United States Code, is amended— 
(1) by striking ‘‘and’’ before ‘‘section 3’’; and 
(2) by inserting ‘‘and the Coronavirus Economic 
Stabilization Act of 2020,’’ before ‘‘and for investing’’. 
(c) CLARIFICATION.— 
(1) IN GENERAL.—On or after January 1, 2021, 
any remaining funds made available under section 
4003(b) may be used only for— 
(A) modifications, restructurings, or other 
amendments of loans, loan guarantees, or other 
investments 
in 
accordance 
with 
section 
4029(b)(1); and 
(B) exercising any options, warrants, or 
other investments made prior to January 1, 
2021; and
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(C) paying costs and administrative ex-
penses as provided in section 4003(f). 
(2) DEFICIT REDUCTION.—On January 1, 2026, 
any funds described in paragraph (1) that are re-
maining shall be transferred to the general fund of the 
Treasury to be used for deficit reduction. 
SEC. 4028. RULE OF CONSTRUCTION. 
Nothing in this subtitle shall be construed to allow the 
Secretary to provide relief to eligible businesses, States, and 
municipalities except in the form of loans, loan guarantees, 
and other investments as provided in this subtitle and 
under terms and conditions that are in the interest of the 
Federal Government. 
SEC. 4029. TERMINATION OF AUTHORITY. 
(a) IN GENERAL.—Except as provided in subsection 
(b), on December 31, 2020, the authority provided under 
this subtitle to make new loans, loan guarantees, or other 
investments shall terminate. 
(b) OUTSTANDING.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), any loan, loan guarantee, or other invest-
ment outstanding on the date described in subsection 
(a)— 
(A) may be modified, restructured, or other-
wise amended; and
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(B) may not be forgiven. 
(2) DURATION.—The duration of any loan or 
loan guarantee made under section 4003(b)(1) that is 
modified, restructured, or otherwise amended under 
paragraph (1) shall not be extended beyond 5 years 
from the initial origination date of the loan or loan 
guarantee. 
Subtitle B—Air Carrier Worker 
Support 
SEC. 4111. DEFINITIONS. 
Unless otherwise specified, the terms in section 
40102(a) of title 49, United States Code, shall apply to this 
subtitle, except that— 
(1) the term ‘‘airline catering employee’’ means 
an employee who performs airline catering services; 
(2) the term ‘‘airline catering services’’ means 
preparation, assembly, or both, of food, beverages, pro-
visions and related supplies for delivery, and the de-
livery of such items, directly to aircraft or to a loca-
tion on or near airport property for subsequent deliv-
ery to aircraft; 
(3) the term ‘‘contractor’’ means— 
(A) a person that performs, under contract 
with a passenger air carrier conducting oper-
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ations under part 121 of title 14, Code of Fed-
eral Regulations— 
(i) catering functions; or 
(ii) functions on the property of an 
airport that are directly related to the air 
transportation of persons, property, or 
mail, including but not limited to the load-
ing and unloading of property on aircraft; 
assistance to passengers under part 382 of 
title 14, Code of Federal Regulations; secu-
rity; airport ticketing and check-in func-
tions; ground-handling of aircraft; or air-
craft cleaning and sanitization functions 
and waste removal; or 
(B) a subcontractor that performs such 
functions; 
(4) the term ‘‘employee’’ means an individual, 
other than a corporate officer, who is employed by an 
air carrier or a contractor; and 
(5) the term ‘‘Secretary’’ means the Secretary of 
the Treasury. 
SEC. 4112. PANDEMIC RELIEF FOR AVIATION WORKERS. 
(a) FINANCIAL ASSISTANCE FOR EMPLOYEE WAGES, 
SALARIES, AND BENEFITS.—Notwithstanding any other 
provision of law, to preserve aviation jobs and compensate
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air carrier industry workers, the Secretary shall provide fi-
nancial assistance that shall exclusively be used for the con-
tinuation of payment of employee wages, salaries, and bene-
fits to— 
(1) passenger air carriers, in an aggregate 
amount up to $25,000,000,000; 
(2) cargo air carriers, in the aggregate amount 
up to $4,000,000,000; and 
(3) contractors, in an aggregate amount up to 
$3,000,000,000. 
