CHAPTER 116 - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT)

Title 15 > CHAPTER 116

Sections (83)

§ 9001 Definitions

In this title— 1 the terms “Administration” and “Administrator” mean the Small Business Administration and the Administrator thereof, respectively; and the term “small business concern” has the meaning given the term in section 632 of this title . ( Pub. L. 116–136, div. A, title I, § 1101 , Mar. 27, 2020 , 134 Stat. 286 .)

§ 9002 Entrepreneurial development

(a) Definitions In this section— the term “covered small business concern” means a small business concern that has experienced, as a result of COVID–19— supply chain disruptions, including changes in— quantity and lead time, including the number of shipments of components and delays in shipments; quality, including shortages in supply for quality control reasons; and technology, including a compromised payment network; staffing challenges; a decrease in gross receipts or customers; or a closure; the term “resource partner” means— a small business development center; and a women’s business center; the term “small business development center” has the meaning given the term in section 632 of this title ; and the term “women’s business center” means a women’s business center described in section 656 of this title .

(b) Education, training, and advising grants The Administration may provide financial assistance in the form of grants to resource partners to provide education, training, and advising to covered small business concerns. Grants under this subsection shall be used for the education, training, and advising of covered small business concerns and their employees on— accessing and applying for resources provided by the Administration and other Federal resources relating to access to capital and business resiliency; the hazards and prevention of the transmission and communication of COVID–19 and other communicable diseases; the potential effects of COVID–19 on the supply chains, distribution, and sale of products of covered small business concerns and the mitigation of those effects; the management and practice of telework to reduce possible transmission of COVID–19; the management and practice of remote customer service by electronic or other means; the risks of and mitigation of cyber threats in remote customer service or telework practices; the mitigation of the effects of reduced travel or outside activities on covered small business concerns during COVID–19 or similar occurrences; and any other relevant business practices necessary to mitigate the economic effects of COVID–19 or similar occurrences. The Administration shall award 80 percent of funds authorized to carry out this subsection to small business development centers, which shall be awarded pursuant to a formula jointly developed, negotiated, and agreed upon, with full participation of both parties, between the association formed under section 648(a)(3)(A) of this title and the Administration. Awards made under clause (i) shall be in addition to, and separate from, any amounts appropriated to make grants under section 648(a) of this title and such an award may be used to complement and support such a grant, except that priority with respect to the receipt of that assistance shall be given to small business development centers that have been affected by issues described in paragraph (2). The Administration shall award 20 percent of funds authorized to carry out this subsection to women’s business centers, which shall be awarded pursuant to a process established by the Administration in consultation with recipients of assistance. Matching funds shall not be required for any grant under this subsection. Goals and metrics for the funds made available under this subsection shall be jointly developed, negotiated, and agreed upon, with full participation of both parties, between the resource partners and the Administrator, which shall— take into consideration the extent of the circumstances relating to the spread of COVID–19, or similar occurrences, that affect covered small business concerns located in the areas covered by the resource partner, particularly in rural areas or economically distressed areas; generally follow the use of funds outlined in paragraph (2), but shall not restrict the activities of resource partners in responding to unique situations; and encourage resource partners to develop and provide services to covered small business concerns. The Administrator shall make publicly available the methodology by which the Administrator and resource partners jointly develop the metrics and goals described in subparagraph (A).

(c) Resource partner association grants The Administrator may provide grants to an association or associations representing resource partners under which the association or associations shall establish a single centralized hub for COVID–19 information, which shall include— 1 online platform that consolidates resources and information available across multiple Federal agencies for small business concerns related to COVID–19; and a training program to educate resource partner counselors, members of the Service Corps of Retired Executives established under section 637(b)(1)(B) of this title , and counselors at veterans business outreach centers described in section 657b of this title on the resources and information described in subparagraph (A). Goals and metrics for the funds made available under this subsection shall be jointly developed, negotiated, and agreed upon, with full participation of both parties, between the association or associations receiving a grant under this subsection and the Administrator.

(d) Report Not later than 6 months after March 27, 2020 , and annually thereafter, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that describes— with respect to the initial year covered by the report— the programs and services developed and provided by the Administration and resource partners under subsection (b); the initial efforts to provide those services under subsection (b); and the online platform and training developed and provided by the Administration and the association or associations under subsection (c); and with respect to the subsequent years covered by the report— with respect to the grant program under subsection (b)— the efforts of the Administrator and resource partners to develop services to assist covered small business concerns; the challenges faced by owners of covered small business concerns in accessing services provided by the Administration and resource partners; the number of unique covered small business concerns that were served by the Administration and resource partners; and other relevant outcome performance data with respect to covered small business concerns, including the number of employees affected, the effect on sales, the disruptions of supply chains, and the efforts made by the Administration and resource partners to mitigate these effects; and with respect to the grant program under subsection (c)— the efforts of the Administrator and the association or associations to develop and evolve an online resource for small business concerns; and the efforts of the Administrator and the association or associations to develop a training program for resource partner counselors, including the number of counselors trained.

§ 9003 State Trade Expansion Program

(a) In general Notwithstanding paragraph (3)(C)(iii) of section 649( l ) of this title, for grants under the State Trade Expansion Program under such section 649( l ) of this title using amounts made available for fiscal year 2018 or fiscal year 2019, the period of the grant shall continue through the end of fiscal year 2021.

(b) Reimbursement The Administrator shall reimburse any recipient of assistance under section 649( l ) of this title for financial losses relating to a foreign trade mission or a trade show exhibition that was cancelled solely due to a public health emergency declared due to COVID–19 if the reimbursement does not exceed a recipient’s grant funding.

§ 9004 Waiver of matching funds requirement under the Women’s Business Center program

During the period beginning on March 27, 2020 , and ending on June 30, 2021 , the requirement relating to obtaining cash contributions from non-Federal sources under section 656(c)(1) of this title is waived for any recipient of assistance under such section 656 of this title . ( Pub. L. 116–136, div. A, title I, § 1105 , Mar. 27, 2020 , 134 Stat. 297 ; Pub. L. 116–260, div. N, title III, § 345(a) , Dec. 27, 2020 , 134 Stat. 2051 .)

§ 9005 Transferred

§ 9006 Direct appropriations

(a) In general There is appropriated, out of amounts in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2020 , to remain available until September 30, 2021 , for additional amounts— $670, 335, 000, 000 u n d er t h e h e a d in g “ S ma llB u s in ess A d mini s t r a t i o n — B u s in ess L o an s P ro g r am A cco u n t, C A RES A c t ” f or t h ecos t o f gu a r an t ee d l o an s a s a u t h or i ze d u n d er p a r a g r a p h (36) o f sec t i o n 636 (a) o f t hi s t i tl e, a s a dd e d b ysec t i o n 1102 (a) o f t hi s A c t;$ 675,000,000 under the heading “Small Business Administration—Salaries and Expenses” for salaries and expenses of the Administration; $25, 000, 000 u n d er t h e h e a d in g “ S ma llB u s in ess A d mini s t r a t i o n — O ff i ceo f I n s p ec t or G e n er a l ”, t ore maina v ai l ab l e u n t i lS e pt e mb er 30, 2024, f or n ecess a rye x p e n seso f t h e O ff i ceo f I n s p ec t or G e n er a l o f t h e A d mini s t r a t i o nin c a rry in g o u tt h e p ro v i s i o n so f t h e I n s p ec t or G e n er a l A c t o f 1978 (5 U . S . C . A pp .); 1$ 265,000,000 under the heading “Small Business Administration—Entrepreneurial Development Programs”, of which— $240, 000, 000 s ha ll b e f orc a rry in g o u t sec t i o n 9002 (b) o f t hi s t i tl e; an d$ 25,000,000 shall be for carrying out section 9002(c) of this title ; $10, 000, 000 u n d er t h e h e a d in g “ De p a r t m e n t o f C o mm erce — M in or i t y B u s in essDe v e l o p m e n t A g e n cy ” f or min or i t y b u s in essce n t erso f t h e M in or i t y B u s in essDe v e l o p m e n t A g e n cy t o p ro v i d e t ec hni c a l a ss i s t an ce t os ma ll b u s in essco n cer n s;$ 10,000,000,000 under the heading “Small Business Administration—Emergency EIDL Grants” shall be for carrying out section 9009 of this title ; $17, 000, 000, 000 u n d er t h e h e a d in g “ S ma llB u s in ess A d mini s t r a t i o n — B u s in ess L o an s P ro g r am A cco u n t, C A RES A c t ” s ha ll b e f orc a rry in g o u t sec t i o n 9011 o f t hi s t i tl e; an d$ 25,000,000 under the heading “Department of the Treasury—Departmental Offices—Salaries and Expenses” shall be for carrying out section 9008 of this title .

(b) Secondary market During the period beginning on March 27, 2020 , and ending on September 30, 2021 , guarantees of trust certificates authorized by section 634(g) of this title with respect to loans under any paragraph of section 636(a) of this title shall not exceed a principal amount of $100,000,000,000.

(c) Reports Not later than 180 days after March 27, 2020 , the Administrator shall submit to the Committee on Appropriations of the Senate and the Committee on Appropriations of the House of Representatives a detailed expenditure plan for using the amounts appropriated to the Administration under subsection (a).

§ 9007 Minority Business Development Agency

(a) Definitions In this section— the term “Agency” means the Minority Business Development Agency of the Department of Commerce; the term “minority business center” means a Business Center of the Agency; the term “minority business enterprise” means a for-profit business enterprise— not less than 51 percent of which is owned by 1 or more socially disadvantaged individuals, as determined by the Agency; and the management and daily business operations of which are controlled by 1 or more socially disadvantaged individuals, as determined by the Agency; and the term “minority chamber of commerce” means a chamber of commerce developed specifically to support minority business enterprises.

(b) Education, training, and advising grants The Agency may provide financial assistance in the form of grants to minority business centers and minority chambers of commerce to provide education, training, and advising to minority business enterprises. Grants under this section shall be used for the education, training, and advising of minority business enterprises and their employees on— accessing and applying for resources provided by the Agency and other Federal resources relating to access to capital and business resiliency; the hazards and prevention of the transmission and communication of COVID–19 and other communicable diseases; the potential effects of COVID–19 on the supply chains, distribution, and sale of products of minority business enterprises and the mitigation of those effects; the management and practice of telework to reduce possible transmission of COVID–19; the management and practice of remote customer service by electronic or other means; the risks of and mitigation of cyber threats in remote customer service or telework practices; the mitigation of the effects of reduced travel or outside activities on minority business enterprises during COVID–19 or similar occurrences; and any other relevant business practices necessary to mitigate the economic effects of COVID–19 or similar occurrences. Matching funds shall not be required for any grant under this section. Goals and metrics for the funds made available under this section shall be jointly developed, negotiated, and agreed upon, with full participation of both parties, between the minority business centers, minority chambers of commerce, and the Agency, which shall— take into consideration the extent of the circumstances relating to the spread of COVID–19, or similar occurrences, that affect minority business enterprises located in the areas covered by minority business centers and minority chambers of commerce, particularly in rural areas or economically distressed areas; generally follow the use of funds outlined in paragraph (2), but shall not restrict the activities of minority business centers and minority chambers of commerce in responding to unique situations; and encourage minority business centers and minority chambers of commerce to develop and provide services to minority business enterprises. The Agency shall make publicly available the methodology by which the Agency, minority business centers, and minority chambers of commerce jointly develop the metrics and goals described in subparagraph (A).

(c) Waivers Notwithstanding any other provision of law or regulation, the Agency may, during the 3-month period that begins on March 27, 2020 , waive any matching requirement imposed on a minority business center or a specialty center of the Agency under a cooperative agreement between such a center and the Agency if the applicable center is unable to raise funds, or has suffered a loss of revenue, because of the effects of COVID–19. Notwithstanding any provision of a cooperative agreement between the Agency and a minority business center, if, during the period beginning on March 27, 2020 , and ending on September 30, 2021 , such a center decides not to collect fees because of the economic consequences of COVID–19, the center shall be considered to be in compliance with that agreement if— the center notifies the Agency with respect to that decision, which the center may provide through electronic mail; and the Agency, not later than 15 days after the date on which the center provides notice to the Agency under subparagraph (A)— confirms receipt of the notification under subparagraph (A); and accepts the decision of the center.

(d) Report Not later than 6 months after March 27, 2020 , and annually thereafter, the Agency shall submit to the Committee on Small Business and Entrepreneurship and the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Small Business and the Committee on Energy and Commerce of the House of Representatives a report that describes— with respect to the period covered by the initial report— the programs and services developed and provided by the Agency, minority business centers, and minority chambers of commerce under subsection (b); and the initial efforts to provide those services under subsection (b); and with respect to subsequent years covered by the report— 1 with respect to the grant program under subsection (b)— the efforts of the Agency, minority business centers, and minority chambers of commerce to develop services to assist minority business enterprises; the challenges faced by owners of minority business enterprises in accessing services provided by the Agency, minority business centers, and minority chambers of commerce; the number of unique minority business enterprises that were served by the Agency, minority business centers, or minority chambers of commerce; and other relevant outcome performance data with respect to minority business enterprises, including the number of employees affected, the effect on sales, the disruptions of supply chains, and the efforts made by the Agency, minority business centers, and minority chambers of commerce to mitigate these effects.

(e) Authorization of appropriations There is authorized to be appropriated $10,000,000 to carry out this section, to remain available until expended.

§ 9008 United States Treasury program management authority

(a) Definitions In this section— the terms “appropriate Federal banking agency” and “insured depository institution” have the meanings given those terms in section 1813 of title 12 ; the term “insured credit union” has the meaning given the term in section 1752 of title 12 ; and the term “Secretary” means the Secretary of the Treasury.

(b) Authority to include additional financial institutions The Department of the Treasury, in consultation with the Administrator, and the Chairman of the Farm Credit Administration shall establish criteria for insured depository institutions, insured credit unions, institutions of the Farm Credit System chartered under the Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq.), and other lenders that do not already participate in lending under programs of the Administration, to participate in the paycheck protection program to provide loans under this section until the date on which the national emergency declared by the President under the National Emergencies Act ( 50 U.S.C. 1601 et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires.

(c) Safety and soundness An insured depository institution, insured credit union, institution of the Farm Credit System chartered under the Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq.), or other lender may only participate in the program established under this section if participation does not affect the safety and soundness of the institution or lender, as determined by the Secretary in consultation with the appropriate Federal banking agencies or the National Credit Union Administration Board, as applicable.

(d) Regulations for lenders and loans The Secretary may issue regulations and guidance as necessary to carry out the purposes of this section, including to— allow additional lenders to originate loans under this section; and establish terms and conditions for loans under this section, including terms and conditions concerning compensation, underwriting standards, interest rates, and maturity. The terms and conditions established under paragraph (1) shall provide for the following: A rate of interest that does not exceed the maximum permissible rate of interest available on a loan of comparable maturity under paragraph (36) of section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ), as added by section 1102 of this Act. Terms and conditions that, to the maximum extent practicable, are consistent with the terms and conditions required under the following provisions of paragraph (36) of section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ), as added by section 1102 of this Act: Subparagraph (D), pertaining to borrower eligibility. Subparagraph (E), pertaining to the maximum loan amount. Subparagraph (F)(i), pertaining to allowable uses of program loans. Subparagraph (H), pertaining to fee waivers. Subparagraph (M), pertaining to loan deferment. A guarantee percentage that, to the maximum extent practicable, is consistent with the guarantee percentage required under subparagraph (F) of section 7(a)(2) of the Small Business Act ( 15 U.S.C. 636(a)(2) ), as added by section 1102 of this Act. Loan forgiveness under terms and conditions that, to the maximum extent practicable, is consistent with the terms and conditions for loan forgiveness under section 7A of the Small Business Act [ 15 U.S.C. 636m ].

(e) Additional regulations generally The Secretary may issue regulations and guidance as necessary to carry out the purposes of this section, including to allow additional lenders to originate loans under this title 1 and to establish terms and conditions such as compensation, underwriting standards, interest rates, and maturity for under 2 this section.

(f) Certification As a condition of receiving a loan under this section, a borrower shall certify under terms acceptable to the Secretary that the borrower— does not have an application pending for a loan under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) for the same purpose; and has not received such a loan during the period beginning on February 15, 2020 and ending on December 31, 2020 .

(g) Opt-in for SBA qualified lenders Lenders qualified to participate as a lender under 7(a) 3 of the Small Business Act ( 15 U.S.C. 636(a) ) may elect to participate in the paycheck protection program under the criteria, terms, and conditions established under this section. Such participation shall not preclude the lenders from continuing participation as a lender under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ).

(h) Program administration With guidance from the Secretary, the Administrator shall administer the program established under this section, including the making and purchasing of guarantees on loans under the program, until the date on which the national emergency declared by the President under the National Emergencies Act ( 50 U.S.C. 1601 et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires.

(i) Criminal penalties A loan under this section shall be deemed to be a loan under the Small Business Act ( 15 U.S.C. 631 et seq.) for purposes of section 16 of such Act ( 15 U.S.C. 645 ).

§ 9009 Emergency EIDL grants

(a) Definitions In this section— the term “covered period” means the period beginning on January 31, 2020 and ending on December 31, 2021 ; and the term “eligible entity” means— a business with not more than 500 employees; any individual who operates under a sole proprietorship, with or without employees, or as an independent contractor; a cooperative with not more than 500 employees; an ESOP (as defined in section 632 of this title ) with not more than 500 employees; a tribal small business concern, as described in section 657a(b)(2)(C) of this title , with not more than 500 employees; or an agricultural enterprise (as defined in section 647(b) of this title 1 with not more than 500 employees.

(b) Eligible entities During the covered period, in addition to small business concerns, private nonprofit organizations, and small agricultural cooperatives, an eligible entity shall be eligible for a loan made under section 636(b)(2) of this title .

(c) Terms; credit elsewhere With respect to a loan made under section 636(b)(2) of this title in response to COVID–19 during the covered period, the Administrator shall waive— any rules related 2 the personal guarantee on advances and loans of not more than $200,000 during the covered period for all applicants; the requirement that an applicant needs to be in business for the 1-year period before the disaster, except that no waiver may be made for a business that was not in operation on January 31, 2020 ; and the requirement in the flush matter following subparagraph (E) of section 636(b)(2) of this title , as so redesignated by subsection (f) of this section, 3 that an applicant be unable to obtain credit elsewhere.

(d) Approval and ability to repay for small dollar loans With respect to a loan made under section 636(b)(2) of this title in response to COVID–19 during the covered period, the Administrator may— approve an applicant— based solely on the credit score of the applicant; or by using alternative appropriate methods to determine an applicant’s ability to repay; and use information from the Department of the Treasury to confirm that— an applicant is eligible to receive such a loan; or the information contained in an application for such a loan is accurate.

(e) Emergency grant During the covered period, an entity included for eligibility in subsection (b), including small business concerns, private nonprofit organizations, and small agricultural cooperatives, that applies for a loan under section 636(b)(2) of this title in response to COVID–19 may request that the Administrator provide an advance that is, subject to paragraph (3), in the amount requested by such applicant to such applicant. With respect to each request submitted to the Administrator under subparagraph (A), the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— verify whether the entity is an entity that is eligible for a loan made under section 636(b)(2) of this title during the covered period, as described in subsection (b); if the Administrator, under clause (i), verifies that the entity submitting the request is an entity that is eligible, as described in that clause, provide the advance requested by the entity; and with respect to an entity that the Administrator determines is not entitled to receive an advance under this subsection, provide the entity with a notification explaining why the Administrator reached that determination. Before disbursing amounts under this subsection, the Administrator shall verify that the applicant is an eligible entity by accepting a self-certification from the applicant under penalty of perjury pursuant to section 1746 of title 28 . The amount of an advance provided under this subsection shall be not more than $10, 000. A na d v an ce p ro v i d e d u n d er t hi ss u b sec t i o nma y b e u se d t o a dd ress an y a ll o w ab l e p u r p ose f or a l o anma d e u n d ersec t i o n 636 (b) (2) o f t hi s t i tl e, in c l u d in g — p ro v i d in g p ai d s i c k l e a v e t oe m pl oyees u nab l e t o w or k d u e t o t h e d i rec t e ff ec t o f t h e CO V I D -19; main t ainin g p a yro llt ore t ain e m pl oyees d u r in g b u s in ess d i sr u pt i o n sors u b s t an t ia l s l o w d o w n s; m ee t in g in cre a se d cos t s t oo b t ainma t er ia l s u na v ai l ab l e f ro m t h e a ppl i c an t ’ sor i g ina l so u rce d u e t o in t err u pt e d s u ppl yc hain s; makin g re n t or m or t g a g e p a y m e n t s; an d re p a y in g o b l i g a t i o n s t ha t c ann o t b e m e t d u e t ore v e n u e l osses . A na ppl i c an t s ha ll n o t b ere q u i re d t ore p a y an y am o u n t so f ana d v an ce p ro v i d e d u n d er t hi ss u b sec t i o n, e v e ni f s u b se q u e n tl y d e ni e d a l o an u n d ersec t i o n 636 (b) (2) o f t hi s t i tl e . T h ere i s a u t h or i ze d t o b e a pp ro p r ia t e d t o t h e A d mini s t r a t i o n$ 40,000,000,000 to carry out this subsection. The authority to carry out grants under this subsection shall terminate on December 31, 2021 . Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of an advance received under this subsection shall be filed not later than 10 years after the offense was committed.