(b) ADMINISTRATIVE
EXPENSES.—Notwithstanding 
any other provision of law, the Secretary, may use 
$100,000,000 of the funds made available under section 
4120(a) for costs and administrative expenses associated 
with providing financial assistance under this subtitle. 
SEC. 4113. PROCEDURES FOR PROVIDING PAYROLL SUP-
PORT. 
(a) AWARDABLE AMOUNTS.—The Secretary shall pro-
vide financial assistance under this subtitle— 
(1) to an air carrier in an amount equal to the 
salaries and benefits reported by the air carrier to the 
Department of Transportation pursuant to part 241 
of title 14, Code of Federal Regulations, for the period 
from April 1, 2019, through September 30, 2019; and
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(2) to an air carrier that does not transmit re-
ports under such part 241, in an amount that such 
air carrier certifies, using sworn financial statements 
or other appropriate data, as the amount of wages, 
salaries, benefits, and other compensation that such 
air carrier paid the employees of such air carrier 
during the period from April 1, 2019, through Sep-
tember 30, 2019; and 
(3) to a contractor, in an amount that the con-
tractor certifies, using sworn financial statements or 
other appropriate data, as the amount of wages, sala-
ries, benefits, and other compensation that such con-
tractor paid the employees of such contractor during 
the period from April 1, 2019, through September 30, 
2019. 
(b) DEADLINES AND PROCEDURES.— 
(1) IN GENERAL.— 
(A) FORMS; TERMS AND CONDITIONS.—Fi-
nancial assistance provided to an air carrier or 
contractor under this subtitle shall be in such 
form, on such terms and conditions (including 
requirements for audits and the clawback of any 
financial assistance provided upon failure by a 
passenger air carrier, cargo air carrier, or con-
tractor to honor the assurances specified in sec-
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tion 4114), as the Secretary determines appro-
priate. 
(B) PROCEDURES.—The Secretary shall 
publish streamlined and expedited procedures 
not later than 5 days after the date of enactment 
of this Act for air carriers and contractors to 
submit requests for financial assistance under 
this subtitle. 
(2) DEADLINE FOR IMMEDIATE PAYROLL ASSIST-
ANCE.—Not later than 10 days after the date of enact-
ment of this Act, the Secretary shall make initial 
payments to air carriers and contractors that submit 
requests for financial assistance approved by to the 
Secretary. 
(3) SUBSEQUENT
PAYMENTS.—The Secretary 
shall determine an appropriate method for timely dis-
tribution of payments to air carriers and contractors 
with approved requests for financial assistance from 
any funds remaining available after providing initial 
financial assistance payments under paragraph (2). 
(c) PRO RATA AUTHORITY.—The Secretary shall have 
the authority to reduce, on a pro rata basis, the amounts 
due to air carriers and contractors under the applicable 
paragraph of section 4112 in order to address any shortfall
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in assistance that would otherwise be provided under such 
section. 
(d) AUDITS.—The Inspector General of the Depart-
ment of the Treasury shall audit certifications made under 
subsection (a). 
SEC. 4114. REQUIRED ASSURANCES. 
(a) IN GENERAL.—To be eligible for financial assist-
ance under this subtitle, an air carrier or contractor shall 
enter into an agreement with the Secretary, or otherwise 
certify in such form and manner as the Secretary shall pre-
scribe, that the air carrier or contractor shall— 
(1) refrain from conducting involuntary fur-
loughs or reducing pay rates and benefits until Sep-
tember 30, 2020; 
(2) through September 30, 2021, ensure that nei-
ther the air carrier or contractor nor any affiliate of 
the air carrier or contractor may, in any transaction, 
purchase an equity security of the air carrier or con-
tractor or the parent company of the air carrier or 
contractor that is listed on a national securities ex-
change; 
(3) through September 30, 2021, ensure that the 
air carrier or contractor shall not pay dividends, or 
make other capital distributions, with respect to the
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common stock (or equivalent interest) of the air car-
rier or contractor; and 
(4) meet the requirements of sections 4115 and 
4116. 