§ 9009a Grants for shuttered venue operators

(a) Definitions In this section: The term “eligible person or entity” means a live venue operator or promoter, theatrical producer, or live performing arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative that meets the following requirements: The live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative— was fully operational as a live venue operator or promoter, theatrical producer, or live performing arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative on February 29, 2020 ; and has gross earned revenue during the first, second, third, or, only with respect to an application submitted on or after January 1, 2021 , fourth quarter in 2020 that demonstrates not less than a 25 percent reduction from the gross earned revenue of the live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative during the same quarter in 2019. As of the date of the grant under this section— the live venue operator or promoter, theatrical producer, or live performing arts organization operator is or intends to resume organizing, promoting, producing, managing, or hosting future live events described in paragraph (3)(A)(i); the motion picture theatre operator is open or intends to reopen for the primary purpose of public exhibition of motion pictures; the relevant museum operator is open or intends to reopen; or the talent representative is representing or managing artists and entertainers. The venues at which the live venue operator or promoter, theatrical producer, or live performing arts organization operator promotes, produces, manages, or hosts events described in paragraph (3)(A)(i) or the artists and entertainers represented or managed by the talent representative perform have the following characteristics: A defined performance and audience space. Mixing equipment, a public address system, and a lighting rig. Engages 1 or more individuals to carry out not less than 2 of the following roles: A sound engineer. A booker. A promoter. A stage manager. Security personnel. A box office manager. There is a paid ticket or cover charge to attend most performances and artists are paid fairly and do not play for free or solely for tips, except for fundraisers or similar charitable events. For a venue owned or operated by a nonprofit entity that produces free events, the events are produced and managed primarily by paid employees, not by volunteers. Performances are marketed through listings in printed or electronic publications, on websites, by mass email, or on social media. A motion picture theatre or motion picture theatres operated by the motion picture theatre operator have the following characteristics: At least 1 auditorium that includes a motion picture screen and fixed audience seating. A projection booth or space containing not less than 1 motion picture projector. A paid ticket charge to attend exhibition of motion pictures. Motion picture exhibitions are marketed through showtime listings in printed or electronic publications, on websites, by mass mail, or on social media. The relevant museum or relevant museums for which the relevant museum operator is seeking a grant under this section have the following characteristics: Serving as a relevant museum as its principal business activity. Indoor exhibition spaces that are a component of the principal business activity and which have been subjected to pandemic-related occupancy restrictions. At least 1 auditorium, theater, or performance or lecture hall with fixed audience seating and regular programming. The live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative does not have, or is not majority owned or controlled by an entity with, any of the following characteristics: Being an issuer, the securities of which are listed on a national securities exchange. Receiving more than 10 percent of gross revenue from Federal funding during 2019, excluding amounts received by the live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.). The live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative does not have, or is not majority owned or controlled by an entity with, more than 2 of the following characteristics: Owning or operating venues, relevant museums, motion picture theatres, or talent agencies or talent management companies in more than 1 country. Owning or operating venues, relevant museums, motion picture theatres, or talent agencies or talent management companies in more than 10 States. Employing more than 500 employees as of February 29, 2020 , determined on a full-time equivalent basis in accordance with subparagraph (C). For purposes of applying the characteristics described in subclauses (I) and (II) to an entity owned by a State or a political subdivision of a State, the relevant entity— shall be the live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative; and shall not include entities of the State or political subdivision other than the live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative. The term “eligible person or entity” shall not include a live venue operator or promoter, theatrical producer, or live performing arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative that— presents live performances of a prurient sexual nature; or derives, directly or indirectly, more than de minimis gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature. For purposes of determining the number of full-time equivalent employees under subparagraph (A)(vi)(II)(cc) of this paragraph and under paragraph (2)(E)— any employee working not fewer than 30 hours per week shall be considered a full-time employee; and any employee working not fewer than 10 hours and fewer than 30 hours per week shall be counted as one-half of a full-time employee. Each business entity of an eligible person or entity that also meets the requirements under subparagraph (A) and that is not described in subparagraph (B) shall be treated by the Administrator as an independent, non-affiliated entity for the purposes of this section. The terms “exchange”, “issuer”, and “security” have the meanings given those terms in section 78c(a) of this title . The term “live venue operator or promoter, theatrical producer, or live performing arts organization operator”— means— an individual or entity— that, as a principal business activity, organizes, promotes, produces, manages, or hosts live concerts, comedy shows, theatrical productions, or other events by performing artists for which— a cover charge through ticketing or front door entrance fee is applied; and performers are paid in an amount that is based on a percentage of sales, a guarantee (in writing or standard contract), or another mutually beneficial formal agreement; and for which not less than 70 percent of the earned revenue of the individual or entity is generated through, to the extent related to a live event described in subclause (I), cover charges or ticket sales, production fees or production reimbursements, nonprofit educational initiatives, or the sale of event beverages, food, or merchandise; or an individual or entity that, as a principal business activity, makes available for purchase by the public an average of not less than 60 days before the date of the event tickets to events— described in clause (i)(I); and for which performers are paid in an amount that is based on a percentage of sales, a guarantee (in writing or standard contract), or another mutually beneficial formal agreement; and includes an individual or entity described in subparagraph (A) that— operates for profit; is a nonprofit organization; is government-owned; or is a corporation, limited liability company, or partnership or operated as a sole proprietorship. The term “motion picture theatre operator” means an individual or entity that— as the principal business activity of the individual or entity, owns or operates at least 1 place of public accommodation for the purpose of motion picture exhibition for a fee; and includes an individual or entity described in subparagraph (A) that— operates for profit; is a nonprofit organization; is government-owned; or is a corporation, limited liability company, or partnership or operated as a sole proprietorship. The term “national securities exchange” means an exchange registered as a national securities exchange under section 78f of this title . The term “nonprofit”, with respect to an organization, means that the organization is exempt from taxation under section 501(a) of title 26 . The term “relevant museum”— has the meaning given the term “museum” in section 9172 of title 20 ; and shall not include any entity that is organized as a for-profit entity. The term “seasonal employer” has the meaning given that term in subparagraph (A) of section 636(a)(36) of this title , as amended by this Act. The term “State” means— a State; the District of Columbia; the Commonwealth of Puerto Rico; and any other territory or possession of the United States. The term “talent representative”— means an agent or manager that— as not less than 70 percent of the operations of the agent or manager, is engaged in representing or managing artists and entertainers; books or represents musicians, comedians, actors, or similar performing artists primarily at live events in venues or at festivals; and represents performers described in clause (ii) that are paid in an amount that is based on the number of tickets sold, or a similar basis; and includes an agent or manager described in subparagraph (A) that— operates for profit; is a nonprofit organization; is government-owned; or is a corporation, limited liability company, or partnership or operated as a sole proprietorship.

(b) Authority The Associate Administrator for the Office of Disaster Assistance of the Administration shall coordinate and formulate policies relating to the administration of grants made under this section. An eligible person or entity applying for a grant under this section shall submit a good faith certification that the uncertainty of current economic conditions makes necessary the grant to support the ongoing operations of the eligible person or entity. The Administrator may make initial grants to eligible persons or entities in accordance with this section. During the initial 14-day period during which the Administrator awards grants under this paragraph, the Administrator shall only award grants to an eligible person or entity with revenue, during the period beginning on April 1, 2020 and ending on December 31, 2020 , that is not more than 10 percent of the revenue of the eligible person or entity during the period beginning on April 1, 2019 and ending on December 31, 2019 , due to the COVID–19 pandemic. During the 14-day period immediately following the 14-day period described in clause (i), the Administrator shall only award grants to an eligible person or entity with revenue, during the period beginning on April 1, 2020 and ending on December 31, 2020 , that is not more than 30 percent of the revenue of the eligible person or entity during the period beginning on April 1, 2019 and ending on December 31, 2019 , due to the COVID–19 pandemic. For purposes of clauses (i) and (ii)— any amounts received by an eligible person or entity under the CARES Act ( Public Law 116–136 ; 134 Stat. 281 ) or an amendment made by the CARES Act shall not be counted as revenue of an eligible person or entity; the Administrator shall use an accrual method of accounting for determining revenue; and the Administrator may use alternative methods to establish revenue losses for an eligible person or entity that is a seasonal employer and that would be adversely impacted if January, February, and March are excluded from the calculation of year-over-year revenues. The Administrator may use not more than 80 percent of the amounts appropriated under section 323(d)(1)(H) of this Act to carry out this section to make initial grants under this paragraph to eligible persons or entities described in clause (i) or (ii) of this subparagraph that apply for a grant under this paragraph during the initial 28-day period during which the Administrator awards grants under this paragraph. After the end of the initial 28-day period during which the Administrator awards grants under this paragraph, the Administrator may award an initial grant to any eligible person or entity. Not more than 5 business entities of an eligible person or entity that would be considered affiliates under the affiliation rules of the Administration may receive a grant under this paragraph. Subject to clause (ii), not less than $2,000,000,000 of the total amount of grants made available under this paragraph shall be awarded to eligible persons or entities which employ not more than 50 full-time employees, determined in accordance with subsection (a)(1)(C). Clause (i) shall not apply on and after the date that is 60 days after the Administrator begins awarding grants under this section and, on and after such date, amounts available for grants under this section may be used for grants under this section to any eligible person or entity. Subject to subparagraph (B), the Administrator may make a supplemental grant in accordance with this section to an eligible person or entity that receives a grant under paragraph (2) if, as of April 1, 2021 , the revenues of the eligible person or entity for the most recent calendar quarter are not more than 30 percent of the revenues of the eligible person or entity for the corresponding calendar quarter during 2019 due to the COVID–19 pandemic. The Administrator may not award a supplemental grant under subparagraph (A) until the Administrator has completed processing (including determining whether to award a grant) each application for an initial grant under paragraph (2) that is submitted by an eligible person or entity on or before the date that is 60 days after the date on which the Administrator begins accepting such applications. An eligible person or entity applying for a grant under this section that is an eligible business described in the matter preceding subclause (I) of section 4003(c)(3)(D)(i) of the CARES Act ( 15 U.S.C. 9042(c)(3)(D)(i) ), shall make a good-faith certification described in subclauses (IX) and (X) of such section.

(c) Amount Subject to subparagraphs (B) and (C), a grant under subsection (b)(2) shall be in the amount equal to the lesser of— for an eligible person or entity that was in operation on January 1, 2019 , the amount equal to 45 percent of the gross earned revenue of the eligible person or entity during 2019; or for an eligible person or entity that began operations after January 1, 2019 , the amount equal to the product obtained by multiplying— the average monthly gross earned revenue for each full month during which the eligible person or entity was in operation during 2019; by 6; or $10, 000, 000. A re l e v an t m u se u m o p er a t or ma y n o t rece i v e g r an t s u n d ers u b sec t i o n (b) (2) ina t o t a l am o u n tt ha t i s m ore t han$ 10,000,000 with respect to all relevant museums operated by the relevant museum operator. The otherwise applicable amount of a grant under subsection (b)(2) to an eligible person or entity shall be reduced by the total amount of loans guaranteed under paragraph (36) or (37) of section 636(a) of this title that are received on or after December 27, 2020 by the eligible person or entity. For purposes of applying clause (i) to an eligible person or entity owned by a State or a political subdivision of a State, the relevant entity— shall be the eligible person or entity; and shall not include entities of the State or political subdivision other than the eligible person or entity. A grant under subsection (b)(3) shall be in the amount equal to 50 percent of the grant received by the eligible person or entity under subsection (b)(2). The total amount of grants received under paragraphs (2) and (3) of subsection (b) by an eligible person or entity shall be not more than $10,000,000.

(d) Use of funds Except as provided in clause (ii), amounts received under a grant under this section may be used for costs incurred during the period beginning on March 1, 2020 , and ending on December 31, 2021 . If an eligible person or entity receives a grant under subsection (b)(3), amounts received under either grant under this section may be used for costs incurred during the period beginning on March 1, 2020 , and ending on June 30, 2022 . Except as provided in clause (ii), an eligible person or entity shall return to the Administrator any amounts received under a grant under this section that are not expended on or before the date that is 1 year after the date of disbursement of the grant. If an eligible person or entity receives a grant under subsection (b)(3), the eligible person or entity shall return to the Administrator any amounts received under either grant under this section that are not expended on or before the date that is 18 months after the date of disbursement to the eligible person or entity of the grant under subsection (b)(2). In this paragraph— the terms “covered mortgage obligation”, “covered rent obligation”, “covered utility payment”, and “covered worker protection expenditure” have the meanings given those terms in section 636m(a) of this title , as redesignated, transferred, and amended by this Act; and the term “payroll costs” has the meaning given that term in section 636(a)(36)(A) of this title . An eligible person or entity may use amounts received under a grant under this section for— payroll costs; payments on any covered rent obligation; any covered utility payment; scheduled payments of interest or principal on any covered mortgage obligation (which shall not include any prepayment of principal on a covered mortgage obligation); scheduled payments of interest or principal on any indebtedness or debt instrument (which shall not include any prepayment of principal) incurred in the ordinary course of business that is a liability of the eligible person or entity and was incurred prior to February 15, 2020 ; covered worker protection expenditures; payments made to independent contractors, as reported on Form–1099 MISC, not to exceed a total of $100,000 in annual compensation for any individual employee of an independent contractor; and other ordinary and necessary business expenses, including— maintenance expenses; administrative costs, including fees and licensing costs; State and local taxes and fees; operating leases in effect as of February 15, 2020 ; payments required for insurance on any insurance policy; and advertising, production transportation, and capital expenditures related to producing a theatrical or live performing arts production, concert, exhibition, or comedy show, except that a grant under this section may not be used primarily for such expenditures. An eligible person or entity may not use amounts received under a grant under this section— to purchase real estate; for payments of interest or principal on loans originated after February 15, 2020 ; to invest or re-lend funds; for contributions or expenditures to, or on behalf of, any political party, party committee, or candidate for elective office; or for any other use as may be prohibited by the Administrator.

(e) Increased oversight of shuttered venue operator grants The Administrator shall increase oversight of eligible persons and entities receiving grants under this section, which may include the following: Additional documentation requirements that are consistent with the eligibility and other requirements under this section, including requiring an eligible person or entity that receives a grant under this section to retain records that document compliance with the requirements for grants under this section— with respect to employment records, for the 4-year period following receipt of the grant; and with respect to other records, for the 3-year period following receipt of the grant. Reviews of the use of the grant proceeds by an eligible person or entity to ensure compliance with requirements established under this section and by the Administrator, including that the Administrator may— review and audit grants under this section; and in the case of fraud or other material noncompliance with respect to a grant under this section— require repayment of misspent funds; or pursue legal action to collect funds.

(f) Shuttered venue oversight and audit plan Not later than 45 days after December 27, 2020 , the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives an audit plan that details— the policies and procedures of the Administrator for conducting oversight and audits of grants under this section; and the metrics that the Administrator shall use to determine which grants under this section will be audited pursuant to subsection (e). Not later than 60 days after December 27, 2020 , and each month thereafter until the date that is 1 year after the date on which all amounts made available under section 323(d)(1)(H) of this Act have been expended, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the oversight and audit activities of the Administrator under this subsection, which shall include— the total number of initial grants approved and disbursed; the total amount of grants received by each eligible person or entity, including any supplemental grants; the number of active investigations and audits of grants under this section; the number of completed reviews and audits of grants under this section, including a description of any findings of fraud or other material noncompliance. 1 any substantial changes made to the oversight and audit plan submitted under paragraph (1).

§ 9009b Targeted EIDL advance for small business continuity, adaptation, and resiliency

(a) Definitions In this section: The term “agricultural enterprise” has the meaning given the term in section 647(b) of this title . The term “covered entity”— means an eligible entity that— applies for a loan under section 636(b)(2) of this title during the covered period, including before December 27, 2020 ; is located in a low-income community; has suffered an economic loss of greater than 30 percent; and employs not more than 300 employees; and except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise. The term “covered period” has the meaning given the term in section 9009(a)(1) of this title , as amended by section 332 of this Act. The term “economic loss” means, with respect to a covered entity— the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020 , and December 31, 2021 , relative to a comparable 8-week period immediately preceding March 2, 2020 , or during 2019; or if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator. The term “eligible entity” means an entity that, during the covered period, is eligible for a loan made under section 636(b)(2) of this title , as described in section 9009(b) of this title . The term “low-income community” has the meaning given the term in section 45D(e) of title 26 .

(b) Entitlement to full amount Subject to paragraph (2), a covered entity, after submitting a request to the Administrator that the Administrator verifies under subsection (c), shall receive a total of $10, 000 u n d ersec t i o n 9009 (e) o f t hi s t i tl e, w i t h o u t re g a r d t o w h e t h er — t h e a ppl i c ab l e l o an f or w hi c h t h eco v ere d e n t i t y a ppl i esor a ppl i e d u n d ersec t i o n 636 (b) (2) o f t hi s t i tl e i sor w a s a pp ro v e d; t h eco v ere d e n t i t y a cce pt sor a cce pt e d t h eo ff ero f t h e A d mini s t r a t or w i t h res p ec tt o ana pp ro v e d l o an d escr ib e d in s u b p a r a g r a p h (A); or t h eco v ere d e n t i t y ha s p re v i o u s l yrece i v e d a l o an u n d ersec t i o n 636 (a) (36) o f t hi s t i tl e . Wi t h res p ec tt o a co v ere d e n t i t y t ha t rece i v e d an e m er g e n cy g r an t u n d ersec t i o n 9009 (e) o f t hi s t i tl e b e f oreDece mb er 27, 2020, t h e am o u n t o f t h e p a y m e n tt ha tt h eco v ere d e n t i t ys ha ll rece i v e u n d er t hi ss u b sec t i o n (a f t ers a t i s f a c t i o n o f t h e p roce d u resre q u i re d u n d ers u b p a r a g r a p h (B)) s ha ll b e t h e d i ff ere n ce b e tw ee n$ 10,000 and the amount of that previously received grant. If the Administrator receives a request under paragraph (1) from a covered entity described in subparagraph (A) of this paragraph, the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— perform the verification required under subsection (c); if the Administrator, under subsection (c), verifies that the entity is a covered entity, provide to the covered entity a payment in the amount described in subparagraph (A); and with respect to a covered entity that the Administrator determines is not entitled to a payment under this section, provide the covered entity with a notification explaining why the Administrator reached that determination. Nothing in this paragraph may be construed to require any entity that received an emergency grant under section 9009(e) of this title before December 27, 2020 , to repay any amount of that grant.

(c) Verification In carrying out this section, the Administrator shall require any information, including any tax records, from an entity submitting a request under subsection (b) that the Administrator determines to be necessary to verify that the entity is a covered entity, without regard to whether the entity has previously submitted such information to the Administrator.

(d) Order of processing The Administrator shall process and approve requests for payments under subsection (b) in the order that the Administrator receives the requests, except that the Administrator shall give— first priority to covered entities described in subsection (b)(2)(A); and second priority to covered entities that have not received emergency grants under section 9009(e) of this title , as of the date on which the Administrator receives such a request, because of the unavailability of funding to carry out such section 9009(e).

(e) Applicability In addition to any other restriction imposed under this section, any eligibility restriction applicable to a loan made under section 636(b)(2) of this title , including any restriction under section 123.300 or 123.301 of title 13, Code of Federal Regulations, or any successor regulation, shall apply with respect to funding provided under this section.

(f) Notification required The Administrator shall provide notice to each of the following entities stating that the entity may be eligible for a payment under this section if the entity satisfies the requirements under clauses (ii), (iii), and (iv) of subsection (a)(2)(A): Each entity that received an emergency grant under section 9009(e) of this title before December 27, 2020 . Each entity that, before December 27, 2020 — applied for a loan under section 636(b)(2) of this title ; and did not receive an emergency grant under section 9009(e) of this title because of the unavailability of funding to carry out such section 9009(e).

(g) Administration In carrying out this section, the Administrator may rely on loan officers and other personnel of the Office of Disaster Assistance of the Administration and other resources of the Administration, including contractors of the Administration.

(h) Authorization of appropriations There are authorized to be appropriated to the Administrator $20, 000, 000, 000 t oc a rryo u tt hi ssec t i o n — w hi c h s ha ll re maina v ai l ab l e t h ro ug h Dece mb er 31, 2021; an d o f w hi c h$ 20,000,000 is authorized to be appropriated to the Inspector General of the Administration to prevent waste, fraud, and abuse with respect to funding provided under this section.

(i) Statute of limitations Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of any amount received pursuant to this section shall be filed not later than 10 years after the offense was committed.

§ 9009c Support for restaurants

(a) Definitions In this section: The term “Administrator” means the Administrator of the Small Business Administration. The term “affiliated business” means a business in which an eligible entity has an equity or right to profit distributions of not less than 50 percent, or in which an eligible entity has the contractual authority to control the direction of the business, provided that such affiliation shall be determined as of any arrangements or agreements in existence as of March 13, 2020 . The term “covered period” means the period— beginning on February 15, 2020 ; and ending on December 31, 2021 , or a date to be determined by the Administrator that is not later than 2 years after March 11, 2021 . The term “eligible entity”— means a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink; includes an entity described in subparagraph (A) that is located in an airport terminal or that is a Tribally-owned concern; and does not include— an entity described in subparagraph (A) that— is a State or local government-operated business; as of March 13, 2020 , owns or operates (together with any affiliated business) more than 20 locations, regardless of whether those locations do business under the same or multiple names; or has a pending application for or has received a grant under section 9009a of this title ; or a publicly-traded company. The terms “exchange”, “issuer”, and “security” have the meanings given those terms in section 78c(a) of this title . The term “Fund” means the Restaurant Revitalization Fund established under subsection (b). The term “pandemic-related revenue loss” means, with respect to an eligible entity— except as provided in subparagraphs (B), (C), and (D), the gross receipts, as established using such verification documentation as the Administrator may require, of the eligible entity during 2020 subtracted from the gross receipts of the eligible entity in 2019, if such sum is greater than zero; if the eligible entity was not in operation for the entirety of 2019— the difference between— the product obtained by multiplying the average monthly gross receipts of the eligible entity in 2019 by 12; and the product obtained by multiplying the average monthly gross receipts of the eligible entity in 2020 by 12; or an amount based on a formula determined by the Administrator; if the eligible entity opened during the period beginning on January 1, 2020 , and ending on the day before March 11, 2021 — the expenses described in subsection (c)(5)(A) that were incurred by the eligible entity minus any gross receipts received; or an amount based on a formula determined by the Administrator; or if the eligible entity has not yet opened as of the date of application for a grant under subsection (c), but has incurred expenses described in subsection (c)(5)(A) as of March 11, 2021 — the amount of those expenses; or an amount based on a formula determined by the Administrator. For purposes of this paragraph, the pandemic-related revenue losses for an eligible entity shall be reduced by any amounts received from a covered loan made under paragraph (36) or (37) of section 636(a) of this title in 2020 or 2021. The term “payroll costs” has the meaning given the term in section 636(a)(36)(A) of this title , except that such term shall not include— qualified wages (as defined in subsection (c)(3) of section 2301 of the CARES Act) taken into account in determining the credit allowed under such section 2301; or premiums taken into account in determining the credit allowed under section 6432 of title 26 . The term “publicly-traded company” means an entity that is majority owned or controlled by an entity that is an issuer, the securities of which are listed on a national securities exchange under section 78f of this title . The term “Tribally-owned concern” has the meaning given the term in section 124.3 of title 13, Code of Federal Regulations, or any successor regulation.

(b) Restaurant Revitalization Fund There is established in the Treasury of the United States a fund to be known as the Restaurant Revitalization Fund. In addition to amounts otherwise available, there is appropriated to the Restaurant Revitalization Fund for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $28, 600, 000, 000, t ore maina v ai l ab l e u n t i l e x p e n d e d . O f t h e am o u n t s ma d e a v ai l ab l e u n d ers u b p a r a g r a p h (A) —$ 5,000,000,000 shall be available to eligible entities with gross receipts during 2019 of not more than $500, 000; an d$ 23,600,000,000 shall be available to the Administrator to award grants under subsection (c) in an equitable manner to eligible entities of different sizes based on annual gross receipts. The Administrator may make adjustments as necessary to the distribution of funds under clause (i)(II) based on demand and the relative local costs in the markets in which eligible entities operate. Notwithstanding subparagraph (B), on and after the date that is 60 days after March 11, 2021 , or another period of time determined by the Administrator, the Administrator may make grants using amounts appropriated under subparagraph (A) to any eligible entity regardless of the annual gross receipts of the eligible entity. The Administrator shall use amounts in the Fund to make grants described in subsection (c).