(b) DEPARTMENT OF TRANSPORTATION AUTHORITY TO 
CONDITION ASSISTANCE ON CONTINUATION OF SERVICE.— 
(1) IN GENERAL.—The Secretary of Transpor-
tation is authorized to require, to the extent reason-
able and practicable, an air carrier provided finan-
cial assistance under this subtitle to maintain sched-
uled air transportation service, as the Secretary of 
Transportation deems necessary, to ensure services to 
any point served by that carrier before March 1, 
2020. 
(2) REQUIRED CONSIDERATIONS.—When consid-
ering whether to exercise the authority provided by 
this section, the Secretary of Transportation shall 
take into consideration the air transportation needs of 
small and remote communities and the need to main-
tain well-functioning health care supply chains, in-
cluding medical devices and supplies, and pharma-
ceutical supply chains. 
(3) SUNSET.—The authority provided under this 
subsection shall terminate on March 1, 2022, and any 
requirements issued by the Secretary of Transpor-
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tation under this subsection shall cease to apply after 
that date. 
SEC. 4115. PROTECTION OF COLLECTIVE BARGAINING 
AGREEMENT. 
(a) IN GENERAL.—Neither the Secretary, nor any 
other actor, department, or agency of the Federal Govern-
ment, shall condition the issuance of financial assistance 
under this subtitle on an air carrier’s or contractor’s imple-
mentation of measures to enter into negotiations with the 
certified bargaining representative of a craft or class of em-
ployees of the air carrier or contractor under the Railway 
Labor Act (45 U.S.C. 151 et seq.) or the National Labor 
Relations Act (29 U.S.C. 151 et seq.), regarding pay or 
other terms and conditions of employment. 
(b) PERIOD OF EFFECT.—With respect to an air car-
rier or contractor to which financial assistance is provided 
under this subtitle, this section shall be in effect with respect 
to the air carrier or contractor beginning on the date on 
which the air carrier or contractor is first issued such fi-
nancial assistance and ending on September 30, 2020. 
SEC. 4116. LIMITATION ON CERTAIN EMPLOYEE COMPENSA-
TION. 
(a) IN GENERAL.—The Secretary may only provide fi-
nancial assistance under this subtitle to an air carrier or 
contractor after such carrier or contractor enters into an
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agreement with the Secretary which provides that, during 
the 2-year period beginning March 24, 2020, and ending 
March 24, 2022, no officer or employee of the air carrier 
or contractor whose total compensation exceeded $425,000 
in calendar year 2019 (other than an employee whose com-
pensation is determined through an existing collective bar-
gaining agreement entered into prior to enactment of this 
Act)— 
(1) will receive from the air carrier or contractor 
total compensation which exceeds, during any 12 con-
secutive months of such 2-year period, the total com-
pensation received by the officer or employee from the 
air carrier or contractor in calendar year 2019; 
(2) will receive from the air carrier or contractor 
severance pay or other benefits upon termination of 
employment with the air carrier or contractor which 
exceeds twice the maximum total compensation re-
ceived by the officer or employee from the air carrier 
or contractor in calendar year 2019; and 
(3) no officer or employee of the eligible business 
whose total compensation exceeded $3,000,000 in cal-
endar year 2019 may receive during any 12 consecu-
tive months of such period total compensation in ex-
cess of the sum of— 
(A) $3,000,000; and
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(B) 50 percent of the excess over $3,000,000 
of the total compensation received by the officer 
or employee from the eligible business in cal-
endar year 2019. 
(b) TOTAL COMPENSATION DEFINED.—In this section, 
the term ‘‘total compensation’’ includes salary, bonuses, 
awards of stock, and other financial benefits provided by 
an air carrier or contractor to an officer or employee of 
the air carrier or contractor. 