(c) Restaurant revitalization grants Except as provided in subsection (b) and paragraph (3), the Administrator shall award grants to eligible entities in the order in which applications are received by the Administrator. An eligible entity applying for a grant under this subsection shall make a good faith certification that— the uncertainty of current economic conditions makes necessary the grant request to support the ongoing operations of the eligible entity; and the eligible entity has not applied for or received a grant under section 9009a of this title . In accepting applications for grants under this subsection, the Administrator shall prioritize the ability of each applicant to use their existing business identifiers over requiring other forms of registration or identification that may not be common to their industry and imposing additional burdens on applicants. During the initial 21-day period in which the Administrator awards grants under this subsection, the Administrator shall prioritize awarding grants to eligible entities that are small business concerns owned and controlled by women (as defined in section 632(n) of this title ), small business concerns owned and controlled by veterans (as defined in section 632(q) of this title ), or socially and economically disadvantaged small business concerns (as defined in section 637(a)(4)(A) of this title ). The Administrator may take such steps as necessary to ensure that eligible entities described in this subparagraph have access to grant funding under this section after the end of such 21-day period. For purposes of establishing priority under subparagraph (A), an applicant shall submit a self-certification of eligibility for priority with the grant application. The aggregate amount of grants made to an eligible entity and any affiliated businesses of the eligible entity under this subsection— shall not exceed $10, 000, 000; an d s ha ll b e l imi t e d t o$ 5,000,000 per physical location of the eligible entity. Except as provided in this paragraph, the amount of a grant made to an eligible entity under this subsection shall be equal to the pandemic-related revenue loss of the eligible entity. Any amount of a grant made under this subsection to an eligible entity based on estimated receipts that is greater than the actual gross receipts of the eligible entity in 2020 shall be returned to the Treasury. During the covered period, an eligible entity that receives a grant under this subsection may use the grant funds for the following expenses incurred as a direct result of, or during, the COVID–19 pandemic: Payroll costs. Payments of principal or interest on any mortgage obligation (which shall not include any prepayment of principal on a mortgage obligation). Rent payments, including rent under a lease agreement (which shall not include any prepayment of rent). Utilities. Maintenance expenses, including— construction to accommodate outdoor seating; and walls, floors, deck surfaces, furniture, fixtures, and equipment. Supplies, including protective equipment and cleaning materials. Food and beverage expenses that are within the scope of the normal business practice of the eligible entity before the covered period. Covered supplier costs, as defined in section 636m(a) of this title (as redesignated, transferred, and amended by section 304(b) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act ( Public Law 116–260 )). Operational expenses. Paid sick leave. Any other expenses that the Administrator determines to be essential to maintaining the eligible entity. If an eligible entity that receives a grant under this subsection fails to use all grant funds or permanently ceases operations on or before the last day of the covered period, the eligible entity shall return to the Treasury any funds that the eligible entity did not use for the allowable expenses under paragraph (5).

§ 9010 Resources and services in languages other than English

(a) In general The Administrator shall provide the resources and services made available by the Administration to small business concerns in the 10 most commonly spoken languages, other than English, in the United States, which shall include Mandarin, Cantonese, Japanese, and Korean.

(b) Authorization of appropriations There is authorized to be appropriated to the Administrator $25,000,000 to carry out this section.

§ 9011 Subsidy for certain loan payments

(a) Definition of covered loan In this section, the term “covered loan” means a loan that is— guaranteed by the Administration under— section 636(a) of this title — including a loan made under the Community Advantage Pilot Program of the Administration; and excluding a loan made under paragraph (36) of such section 636(a) of this title , as added by section 1102; or title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq.); or made by an intermediary to a small business concern using loans or grants received under section 636(m) of this title .

(b) Sense of Congress It is the sense of Congress that— all borrowers are adversely affected by COVID–19; relief payments by the Administration are appropriate for all borrowers; and in addition to the relief provided under this Act, the Administration should encourage lenders to provide payment deferments, when appropriate, and to extend the maturity of covered loans, so as to avoid balloon payments or any requirement for increases in debt payments resulting from deferments provided by lenders during the period of the national emergency declared by the President under the National Emergencies Act ( 50 U.S.C. 1601 et seq.) with respect to the Coronavirus Disease 2019 (COVID–19).

(c) Principal and interest payments Subject to the other provisions of this section, the Administrator shall pay the principal, interest, and any associated fees that are owed on a covered loan in a regular servicing status, without regard to the date on which the covered loan is fully disbursed, and subject to availability of funds, as follows: With respect to a covered loan made before March 27, 2020 , and not on deferment, the Administrator shall make those payments as follows: The Administrator shall make those payments for the 6-month period beginning with the next payment due on the covered loan. In addition to the payments under clause (i)— with respect to a covered loan other than a covered loan described in paragraph (1)(A)(i) or (2) of subsection (a), the Administrator shall make those payments for— the 3-month period beginning with the first payment due on the covered loan on or after February 1, 2021 ; and an additional 5-month period immediately following the end of the 3-month period provided under item (aa) if the covered loan is made to a borrower that, according to records of the Administration, is assigned a North American Industry Classification System code beginning with 61, 71, 72, 213, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812; and with respect to a covered loan described in paragraph (1)(A)(i) or (2) of subsection (a), the Administrator shall make those payments for the 8-month period beginning with the first payment due on the covered loan on or after February 1, 2021 . With respect to a covered loan made before March 27, 2020 , and on deferment, the Administrator shall make those payments as follows: The Administrator shall make those payments for the 6-month period beginning with the next payment due on the covered loan after the deferment period. In addition to the payments under clause (i)— with respect to a covered loan other than a covered loan described in paragraph (1)(A)(i) or (2) of subsection (a), the Administrator shall make those payments for— the 3-month period (beginning on or after February 1, 2021 ) beginning with the later of— the next payment due on the covered loan after the deferment period; or the first month after the Administrator has completed the payments under clause (i); and an additional 5-month period immediately following the end of the 3-month period provided under item (aa) if the covered loan is made to a borrower that, according to records of the Administration, is assigned a North American Industry Classification System code beginning with 61, 71, 72, 213, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812; and with respect to a loan described in paragraph (1)(A)(i) or (2) of subsection (a), the 8-month period (beginning on or after February 1, 2021 ) beginning with the later of— the next payment due on the covered loan after the deferment period; or the first month after the payments under clause (i) are complete. With respect to a covered loan made during the period beginning on March 27, 2020 , and ending on the date that is 6 months after March 27, 2020 , for the 6-month period beginning with the first payment due on the covered loan. With respect to a covered loan approved during the period beginning on February 1, 2021 , and ending on September 30, 2021 , for the 6-month period beginning with the first payment due on the covered loan. The Administrator shall begin making payments under paragraph (1) on a covered loan not later than 30 days after the date on which the first such payment is due. Any payment made by the Administrator under paragraph (1) shall be applied to the covered loan such that the borrower is relieved of the obligation to pay that amount. No single monthly payment of principal, interest, and associated fees made by the Administrator under subparagraph (A)(ii), (B)(ii), or (D) of paragraph (1) with respect to a covered loan may be in a total amount that is more than $9, 000. I f, f or am o n t h, t h e t o t a l am o u n t o f p r in c i p a l, in t eres t, an d a ssoc ia t e df ees t ha t a reo w e d o na co v ere d l o an f or w hi c h t h e A d mini s t r a t i o nmak es p a y m e n t s u n d er p a r a g r a p h (1) i s m ore t han$ 9,000 the Administrator may require the lender with respect to the covered loan to add the amount by which those costs exceed $9,000 for that month as interest to be paid by the borrower with respect to the covered loan at the end of the loan period. With respect to a loan described in paragraph (1)(C)— the Administrator may further extend the period described in paragraph (1)(C) if there are sufficient funds to continue those payments; and during the underwriting process, a lender of such a loan may consider the payments under this section as part of a comprehensive review to determine the ability to repay over the entire period of maturity of the loan. Eligibility for a covered loan to receive such payments of principal, interest, and any associated fees under this subsection shall be based on the date on which the covered loan is approved by the Administration. The Administrator shall monitor whether amounts made available to make payments under this subsection are sufficient to make the payments for the periods described in paragraph (1). If the Administrator determines under subparagraph (A) that the amounts made available to make payments under this subsection are insufficient, the Administrator shall— develop a plan to proportionally reduce the number of months provided for each period described in paragraph (1), while ensuring all amounts made available to make payments under this subsection are fully expended; and before taking action under the plan developed under clause (i), submit to Congress a report regarding the plan, which shall include the data that informs the plan. With respect to the payments made under this subsection— no lender may charge a late fee to a borrower with respect to a covered loan during any period in which the Administrator makes payments with respect to the covered loan under paragraph (1); and the Administrator shall, with respect to a covered loan, make all payments with respect to the covered loan under paragraph (1) not later than the 15th day of the applicable month. Except as provided in paragraph (4), nothing in this subsection may be construed to preclude a borrower from receiving full payments of principal, interest, and any associated fees authorized under this subsection with respect to a covered loan.

(d) Other requirements The Administrator shall— communicate and coordinate with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and State bank regulators to encourage those entities to not require lenders to increase their reserves on account of receiving payments made by the Administrator under subsection (c); waive statutory limits on maximum loan maturities for any covered loan durations where the lender provides a deferral and extends the maturity of covered loans during the 1-year period following March 27, 2020 ; and when necessary to provide more time because of the potential of higher volumes, travel restrictions, and the inability to access some properties during the COVID–19 pandemic, extend lender site visit requirements to— not more than 60 days (which may be extended at the discretion of the Administration) after the occurrence of an adverse event, other than a payment default, causing a loan to be classified as in liquidation; and not more than 90 days after a payment default.

(e) Rule of construction Nothing in this section may be construed to limit the authority of the Administrator to make payments pursuant to subsection (c) with respect to a covered loan solely because the covered loan has been sold in the secondary market.

(f) Eligibility for new loans For each individual lending program under this section, the Administrator may establish a minimum loan maturity period, taking into consideration the normal underwriting requirements for each such program, with the goal of preventing abuse under the program.

(g) Limitation on assistance A borrower may not receive assistance under subsection (c) for more than 1 covered loan of the borrower described in paragraph (1)(C) of that subsection.

(h) Reporting and outreach Not later than 14 days after the date of enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, the Administrator shall make publicly available information regarding the modifications to the assistance provided under this section under the amendments made by such Act. Not later than 21 days after the date of enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act the Administrator shall issue guidance on implementing the modifications to the assistance provided under this section under the amendments made by such Act. Not later than March 1, 2021 , the Administrator shall transmit to each lender of a covered loan a list of each borrower of a covered loan that includes the North American Industry Classification System code assigned to the borrower, based on the records of the Administration, to assist the lenders in identifying which borrowers qualify for an extension of payments under subsection (c). The Administrator shall provide education, outreach, and communication to lenders, borrowers, district offices, and resource partners of the Administration in order to ensure full and proper compliance with this section, encourage broad participation with respect to covered loans that have not yet been approved by the Administrator, and help lenders transition borrowers from subsidy payments under this section directly to a deferral when suitable for the borrower. Not later than 30 days after the date of enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, the Administrator shall mail a letter to each borrower of a covered loan that includes— an overview of assistance provided under this section; the rights of the borrower to receive that assistance; how to seek recourse with the Administrator or the lender of the covered loan if the borrower has not received that assistance; and the rights of the borrower to request a loan deferral from a lender, and guidance on how to do 1 successfully transition directly to a loan deferral once subsidy payments under this section are concluded. Not later than the 15th of each month beginning after the date of enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, the Administrator shall submit to Congress a report on assistance provided under this section, which shall include— monthly and cumulative data on payments made under this section as of the date of the report, including a breakdown by— the number of participating borrowers; the volume of payments made for each type of covered loan; and the volume of payments made for covered loans made before March 27, 2020 , and loans made after March 27, 2020 ; the names of any lenders of covered loans that have not submitted information on the covered loans to the Administrator during the preceding month; and an update on the education and outreach activities of the Administration carried out under paragraph (3).

(i) Authorization of appropriations There is authorized to be appropriated to the Administrator $17,000,000,000 to carry out this section.

§ 9012 Emergency rulemaking authority

Not later than 15 days after March 27, 2020 , the Administrator shall issue regulations to carry out this title 1 and the amendments made by this title 1 without regard to the notice requirements under section 553(b) of title 5 . ( Pub. L. 116–136, div. A, title I, § 1114 , Mar. 27, 2020 , 134 Stat. 312 .)

§ 9013 Community Navigator pilot program

(a) Definitions In this section: The term “Administration” means the Small Business Administration. The term “Administrator” means the Administrator of the Small Business Administration. The term “community navigator services” means the outreach, education, and technical assistance provided by community navigators that target eligible businesses to increase awareness of, and participation in, programs of the Small Business Administration. The term “community navigator” means a community organization, community financial institution as defined in section 636(a)(36)(A) of this title , or other private nonprofit organization engaged in the delivery of community navigator services. The term “eligible business” means any small business concern, with priority for small business concerns owned and controlled by women (as defined in section 632(n) of this title ), small business concerns owned and controlled by veterans (as defined in section 632(q) of this title ), and socially and economically disadvantaged small business concerns (as defined in section 637(a)(4)(A) of this title ). The term “private nonprofit organization” means an entity that is described in section 501(c) of title 26 and exempt from tax under section 501(a) of such title. The term “resource partner” means— a small business development center (as defined in section 632 of this title ); a women’s business center (as described in section 656 of this title ); and a chapter of the Service Corps of Retired Executives (as defined in section 637(b)(1)(B) of this title ). The term “small business concern” has the meaning given under section 632 of this title . The term “State” means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, the Commonwealth of the Northern Mariana Islands, and Guam, or an agency, instrumentality, or fiscal agent thereof. The term “unit of general local government” means a county, city, town, village, or other general purpose political subdivision of a State.

(b) Community Navigator pilot program The Administrator of the Small Business Administration shall establish a Community Navigator pilot program to make grants to, or enter into contracts or cooperative agreements with, private nonprofit organizations, resource partners, States, Tribes, and units of local government to ensure the delivery of free community navigator services to current or prospective owners of eligible businesses in order to improve access to assistance programs and resources made available because of the COVID–19 pandemic by Federal, State, Tribal, and local entities. In addition to amounts otherwise available, there is appropriated to the Administrator for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $100,000,000, to remain available until September 30, 2022 , for carrying out this subsection.

(c) Outreach and education The Administrator shall develop and implement a program to promote community navigator services to current or prospective owners of eligible businesses. The Administrator shall establish a telephone hotline to offer information about Federal programs to assist eligible businesses and offer referral services to resource partners, community navigators, potential lenders, and other persons that the Administrator determines appropriate for current or prospective owners of eligible businesses. The Administrator shall— conduct outreach and education, in the 10 most commonly spoken languages in the United States, to current or prospective owners of eligible businesses on community navigator services and other Federal programs to assist eligible businesses; improve the website of the Administration to describe such community navigator services and other Federal programs; and implement an education campaign by advertising in media targeted to current or prospective owners of eligible businesses. In addition to amounts otherwise available, there is appropriated to the Administrator for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $75,000,000, to remain available until September 30, 2022 , for carrying out this subsection.

(d) Sunset The authority of the Administrator to make grants under this section shall terminate on December 31, 2025 .

§ 9021 Pandemic unemployment assistance

(a) Definitions In this section: The term “COVID–19” means the 2019 Novel Coronavirus or 2019-nCoV. The term “COVID–19 public health emergency” means the public health emergency declared by the Secretary of Health and Human Services on January 27, 2020 , with respect to the 2019 Novel Coronavirus. The term “covered individual”— means an individual who— is not eligible for regular compensation or extended benefits under State or Federal law or pandemic emergency unemployment compensation under section 9025 of this title , including an individual who has exhausted all rights to regular unemployment or extended benefits under State or Federal law or pandemic emergency unemployment compensation under section 9025 of this title ; provides self-certification that the individual— is otherwise able to work and available for work within the meaning of applicable State law, except the individual is unemployed, partially unemployed, or unable or unavailable to work because— the individual has been diagnosed with COVID–19 or is experiencing symptoms of COVID–19 and seeking a medical diagnosis; a member of the individual’s household has been diagnosed with COVID–19; the individual is providing care for a family member or a member of the individual’s household who has been diagnosed with COVID–19; a child or other person in the household for which the individual has primary caregiving responsibility is unable to attend school or another facility that is closed as a direct result of the COVID–19 public health emergency and such school or facility care is required for the individual to work; the individual is unable to reach the place of employment because of a quarantine imposed as a direct result of the COVID–19 public health emergency; the individual is unable to reach the place of employment because the individual has been advised by a health care provider to self-quarantine due to concerns related to COVID–19; the individual was scheduled to commence employment and does not have a job or is unable to reach the job as a direct result of the COVID–19 public health emergency; the individual has become the breadwinner or major support for a household because the head of the household has died as a direct result of COVID–19; the individual has to quit his or her job as a direct result of COVID–19; the individual’s place of employment is closed as a direct result of the COVID–19 public health emergency; or the individual meets any additional criteria established by the Secretary for unemployment assistance under this section; or is self-employed, is seeking part-time employment, does not have sufficient work history, or otherwise would not qualify for regular unemployment or extended benefits under State or Federal law or pandemic emergency unemployment compensation under section 9025 of this title , and meets the requirements of subclause (I); and provides documentation to substantiate employment or self-employment or the planned commencement of employment or self-employment not later than 21 days after the later of the date on which the individual submits an application for pandemic unemployment assistance under this section or the date on which an individual is directed by the State Agency to submit such documentation in accordance with section 625.6(e) of title 20, Code of Federal Regulations, or any successor thereto, except that such deadline may be extended if the individual has shown good cause under applicable State law for failing to submit such documentation; and does not include— an individual who has the ability to telework with pay; or an individual who is receiving paid sick leave or other paid leave benefits, regardless of whether the individual meets a qualification described in items (aa) through (kk) of subparagraph (A)(i)(I). The term “Secretary” means the Secretary of Labor. The term “State” includes the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau.

(b) Assistance for unemployment as a result of COVID–19 Subject to subsection (c), the Secretary shall provide to any covered individual unemployment benefit assistance while such individual is unemployed, partially unemployed, or unable to work for the weeks of such unemployment with respect to which the individual is not entitled to any other unemployment compensation (as that term is defined in section 85(b) of title 26 ) or waiting period credit.

(c) Applicability Except as provided in paragraph (2), the assistance authorized under subsection (b) shall be available to a covered individual— for weeks of unemployment, partial unemployment, or inability to work caused by COVID–19— beginning on or after January 27, 2020 ; and ending on or before September 6, 2021 ; and subject to subparagraph (A)(ii), as long as the covered individual’s unemployment, partial unemployment, or inability to work caused by COVID–19 continues. The total number of weeks for which a covered individual may receive assistance under this section shall not exceed 79 weeks and such total shall include any week for which the covered individual received regular compensation or extended benefits under any Federal or State law, except that if after March 27, 2020 , the duration of extended benefits is extended, the 79-week period described in this paragraph shall be extended by the number of weeks that is equal to the number of weeks by which the extended benefits were extended. The Secretary shall establish a process for making assistance under this section available for weeks beginning on or after January 27, 2020 , and before March 27, 2020 . An individual may appeal any determination or redetermination regarding the rights to pandemic unemployment assistance under this section made by the State agency of any of the States. All levels of appeal filed under this paragraph in the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, and the Virgin Islands— shall be carried out by the applicable State that made the determination or redetermination; and shall be conducted in the same manner and to the same extent as the applicable State would conduct appeals of determinations or redeterminations regarding rights to regular compensation under State law. With respect to any appeal filed in Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, Republic of the Marshall Islands, and the Republic of Palau— lower level appeals shall be carried out by the applicable entity within the State; if a higher level appeal is allowed by the State, the higher level appeal shall be carried out by the applicability entity within the State; and appeals described in clauses (i) and (ii) shall be conducted in the same manner and to the same extent as appeals of regular unemployment compensation are conducted under the unemployment compensation law of Hawaii. As a condition of continued eligibility for assistance under this section, a covered individual shall submit a recertification to the State for each week after the individual’s 1st week of eligibility that certifies that the individual remains an individual described in subsection (a)(3)(A)(ii) for such week.

(d) Amount of assistance The assistance authorized under subsection (b) for a week of unemployment, partial unemployment, or inability to work shall be— the weekly benefit amount authorized under the unemployment compensation law of the State where the covered individual was employed, except that the amount may not be less than the minimum weekly benefit amount described in section 625.6 of title 20, Code of Federal Regulations, or any successor thereto; and the amount of Federal Pandemic Unemployment Compensation under section 9023 of this title ; and in the case of an increase of the weekly benefit amount after March 27, 2020 , increased in an amount equal to such increase. In the case of a covered individual who is self-employed, who lives in a territory described in subsection (c) or (d) of section 625.6 of title 20, Code of Federal Regulations, or who would not otherwise qualify for unemployment compensation under State law, the assistance authorized under subsection (b) for a week of unemployment shall be calculated in accordance with section 625.6 of title 20, Code of Federal Regulations, or any successor thereto, and shall be increased by the amount of Federal Pandemic Unemployment Compensation under section 9023 of this title . Any assistance provided for in accordance with paragraph (1)(A)(ii) shall be payable either— as an amount which is paid at the same time and in the same manner as the assistance provided for in paragraph (1)(A)(i) is payable for the week involved; or at the option of the State, by payments which are made separately from, but on the same weekly basis as, any assistance provided for in paragraph (1)(A)(i). In the case of individuals who have received amounts of pandemic unemployment assistance to which they were not entitled, the State shall require such individuals to repay the amounts of such pandemic unemployment assistance to the State agency, except that the State agency may waive such repayment if it determines that— the payment of such pandemic unemployment assistance was without fault on the part of any such individual; and such repayment would be contrary to equity and good conscience.

(e) Waiver of State requirement Notwithstanding State law, for purposes of assistance authorized under this section, compensation under this Act shall be made to an individual otherwise eligible for such compensation without any waiting period.

(f) Agreements with States The Secretary shall provide the assistance authorized under subsection (b) through agreements with States which, in the judgment of the Secretary, have an adequate system for administering such assistance through existing State agencies, including procedures for identity verification or validation and for timely payment, to the extent reasonable and practicable. There shall be paid to each State which has entered into an agreement under this subsection an amount equal to 100 percent of— the total amount of assistance provided by the State pursuant to such agreement; and any additional administrative expenses incurred by the State by reason of such agreement (as determined by the Secretary), including any administrative expenses necessary to facilitate processing of applications for assistance under this section online or by telephone rather than in-person and expenses related to identity verification or validation and timely and accurate payment. Sums payable to any State by reason of such State’s having an agreement under this subsection shall be payable, either in advance or by way of reimbursement (as determined by the Secretary), in such amounts as the Secretary estimates the State will be entitled to receive under this subsection for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that his estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved.