SEC. 4117. TAX PAYER PROTECTION. 
The Secretary may receive warrants, options, preferred 
stock, debt securities, notes, or other financial instruments 
issued by recipients of financial assistance under this sub-
title which, in the sole determination of the Secretary, pro-
vide appropriate compensation to the Federal Government 
for the provision of the financial assistance. 
SEC. 4118. REPORTS. 
(a) REPORT.—Not later than November 1, 2020, the 
Secretary shall submit to the Committee on Transportation 
and Infrastructure and the Committee on Financial Serv-
ices of the House of Representatives and the Committee on 
Commerce, Science, and Transportation and the Committee 
on Banking, Housing, and Urban Affairs of the Senate a 
report on the financial assistance provided to air carriers
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and contractors under this subtitle, including a description 
of any financial assistance provided. 
(b) UPDATE.—Not later than the last day of the 1-year 
period following the date of enactment of this Act, the Sec-
retary shall update and submit to the Committee on Trans-
portation and the Committee on Financial Services and In-
frastructure of the House of Representatives and the Com-
mittee on Commerce, Science, and Transportation and the 
Committee on Banking, Housing, and Urban Affairs of the 
Senate the report described in subsection (a). 
SEC. 4119. COORDINATION. 
In implementing this subtitle the Secretary shall co-
ordinate with the Secretary of Transportation. 
SEC. 4120. DIRECT APPROPRIATION. 
Notwithstanding any other provision of law, there is 
appropriated, out of amounts in the Treasury not otherwise 
appropriated, $32,000,000,000 to carry out this subtitle. 
TITLE V—CORONAVIRUS RELIEF 
FUNDS 
SEC. 5001. CORONAVIRUS RELIEF FUND. 
(a) IN GENERAL.—The Social Security Act (42 U.S.C. 
301 et seq.) is amended by inserting after title V the fol-
lowing:
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‘‘TITLE VI—CORONAVIRUS 
RELIEF FUND 
‘‘SEC. 601. CORONAVIRUS RELIEF FUND. 
‘‘(a) APPROPRIATION.— 
‘‘(1) IN GENERAL.—Out of any money in the 
Treasury of the United States not otherwise appro-
priated, there are appropriated for making payments 
to States, Tribal governments, and units of local gov-
ernment under this section, $150,000,000,000 for fis-
cal year 2020. 
‘‘(2) RESERVATION OF FUNDS.—Of the amount 
appropriated under paragraph (1), the Secretary 
shall reserve— 
‘‘(A) $3,000,000,000 of such amount for 
making payments to the District of Columbia, 
the Commonwealth of Puerto Rico, the United 
States Virgin Islands, Guam, the Commonwealth 
of the Northern Mariana Islands, and American 
Samoa; and 
‘‘(B) $8,000,000,000 of such amount for 
making payments to Tribal governments. 
‘‘(b) AUTHORITY TO MAKE PAYMENTS.— 
‘‘(1) IN
GENERAL.—Subject to paragraph (2), 
not later than 30 days after the date of enactment of 
this section, the Secretary shall pay each State and
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Tribal government, and each unit of local government 
that meets the condition described in paragraph (2), 
the amount determined for the State, Tribal govern-
ment, or unit of local government, for fiscal year 2020 
under subsection (c). 
‘‘(2) DIRECT
PAYMENTS
TO
UNITS
OF
LOCAL 
GOVERNMENT.—If a unit of local government of a 
State submits the certification required by subsection 
(e) for purposes of receiving a direct payment from 
the Secretary under the authority of this paragraph, 
the Secretary shall reduce the amount determined for 
that State by the relative unit of local government 
population proportion amount described in subsection 
(c)(5) and pay such amount directly to such unit of 
local government. 
‘‘(c) PAYMENT AMOUNTS.— 
‘‘(1) IN GENERAL.—Subject to paragraph (2), the 
amount paid under this section for fiscal year 2020 
to a State that is 1 of the 50 States shall be the 
amount equal to the relative population proportion 
amount determined for the State under paragraph (3) 
for such fiscal year. 