(g) Funding Funds in the extended unemployment compensation account (as established by section 1105(a) of title 42 ) of the Unemployment Trust Fund (as established by section 1104(a) of title 42 ) shall be used to make payments to States pursuant to subsection (f)(2)(A). Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the extended unemployment compensation account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. Funds in the employment security administration account (as established by section 1101(a) of title 42 ) of the Unemployment Trust Fund (as established by section 1104(a) of title 42 ) shall be used to make payments to States pursuant to subsection (f)(2)(B). Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the employment security administration account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. The Secretary of Labor shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under paragraphs (1) and (2).

(h) Relationship between pandemic unemployment assistance and disaster unemployment assistance Except as otherwise provided in this section or to the extent there is a conflict between this section and part 625 of title 20, Code of Federal Regulations, such part 625 shall apply to this section as if— the term “COVID–19 public health emergency” were substituted for the term “major disaster” each place it appears in such part 625; and the term “pandemic” were substituted for the term “disaster” each place it appears in such part 625.

§ 9022 Flexibility in paying reimbursement

The Secretary of Labor may issue clarifying guidance to allow States to interpret their State unemployment compensation laws in a manner that would provide maximum flexibility to reimbursing employers as it relates to timely payment and assessment of penalties and interest pursuant to such State laws. ( Pub. L. 116–136, div. A, title II, § 2103(a) , Mar. 27, 2020 , 134 Stat. 317 .)

§ 9023 Emergency increase in unemployment compensation benefits

(b) Provisions of agreement Any agreement under this section shall provide that the State agency of the State will make payments of regular compensation to individuals in amounts and to the extent that they would be determined if the State law of the State were applied, with respect to any week for which the individual is (disregarding this section) otherwise entitled under the State law to receive regular compensation, as if such State law had been modified in a manner such that the amount of regular compensation (including dependents’ allowances) payable for any week shall be equal to— the amount determined under the State law (before the application of this paragraph), plus an additional amount equal to the amount specified in paragraph (3) (in this section referred to as “Federal Pandemic Unemployment Compensation”), plus an additional amount of $100 (in t hi ssec t i o n re f erre d t o a s “ M i x e d E a r n er U n e m pl oy m e n tC o m p e n s a t i o n ”) inan yc a se in w hi c h t h e in d i v i d u a l rece i v e d a tl e a s t$ 5,000 of self-employment income (as defined in section 1402(b) of title 26 ) in the most recent taxable year ending prior to the individual’s application for regular compensation. Any Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation provided for in accordance with paragraph (1) shall be payable either— as an amount which is paid at the same time and in the same manner as any regular compensation otherwise payable for the week involved; or at the option of the State, by payments which are made separately from, but on the same weekly basis as, any regular compensation otherwise payable. The amount specified in this paragraph is the following amount: For weeks of unemployment beginning after the date on which an agreement is entered into under this section and ending on or before July 31, 2020 , $600. F or w ee k so f u n e m pl oy m e n t b e g innin g a f t erDece mb er 26, 2020 (or, i f l a t er, t h e d a t eo n w hi c h s u c ha g ree m e n t i se n t ere d in t o), an d e n d in g o n or b e f ore S e pt e mb er 6, 2021,$ 300. An agreement under this section shall include a requirement, similar to the requirement under section 9021(a)(3)(A)(iii) of this title , for the substantiation of self-employment income with respect to each applicant for Mixed Earner Unemployment Compensation under paragraph (1)(C).

(c) Nonreduction rule An agreement under this section shall not apply (or shall cease to apply) with respect to a State upon a determination by the Secretary that the method governing the computation of regular compensation under the State law of that State has been modified in a manner such that the number of weeks (the maximum benefit entitlement), or the average weekly benefit amount, of regular compensation which will be payable during the period of the agreement (determined disregarding any Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation) will be less than the number of weeks, or the average weekly benefit amount, of the average weekly benefit amount of regular compensation which would otherwise have been payable during such period under the State law, as in effect on January 1, 2020 . In paragraph (1), the term “maximum benefit entitlement” means the amount of regular unemployment compensation payable to an individual with respect to the individual’s benefit year.

(d) Payments to States There shall be paid to each State which has entered into an agreement under this section an amount equal to 100 percent of— the total amount of Federal Pandemic Unemployment Compensation and Mixed Earner Unemployment Compensation paid to individuals by the State pursuant to such agreement; and any additional administrative expenses incurred by the State by reason of such agreement (as determined by the Secretary). Sums payable to any State by reason of such State’s having an agreement under this section shall be payable, either in advance or by way of reimbursement (as determined by the Secretary), in such amounts as the Secretary estimates the State will be entitled to receive under this section for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that his estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved. The Secretary shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under this section. There are appropriated from the general fund of the Treasury, without fiscal year limitation, such sums as may be necessary for purposes of this subsection.

(e) Applicability An agreement entered into under this section shall apply— to weeks of unemployment beginning after the date on which such agreement is entered into and ending on or before July 31, 2020 ; and to weeks of unemployment beginning after December 26, 2020 (or, if later, the date on which such agreement is entered into), and ending on or before September 6, 2021 .

(f) Fraud and overpayments If an individual knowingly has made, or caused to be made by another, a false statement or representation of a material fact, or knowingly has failed, or caused another to fail, to disclose a material fact, and as a result of such false statement or representation or of such nondisclosure such individual has received an amount of Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation to which such individual was not entitled, such individual— shall be ineligible for further Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation in accordance with the provisions of the applicable State unemployment compensation law relating to fraud in connection with a claim for unemployment compensation; and shall be subject to prosecution under section 1001 of title 18 . In the case of individuals who have received amounts of Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation to which they were not entitled, the State shall require such individuals to repay the amounts of such Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation to the State agency, except that the State agency may waive such repayment if it determines that— the payment of such Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation was without fault on the part of any such individual; and such repayment would be contrary to equity and good conscience. The State agency shall recover the amount to be repaid, or any part thereof, by deductions from any Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation payable to such individual or from any unemployment compensation payable to such individual under any State or Federal unemployment compensation law administered by the State agency or under any other State or Federal law administered by the State agency which provides for the payment of any assistance or allowance with respect to any week of unemployment, during the 3-year period after the date such individuals received the payment of the Federal Pandemic Unemployment Compensation or Mixed Earner Unemployment Compensation to which they were not entitled, in accordance with the same procedures as apply to the recovery of overpayments of regular unemployment benefits paid by the State. No repayment shall be required, and no deduction shall be made, until a determination has been made, notice thereof and an opportunity for a fair hearing has been given to the individual, and the determination has become final. Any determination by a State agency under this section shall be subject to review in the same manner and to the same extent as determinations under the State unemployment compensation law, and only in that manner and to that extent.

(g) Application to other unemployment benefits Each agreement under this section shall include provisions to provide that— the purposes of the preceding provisions of this section, as such provisions apply with respect to Federal Pandemic Unemployment Compensation, shall be applied with respect to unemployment benefits described in subsection (i)(2) to the same extent and in the same manner as if those benefits were regular compensation; and the purposes of the preceding provisions of this section, as such provisions apply with respect to Mixed Earner Unemployment Compensation, shall be applied with respect to unemployment benefits described in subparagraph (A), (B), (D), or (E) of subsection (i)(2) to the same extent and in the same manner as if those benefits were regular compensation.

(h) Disregard of additional compensation for purposes of Medicaid and CHIP The monthly equivalent of any Federal pandemic unemployment compensation paid to an individual under this section shall be disregarded when determining income for any purpose under the programs established under titles XIX and title XXI 2 of the Social Security Act ( 42 U.S.C. 1396 et seq., 1397aa et seq.).

(i) Definitions For purposes of this section— the terms “compensation”, “regular compensation”, “benefit year”, “State”, “State agency”, “State law”, and “week” have the respective meanings given such terms under section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note); and any reference to unemployment benefits described in this paragraph shall be considered to refer to— extended compensation (as defined by section 205 of the Federal-State Extended Unemployment Compensation Act of 1970); regular compensation (as defined by section 85(b) of title 26 ) provided under any program administered by a State under an agreement with the Secretary; pandemic unemployment assistance under section 9021 of this title ; pandemic emergency unemployment compensation under section 9025 of this title ; and short-time compensation under a short-time compensation program (as defined in section 3306(v) of title 26 ).

§ 9024 Temporary full Federal funding of the first week of compensable regular unemployment for States with no waiting week

(b) Requirement that State law does not apply a waiting week A State is eligible to enter into an agreement under this section if the State law (including a waiver of State law) provides that compensation is paid to individuals for their first week of regular unemployment without a waiting week. An agreement under this section shall not apply (or shall cease to apply) with respect to a State upon a determination by the Secretary that the State law no longer meets the requirement under the preceding sentence.

(c) Payments to States Except as provided in paragraph (3), there shall be paid to each State which has entered into an agreement under this section an amount equal to 100 percent of— the total amount of regular compensation paid to individuals by the State for their first week of regular unemployment; and any additional administrative expenses incurred by the State by reason of such agreement (as determined by the Secretary). Sums payable to any State by reason of such State’s having an agreement under this section shall be payable, either in advance or by way of reimbursement (as determined by the Secretary), in such amounts as the Secretary estimates the State will be entitled to receive under this section for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that his estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved.

(d) Funding Funds in the Federal unemployment account (as established by section 905(g)) 1 of the Unemployment Trust Fund (as established by section 904(a)) 1 shall be used to make payments under subsection (c)(1)(A). Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the Federal unemployment account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. Funds in the employment security administration account (as established by section 1101(a) of title 42 ) of the Unemployment Trust Fund (as established by section 1104(a) of title 42 ) shall be used to make payments to States pursuant to subsection (c)(1)(B). Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the employment security administration account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. The Secretary shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under this section.

(e) Applicability An agreement entered into under this section shall apply to weeks of unemployment— beginning after the date on which such agreement is entered into; and ending on or before September 6, 2021 .

(f) Fraud and overpayments The provisions of section 9025(e) of this title shall apply with respect to compensation paid under an agreement under this section to the same extent and in the same manner as in the case of pandemic emergency unemployment compensation under such section.

(g) Definitions For purposes of this section, the terms “regular compensation”, “State”, “State agency”, “State law”, and “week” have the respective meanings given such terms under section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note).

§ 9025 Pandemic emergency unemployment compensation

(a) Federal-State agreements Any State which desires to do so may enter into and participate in an agreement under this section with the Secretary of Labor (in this section referred to as the “Secretary”). Any State which is a party to an agreement under this section may, upon providing 30 days’ written notice to the Secretary, terminate such agreement. Any agreement under paragraph (1) shall provide that the State agency of the State will make payments of pandemic emergency unemployment compensation to individuals who— have exhausted all rights to regular compensation under the State law or under Federal law with respect to a benefit year (excluding any benefit year that ended before July 1, 2019 ); have no rights to regular compensation with respect to a week under such law or any other State unemployment compensation law or to compensation under any other Federal law; are not receiving compensation with respect to such week under the unemployment compensation law of Canada; and are able to work, available to work, and actively seeking work. For purposes of paragraph (2)(A), an individual shall be deemed to have exhausted such individual’s rights to regular compensation under a State law when— no payments of regular compensation can be made under such law because such individual has received all regular compensation available to such individual based on employment or wages during such individual’s base period; or such individual’s rights to such compensation have been terminated by reason of the expiration of the benefit year with respect to which such rights existed. For purposes of any agreement under this section— the amount of pandemic emergency unemployment compensation which shall be payable to any individual for any week of total unemployment shall be equal to— the amount of the regular compensation (including dependents’ allowances) payable to such individual during such individual’s benefit year under the State law for a week of total unemployment; the amount of Federal Pandemic Unemployment Compensation under section 9023(b)(1)(B) of this title ; and the amount (if any) of Mixed Earner Unemployment Compensation under section 9023(b)(1)(C) of this title ; the terms and conditions of the State law which apply to claims for regular compensation and to the payment thereof (including terms and conditions relating to availability for work, active search for work, and refusal to accept work) shall apply to claims for pandemic emergency unemployment compensation and the payment thereof, except where otherwise inconsistent with the provisions of this section or with the regulations or operating instructions of the Secretary promulgated to carry out this section; the maximum amount of pandemic emergency unemployment compensation payable to any individual for whom an 1 pandemic emergency unemployment compensation account is established under subsection (b) shall not exceed the amount established in such account for such individual; and the allowable methods of payment under section 9023(b)(2) of this title shall apply to payments of amounts described in subparagraph (A)(ii). Subject to subparagraph (B), an agreement under this section shall apply with respect to a State only upon a determination by the Secretary that, under the State law or other applicable rules of such State, the payment of extended compensation for which an individual is otherwise eligible must be deferred until after the payment of any pandemic emergency unemployment compensation under subsection (b) for which the individual is concurrently eligible. In the case of an individual who is receiving extended compensation under the State law for the week that includes December 27, 2020 (without regard to the amendments made by subsections (a) and (b) of section 206 of the Continued Assistance for Unemployed Workers Act of 2020) or for the week that includes March 11, 2021 (without regard to the amendments made by subsections (a) and (b) of section 9016 of the American Rescue Plan Act of 2021), such individual shall not be eligible to receive pandemic emergency unemployment compensation by reason of such amendments until such individual has exhausted all rights to such extended benefits. An agreement under this section shall not apply (or shall cease to apply) with respect to a State upon a determination by the Secretary that the method governing the computation of regular compensation under the State law of that State has been modified in a manner such that the number of weeks (the maximum benefit entitlement), or the average weekly benefit amount, of regular compensation which will be payable during the period of the agreement will be less than the number of weeks, or the average weekly benefit amount, of the average weekly benefit amount of regular compensation which would otherwise have been payable during such period under the State law, as in effect on January 1, 2020 . In subparagraph (A), the term “maximum benefit entitlement” means the amount of regular unemployment compensation payable to an individual with respect to the individual’s benefit year. Subject to subparagraph (C), 2 for purposes of paragraph (2)(D), the term “actively seeking work” means, with respect to any individual, that such individual— is registered for employment services in such a manner and to such extent as prescribed by the State agency; has engaged in an active search for employment that is appropriate in light of the employment available in the labor market, the individual’s skills and capabilities, and includes a number of employer contacts that is consistent with the standards communicated to the individual by the State; has maintained a record of such work search, including employers contacted, method of contact, and date contacted; and when requested, has provided such work search record to the State agency. Notwithstanding the requirements under subparagraph (A) and paragraph (2)(D), a State shall provide flexibility in meeting such requirements in case of individuals unable to search for work because of COVID–19, including because of illness, quarantine, or movement restriction. At the option of a State, for any weeks of unemployment beginning after December 27, 2020 , and before September 6, 2021 , an individual’s eligibility period (as described in section 203(c) of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note)) shall, for purposes of any determination of eligibility for extended compensation under the State law of such State, be considered to include any week which begins— after the date as of which such individual exhausts all rights to pandemic emergency unemployment compensation; and during an extended benefit period that began on or before the date described in subparagraph (A).

(b) Pandemic emergency unemployment compensation account Any agreement under this section shall provide that the State will establish, for each eligible individual who files an application for pandemic emergency unemployment compensation, an 1 pandemic emergency unemployment compensation account with respect to such individual’s benefit year. The amount established in an account under subsection (a) shall be equal to 53 times the individual’s average weekly benefit amount, which includes the amount of Federal Pandemic Unemployment Compensation under section 9023 of this title , for the benefit year. For purposes of this subsection, an individual’s weekly benefit amount for any week is the amount of regular compensation (including dependents’ allowances) under the State law payable to such individual for such week for total unemployment plus the amount of Federal Pandemic Unemployment Compensation under section 9023 of this title . If— an individual has been determined to be entitled to pandemic emergency unemployment compensation with respect to a benefit year; that benefit year has expired; that individual has remaining entitlement to pandemic emergency unemployment compensation with respect to that benefit year; and that individual would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least $25 less than the individual’s weekly benefit amount in the benefit year referred to in clause (i), then the State shall determine eligibility for compensation as provided in subparagraph (B). For individuals described in subparagraph (A), the State shall determine whether the individual is to be paid pandemic emergency unemployment compensation or regular compensation for a week of unemployment using one of the following methods: The State shall, if permitted by State law, establish a new benefit year, but defer the payment of regular compensation with respect to that new benefit year until exhaustion of all pandemic emergency unemployment compensation payable with respect to the benefit year referred to in subparagraph (A)(i). The State shall, if permitted by State law, defer the establishment of a new benefit year (which uses all the wages and employment which would have been used to establish a benefit year but for the application of this subparagraph), until exhaustion of all pandemic emergency unemployment compensation payable with respect to the benefit year referred to in subparagraph (A)(i). The State shall pay, if permitted by State law— regular compensation equal to the weekly benefit amount established under the new benefit year; and pandemic emergency unemployment compensation equal to the difference between that weekly benefit amount and the weekly benefit amount for the expired benefit year. The State shall determine rights to pandemic emergency unemployment compensation without regard to any rights to regular compensation if the individual elects to not file a claim for regular compensation under the new benefit year.

(c) Payments to States having agreements for the payment of pandemic emergency unemployment compensation There shall be paid to each State that has entered into an agreement under this section an amount equal to 100 percent of the pandemic emergency unemployment compensation paid to individuals by the State pursuant to such agreement. No payment shall be made to any State under this section in respect of any compensation to the extent the State is entitled to reimbursement in respect of such compensation under the provisions of any Federal law other than this section or chapter 85 of title 5. A State shall not be entitled to any reimbursement under such chapter 85 in respect of any compensation to the extent the State is entitled to reimbursement under this section in respect of such compensation. Sums payable to any State by reason of such State having an agreement under this section shall be payable, either in advance or by way of reimbursement (as may be determined by the Secretary), in such amounts as the Secretary estimates the State will be entitled to receive under this section for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that the Secretary’s estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved.

(d) Financing provisions Funds in the extended unemployment compensation account (as established by section 905(a) of the Social Security Act ( 42 U.S.C. 1105(a) ) of the Unemployment Trust Fund (as established by section 904(a) of such Act ( 42 U.S.C. 1104(a) ) shall be used for the making of payments to States having agreements entered into under this section. Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the extended unemployment compensation account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. There are appropriated out of the employment security administration account (as established by section 901(a) of the Social Security Act ( 42 U.S.C. 1101(a) ) 3 of the Unemployment Trust Fund, without fiscal year limitation, such funds as may be necessary for purposes of assisting States (as provided in title III of the Social Security Act ( 42 U.S.C. 501 et seq.)) in meeting the costs of administration of agreements under this section. Notwithstanding any other provision of law, the Secretary of the Treasury shall transfer from the general fund of the Treasury (from funds not otherwise appropriated) to the employment security administration account such sums as the Secretary of Labor estimates to be necessary to make payments described in subparagraph (A). There are appropriated from the general fund of the Treasury, without fiscal year limitation, the sums referred to in the preceding sentence and such sums shall not be required to be repaid. The Secretary shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under this subsection. The Secretary of the Treasury, prior to audit or settlement by the Government Accountability Office, shall make payments to the State in accordance with such certification, by transfers from the extended unemployment compensation account (as so established) to the account of such State in the Unemployment Trust Fund (as so established).

(e) Fraud and overpayments If an individual knowingly has made, or caused to be made by another, a false statement or representation of a material fact, or knowingly has failed, or caused another to fail, to disclose a material fact, and as a result of such false statement or representation or of such nondisclosure such individual has received an amount of pandemic emergency unemployment compensation under this section to which such individual was not entitled, such individual— shall be ineligible for further pandemic emergency unemployment compensation under this section in accordance with the provisions of the applicable State unemployment compensation law relating to fraud in connection with a claim for unemployment compensation; and shall be subject to prosecution under section 1001 of title 18 . In the case of individuals who have received amounts of pandemic emergency unemployment compensation under this section to which they were not entitled, the State shall require such individuals to repay the amounts of such pandemic emergency unemployment compensation to the State agency, except that the State agency may waive such repayment if it determines that— the payment of such pandemic emergency unemployment compensation was without fault on the part of any such individual; and such repayment would be contrary to equity and good conscience. The State agency shall recover the amount to be repaid, or any part thereof, by deductions from any pandemic emergency unemployment compensation payable to such individual under this section or from any unemployment compensation payable to such individual under any State or Federal unemployment compensation law administered by the State agency or under any other State or Federal law administered by the State agency which provides for the payment of any assistance or allowance with respect to any week of unemployment, during the 3-year period after the date such individuals received the payment of the pandemic emergency unemployment compensation to which they were not entitled, in accordance with the same procedures as apply to the recovery of overpayments of regular unemployment benefits paid by the State. No repayment shall be required, and no deduction shall be made, until a determination has been made, notice thereof and an opportunity for a fair hearing has been given to the individual, and the determination has become final. Any determination by a State agency under this section shall be subject to review in the same manner and to the same extent as determinations under the State unemployment compensation law, and only in that manner and to that extent.

(f) Definitions In this section, the terms “compensation”, “regular compensation”, “extended compensation”, “benefit year”, “base period”, “State”, “State agency”, “State law”, and “week” have the respective meanings given such terms under section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note).

(g) Applicability An agreement entered into under this section shall apply to weeks of unemployment— beginning after the date on which such agreement is entered into; and ending on or before September 6, 2021 .

§ 9026 Temporary financing of short-time compensation payments in States with programs in law

(a) Payments to States Subject to paragraph (3), there shall be paid to a State an amount equal to 100 percent of the amount of short-time compensation paid under a short-time compensation program (as defined in section 3306(v) of title 26 ) under the provisions of the State law. Payments made to a State under paragraph (1) shall be payable by way of reimbursement in such amounts as the Secretary estimates the State will be entitled to receive under this section for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that the Secretary’s estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved. No payments shall be made to a State under this section for short-time compensation paid to an individual by the State during a benefit year in excess of 26 times the amount of regular compensation (including dependents’ allowances) under the State law payable to such individual for a week of total unemployment. No payments shall be made to a State under this section for benefits paid to an individual by the State under a short-time compensation program if such individual is employed by the participating employer on a seasonal, temporary, or intermittent basis.

(b) Applicability Payments to a State under subsection (a) shall be available for weeks of unemployment— beginning on or after March 27, 2020 ; and ending on or before September 6, 2021 .

(c) New programs Subject to subsection (b)(2), if at any point after March 27, 2020 , the State enacts a State law providing for the payment of short-time compensation under a short-time compensation program that meets the definition of such a program under section 3306(v) of title 26 , the State shall be eligible for payments under this section after the effective date of such enactment.

(d) Funding and certifications There are appropriated, out of moneys in the Treasury not otherwise appropriated, such sums as may be necessary for purposes of carrying out this section. The Secretary shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under this section.

(e) Definitions In this section: The term “Secretary” means the Secretary of Labor. The terms “State”, “State agency”, and “State law” have the meanings given those terms in section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note).

§ 9027 Temporary financing of short-time compensation agreements

(a) Federal-State agreements Any State which desires to do so may enter into, and participate in, an agreement under this section with the Secretary provided that such State’s law does not provide for the payment of short-time compensation under a short-time compensation program (as defined in section 3306(v) of title 26 ). Any State which is a party to an agreement under this section may, upon providing 30 days’ written notice to the Secretary, terminate such agreement.

(b) Provisions of Federal-State agreement Any agreement under this section shall provide that the State agency of the State will make payments of short-time compensation under a plan approved by the State. Such plan shall provide that payments are made in accordance with the requirements under section 3306(v) of title 26 . A short-time compensation plan approved by a State shall not permit the payment of short-time compensation to an individual by the State during a benefit year in excess of 26 times the amount of regular compensation (including dependents’ allowances) under the State law payable to such individual for a week of total unemployment. A short-time compensation plan approved by a State shall not provide payments to an individual if such individual is employed by the participating employer on a seasonal, temporary, or intermittent basis. Any short-time compensation plan entered into by an employer must provide that the employer will pay the State an amount equal to one-half of the amount of short-time compensation paid under such plan. Such amount shall be deposited in the State’s unemployment fund and shall not be used for purposes of calculating an employer’s contribution rate under section 3303(a)(1) of title 26 .

(c) Payments to States There shall be paid to each State with an agreement under this section an amount equal to— one-half of the amount of short-time compensation paid to individuals by the State pursuant to such agreement; and any additional administrative expenses incurred by the State by reason of such agreement (as determined by the Secretary). Payments made to a State under paragraph (1) shall be payable by way of reimbursement in such amounts as the Secretary estimates the State will be entitled to receive under this section for each calendar month, reduced or increased, as the case may be, by any amount by which the Secretary finds that the Secretary’s estimates for any prior calendar month were greater or less than the amounts which should have been paid to the State. Such estimates may be made on the basis of such statistical, sampling, or other method as may be agreed upon by the Secretary and the State agency of the State involved. There are appropriated, out of moneys in the Treasury not otherwise appropriated, such sums as may be necessary for purposes of carrying out this section. The Secretary shall from time to time certify to the Secretary of the Treasury for payment to each State the sums payable to such State under this section.

(d) Applicability An agreement entered into under this section shall apply to weeks of unemployment— beginning on or after the date on which such agreement is entered into; and ending on or before September 6, 2021 .

(e) Special rule If a State has entered into an agreement under this section and subsequently enacts a State law providing for the payment of short-time compensation under a short-time compensation program that meets the definition of such a program under section 3306(v) of title 26 , the State— shall not be eligible for payments under this section for weeks of unemployment beginning after the effective date of such State law; and subject to section 9026(b)(2) of this title , shall be eligible to receive payments under section 9026 of this title after the effective date of such State law.

(f) Definitions In this section: The term “Secretary” means the Secretary of Labor. The terms “State”, “State agency”, and “State law” have the meanings given those terms in section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note).

§ 9028 Grants for short-time compensation programs

(a) Grants The Secretary shall award grants to States that enact short-time compensation programs (as defined in subsection (i)(2)) for the purpose of implementation or improved administration of such programs. The Secretary shall award grants to States that are eligible and submit plans for a grant under paragraph (1) for such States to promote and enroll employers in short-time compensation programs (as so defined). The Secretary shall determine eligibility criteria for the grants under paragraphs (1) and (2). A State administering a short-time compensation program that does not meet the definition of a short-time compensation program under section 3306(v) of title 26 , and a State with an agreement under section 9027 of this title , shall not be eligible to receive a grant under this section until such time as the State law of the State provides for payments under a short-time compensation program that meets such definition and such law.

(b) Amount of grants The maximum amount available for making grants to a State under paragraphs (1) and (2) shall be equal to the amount obtained by multiplying $100,000,000 (less the amount used by the Secretary under subsection (e)) by the same ratio as would apply under subsection (a)(2)(B) of section 1103 of title 42 for purposes of determining such State’s share of any excess amount (as described in subsection (a)(1) of such section) that would have been subject to transfer to State accounts, as of October 1, 2019 , under the provisions of subsection (a) of such section. Of the maximum incentive payment determined under paragraph (1) with respect to a State— one-third shall be available for a grant under subsection (a)(1); and two-thirds shall be available for a grant under subsection (a)(2).

(c) Grant application and disbursal Any State seeking a grant under paragraph (1) or (2) of subsection (a) shall submit an application to the Secretary at such time, in such manner, and complete with such information as the Secretary may require. In no case may the Secretary award a grant under this section with respect to an application that is submitted after December 31, 2023 . The Secretary shall, within 30 days after receiving a complete application, notify the State agency of the State of the Secretary’s findings with respect to the requirements for a grant under paragraph (1) or (2) (or both) of subsection (a). If the Secretary finds that the State law provisions meet the requirements for a grant under subsection (a), the Secretary shall thereupon make a certification to that effect to the Secretary of the Treasury, together with a certification as to the amount of the grant payment to be transferred to the State account in the Unemployment Trust Fund (as established in section 1104(a) of title 42 ) pursuant to that finding. The Secretary of the Treasury shall make the appropriate transfer to the State account within 7 days after receiving such certification. No certification of compliance with the requirements for a grant under paragraph (1) or (2) of subsection (a) may be made with respect to any State whose— State law is not otherwise eligible for certification under section 503 of title 42 or approvable under section 3304 of title 26 ; or short-time compensation program is subject to discontinuation or is not scheduled to take effect within 12 months of the certification.

(d) Use of funds The amount of any grant awarded under this section shall be used for the implementation of short-time compensation programs and the overall administration of such programs and the promotion and enrollment efforts associated with such programs, such as through— the creation or support of rapid response teams to advise employers about alternatives to layoffs; the provision of education or assistance to employers to enable them to assess the feasibility of participating in short-time compensation programs; and the development or enhancement of systems to automate— the submission and approval of plans; and the filing and approval of new and ongoing short-time compensation claims.

(e) Administration The Secretary is authorized to use 0.25 percent of the funds available under subsection (g) to provide for outreach and to share best practices with respect to this section and short-time compensation programs.

(f) Recoupment The Secretary shall establish a process under which the Secretary shall recoup the amount of any grant awarded under paragraph (1) or (2) of subsection (a) if the Secretary determines that, during the 5-year period beginning on the first date that any such grant is awarded to the State, the State— terminated the State’s short-time compensation program; or failed to meet appropriate requirements with respect to such program (as established by the Secretary).

(g) Funding There are appropriated, out of moneys in the Treasury not otherwise appropriated, to the Secretary, $100,000,000 to carry out this section, to remain available without fiscal year limitation.

(h) Reporting The Secretary may establish reporting requirements for States receiving a grant under this section in order to provide oversight of grant funds.

(i) Definitions In this section: The term “Secretary” means the Secretary of Labor. The term “short-time compensation program” has the meaning given such term in section 3306(v) of title 26 . The terms “State”, “State agency”, and “State law” have the meanings given those terms in section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 ( 26 U.S.C. 3304 note).

§ 9029 Assistance and guidance in implementing programs

(a) In general In order to assist States in establishing, qualifying, and implementing short-time compensation programs (as defined in section 3306(v) of title 26 ), the Secretary of Labor (in this section referred to as the “Secretary”) shall— develop model legislative language, or disseminate existing model legislative language, which may be used by States in developing and enacting such programs, and periodically review and revise such model legislative language; provide technical assistance and guidance in developing, enacting, and implementing such programs; and establish reporting requirements for States, including reporting on— the number of estimated averted layoffs; the number of participating employers and workers; and such other items as the Secretary of Labor determines are appropriate.

(b) Model language and guidance The model language and guidance developed under subsection (a) shall allow sufficient flexibility by States and participating employers while ensuring accountability and program integrity.

(c) Consultation In developing the model legislative language and guidance under subsection (a), and in order to meet the requirements of subsection (b), the Secretary shall consult with employers, labor organizations, State workforce agencies, and other program experts. Existing model legislative language that has been developed through such a consultative process shall be deemed to meet the consultation requirement of this subsection.

§ 9030 Waiver of the 7-day waiting period for benefits under the Railroad Unemployment Insurance Act

(a) No waiting week With respect to any registration period beginning after March 27, 2020 , and ending on or before September 6, 2021 , subparagraphs (A)(ii) and (B)(ii) of section 2(a)(1) of the Railroad Unemployment Insurance Act ( 45 U.S.C. 352(a)(1) ) shall not apply.

(b) Operating instructions and regulations The Railroad Retirement Board may prescribe any operating instructions or regulations necessary to carry out this section.

(c) Funding Out of any funds in the Treasury not otherwise appropriated, there are appropriated $50,000,000 to cover the costs of additional benefits payable due to the application of subsection (a). Upon the exhaustion of the funds appropriated under this subsection, subsection (a) shall no longer apply with respect to any registration period beginning after the date of exhaustion of funds.

(d) Definition of registration period For purposes of this section, the term “registration period” has the meaning given such term under section 1 of the Railroad Unemployment Insurance Act ( 45 U.S.C. 351 ).

§ 9031 Funding for the DOL Office of Inspector General for oversight of unemployment provisions

There are appropriated, out of moneys in the Treasury not otherwise appropriated, to the Office of the Inspector General of the Department of Labor, $25,000,000 to carry out audits, investigations, and other oversight activities authorized under the Inspector General Act of 1978 (5 U.S.C. App.) 1 that are related to the provisions of, and amendments made by, this subtitle, to remain available without fiscal year limitation. ( Pub. L. 116–136, div. A, title II, § 2115 , Mar. 27, 2020 , 134 Stat. 334 .)

§ 9032 Implementation

(a) Non-application of the Paperwork Reduction Act Chapter 35 of title 44 (commonly referred to as the “Paperwork Reduction Act of 1995”), 1 shall not apply to the provisions of, and the amendments made by, this subtitle.

(b) Operating instructions or other guidance Notwithstanding any other provision of law, the Secretary of Labor may issue any operating instructions or other guidance necessary to carry out the provisions of, or the amendments made by, this subtitle.

§ 9033 Return to work reporting

Each State participating in an agreement under any of the preceding sections of this subtitle shall have in effect a method to address any circumstances in which, during any period during which such agreement is in effect, claimants of unemployment compensation refuse to return to work or to accept an offer of suitable work without good cause. Such method shall include the following: A reporting method for employers, such as through a phone line, email, or online portal, to notify the State agency when an individual refuses an offer of employment. A plain-language notice provided to such claimants about State return to work laws, rights to refuse to return to work or to refuse suitable work, including what constitutes suitable work, and a claimant’s right to refuse work that poses a risk to the claimant’s health or safety, and information on contesting the denial of a claim that has been denied due to a report by an employer that the claimant refused to return to work or refused suitable work. ( Pub. L. 116–136, div. A, title II, § 2117 , as added Pub. L. 116–260, div. N, title II, § 251(a) , Dec. 27, 2020 , 134 Stat. 1961 .)

§ 9034 Funding for fraud prevention, equitable access, and timely payment to eligible workers

(a) In general In addition to amounts otherwise available, there is appropriated to the Secretary of Labor for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $2,000,000,000, to remain available until expended, to detect and prevent fraud, promote equitable access, and ensure the timely payment of benefits with respect to unemployment compensation programs, including programs extended under subtitle A of title IX of the American Rescue Plan Act of 2021.

(b) Use of funds Amounts made available under subsection (a) may be used— for Federal administrative costs related to the purposes described in subsection (a); for systemwide infrastructure investment and development related to such purposes; and to make grants to States or territories administering unemployment compensation programs described in subsection (a) (including territories administering the Pandemic Unemployment Assistance program under section 9021 of this title ) for such purposes, including the establishment of procedures or the building of infrastructure to verify or validate identity, implement Federal guidance regarding fraud detection and prevention, and accelerate claims processing or process claims backlogs due to the pandemic.

(c) Restrictions on grants to States and territories As a condition of receiving a grant under subsection (b)(3), the Secretary may require that a State or territory receiving such a grant shall— use such program integrity tools as the Secretary may specify; and as directed by the Secretary, conduct user accessibility testing on any new system developed by the Secretary pursuant to subsection (b)(2).

§ 9041 Definitions

In this part: The term “air carrier” has the meaning such term has under section 40102 of title 49 . The term “coronavirus” means SARS–CoV–2 or another coronavirus with pandemic potential. The term “covered loss” includes losses incurred directly or indirectly as a result of coronavirus, as determined by the Secretary. The term “eligible business” means— an air carrier; or a United States business that has not otherwise received adequate economic relief in the form of loans or loan guarantees provided under this Act. Except where the context otherwise requires, the term “employee”— has the meaning given the term in section 152 of title 29 ; and includes any individual employed by an employer subject to the Railway Labor Act ( 45 U.S.C. 151 et seq.). The terms “equity security” and “exchange” have the meanings given the terms in section 78c(a) of this title . The term “municipality” includes— a political subdivision of a State, and an instrumentality of a municipality, a State, or a political subdivision of a State. The term “national securities exchange” means an exchange registered as a national securities exchange under section 78f of this title . The term “Secretary” means the Secretary of the Treasury, or the designee of the Secretary of the Treasury. The term “State” means— any of the several States; the District of Columbia; any of the territories and possessions of the United States; any bi-State or multi-State entity; and any Indian Tribe. The term “businesses critical to maintaining national security” means those businesses that manufacture or produce aerospace-related products, civil or defense, including those that design, integrate, assemble, supply, maintain, and repair such products, and other businesses involved in aerospace-related manufacturing or production as further defined by the Secretary, in consultation with the Secretary of Defense and the Secretary of Transportation. For purposes of the preceding sentence, aerospace-related products include, but are not limited to, components, parts, or systems of aircraft, aircraft engines, or appliances for inclusion in an aircraft, aircraft engine, or appliance. ( Pub. L. 116–136, div. A, title IV, § 4002 , Mar. 27, 2020 , 134 Stat. 469 ; Pub. L. 116–260, div. N, title IV, § 412(c) , Dec. 27, 2020 , 134 Stat. 2061 .)

§ 9042 Emergency relief and taxpayer protections

(a) In general Notwithstanding any other provision 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 $0 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.).

(b) Loans, loan guarantees, and other investments Loans, loan guarantees, and other investments made pursuant to subsection (a) shall be made available as follows: Not more than $0 s ha ll b e a v ai l ab l e t o mak e l o an s an d l o an gu a r an t ees f or p a sse n g er ai rc a rr i ers, e l i g ib l e b u s in esses t ha t a recer t i f i e d u n d er p a r t 145 o f t i tl e 14, C o d eo f F e d er a lR e gu l a t i o n s, an d a pp ro v e d t o p er f or min s p ec t i o n, re p ai r, re pl a ce, oro v er ha u l ser v i ces, an d t i c k e t a g e n t s (a s d e f in e d in sec t i o n 40102 o f t i tl e 49) . N o t m ore t han 01 s ha ll b e a v ai l ab l e t o mak e l o an s an d l o an gu a r an t ees f orc a r g o ai rc a rr i ers . N o t m ore t han 01 s ha ll b e a v ai l ab l e t o mak e l o an s an d l o an gu a r an t ees f or b u s in essescr i t i c a lt o main t ainin g na t i o na l sec u r i t y . N o t m ore t han t h es u m o f$ 0 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 liquidity to the financial system that supports lending to eligible businesses, States, or municipalities by— purchasing obligations or other interests directly from issuers of such obligations or other interests; purchasing obligations or other interests in secondary markets or otherwise; or making loans, including loans or other advances secured by collateral.

(c) 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, warranties, and requirements (including requirements for audits) as the Secretary determines appropriate. 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 average yield on outstanding marketable obligations of the United States of comparable maturity. As soon as practicable, but in no case later than 10 days after March 27, 2020 , the Secretary shall publish procedures for application and minimum requirements, which may be supplemented by the Secretary in the Secretary’s discretion, for making loans, loan guarantees, or other investments under paragraphs (1), (2) and (3) of subsection (b) . The Secretary 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 discretion— the applicant is an eligible business for which credit is not reasonably available at the time of the transaction; the intended obligation by the applicant is prudently incurred; the loan or loan guarantee is sufficiently secured or is made at a rate that— reflects the risk of the loan or loan guarantee; and is to the extent practicable, not less than an interest rate based on market conditions for comparable obligations prevalent prior to the outbreak of the coronavirus disease 2019 (COVID–19); the duration of the loan or loan guarantee is as short as practicable and in any case not longer than 5 years; 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 eligible business or any parent company of the eligible business, except to the extent required under a contractual obligation in effect as of March 27, 2020 ; 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; the agreement provides that, until September 30, 2020 , the eligible business shall maintain 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; the agreement includes a certification by the eligible business that it is created or organized 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 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 jeopardized, as determined by the Secretary. In this paragraph, the term “direct loan” means a loan under a bilateral loan agreement that is — entered into directly with an eligible business as borrower; and not part of a syndicated loan, a loan originated by a financial institution in the ordinary course of business, or a securities or capital markets transaction. 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 businesses agree— 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 eligible business or any parent company of the eligible business while the direct loan is outstanding, except to the extent required under a contractual obligation that is in effect as of March 27, 2020 ; until the date 12 months after the date on which the direct loan is no longer outstanding, not to pay dividends or make other capital distributions with respect to the common stock of the eligible business; and to comply with the limitations on compensation set forth in section 9043 of this title . 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 Federal 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 Committee on Financial Services of the House of Representatives regarding the reasons for the waiver. For the avoidance of doubt, any applicable requirements under section 13(3) of the Federal Reserve Act ( 12 U.S.C. 343(3) ), including requirements relating to loan collateralization, taxpayer protection, and borrower solvency, shall apply with respect to any program or facility described in subsection (b)(4). A program 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 diversified 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. Without limiting the terms and conditions of the programs and facilities that the Secretary may otherwise provide financial assistance to under subsection (b)(4), the Secretary shall endeavor to seek the implementation of a program or facility described in subsection (b)(4) that provides financing to banks and other lenders that make direct loans to eligible businesses 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 program shall make a good-faith certification that— the uncertainty of economic conditions as of the date of the application makes necessary the loan request to support the ongoing operations of the recipient; the funds it receives will be used to retain at least 90 percent of the recipient’s workforce, at full compensation and benefits, until September 30, 2020 ; the recipient intends to restore 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 247d of title 42 in response to COVID–19; the recipient is an entity or business that is domiciled in the United States with significant operations and employees located in the United States; the recipient is not a debtor in a bankruptcy proceeding; the recipient is created or organized 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; the recipient will not pay dividends with respect to the common stock of the eligible business, or repurchase 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 required under a contractual obligation that is in effect as of March 27, 2020 ; the recipient will not outsource or offshore jobs for the term of the loan and 2 years after completing repayment of the loan; the recipient will not abrogate existing collective bargaining agreements for the term of the loan and 2 years after completing repayment of the loan; and that the recipient will remain neutral in any union organizing effort for the term of the loan. Nothing in this subparagraph shall limit the discretion of the Board of Governors of the Federal Reserve System to establish a Main Street Lending Program or other similar program or facility that supports lending to small and mid-sized businesses 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 subsection (b)(4). The Secretary shall endeavor to seek the implementation of a program or facility in accordance with subsection (b)(4) that provides liquidity to the financial system that supports lending to States and municipalities.

(d) Financial protection of government 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— the eligible business has issued securities that are traded on a national securities exchange; and the Secretary receives a warrant or equity interest in the eligible business; or in the case of any eligible business other than an eligible business described in subparagraph (A), the Secretary receives, in the discretion of the Secretary— a warrant or equity interest in the eligible business; or a senior debt instrument issued by the eligible business. 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 requirements: Such terms and conditions shall be designed to provide for a reasonable participation by the Secretary, for the benefit of taxpayers, 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 instrument. For the primary benefit of taxpayers, the Secretary may sell, exercise, or surrender 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. If the Secretary determines that the eligible business cannot feasibly issue warrants or other equity interests as required by this subsection, the Secretary may accept a senior debt instrument in an amount and on such terms as the Secretary deems appropriate. The principal amount of any obligation issued by an eligible business, State, or municipality under a program described in subsection (b) shall not be reduced through loan forgiveness.

(e) Deposit of proceeds Notwithstanding any other provision of law, amounts collected under subsection (b) shall be deposited in the following order of priority: Into the financing accounts established under section 505 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661d ) to implement this part, up to an amount equal to the sum of— the amount transferred from the appropriation made under section 9061 of this title to the financing accounts; and the amount necessary to repay any amount lent from the Treasury to such financing accounts. After the deposits specified in paragraph (1) of this subsection have been made, into the Federal Old-Age and Survivors Insurance Trust Fund established under section 401(a) of title 42 .

(f) Administrative provisions Notwithstanding any other provision of law, the Secretary may use not greater than 61,000,000 1 of the funds made available under section 9061 of this title to pay costs and administrative expenses associated 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 carry out the authorities in this part, including, without limitation— using direct hiring authority to hire employees to administer this part; entering into contracts, including contracts for services authorized by this part; establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase, hold, and sell assets and issue obligations; and issuing such regulations and other guidance as may be necessary or appropriate to carry out the authorities or purposes of this part.

(g) Financial agents The Secretary is authorized to designate financial institutions, including but not limited to, depositories, brokers, dealers, and other institutions, as financial agents of the United States. Such institutions shall— perform all reasonable duties the Secretary determines necessary to respond to the coronavirus; and be paid for such duties using appropriations available to the Secretary to reimburse financial institutions in their capacity as financial agents of the United States.

(h) Loans made by or guaranteed by the Department of the Treasury treated as indebtedness for tax purposes Any loan made by or guaranteed 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 interest on such loans shall be treated as qualified stated interest. The Secretary of the Treasury (or the Secretary’s delegate) shall prescribe such regulations or guidance as may be necessary 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 section 382 of the Internal Revenue Code of 1986 [ 26 U.S.C. 382 ].

§ 9043 Limitation on certain employee compensation

(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 9042(b) of this title if such agreement provides that, during the period 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 outstanding— no officer or employee of the eligible business whose total compensation exceeded $425, 000 in c a l e n d a rye a r 2019 (o t h er t hanan e m pl oyee w h oseco m p e n s a t i o ni s d e t er min e d t h ro ug han e x i s t in g co ll ec t i v e ba r g ainin g a g ree m e n t e n t ere d in t o p r i or t o M a rc h 1, 2020) — w i ll rece i v e f ro m t h ee l i g ib l e b u s in ess t o t a l co m p e n s a t i o n w hi c h e x cee d s, d u r in g an y 12 co n sec u t i v e m o n t h so f s u c h p er i o d, t h e t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h ee l i g ib l e b u s in ess in c a l e n d a rye a r 2019; or w i ll rece i v e f ro m t h ee l i g ib l e b u s in essse v er an ce p a yoro t h er b e n e f i t s u p o n t er mina t i o n o f e m pl oy m e n tw i t h t h ee l i g ib l e b u s in ess w hi c h e x cee d s tw i ce t h e ma x im u m t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h ee l i g ib l e b u s in ess in c a l e n d a rye a r 2019; an d n oo ff i cerore m pl oyeeo f t h ee l i g ib l e b u s in ess w h ose t o t a l co m p e n s a t i o n e x cee d e d$ 3,000,000 in calendar year 2019 may receive during any 12 consecutive months of such period total compensation in excess of the sum of— $3, 000, 000; an d 50 p erce n t o f t h ee x cesso v er$ 3,000,000 of the total compensation received by the officer or employee from the eligible business in calendar 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.