‘‘(2) MINIMUM PAYMENT.— 
‘‘(A) IN GENERAL.—No State that is 1 of 
the 50 States shall receive a payment under this
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section for fiscal year 2020 that is less than 
$1,250,000,000. 
‘‘(B) PRO RATA ADJUSTMENTS.—The Sec-
retary shall adjust on a pro rata basis the 
amount of the payments for each of the 50 States 
determined under this subsection without regard 
to this subparagraph to the extent necessary to 
comply with the requirements of subparagraph 
(A). 
‘‘(3) 
RELATIVE
POPULATION
PROPORTION 
AMOUNT.—For purposes of paragraph (1), the relative 
population proportion amount determined under this 
paragraph for a State for fiscal year 2020 is the 
product of— 
‘‘(A) the amount appropriated under para-
graph (1) of subsection (a) for fiscal year 2020 
that remains after the application of paragraph 
(2) of that subsection; and 
‘‘(B) the relative State population propor-
tion (as defined in paragraph (4)). 
‘‘(4) RELATIVE STATE POPULATION PROPORTION 
DEFINED.—For purposes of paragraph (3)(B), the 
term ‘relative State population proportion’ means, 
with respect to a State, the quotient of— 
‘‘(A) the population of the State; and
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‘‘(B) the total population of all States (ex-
cluding the District of Columbia and territories 
specified in subsection (a)(2)(A)). 
‘‘(5) RELATIVE
UNIT
OF
LOCAL
GOVERNMENT 
POPULATION PROPORTION AMOUNT.—For purposes of 
subsection (b)(2), the term ‘relative unit of local gov-
ernment population proportion amount’ means, with 
respect to a unit of local government and a State, the 
amount equal to the product of— 
‘‘(A) 45 percent of the amount of the pay-
ment determined for the State under this sub-
section (without regard to this paragraph); and 
‘‘(B) the amount equal to the quotient of— 
‘‘(i) the population of the unit of local 
government; and 
‘‘(ii) the total population of the State 
in which the unit of local government is lo-
cated. 
‘‘(6) DISTRICT
OF
COLUMBIA
AND
TERRI-
TORIES.—The amount paid under this section for fis-
cal year 2020 to a State that is the District of Colum-
bia or a territory specified in subsection (a)(2)(A) 
shall be the amount equal to the product of— 
‘‘(A) the amount set aside under subsection 
(a)(2)(A) for such fiscal year; and
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‘‘(B) each such District’s and territory’s 
share of the combined total population of the 
District of Columbia and all such territories, as 
determined by the Secretary. 
‘‘(7) TRIBAL GOVERNMENTS.—From the amount 
set aside under subsection (a)(2)(B) for fiscal year 
2020, the amount paid under this section for fiscal 
year 2020 to a Tribal government shall be the amount 
the Secretary shall determine, in consultation with 
the Secretary of the Interior and Indian Tribes, that 
is based on increased expenditures of each such Tribal 
government (or a tribally-owned entity of such Tribal 
government) relative to aggregate expenditures in fis-
cal year 2019 by the Tribal government (or tribally- 
owned entity) and determined in such manner as the 
Secretary determines appropriate to ensure that all 
amounts available under subsection (a)(2)(B) for fis-
cal year 2020 are distributed to Tribal governments. 
‘‘(8) DATA.—For purposes of this subsection, the 
population of States and units of local governments 
shall be determined based on the most recent year for 
which data are available from the Bureau of the Cen-
sus. 
‘‘(d) USE OF FUNDS.—A State, Tribal government, 
and unit of local government shall use the funds provided
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under a payment made under this section to cover only 
those costs of the State, Tribal government, or unit of local 
government that— 
‘‘(1) are necessary expenditures incurred due to 
the public health emergency with respect to the 
Coronavirus Disease 2019 (COVID–19); 
‘‘(2) were not accounted for in the budget most 
recently approved as of the date of enactment of this 
section for the State or government; and 
‘‘(3) were incurred during the period that begins 
on March 1, 2020, and ends on December 30, 2020. 