§ 9044 Continuation of certain air service

The Secretary of Transportation is authorized to require, to the extent reasonable and practicable, an air carrier receiving loans and loan guarantees under section 9042 of this title to maintain scheduled air transportation service as the Secretary 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-functioning health care and pharmaceutical supply chains, including for medical devices and supplies. The authority under this section, including any requirement issued by the Secretary under this section, shall terminate on March 1, 2022 . ( Pub. L. 116–136, div. A, title IV, § 4005 , Mar. 27, 2020 , 134 Stat. 477 .)

§ 9045 Coordination with Secretary of Transportation

In implementing this part with respect to air carriers, the Secretary shall coordinate with the Secretary of Transportation. ( Pub. L. 116–136, div. A, title IV, § 4006 , Mar. 27, 2020 , 134 Stat. 477 .)

§ 9046 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 title 26 ) during the excise tax holiday period, no tax shall be imposed under section 4261 or 4271 of title 26. The preceding sentence shall not apply to amounts paid on or before March 27, 2020 .

(b) Use of Kerosene in commercial aviation In the case of kerosene used in commercial aviation (as defined in section 4083 of title 26 ) during the excise tax holiday period— no tax shall be imposed on such kerosene under— section 4041(c) of title 26 , or section 4081 of title 26 (other than at the rate provided in subsection (a)(2)(B) thereof), and section 6427( l ) of title 26 shall be applied— by treating such use as a nontaxable use, and 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 March 27, 2020 , and ending before January 1, 2021 .

§ 9047 Federal credit union transaction account guarantees

Notwithstanding any other provision of law and in coordination with the Federal Deposit Insurance Corporation, the National Credit Union Administration Board may by a vote of the Board increase to unlimited, 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 transaction account in any federally insured credit union without exception, provided that any such increase shall terminate not later than December 31, 2020 . ( Pub. L. 116–136, div. A, title IV, § 4008(b) , Mar. 27, 2020 , 134 Stat. 478 .)

§ 9048 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 without regard to the requirements of section 552b of title 5 during the period beginning on March 27, 2020 , and ending on the earlier of— 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 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).

§ 9049 Temporary hiring flexibility

(a) Definition In this section, the term “covered period” means the period beginning on March 27, 2020 , and ending on the sooner of— the termination date of 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.); or December 31, 2020 .

(b) Authority During the covered period, the Secretary 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, recruit and appoint candidates to fill temporary and term appointments within their respective agencies upon a determination that those expedited procedures are necessary and appropriate to enable the respective agencies to prevent, prepare for, or respond to COVID–19.

§ 9050 Temporary relief for community banks

(a) Definitions In this section— the term “appropriate Federal banking agency” has the meaning given the term in section 2 of the Economic Growth, Regulatory Relief, and Consumer Protection Act ( 12 U.S.C. 5365 note); and 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 Notwithstanding any other provision of law or regulation, the appropriate Federal banking agencies shall issue an interim final rule that provides that, for the purposes of section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act ( 12 U.S.C. 5371 note)— the Community Bank Leverage Ratio shall be 8 percent; and a qualifying community bank that falls below the Community Bank Leverage Ratio established under subparagraph (A) shall have a reasonable grace period to satisfy the Community Bank Leverage Ratio. The interim rule issued under paragraph (1) shall be effective during the period beginning on the date on which the appropriate Federal banking agencies issue the rule and ending on the sooner of— the termination date of 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.); or 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).

§ 9051 Temporary relief from troubled debt restructurings

(a) Definitions In this section: The term “applicable period” means the period beginning on March 1, 2020 and ending on the earlier of January 1, 2022 , 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 President on March 13, 2020 under the National Emergencies Act ( 50 U.S.C. 1601 et seq.) terminates. The term “appropriate Federal banking agency”— has the meaning given the term in section 1813 of title 12 ; and includes the National Credit Union Administration.

(b) Suspension During the applicable period, a financial institution, including an insurance company, may elect to— 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 restructuring; and 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 under United States Generally Accepted Accounting Principles. Any suspension under paragraph (1)— shall be applicable for the term of the loan modification, but solely with respect to any modification, including a forbearance arrangement, an interest rate modification, a repayment plan, and any other similar arrangement that defers or delays the payment of principal or interest, that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019 ; and shall not apply to any adverse impact on the credit of a borrower that is not related to the coronavirus disease 2019 (COVID–19) pandemic.

(c) Deference The appropriate Federal banking agency of the financial institution, including an insurance company, shall defer to the determination of the financial institution, including an insurance company, to make a suspension under this section.

(d) Records For modified loans for which suspensions under subsection (a) apply— financial institutions, including insurance companies, should continue to maintain records of the volume of loans involved; and the appropriate Federal banking agencies may collect data about such loans for supervisory purposes.

§ 9052 Optional temporary relief from current expected credit losses

(a) Definitions In this section: The term “appropriate Federal banking agency”— has the meaning given the term in section 1813 of title 12 ; and includes the National Credit Union Administration. The term “insured depository institution”— has the meaning given the term in section 1813 of title 12 ; and includes a credit union.

(b) Temporary relief from CECL standards Notwithstanding any other provision of law, no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting 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, during the period beginning on March 27, 2020 , and ending on the earlier of— the first day of the fiscal year of the insured depository institution, bank holding company, or any affiliate thereof that begins after 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 January 1, 2022 .

§ 9053 Special Inspector General for Pandemic Recovery

(a) Office of Inspector General There is hereby established within the Department of the Treasury the Office of the Special Inspector General for Pandemic Recovery.

(b) Appointment of Inspector General; removal 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. The nomination of the Special Inspector General shall be made on the basis of integrity and demonstrated ability in accounting, auditing, financial analysis, law, management analysis, public administration, or investigations. The nomination 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 9042 of this title . The Special Inspector General shall be removable from office in accordance with the provisions of section 3(b) of the Inspector General Act of 1978 (5 U.S.C. App.). 1 For purposes of section 7324 of title 5 , the Special Inspector General shall not be considered an employee who determines policies to be pursued by the United States in the nationwide administration of Federal law. The annual rate of basic pay of the Special Inspector General shall be the annual rate of basic pay for an Inspector General under section 3(e) of the Inspector General Act of 1978 (5 U.S.C. App.). 1

(c) Duties It shall be the duty of the Special Inspector General to, in accordance with section 4(b)(1) of the Inspector General Act of 1978 (5 U.S.C. App.), 1 conduct, supervise, and coordinate audits and investigations of the making, purchase, management, and sale of loans, loan guarantees, and other investments made by the Secretary of the Treasury under any program established by the Secretary under this Act, and the management by the Secretary of any program established under this Act, including by collecting and summarizing the following information: A description of the categories of the loans, loan guarantees, and other investments made by the Secretary. A listing of the eligible businesses receiving loan, loan guarantees, and other investments made under each category described in subparagraph (A). An explanation of the reasons the Secretary determined it to be appropriate to make each loan or loan guarantee under this Act, including a justification of the price paid for, and other financial terms associated with, the applicable transaction. A listing of, and detailed biographical information with respect to, each person hired to manage or service each loan, loan guarantee, or other investment made under section 9042 of this title . A current, as of the date on which the information is collected, estimate of the total amount of each loan, loan guarantee, and other investment made under this Act that is outstanding, the amount of interest and fees accrued and received with respect to each loan or loan 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 investment. The Special Inspector General shall establish, maintain, and oversee such systems, procedures, and controls as the Special Inspector General considers appropriate to discharge the duties of the Special Inspector General under paragraph (1). In addition to the duties described in paragraphs (1) and (2), the Special Inspector General shall also have the duties and responsibilities of inspectors general under the Inspector General Act of 1978 (5 U.S.C. App.). 1

(d) Powers and authorities In carrying out the duties of the Special Inspector General under subsection (c), the Special Inspector General shall have the authorities provided in section 6 of the Inspector General Act of 1978 (5 U.S.C. App.). 1 The Office of the Special Inspector General for Pandemic Recovery 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.) 1 and shall be exempt from an initial determination by the Attorney General under section 6(f)(2) of that Act.

(e) Personnel, facilities, and other resources The Special Inspector General may select, appoint, 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 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. The Special Inspector General may obtain services as authorized under section 3109 of title 5 at daily rates not to exceed the equivalent rate prescribed for grade GS–15 of the General Schedule by section 5332 of that title. The Special Inspector General may enter into contracts and other arrangements for audits, studies, analyses, and other services with public agencies and with private persons, and make such payments as may be necessary to carry out the duties of the Inspector General. Upon request of the Special Inspector General for information or assistance from any department, agency, or other entity of the Federal Government, the head of that department, agency, or entity shall, to the extent practicable and not in contravention of any existing law, furnish that information or assistance to the Special Inspector General, or an authorized designee. Whenever information or assistance requested by the Special Inspector General is, in the judgment of the Special Inspector General, unreasonably refused or not provided, the Special Inspector General shall report the circumstances to the appropriate committees of Congress without delay.

(f) Reports Not later than 60 days after the date on which the Special Inspector 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. Each report submitted under subparagraph (A) shall include, for the period covered by the report, a detailed statement of all loans, loan guarantees, other transactions, obligations, expenditures, and revenues associated with any program established by the Secretary under section 9042 of this title , as well as the information collected under subsection (c)(1). Nothing in this subsection may be construed to authorize the public disclosure of information that is— specifically prohibited from disclosure by any other provision of law; 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 a part of an ongoing criminal investigation.

(g) Funding Of the amounts made available to the Secretary under section 9061 of this title , $25,000,000 shall be made available to the Special Inspector General to carry out this section. 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 March 27, 2020 .

(i) Council of the Inspectors General on integrity 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.) 1 until the date of termination of the Office of the Special Inspector General.

(j) Corrective responses to audit problems The Secretary shall— take action to address deficiencies identified by a report or investigation of the Special Inspector General; or with respect to a deficiency identified under paragraph (1), certify to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee 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 appropriate.

§ 9054 Conflicts of interest

(a) Definitions In this section: The term “controlling interest” means owning, controlling, or holding not less than 20 percent, by vote or value, of the outstanding amount of any class of equity interest in an entity. The term “covered entity” 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. The term “covered individual” means— the President, the Vice President, the head of an Executive department, or a Member of Congress; and the spouse, child, son-in-law, or daughter-in-law, as determined under applicable common law, of an individual described in subparagraph (A). The term “Executive department” has the meaning given the term in section 101 of title 5 . The term “member of Congress” means a member of the Senate or House of Representatives, a Delegate to the House of Representatives, and the Resident Commissioner from Puerto Rico. The term “equity interest” means— a share in an entity, without regard to whether the share is— transferable; or classified as stock or anything similar; a capital or profit interest in a limited liability company or partnership; or 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 provision of this part, no covered entity may be eligible for any transaction described in section 9042 of this title .

(c) Requirement The principal executive officer and the principal financial officer, or individuals performing similar functions, of an entity seeking to enter a transaction under section 9042 of this title shall, before that transaction 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.

§ 9055 Congressional Oversight Commission

(a) Establishment There is hereby established the Congressional Oversight Commission (hereafter in this section referred to as the “Oversight Commission”) as an establishment in the legislative branch.

(b) Duties The Oversight Commission shall— conduct oversight of the implementation of this part by the Department of the Treasury and the Board of Governors of the Federal Reserve System, including efforts of the Department and the Board to provide economic stability as a result of the coronavirus disease 2019 (COVID–19) pandemic of 2020; submit to Congress reports under paragraph (2); and review the implementation of this part by the Federal Government. Reports of the Oversight Commission shall include the following: The use by the Secretary and the Board of Governors of the Federal Reserve System of authority under this part, including with respect to the use of contracting authority and administration of the provisions of this part. The impact of loans, loan guarantees, and investments made under this part on the financial well-being of the people of the United States and the United States economy, financial markets, and financial institutions. The extent to which the information made available on transactions under this part has contributed to market transparency. The effectiveness of loans, loan guarantees, and investments made under this part of minimizing long-term costs to the taxpayers and maximizing the benefits for taxpayers. 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 Reserve System of the authority under this part and every 30 days thereafter.

(c) Membership The Oversight Commission shall consist of 5 members as follows: 1 member appointed by the Speaker of the House of Representatives. 1 member appointed by the minority leader of the House of Representatives. 1 member appointed by the majority leader of the Senate. 1 member appointed by the minority leader of the Senate. 1 member appointed as Chairperson by the Speaker of the House of Representatives and the majority leader of the Senate, after consultation with the minority leader of the Senate and the minority leader of the House of Representatives 1 Each member of the Oversight Commission 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 Oversight Commission. Members of the Oversight Commission who are full-time officers or employees of the United States may not receive additional pay, allowances, or benefits by reason of their service on the Oversight Commission. Each member shall receive travel expenses, including per diem in lieu of subsistence, in accordance with applicable provisions under subchapter I of chapter 57 of title 5. Four members of the Oversight Commission shall constitute a quorum but a lesser number may hold hearings. A vacancy on the Oversight Commission shall be filled in the manner in which the original appointment was made. The Oversight Commission shall meet at the call of the Chairperson or a majority of its members.

(d) Staff The Oversight Commission may appoint and fix the pay of any personnel as the Oversight Commission considers appropriate. The Oversight Commission may procure temporary and intermittent services under section 3109(b) of title 5 . Upon request of the Oversight Commission, the head of any Federal department 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 2 part.

(e) Powers 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 testimony, and receive evidence as the Oversight Commission considers appropriate and may administer oaths or affirmations to witnesses appearing before it. The Oversight Commission may, to such extent and in such amounts as are provided in appropriation Acts, enter into contracts to enable the Oversight Commission to discharge its duties under this section. 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. The Oversight Commission may secure directly from any department or agency of the United States information necessary to enable it to carry out this section. Upon request of the Chairperson of the Oversight Commission, the head of that department or agency shall furnish that information to the Oversight Commission. The Oversight Commission shall receive and consider all reports required to be submitted to the Oversight Commission under this part.

(f) Termination The Oversight Commission shall terminate on June 30, 2023 .

(g) Funding for expenses There is authorized to be appropriated to the Oversight 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 Representatives, and half of which shall be derived from the contingent fund of the Senate. 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 statement of such expenses by the Chairperson of the Oversight Commission, from funds made available to the Secretary under this part to the applicable fund of the House of Representatives and the contingent fund of the Senate, as appropriate, as reimbursement for amounts expended from such account and fund under paragraph (1).

§ 9056 Foreclosure moratorium and consumer right to request forbearance

(a) Definitions In this section: The term “COVID–19 emergency” means 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.). The term “Federally backed mortgage loan” includes any 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- families that is— insured by the Federal Housing Administration under title II of the National Housing Act ( 12 U.S.C. 1707 et seq.); insured under section 255 of the National Housing Act ( 12 U.S.C. 1715z–20 ); guaranteed under section 1715z–13a or 1715z–13b of title 12; guaranteed or insured by the Department of Veterans Affairs; guaranteed or insured by the Department of Agriculture; made by the Department of Agriculture; or purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.

(b) Forbearance During the covered period, a borrower with a Federally backed mortgage loan experiencing a financial hardship due, directly or indirectly, to the COVID–19 emergency may request forbearance on the Federally backed mortgage loan, regardless of delinquency status, by— submitting a request to the borrower’s servicer; and affirming that the borrower is experiencing a financial hardship during the COVID–19 emergency. Upon a request 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, provided that, at the borrower’s request, either the initial or extended period of forbearance may be shortened. During a period of forbearance described in this subsection, 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, shall accrue on the borrower’s account.

(c) Requirements for servicers Upon receiving a request for forbearance from a borrower under subsection (b), the servicer shall with no additional documentation required other than the borrower’s attestation to a financial 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, provide 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, either the initial or extended period of forbearance may be shortened. 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 .

§ 9057 Forbearance of residential mortgage loan payments for multifamily properties with Federally backed loans

(a) In general During the covered period, a multifamily borrower with a Federally backed multifamily mortgage 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 subsection (a) to the borrower’s servicer affirming that the multifamily borrower is experiencing a financial hardship during the COVID–19 emergency.

(c) Forbearance period Upon receipt of an oral or written request for forbearance from a multifamily borrower, a servicer shall— document the financial hardship; provide the forbearance for up to 30 days; and extend the forbearance for up to 2 additional 30 day periods upon the request of the borrower provided that, the borrower’s request for an extension is made during the covered period, and, at least 15 days prior to the end of the forbearance period described under subparagraph (B). A multifamily borrower shall have the option to discontinue the forbearance at any time.

(d) Renter protections during forbearance period A multifamily borrower that receives a forbearance under this section may not, for the duration of the forbearance— evict or initiate the eviction of a tenant from a dwelling unit located in or on the applicable property solely for nonpayment of rent or other fees or charges; or 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— may not require a tenant to vacate a dwelling unit located in or on the applicable property before the date that is 30 days after the date on which the borrower provides the tenant with a notice to vacate; and may not issue a notice to vacate under paragraph (1) until after the expiration of the forbearance.

(f) Definitions In this section: The term “applicable property”, with respect to a Federally backed multifamily mortgage loan, means the residential multifamily property against which the mortgage loan is secured by a lien. The term “Federally backed multifamily mortgage loan” includes any loan (other than temporary financing such as a construction loan) that— is secured by a first or subordinate lien on residential multifamily real property designed 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 property; and 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 administered 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. the term “multifamily borrower” means a borrower of a residential mortgage loan that is secured by a lien against a property comprising 5 or more dwelling units. The term “COVID–19 emergency” means 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.). The term “covered period” means the period beginning on March 27, 2020 , and ending on the sooner of— the termination date of 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.); or December 31, 2020 .

§ 9058 Temporary moratorium on eviction filings

(a) Definitions In this section: The term “covered dwelling” means a dwelling that— is occupied by a tenant— pursuant to a residential lease; or without a lease or with a lease terminable under State law; and is on or in a covered property. The term “covered property” means any property that— participates in— a covered housing program (as defined in section 12491(a) of title 34 ); or the rural housing voucher program under section 1490r of title 42 ; or has a— Federally backed mortgage loan; or Federally backed multifamily mortgage loan. The term “dwelling”— has the meaning given the term in section 3602 of title 42 ; and includes houses and dwellings described in section 3603(b) of title 42 . The term “Federally backed mortgage loan” includes any loan (other than temporary financing such as a construction loan) that— 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 families, including any such secured loan, the proceeds of which are used to prepay or pay off an existing loan secured by the same property; and 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 administered 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. The term “Federally backed multifamily mortgage loan” includes any loan (other than temporary financing such as a construction loan) that— is secured by a first or subordinate lien on residential multifamily real property designed 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 property; and 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 administered 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.

(b) Moratorium During the 120-day period beginning on March 27, 2020 , the lessor of a covered dwelling may not— 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 charge fees, penalties, or other charges to the tenant related to such nonpayment of rent.

(c) Notice The lessor of a covered dwelling unit— may not require the tenant to vacate the covered 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 may not issue a notice to vacate under paragraph (1) until after the expiration of the period described in subsection (b).

§ 9058a Emergency rental assistance

(a) Appropriation Out of any money in the Treasury of the United States not otherwise appropriated, there are appropriated for making payments to eligible grantees under this section, $25, 000, 000, 000 f or f i sc a l ye a r 2021. O f t h e am o u n t a pp ro p r ia t e d u n d er p a r a g r a p h (1), t h e S ecre t a rys ha ll reser v e —$ 400,000,000 of such amount for making payments under this section to the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa; and $800, 000, 000 o f s u c ham o u n t f or makin g p a y m e n t s u n d er t hi ssec t i o n t oe l i g ib l e g r an t ees d escr ib e d in s u b p a r a g r a p h s (C) an d (D) o f s u b sec t i o n (k) (2); an d$ 15,000,000 for administrative expenses of the Secretary described in subsection (h).

(b) Payments for rental assistance The amount appropriated under paragraph (1) of subsection (a) that remains after the application of paragraph (2) of such subsection shall be allocated and paid to eligible grantees described in subparagraph (B) in the same manner as the amount appropriated under subsection (a)(1) of section 801 of title 42 is allocated and paid to States and units of local government under subsections (b) and (c) of such section, and shall be subject to the same requirements, except that— the deadline for payments under section 801(b)(1) of such title shall, for purposes of payments under this section, be deemed to be not later than 30 days after December 27, 2020 ; the amount referred to in paragraph (3) of section 801(c) of such title shall be deemed to be the amount appropriated under paragraph (1) of subsection (a) of this Act 1 that remains after the application of paragraph (2) of such subsection; section 801(c) of title 42 shall be applied— by substituting “1 of the 50 States or the District of Columbia” for “1 of the 50 States” each place it appears; in paragraph (2)(A), by substituting “ $200, 000, 000” f or “$ 1,250,000,000”; in paragraph (2)(B), by substituting “each of the 50 States and District of Columbia” for “each of the 50 States”; in paragraph (4), by substituting “excluding the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa” for “excluding the District of Columbia and territories specified in subsection (a)(2)(A)”; and without regard to paragraph (6); section 801(d) of such title shall not apply to such payments; and section 801(e) of such title 2 shall be applied— by substituting “under section 9058a of title 15 ” for “under this section”; and by substituting “local government elects to receive funds from the Secretary under section 9058a of title 15 and will use the funds in a manner consistent with such section” for “local government’s proposed uses of the funds are consistent with subsection (d)”. The eligible grantees described in this subparagraph are the following: A State that is 1 of the 50 States or the District of Columbia. A unit of local government located in a State described in clause (i). From the amount reserved under subsection (a)(2)(B), the Secretary shall— pay the amount equal to 0.3 percent of such amount to the Department of Hawaiian Home Lands; and subject to subparagraph (B), from the remainder of such amount, allocate and pay to each Indian tribe (or, if applicable, the tribally designated housing entity of an Indian tribe) that was eligible for a grant under title I of the Native American Housing Assistance and Self-Determination Act of 1996 (NAHASDA) ( 25 U.S.C. 4111 et seq.) for fiscal year 2020 an amount that bears the same proportion to the such remainder as the amount each such Indian tribe (or entity) was eligible to receive for such fiscal year from the amount appropriated under paragraph (1) under the heading “native american programs” under the heading “Public and Indian Housing” of title II of division H of the Further Consolidated Appropriations Act, 2020 ( Public Law 116–94 ) to carry out the Native American Housing Block Grants program bears to the amount appropriated under such paragraph for such fiscal year, provided the Secretary shall be authorized to allocate, in an equitable manner as determined by the Secretary, and pay any Indian tribe that opted out of receiving a grant allocation under the Native American Housing Block Grants program formula in fiscal year 2020, including by establishing a minimum amount of payments to such Indian tribe, provided such Indian tribe notifies the Secretary not later than 30 days after December 27, 2020 , that it intends to receive allocations and payments under this section. The Secretary shall make pro rata reductions in the amounts of the allocations determined under clause (ii) of subparagraph (A) for entities described in such clause as necessary to ensure that the total amount of payments made pursuant to such clause does not exceed the remainder amount described in such clause. If the Secretary determines as of 30 days after December 27, 2020 , that an entity described in clause (ii) of subparagraph (A) has declined to receive its full allocation under such clause then, not later than 15 days after such date, the Secretary shall redistribute, on a pro rata basis, such allocation among the other entities described in such clause that have not declined to receive their allocations. From the amount reserved under subsection (a)(2)(A), subject to subparagraph (B), the Secretary shall allocate and pay to each eligible grantee described in subparagraph (C) an amount equal to the product of— the amount so reserved; and each such eligible grantee’s share of the combined total population of all such eligible grantees, as determined by the Secretary. The sum of the amounts allocated under subparagraph (A) to all of the eligible grantees described in clause (ii) of subparagraph (C) shall not be less than the amount equal to 0.3 percent of the amount appropriated under subsection (a)(1). The Secretary shall reduce the amount of the allocation determined under subparagraph (A) for the eligible grantee described in clause (i) of subparagraph (C) as necessary to meet the requirement of clause (i). The eligible grantees described in this subparagraph are— the Commonwealth of Puerto Rico; and the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa.

(c) Use of funds An eligible grantee shall only use the funds provided from a payment made under this section to provide financial assistance and housing stability services to eligible households. Not less than 90 percent of the funds received by an eligible grantee from a payment made under this section shall be used to provide financial assistance to eligible households, including the payment of rent; rental arrears; utilities and home energy costs; utilities and home energy costs arrears; and other expenses related to housing incurred due, directly or indirectly, to the novel coronavirus disease (COVID–19) outbreak, as defined by the Secretary. Such assistance shall be provided for a period not to exceed 12 months except that grantees may provide assistance for an additional 3 months only if necessary to ensure housing stability for a household subject to the availability of funds. Subject to the exception in clause (ii), an eligible grantee shall not provide an eligible household with financial assistance for prospective rent payments for more than 3 months based on any application by or on behalf of the household. For any eligible household described in clause (i), such household may receive financial assistance for prospective rent payments for additional months: subject to the availability of remaining funds currently allocated to the eligible grantee, and based on a subsequent application for additional financial assistance provided that the total months of financial assistance provided to the household do not exceed the total months of assistance allowed under subparagraph (A). To the extent that applicants have rental arrears, grantees may not make commitments for prospective rent payments unless they have also provided assistance to reduce an eligible household’s rental arrears. With respect to financial assistance for rent and rental arrears and utilities and home energy costs and utility and home energy costs arrears provided to an eligible household from a payment made under this section, an eligible grantee shall make payments to a lessor or utility provider on behalf of the eligible household, except that, if the lessor or utility provider does not agree to accept such payment from the grantee after outreach to the lessor or utility provider by the grantee, the grantee may make such payments directly to the eligible household for the purpose of making payments to the lessor or utility provider. Nothing in this section shall be construed to invalidate any otherwise legitimate grounds for eviction. For any payments made by an eligible grantee to a lessor or utility provider on behalf of an eligible household, the eligible grantee shall provide documentation of such payments to such household. Not more than 10 percent of funds received by an eligible grantee from a payment made under this section may be used to provide eligible households with case management and other services related to the novel coronavirus disease (COVID–19) outbreak, as defined by the Secretary, intended to help keep households stably housed. In reviewing applications for financial assistance and housing stability services to eligible households from a payment made under this section, an eligible grantee shall prioritize consideration of the applications of an eligible household that satisfies any of the following conditions: The income of the household does not exceed 50 percent of the area median income for the household. 1 or more individuals within the household are unemployed as of the date of the application for assistance and have not been employed for the 90-day period preceding such date. Nothing in this section shall be construed to prohibit an eligible grantee from providing a process for the further prioritizing of applications for financial assistance and housing stability services from a payment made under this section, including to eligible households in which 1 or more individuals within the household were unable to reach their place of employment or their place of employment was closed because of a public health order imposed as a direct result of the COVID–19 public health emergency. Not more than 10 percent of the amount paid to an eligible grantee under this section may be used for administrative costs attributable to providing financial assistance and housing stability services under paragraphs (2) and (3), respectively, including for data collection and reporting requirements related to such funds. Amounts paid under this section shall not be used for any administrative costs other than to the extent allowed under subparagraph (A).

(d) Reallocation of unused funds Beginning on September 30, 2021 , the Secretary shall recapture excess funds, as determined by the Secretary, not obligated by a grantee for the purposes described under subsection (c) and the Secretary shall reallocate and repay such amounts to eligible grantees who, at the time of such reallocation, have obligated at least 65 percent of the amount originally allocated and paid to such grantee under subsection (b)(1), only for the allowable uses described under subsection (c). The amount of any such reallocation shall be determined based on demonstrated need within a grantee’s jurisdiction, as determined by the Secretary.

(e) Availability Funds provided to an eligible grantee under a payment made under this section shall remain available through September 30, 2022 . For funds reallocated to an eligible grantee pursuant to subsection (d), an eligible grantee may request, subject to the approval of the Secretary, a 90-day extension of the deadline established in paragraph (1).

(f) Application for assistance by landlords and owners Subject to paragraph (2), nothing in this section shall preclude a landlord or owner of a residential dwelling from— assisting a renter of such dwelling in applying for assistance from a payment made under this section; or applying for such assistance on behalf of a renter of such dwelling. If a landlord or owner of a residential dwelling submits an application for assistance from a payment made under this section on behalf of a renter of such dwelling— the landlord must obtain the signature of the tenant on such application, which may be documented electronically; documentation of such application shall be provided to the tenant by the landlord; and any payments received by the landlord from a payment made under this section shall be used to satisfy the tenant’s rental obligations to the owner.

(g) Reporting requirements The Secretary, in consultation with the Secretary of Housing and Urban Development, shall provide public reports not less frequently than quarterly regarding the use of funds made available under this section, which shall include, with respect to each eligible grantee under this section, both for the past quarter and over the period for which such funds are available— the number of eligible households that receive assistance from such payments; the acceptance rate of applicants for assistance; the type or types of assistance provided to each eligible household; the average amount of funding provided per eligible household receiving assistance; household income level, with such information disaggregated for households with income that— does not exceed 30 percent of the area median income for the household; exceeds 30 percent but does not exceed 50 percent of the area median income for the household; and exceeds 50 percent but does not exceed 80 percent of area median income for the household; and the average number of monthly rental or utility payments that were covered by the funding amount that a household received, as applicable. Each report under this subsection shall disaggregate the information relating to households provided under subparagraphs (A) through (F) of paragraph (1) by the gender, race, and ethnicity of the primary applicant for assistance in such households. The Secretary may establish alternative reporting requirements for grantees described in subsection (b)(2). Each eligible grantee that receives a payment under this section shall establish data privacy and security requirements for the information described in paragraph (1) that— include appropriate measures to ensure that the privacy of the individuals and households is protected; provide that the information, including any personally identifiable information, is collected and used only for the purpose of submitting reports under paragraph (1); and provide confidentiality protections for data collected about any individuals who are survivors of intimate partner violence, sexual assault, or stalking. The Secretary— may provide full and unredacted information provided under subparagraphs (A) through (F) of paragraph (1), including personally identifiable information, for statistical research purposes in accordance with existing law; and may collect and make available for statistical research, at the census tract level, information collected under subparagraph (A). A recipient of information under clause (i) shall establish for such information the data privacy and security requirements described in subparagraph (A). Subchapter I of chapter 35 of title 44 shall not apply to the collection of information for the reporting or research requirements specified in this subsection.

(h) Administrative expenses of the Secretary Of the funds appropriated pursuant to subsection (a), not more than $15,000,000 may be used for administrative expenses of the Secretary in administering this section, including technical assistance to grantees in order to facilitate effective use of funds provided under this section.

(i) Inspector General Oversight; Recoupment The Inspector General of the Department of the Treasury shall conduct monitoring and oversight of the receipt, disbursement, and use of funds made available under this section. 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 (c), 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 general fund of the Treasury. Out of any money in the Treasury of the United States not otherwise appropriated, there are appropriated to the Office of the Inspector General of the Department of the Treasury, $6,500,000 to carry out oversight and recoupment activities under this subsection. Amounts appropriated under the preceding sentence shall remain available until expended. Nothing in this subsection shall be construed to diminish the authority of any Inspector General, including such authority as provided in the Inspector General Act of 1978 (5 U.S.C. App.) 3

(j) Treatment of assistance Assistance provided to a household from a payment made under this section shall not be regarded as income and shall not be regarded as a resource for purposes of determining the eligibility of the household or any member of the household for benefits or assistance, or the amount or extent of benefits or assistance, under any Federal program or under any State or local program financed in whole or in part with Federal funds.

(k) Definitions In this section: The term “area median income” means, with respect to a household, the median income for the area in which the household is located, as determined by the Secretary of Housing and Urban Development. The term “eligible grantee” means any of the following: A State (as defined in section 801(g)(4) of title 42 . A unit of local government (as defined in paragraph (5)). An Indian tribe or its tribally designated housing entity (as such terms are defined in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4103 )) that was eligible to receive a grant under title I of such Act ( 25 U.S.C. 4111 et seq.) for fiscal year 2020 from the amount appropriated under paragraph (1) under the heading “native american programs” under the heading “Public and Indian Housing” of title II of division H of the Further Consolidated Appropriations Act, 2020 ( Public Law 116–94 ) to carry out the Native American Housing Block Grants program. For the avoidance of doubt, the term Indian tribe shall include Alaska native corporations established pursuant to the Alaska Native Claims Settlement Act ( 43 U.S.C. 1601 et seq.). The Department of Hawaiian Homelands. The term “eligible household” means a household of 1 or more individuals who are obligated to pay rent on a residential dwelling and with respect to which the eligible grantee involved determines— that 1 or more individuals within the household has 4 qualified for unemployment benefits or experienced a reduction in household income, incurred significant costs, or experienced other financial hardship due, directly or indirectly, to the novel coronavirus disease (COVID–19) outbreak, which the applicant shall attest in writing; that 1 or more individuals within the household can demonstrate a risk of experiencing homelessness or housing instability, which may include— a past due utility or rent notice or eviction notice; unsafe or unhealthy living conditions; or any other evidence of such risk, as determined by the eligible grantee involved; and the household has a household income that is not more than 80 percent of the area median income for the household. To the extent feasible, an eligible grantee shall ensure that any rental assistance provided to an eligible household pursuant to funds made available under this section is not duplicative of any other Federally funded rental assistance provided to such household. In determining the income of a household for purposes of determining such household’s eligibility for assistance from a payment made under this section (including for purposes of subsection (c)(4)), the eligible grantee involved shall consider either the household’s total income for calendar year 2020, or subject to clause (ii), sufficient confirmation, as determined by the Secretary, of the household’s monthly income at the time of application for such assistance. In the case of income determined under subclause (II), the eligible grantee shall be required to re-determine the eligibility of a household’s income after each such period of 3 months for which the household receives assistance from a payment made under this section. The term “Inspector General” means the Inspector General of the Department of the Treasury. The term “Secretary” means the Secretary of the Treasury. The term “unit of local government” has the meaning given such term in paragraph (2) of section 801(g) of title 42 , except that, in applying such term for purposes of this section, such paragraph shall be applied by substituting “200,000” for “500,000”.

(l) Termination of program The authority of an eligible grantee to make new obligations to provide payments under subsection (c) shall terminate on the date established in subsection (e) for that eligible grantee. Amounts not expended in accordance with this section shall revert to the Department of the Treasury.

§ 9058b Funding for water assistance program

(a) In general In addition to amounts otherwise available, there is appropriated to the Secretary of Health and Human Services (in this section referred to as the “Secretary”) for fiscal year 2021, out of any amounts in the Treasury not otherwise appropriated, $500,000,000, to remain available until expended, for grants to States and Indian Tribes to assist low-income households, particularly those with the lowest incomes, that pay a high proportion of household income for drinking water and wastewater services, by providing funds to owners or operators of public water systems or treatment works to reduce arrearages of and rates charged to such households for such services.

(b) Allotment The Secretary shall— allot amounts appropriated in this section to a State or Indian Tribe based on— the percentage of households in the State, or under the jurisdiction of the Indian Tribe, with income equal or less than 150 percent of the Federal poverty line; and the percentage of households in the State, or under the jurisdiction of the Indian Tribe, that spend more than 30 percent of monthly income on housing; and reserve up to 3 percent of the amount appropriated in this section for Indian Tribes and tribal organizations.

(c) Definition In this section, the term “State” means each of the 50 States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands.

§ 9058c Emergency rental assistance

(a) Funding In addition to amounts otherwise available, there is appropriated to the Secretary of the Treasury for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $21, 550, 000, 000, t ore maina v ai l ab l e u n t i lS e pt e mb er 30, 2027, f or makin g p a y m e n t s t oe l i g ib l e g r an t ees u n d er t hi ssec t i o n — O f t h e am o u n t a pp ro p r ia t e d u n d er p a r a g r a p h (1), t h e S ecre t a rys ha ll reser v e —$ 305,000,000 for making payments under this section to the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa; $30, 000, 000 f orcos t so f t h e S ecre t a ry f or t h e a d mini s t r a t i o n o f e m er g e n cyre n t a l a ss i s t an ce p ro g r am s an d t ec hni c a l a ss i s t an ce t orec i p i e n t so f an y g r an t s ma d e b y t h e S ecre t a ry t o p ro v i d e f inan c ia l an d o t h er a ss i s t an ce t ore n t ers;$ 3,000,000 for administrative expenses of the Inspector General relating to oversight of funds provided in this section; and $2,500,000,000 for payments to high-need grantees as provided in this section.

(b) Allocation of funds to eligible grantees The amount appropriated under paragraph (1) of subsection (a) that remains after the application of paragraph (2) of such subsection shall be allocated to eligible grantees described in subparagraphs (A) and (B) of subsection (f)(1) in the same manner as the amount appropriated under section 9058a of this title is allocated to States and units of local government under subsection (b)(1) of such section, except that section 9058a(b) of this title shall be applied— without regard to clause (i) of paragraph (1)(A); by deeming the amount appropriated under paragraph (1) of subsection (a) of this Act 1 that remains after the application of paragraph (2) of such subsection to be the amount deemed to apply for purposes of applying clause (ii) of section 9058a(b)(1)(A) of this title ; by substituting “ $152, 000, 000” f or “$ 200,000,000” each place such term appears; in subclause (I) of such section 9058a(b)(1)(A)(v) of this title , by substituting “under section 9058c of title 15 ” for “under section 9058a of title 15 ”; and in subclause (II) of such section 9058a(b)(1)(A)(v) of this title , by substituting “local government elects to receive funds from the Secretary under section 9058c of title 15 and will use the funds in a manner consistent with such section” for “local government elects to receive funds from the Secretary under section 9058a of title 15 and will use the funds in a manner consistent with such section”. The Secretary shall make pro rata adjustments in the amounts of the allocations determined under subparagraph (A) of this paragraph for entities described in such subparagraph as necessary to ensure that the total amount of allocations made pursuant to such subparagraph does not exceed the remainder appropriated amount described in such subparagraph. The amount reserved under subsection (a)(2)(A) shall be allocated to eligible grantees described in subsection (f)(1)(C) in the same manner as the amount appropriated under section 9058a(a)(2)(A) of this title is allocated under section 9058a(b)(3) of this title to eligible grantees described under subparagraph (C) of such section 9058a(b)(3) of this title , except that section 9058a(b)(3) of this title shall be applied— in subparagraph (A), by inserting “of section 9058c of this title ” after “the amount reserved under subsection (a)(2)(A)”; and in clause (i) of subparagraph (B), by substituting “the amount equal to 0.3 percent of the amount appropriated under subsection (a)(1)” with “the amount equal to 0.3 percent of the amount appropriated under subsection (a)(1) of section 9058c of this title ”. The Secretary shall allocate funds reserved under subsection (a)(2)(D) to eligible grantees with a high need for assistance under this section, with the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or overcrowded conditions, rental market costs, and change in employment since February 2020 used as the factors for allocating funds.

(c) Payment schedule The Secretary shall pay all eligible grantees not less than 40 percent of each such eligible grantee’s total allocation provided under subsection (b) within 60 days of March 11, 2021 . The Secretary shall pay to eligible grantees additional amounts in tranches up to the full amount of each such eligible grantee’s total allocation in accordance with a procedure established by the Secretary, provided that any such procedure established by the Secretary shall require that an eligible grantee must have obligated not less than 75 percent of the funds already disbursed by the Secretary pursuant to this section prior to disbursement of additional amounts.

(d) Use of funds An eligible grantee shall only use the funds provided from payments made under this section as follows: Subject to clause (ii) of this subparagraph, funds received by an eligible grantee from payments made under this section shall be used to provide financial assistance to eligible households, not to exceed 18 months, including the payment of— rent; rental arrears; utilities and home energy costs; utilities and home energy costs arrears; and other expenses related to housing, as defined by the Secretary. The aggregate amount of financial assistance an eligible household may receive under this section, when combined with financial assistance provided under section 9058a of this title , shall not exceed 18 months. Not more than 10 percent of funds received by an eligible grantee from payments made under this section may be used to provide case management and other services intended to help keep households stably housed. Not more than 15 percent of the total amount paid to an eligible grantee under this section may be used for administrative costs attributable to providing financial assistance, housing stability services, and other affordable rental housing and eviction prevention activities, including for data collection and reporting requirements related to such funds. An eligible grantee may use any funds from payments made under this section that are unobligated on October 1, 2022 , for purposes in addition to those specified in this paragraph, provided that— such other purposes are affordable rental housing and eviction prevention purposes, as defined by the Secretary, serving very low-income families (as such term is defined in section 1437a(b) of title 42 ); and prior to obligating any funds for such purposes, the eligible grantee has obligated not less than 75 percent of the total funds allocated to such eligible grantee in accordance with this section. Amounts appropriated under subsection (a)(1) of this section shall be subject to the same terms and conditions that apply under paragraph (4) of section 9058a(c) of this title to amounts appropriated under subsection (a)(1) of such section 9058a of this title .

(e) Reallocation of funds Beginning March 31, 2022 , the Secretary shall reallocate funds allocated to eligible grantees in accordance with subsection (b) but not yet paid in accordance with subsection (c)(2) according to a procedure established by the Secretary. The Secretary shall require an eligible grantee to have obligated 50 percent of the total amount of funds allocated to such eligible grantee under subsection (b) to be eligible to receive funds reallocated under paragraph (1) of this subsection. The Secretary shall pay to each eligible grantee eligible for a payment of reallocated funds described in paragraph (2) of this subsection the amount allocated to such eligible grantee in accordance with the procedure established by the Secretary in accordance with paragraph (1) of this subsection. Eligible grantees may use any funds received in accordance with this subsection only for purposes specified in paragraph (1) of subsection (d).

(f) Definitions In this section: The term “eligible grantee” means any of the following: The 50 States of the United States and the District of Columbia. A unit of local government (as defined in paragraph (5)). The Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa. The term “eligible household” means a household of 1 or more individuals who are obligated to pay rent on a residential dwelling and with respect to which the eligible grantee involved determines that— 1 or more individuals within the household has— qualified for unemployment benefits; or experienced a reduction in household income, incurred significant costs, or experienced other financial hardship during or due, directly or indirectly, to the coronavirus pandemic; 1 or more individuals within the household can demonstrate a risk of experiencing homelessness or housing instability; and the household is a low-income family (as such term is defined in section 1437a(b) of title 42 . 2 The term “Inspector General” means the Inspector General of the Department of the Treasury. The term “Secretary” means the Secretary of the Treasury. The term “unit of local government” has the meaning given such term in section 9058a of this title .

(g) Availability Funds provided to an eligible grantee under a payment made under this section shall remain available through September 30, 2025 .

§ 9058d Homeowner Assistance Fund

(a) Appropriation In addition to amounts otherwise available, there is appropriated to the Secretary of the Treasury for the Homeowner Assistance Fund established under subsection (c) for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $9,961,000,000, to remain available until September 30, 2025 , for qualified expenses that meet the purposes specified under subsection (c) and expenses described in subsection (d)(1).

(b) Definitions In this section: The term “conforming loan limit” means the applicable limitation governing the maximum original principal obligation of a mortgage secured by a single-family residence, a mortgage secured by a 2-family residence, a mortgage secured by a 3-family residence, or a mortgage secured by a 4-family residence, as determined and adjusted annually under section 1717(b)(2) of title 12 and section 1454(a)(2) of title 12 . The term “dwelling” means any building, structure, or portion thereof which is occupied as, or designed or intended for occupancy as, a residence by one or more individuals. The term “eligible entity” means— a State; or any entity eligible for payment under subsection (f). The term “mortgage” means any credit transaction— that is secured by a mortgage, deed of trust, or other consensual security interest on a principal residence of a borrower that is (i) a 1- to 4-unit dwelling, or (ii) residential real property that includes a 1- to 4-unit dwelling; and the unpaid principal balance of which was, at the time of origination, not more than the conforming loan limit. The term “Fund” means the Homeowner Assistance Fund established under subsection (c). The term “Secretary” means the Secretary of the Treasury. The term “State” means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands.

(c) Establishment of Fund There is established in the Department of the Treasury a Homeowner Assistance Fund to mitigate financial hardships associated with the coronavirus pandemic by providing such funds as are appropriated by subsection (a) to eligible entities for the purpose of preventing homeowner mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financial hardship after January 21, 2020 , through qualified expenses related to mortgages and housing, which include— mortgage payment assistance; financial assistance to allow a homeowner to reinstate a mortgage or to pay other housing related costs related to a period of forbearance, delinquency, or default; principal reduction; facilitating interest rate reductions; payment assistance for— utilities, including electric, gas, home energy, and water; internet service, including broadband internet access service, as defined in section 8.1(b) of title 47, Code of Federal Regulations (or any successor regulation); homeowner’s insurance, flood insurance, and mortgage insurance; and homeowner’s association, condominium association fees, or common charges; reimbursement of funds expended by a State, local government, or designated entity under subsection (f) during the period beginning on January 21, 2020 , and ending on the date that the first funds are disbursed by the eligible entity under the Homeowner Assistance Fund, for the purpose of providing housing or utility payment assistance to homeowners or otherwise providing funds to prevent foreclosure or post-foreclosure eviction of a homeowner or prevent mortgage delinquency or loss of housing or utilities as a response to the coronavirus disease (COVID) pandemic; and any other assistance to promote housing stability for homeowners, including preventing mortgage delinquency, default, foreclosure, post-foreclosure eviction of a homeowner, or the loss of utility or home energy services, as determined by the Secretary. Not less than 60 percent of amounts made to each eligible entity allocated amounts under subsection (d) or (f) shall be used for qualified expenses that assist homeowners having incomes equal to or less than 100 percent of the area median income for their household size or equal to or less than 100 percent of the median income for the United States, as determined by the Secretary of Housing and Urban Development, whichever is greater. The eligible entity shall prioritize remaining funds to socially disadvantaged individuals.