‘‘(e) CERTIFICATION.—In order to receive a payment 
under this section, a unit of local government shall provide 
the Secretary with a certification signed by the Chief Exec-
utive for the unit of local government that the local govern-
ment’s proposed uses of the funds are consistent with sub-
section (d). 
‘‘(f) 
INSPECTOR
GENERAL
OVERSIGHT; 
RECOUPMENT.— 
‘‘(1) OVERSIGHT
AUTHORITY.—The Inspector 
General of the Department of the Treasury shall con-
duct monitoring and oversight of the receipt, disburse-
ment, and use of funds made available under this sec-
tion.
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‘‘(2) RECOUPMENT.—If the Inspector General of 
the Department of the Treasury determines that a 
State, Tribal government, or unit of local government 
has failed to comply with subsection (d), the amount 
equal to the amount of funds used in violation of such 
subsection shall be booked as a debt of such entity 
owed to the Federal Government. Amounts recovered 
under this subsection shall be deposited into the gen-
eral fund of the Treasury. 
‘‘(3) APPROPRIATION.—Out of any money in the 
Treasury of the United States not otherwise appro-
priated, there are appropriated to the Office of the In-
spector General of the Department of the Treasury, 
$35,000,000 to carry out oversight and recoupment 
activities under this subsection. Amounts appro-
priated under the preceding sentence shall remain 
available until expended. 
‘‘(4) AUTHORITY
OF
INSPECTOR
GENERAL.— 
Nothing in this subsection shall be construed to di-
minish the authority of any Inspector General, in-
cluding such authority as provided in the Inspector 
General Act of 1978 (5 U.S.C. App.). 
‘‘(g) DEFINITIONS.—In this section: 
‘‘(1) INDIAN TRIBE.—The term ‘Indian Tribe’ 
has the meaning given that term in section 4(e) of the
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Indian Self-Determination and Education Assistance 
Act (25 U.S.C. 5304(e)). 
‘‘(2) LOCAL GOVERNMENT.—The term ‘unit of 
local government’ means a county, municipality, 
town, township, village, parish, borough, or other unit 
of general government below the State level with a 
population that exceeds 500,000. 
‘‘(3) SECRETARY.—The term ‘Secretary’ means 
the Secretary of the Treasury. 
‘‘(4) STATE.—The term ‘State’ means the 50 
States, the District of Columbia, the Commonwealth 
of Puerto Rico, the United States Virgin Islands, 
Guam, the Commonwealth of the Northern Mariana 
Islands, and American Samoa. 
‘‘(5) TRIBAL
GOVERNMENT.—The term ‘Tribal 
government’ means the recognized governing body of 
an Indian Tribe.’’. 
(b) APPLICATION OF PROVISIONS.—Amounts appro-
priated for fiscal year 2020 under section 601(a)(1) of the 
Social Security Act (as added by subsection (a)) shall be 
subject to the requirements contained in Public Law 116– 
94 for funds for programs authorized under sections 330 
through 340 of the Public Health Service Act (42 U.S.C. 
254 through 256).
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TITLE VI—MISCELLANEOUS 
PROVISIONS 
SEC. 6001. COVID–19 BORROWING AUTHORITY FOR THE 
UNITED STATES POSTAL SERVICE. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘COVID–19 emergency’’ means the 
emergency involving Federal primary responsibility 
determined to exist by the President under section 
501(b) of the Robert T. Stafford Disaster Relief and 
Emergency Assistance Act (42 U.S.C. 5191(b)) with 
respect to the Coronavirus Disease 2019 (COVID–19); 
and 
(2) the term ‘‘Postal Service’’ means the United 
States Postal Service. 
(b) ADDITIONAL BORROWING AUTHORITY.—Notwith-
standing section 2005 of title 39, United States Code, or 
any other provision of law, if the Postal Service determines 
that, due to the COVID–19 emergency, the Postal Service 
will not be able to fund operating expenses without bor-
rowing money— 
(1) the Postal Service may borrow money from 
the 
Treasury 
in 
an 
amount 
not 
to 
exceed 
$10,000,000,000— 
(A) to be used for such operating expenses; 
and
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† HR 748 EAS 
(B) which may not be used to pay any out-
standing debt of the Postal Service; and 
(2) the Secretary of the Treasury may lend up 
to the amount described in paragraph (1) at the re-
quest of the Postal Service, upon terms and conditions 
mutually agreed upon by the Secretary and the Postal 
Service. 
(c) PRIORITIZATION OF DELIVERY FOR MEDICAL PUR-
POSES DURING COVID–19 EMERGENCY.—Notwithstanding 
any other provision of law, during the COVID–19 emer-
gency, the Postal Service— 
(1) shall prioritize delivery of postal products for 
medical purposes; and 
(2) may establish temporary delivery points, in 
such form and manner as the Postal Service deter-
mines necessary, to protect employees of the Postal 
Service and individuals receiving deliveries from the 
Postal Service. 
SEC. 6002. EMERGENCY DESIGNATION. 
(a) IN GENERAL.—The amounts provided under this 
division are designated as an emergency requirement pur-
suant to section 4(g) of the Statutory Pay-As-You-Go Act 
of 2010 (2 U.S.C. 933(g)). 
(b) DESIGNATION IN SENATE.—In the Senate, this di-
vision is designated as an emergency requirement pursuant
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to section 4112(a) of H. Con. Res. 71 (115th Congress), the 
concurrent resolution on the budget for fiscal year 2018. 
DIVISION 
B—EMERGENCY 
AP-
PROPRIATIONS 
FOR 
CORONAVIRUS 
HEALTH 
RE-
SPONSE AND AGENCY OPER-
ATIONS 
The following sums are hereby are appropriated, out 
of any money in the Treasury not otherwise appropriated, 
for the fiscal year ending September 30, 2020, and for other 
purposes, namely: 
TITLE I 
AGRICULTURAL PROGRAMS 
OFFICE OF THE SECRETARY 
For an additional amount for the ‘‘Office of the Sec-
retary’’, $9,500,000,000, to remain available until ex-
pended, to prevent, prepare for, and respond to coronavirus 
by providing support for agricultural producers impacted 
by coronavirus, including producers of specialty crops, pro-
ducers that supply local food systems, including farmers 
markets, restaurants, and schools, and livestock producers, 
including dairy producers: Provided, That such amount is 
designated by the Congress as being for an emergency re-
quirement pursuant to section 251(b)(2)(A)(i) of the Bal-
anced Budget and Emergency Deficit Control Act of 1985.
595 
† HR 748 EAS 
OFFICE OF INSPECTOR GENERAL 
For an additional amount for ‘‘Office of Inspector 
General’’, $750,000, to remain available until September 
30, 2021, to prevent, prepare for, and respond to 
coronavirus, domestically or internationally: Provided, 
That the funding made available under this heading in this 
Act shall be used for conducting audits and investigations 
of projects and activities carried out with funds made avail-
able in this Act to the Department of Agriculture to prevent, 
prepare for, and respond to coronavirus, domestically or 
internationally: Provided further, That such amount is des-
ignated by the Congress as being for an emergency require-
ment pursuant to section 251(b)(2)(A)(i) of the Balanced 
Budget and Emergency Deficit Control Act of 1985. 
ANIMAL AND PLANT HEALTH INSPECTION SERVICE 
SALARIES AND EXPENSES 
For an additional amount for ‘‘Salaries and Ex-
penses’’, $55,000,000, to remain available until September 
30, 2021, to prevent, prepare for, and respond to 
coronavirus, domestically or internationally, including for 
necessary expenses for salary costs associated with the Agri-
culture Quarantine and Inspection Program: Provided, 
That such amount is designated by the Congress as being 
for an emergency requirement pursuant to section