(d) Allocation of Funds Of any amounts made available under this section, the Secretary shall reserve— to the Department of the Treasury, an amount not to exceed $40, 000, 000 t o a d mini s t er an d o v ersee t h e F u n d, an d t o p ro v i d e t ec hni c a l a ss i s t an ce t oe l i g ib l ee n t i t i es f or t h ecre a t i o nan d im pl e m e n t a t i o n o f St a t e an d t r iba lp ro g r am s t o a d mini s t er a ss i s t an ce f ro m t h e F u n d; an d t o t h e I n s p ec t or G e n er a l o f t h eDe p a r t m e n t o f t h e T re a s u ry, anam o u n tt o n o t e x cee d$ 2,600,000 for oversight of the program under this section. After the application of paragraphs (1), (4), and (5) of this subsection and subject to paragraph (3) of this subsection, the Secretary shall allocate the remaining funds available within the Homeowner Assistance Fund to each State of the United States, the District of Columbia, and the Commonwealth of Puerto Rico based on homeowner need, for such State relative to all States of the United States, the District of Columbia, and the Commonwealth of Puerto Rico, as of March 11, 2021 , which is determined by reference to— the average number of unemployed individuals measured over a period of time not fewer than 3 months and not more than 12 months; and the total number of mortgagors with— mortgage payments that are more than 30 days past due; or mortgages in foreclosure. Each State of the United States, the District of Columbia, and the Commonwealth of Puerto Rico shall receive no less than $50, 000, 000 f or t h e p u r p oseses t ab l i s h e d in (c) 1. T h e S ecre t a rys ha ll a d j u s t o na p ror a t aba s i s t h e am o u n t o f t h e p a y m e n t s f ore a c h St a t eo f t h e U ni t e d St a t es, t h eD i s t r i c t o f C o l u mbia, an d t h e C o mm o n w e a lt h o f P u er t o R i co d e t er min e d u n d er t hi ss u b sec t i o n w i t h o u t re g a r d t o t hi ss u b p a r a g r a p h t o t h ee x t e n t n ecess a ry t oco m pl y w i t h t h ere q u i re m e n t so f s u b p a r a g r a p h (A) . N o tw i t h s t an d in g an yo t h er p ro v i s i o n o f t hi ssec t i o n, o f t h e am o u n t s a pp ro p r ia t e d u n d ers u b sec t i o n (a), t h e S ecre t a rys ha ll reser v e$ 30,000,000 to be disbursed to Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands based on each such territory’s share of the combined total population of all such territories, as determined by the Secretary. For the purposes of this paragraph, population shall be determined based on the most recent year for which data are available from the United States Census Bureau. The Secretary shall allocate funds to any eligible entity designated under subsection (f) pursuant to the requirements of that subsection.

(e) Distribution of funds to States The Secretary shall make payments, beginning not later than 45 days after March 11, 2021 , from amounts allocated under subsection (d) to eligible entities that have notified the Secretary that they request to receive payment from the Fund and that the eligible entity will use such payments in compliance with this section. If a State does not request allocated funds by the 45th day after March 11, 2021 , such State shall not be eligible for a payment from the Secretary pursuant to this section, and the Secretary shall, by the 180th day after March 11, 2021 , reallocate any funds that were not requested by such State among the States that have requested funds by the 45th day after March 11, 2021 . For any such reallocation of funds, the Secretary shall adhere to the requirements of subsection (d), except for paragraph (1), to the greatest extent possible, provided that the Secretary shall also take into consideration in determining such reallocation a State’s remaining need and a State’s record of using payments from the Fund to serve homeowners at disproportionate risk of mortgage default, foreclosure, or displacement, including homeowners having incomes equal to or less than 100 percent of the area median income for their household size or 100 percent of the median income for the United States, as determined by the Secretary of Housing and Urban Development, whichever is greater, and minority homeowners.

(f) Tribal set-aside Notwithstanding any other provision of this section, of the amounts appropriated under subsection (a), the Secretary shall use 5 percent to make payments to entities that are eligible for payments under clauses (i) and (ii) of section 9058a(b)(2)(A) of this title for the purposes described in subsection (c). The Secretary shall allocate the funds set aside under paragraph (1) using the allocation formulas described in clauses (i) and (ii) of section 9058a(b)(2)(A) of this title , and shall make payments of such amounts beginning no later than 45 days after March 11, 2021 , to entities eligible for payment under clauses (i) and (ii) of section 9058a(b)(2)(A) of this title that notify the Secretary that they request to receive payments allocated from the Fund by the Secretary for purposes described under subsection (c) and will use such payments in compliance with this section. Allocations provided under this subsection may be further adjusted as provided by section 9058a(b)(2)(B) of this title .

§ 9059 Protection of collective bargaining agreement

(a) In general Neither the Secretary, nor any other actor, department, or agency of the Federal Government, shall condition the issuance of a loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title on an air carrier’s or eligible business’s implementation 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 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 carrier or eligible business to which the loan or loan guarantee is provided under this part, 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.

§ 9060 Reports

(a) Disclosure of transactions Not later than 72 hours after any transaction by the Secretary under paragraph (1), (2), or (3) of section 9042(b) of this title , the Secretary shall publish on the website of the Department of the Treasury— a plain-language description of the transaction, including the date of application, date of application approval, and identity of the counterparty; the amount of the loan or loan guarantee; the interest rate, conditions, and any other material or financial terms associated with the transaction, if applicable; and a copy of the relevant and final term sheet, if applicable, and contract or other relevant documentation regarding the transaction.

(b) Reports In addition to such reports as are required under section 5302(c) of title 31 , not later than 7 days after the Secretary makes any loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title , the Secretary shall submit to the Chairmen and Ranking Members of the Committee on Banking, Housing, and Urban Affairs and the Committee on Finance of the Senate and the Chairmen and Ranking Members of the Committee on Financial Services and the Committee on Ways and Means of the House of Representatives a report summarizing— an overview of actions taken by the Secretary under paragraph (1), (2) or (3) of section 9042(b) of this title during such period; the actual obligation, expenditure, and disbursements of the funds during such period; and a detailed financial statement with respect to the exercise of authority under paragraph (1), (2) or (3) of section 9042(b) of this title showing— all loans and loan guarantees made, renewed, or restructured; all transactions during such period, including the types of parties involved; the nature of the assets purchased; a description of the vehicles established to exercise such authority; and any or all repayment activity, delinquencies or defaults on loans and loan guarantees issued under paragraph (1), (2) or (3) of section 9042(b) of this title . 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 Secretary shall publish such report on the website of the Department of the Treasury. Every 30 days during such time as a loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title is outstanding, the Secretary shall publish on the website of the Department of the Treasury a report summarizing the information set forth in subparagraph (A). With respect to any program or facility described in paragraph (4) of section 9042(b) of this title , the Board of Governors of the Federal Reserve System shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives such reports as are required to be provided under section 343(3) of title 12 — not later than 7 days after the Board authorizes a new facility or other financial assistance in accordance with section 343(3)(C)(i) of title 12 ; and once every 30 days with respect to outstanding loans or financial assistance in accordance with section 343(3)(C)(ii) of title 12 . Not later than 7 days after the Board of Governors of the Federal Reserve System submits a report under subparagraph (A) to the committees of Congress described 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 semiannual basis, before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives regarding the obligations of the Department of the Treasury and the Federal Reserve System, and transactions entered into, under this Act. This subsection shall have no force or effect after December 31, 2027 .

(d) Program descriptions The Secretary shall post on the website of the Department of the Treasury all criteria, guidelines, eligibility requirements, and application materials for the making of any loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title .

(e) Administrative contracts Not later than 24 hours after the Secretary enters into a contract in connection with the administration of any loan or loan guarantee authorized to be made under paragraph (1), (2), or (3) of section 9042(b) of this title , the Secretary shall post on the website of the Department of the Treasury a copy of the contract.

(f) Government Accountability Office The Comptroller General of the United States shall conduct a study on the loans, loan guarantees, and other investments provided under section 9042 of this title . Not later than 9 months after March 27, 2020 , and annually thereafter through the year succeeding the last year for which loans, loan guarantees, or other investments made under section 9042 of this title are outstanding, the Comptroller General shall submit to the Committee on Financial Services, the Committee on Transportation and Infrastructure, the Committee on Appropriations, and the Committee on the Budget of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs, the Committee on Commerce, Science, and Transportation, the Committee on Appropriations, and the Committee on the Budget of the Senate a report on the loans, loan guarantees, and other investments made under section 9042 of this title .

§ 9061 Direct appropriation

(a) In general Notwithstanding any other provision of law, there is appropriated, out of amounts in the Treasury not otherwise appropriated, to the fund established under section 5302(a)(1) of title 31 , $500,000,000,000 to carry out this part.

(b) Omitted

(c) Clarification On or after January 1, 2021 , any remaining funds made available under section 9042(b) of this title may be used only for— modifications, restructurings, or other amendments of loans, loan guarantees, or other investments in accordance with section 9063(b)(1) of this title ; and exercising any options, warrants, or other investments made prior to January 1, 2021 ; and paying costs and administrative expenses as provided in section 9042(f) of this title . On January 1, 2026 , any funds described in paragraph (1) that are remaining shall be transferred to the general fund of the Treasury to be used for deficit reduction.

§ 9062 Rule of construction

Nothing in this part 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 part and under terms and conditions that are in the interest of the Federal Government. ( Pub. L. 116–136, div. A, title IV, § 4028 , Mar. 27, 2020 , 134 Stat. 497 .)

§ 9063 Termination of authority

(a) In general Except as provided in subsection (b), on December 31, 2020 , the authority provided under this part to make loans, loan guarantees, or other investments shall terminate.

(b) Outstanding Except as provided in paragraph (2), any loan or loan guarantee made under paragraph (1), (2), or (3) of section 9042(b) of this title outstanding on the date described in subsection (a)— may be modified, restructured, or otherwise amended; and may not be forgiven. The duration of any loan or loan guarantee made under section 9042(b)(1) of this title 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.

(c) Federal Reserve programs or facilities After December 31, 2020 , the Board of Governors of the Federal Reserve System and the Federal Reserve banks shall not make any loan, purchase any obligation, asset, security, or other interest, or make any extension of credit through any program or facility established under section 343(3) of title 12 in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 9042(b)(4) of this title , other than a loan submitted, on or before December 14, 2020 , to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan, provided that the Main Street Lending Program purchases a participation interest in such loan on or before January 8, 2021 and under the terms and conditions of the Main Street Lending Program as in effect on the date the loan was submitted to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan. After December 31, 2020 , the Board of Governors of the Federal Reserve System and the Federal Reserve banks— shall not modify the terms and conditions of any program or facility established under section 343(3) of title 12 in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 9042(b)(4) of this title , including by authorizing transfer of such funds to a new program or facility established under section 343(3) of title 12 ; and may modify or restructure a loan, obligation, asset, security, other interest, or extension of credit made or purchased through any such program or facility provided that— the loan, obligation, asset, security, other interest, or extension of credit is an eligible asset or for an eligible business, including an eligible nonprofit organization, each as defined by such program or facility; and the modification or restructuring relates to an eligible asset or single and specific eligible business, including an eligible nonprofit organization, each as defined by such program or facility; and the modification or restructuring is necessary to minimize costs to taxpayers that could arise from a default on the loan, obligation, asset, security, other interest, or extension of credit. Except as provided in subparagraph (B), the Secretary is permitted to use the fund established under section 5302 of title 31 for any purpose permitted under that section. The fund established under section 5302 of title 31 shall not be available for any program or facility established under section 343(3) of title 12 that is the same as any such program or facility in which the Secretary made an investment pursuant to section 9042(b)(4) of this title , except the Term Asset-Backed Securities Loan Facility.

§ 9071 Definitions

Unless otherwise specified, the terms in section 40102(a) of title 49 shall apply to this part, except that— the term “airline catering employee” means an employee who performs airline catering services; the term “airline catering services” means preparation, assembly, or both, of food, beverages, provisions and related supplies for delivery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft; the term “contractor” means— a person that performs, under contract with a passenger air carrier conducting operations under part 121 of title 14, Code of Federal Regulations— catering functions; or 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 loading and unloading of property on aircraft; assistance to passengers under part 382 of title 14, Code of Federal Regulations; security; airport ticketing and check-in functions; ground-handling of aircraft; or aircraft cleaning and sanitization functions and waste removal; or a subcontractor that performs such functions; the term “employee” means an individual, other than a corporate officer, who is employed by an air carrier or a contractor; the term “recall” means the dispatch of a notice by a contractor, via mail, courier, or electronic mail, to an involuntarily furloughed employee notifying the employee that— the employee must, within a specified period of time that is not less than 14 days, elect either— to return to employment or bypass return to employment in accordance with an applicable collective bargaining agreement or, in the absence of a collective bargaining agreement, company policy; or to permanently separate from employment with the contractor; and failure to respond within such time period specified will be deemed to be an election under subparagraph (A)(ii); and the term “Secretary” means the Secretary of the Treasury. ( Pub. L. 116–136, div. A, title IV, § 4111 , Mar. 27, 2020 , 134 Stat. 497 ; Pub. L. 116–260, div. N, title IV, § 412(b) , Dec. 27, 2020 , 134 Stat. 2061 .)

§ 9072 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 air carrier industry workers, the Secretary shall provide financial assistance that shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits to— passenger air carriers, in an aggregate amount up to $25, 000, 000, 000; c a r g o ai rc a rr i ers, in t h e a gg re g a t e am o u n t u pt o$ 4,000,000,000; and contractors, in an aggregate amount up to $3,000,000,000.

(b) Administrative expenses Notwithstanding any other provision of law, the Secretary, may use $67,000,000 of the funds made available under section 9080(a) 1 of this title for costs and administrative expenses associated with providing financial assistance under this part.

§ 9073 Procedures for providing payroll support

(a) Awardable amounts The Secretary shall provide financial assistance under this part— 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 to an air carrier that does not transmit reports 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 September 30, 2019 ; and to a contractor, in an amount that the contractor certifies, using sworn financial statements or other appropriate data, as the amount of wages, salaries, benefits, and other compensation that such contractor paid the employees of such contractor during the period from April 1, 2019 , through September 30, 2019 .

(b) Deadlines and procedures Financial assistance provided to an air carrier or contractor under this part 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 contractor to honor the assurances specified in section 9074 of this title ), as the Secretary determines appropriate. The Secretary shall publish streamlined and expedited procedures not later than 5 days after March 27, 2020 , for air carriers and contractors to submit requests for financial assistance under this part. Not later than 10 days after March 27, 2020 , the Secretary shall make initial payments to air carriers and contractors that submit requests for financial assistance approved by to the Secretary. The Secretary shall determine an appropriate method for timely distribution 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 9072 of this title in order to address any shortfall in assistance that would otherwise be provided under such section.

(d) Audits The Inspector General of the Department of the Treasury shall audit certifications made under subsection (a).

§ 9074 Required assurances

(a) In general To be eligible for financial assistance under this part, 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 prescribe, that the air carrier or contractor shall— refrain from conducting involuntary furloughs or reducing pay rates and benefits until September 30, 2020 ; through September 30, 2021 , ensure that neither 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 contractor or the parent company of the air carrier or contractor that is listed on a national securities exchange; through September 30, 2021 , ensure that the air carrier or contractor shall not pay dividends, or make other capital distributions, with respect to the common stock (or equivalent interest) of the air carrier or contractor; and meet the requirements of sections 9075 and 9076 of this title.

(b) Department of Transportation Authority to condition assistance on continuation of service The Secretary of Transportation is authorized to require, to the extent reasonable and practicable, an air carrier provided financial assistance under this part to maintain scheduled air transportation service, as the Secretary 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 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 maintain well-functioning health care supply chains, including medical devices and supplies, and pharmaceutical supply chains. The authority provided under this subsection shall terminate on March 1, 2022 , and any requirements issued by the Secretary of Transportation under this subsection shall cease to apply after that date.

(c) Continued application If, after December 27, 2020 , a contractor expends any funds made available pursuant to section 9072 of this title and distributed pursuant to section 9073 of this title , the assurances in paragraphs (1) through (3) of subsection (a) shall continue to apply until the dates included in such paragraphs, or the date on which the contractor fully expends such financial assistance, whichever is later. Not later than April 5, 2021 , each contractor described in section 9071(3)(A)(i) of this title that has received funds pursuant to such section 9072 of this title shall report to the Secretary on the amount of such funds that the contractor has expended through March 31, 2021 . If the contractor has expended an amount that is less than 100 percent of the total amount of funds the contractor received under such section, the Secretary shall initiate an action to recover any funds that remain unexpended as of April 30, 2021 .

(d) Recall of employees Subject to paragraph (2), any contractor that has unspent financial assistance provided under this part as of December 27, 2020 , and conducted involuntary furloughs or reduced pay rates and benefits, between March 27, 2020 , and the date on which the contractor entered into an agreement with the Secretary related to financial assistance under this part, shall recall (as defined in section 9071 of this title ) employees who were involuntarily furloughed during such period by not later than January 4, 2021 . The Secretary of the Treasury shall waive the requirement under paragraph (1) for a contractor to recall employees if the contractor certifies that the contractor has or will have insufficient remaining financial assistance provided under this part to keep recalled employees employed for more than two weeks upon returning to work. The Inspector General of the Department of the Treasury shall audit certifications made under paragraph (2).

§ 9075 Protection of collective bargaining agreement

(a) In general Neither the Secretary, nor any other actor, department, or agency of the Federal Government, shall condition the issuance of financial assistance under this part on an air carrier’s or contractor’s implementation of measures to enter into negotiations with the certified bargaining representative of a craft or class of employees 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 carrier or contractor to which financial assistance is provided under this part, 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 financial assistance and ending on September 30, 2020 .

§ 9076 Limitation on certain employee compensation

(a) In general The Secretary may only provide financial assistance under this part to an air carrier or contractor after such carrier or contractor enters into an 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 $425, 000 in c a l e n d a rye a r 2019 (o t h er t hanan e m pl oyee w h oseco m p e n s a t i o ni s d e t er min e d t h ro ug han e x i s t in g co ll ec t i v e ba r g ainin g a g ree m e n t e n t ere d in t o p r i or t o M a rc h 27, 2020) — w i ll rece i v e f ro m t h e ai rc a rr i erorco n t r a c t or t o t a l co m p e n s a t i o n w hi c h e x cee d s, d u r in g an y 12 co n sec u t i v e m o n t h so f s u c h 2 - ye a r p er i o d, t h e t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e ai rc a rr i erorco n t r a c t or in c a l e n d a rye a r 2019; w i ll rece i v e f ro m t h e ai rc a rr i erorco n t r a c t orse v er an ce p a yoro t h er b e n e f i t s u p o n t er mina t i o n o f e m pl oy m e n tw i t h t h e ai rc a rr i erorco n t r a c t or w hi c h e x cee d s tw i ce t h e ma x im u m t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e ai rc a rr i erorco n t r a c t or in c a l e n d a rye a r 2019; an d n oo ff i cerore m pl oyeeo f t h ee l i g ib l e b u s in ess w h ose t o t a l co m p e n s a t i o n e x cee d e d$ 3,000,000 in calendar year 2019 may receive during any 12 consecutive months of such period total compensation in excess of the sum of— $3, 000, 000; an d 50 p erce n t o f t h ee x cesso v er$ 3,000,000 of the total compensation received by the officer or employee from the eligible business in calendar 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.

§ 9077 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 part which, in the sole determination of the Secretary, provide appropriate compensation to the Federal Government for the provision of the financial assistance. ( Pub. L. 116–136, div. A, title IV, § 4117 , Mar. 27, 2020 , 134 Stat. 500 .)

§ 9078 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 Services 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 and contractors under this part, including a description of any financial assistance provided.

(b) Update Not later than the last day of the 1-year period following March 27, 2020 , the Secretary shall update and submit to the Committee on Transportation and the Committee on Financial Services and Infrastructure 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 the report described in subsection (a).

§ 9079 Coordination

In implementing this part the Secretary shall coordinate with the Secretary of Transportation. ( Pub. L. 116–136, div. A, title IV, § 4119 , Mar. 27, 2020 , 134 Stat. 501 .)

§ 9080 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 part. ( Pub. L. 116–136, div. A, title IV, § 4120 , Mar. 27, 2020 , 134 Stat. 501 .)

§ 9091 Definitions

Unless otherwise specified, the definitions in section 40102(a) of title 49 shall apply to this part, except that in this part— the term “catering functions” means preparation, assembly, or both, of food, beverages, provisions and related supplies for delivery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft; the term “contractor” means— a person that performs, under contract with a passenger air carrier conducting operations under part 121 of title 14, Code of Federal Regulations— catering functions; or 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 loading and unloading of property on aircraft, assistance to passengers under part 382 of title 14, Code of Federal Regulations, security, airport ticketing and check-in functions, ground-handling of aircraft, or aircraft cleaning and sanitization functions and waste removal; or a subcontractor that performs such functions; the term “employee” means an individual, other than a corporate officer, who is employed by an air carrier or a contractor; the term “recall” means the dispatch of a notice by a passenger air carrier or a contractor, via mail, courier, or electronic mail, to an involuntarily furloughed employee notifying the employee that— the employee must, within a specified period of time, elect either— to return to employment or bypass return to employment, in accordance with an applicable collective bargaining agreement or, in the absence of a collective bargaining agreement, company policy; or to permanently separate from employment with the passenger air carrier or contractor; and failure to respond within such time period specified shall be considered an election under subparagraph (A)(ii); the term “returning employee” means an involuntarily furloughed employee who has elected to return to employment pursuant to a recall notice; and the term “Secretary” means the Secretary of the Treasury. ( Pub. L. 116–260, div. N, title IV, § 401 , Dec. 27, 2020 , 134 Stat. 2052 .)

§ 9092 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 air carrier industry workers, the Secretary shall provide financial assistance that shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits to— passenger air carriers, in an aggregate amount up to $15, 000, 000, 000; an d co n t r a c t ors, inana gg re g a t e am o u n t u pt o$ 1,000,000,000.

(b) Administrative expenses Notwithstanding any other provision of law, the Secretary may use funds made available under section 9072(b) of this title for costs and administrative expenses associated with providing financial assistance under this part.

§ 9093 Procedures for providing payroll support

(a) Awardable amounts The Secretary shall provide financial assistance under this part— to a passenger air carrier required to file reports pursuant to part 241 of title 14, Code of Federal Regulations, as of March 27, 2020 , in an amount equal to— the amount such air carrier was approved to receive (without taking into account any pro rata reduction) under section 9073 of this title ; or at the request of such air carrier, or in the event such air carrier did not receive assistance under section 9073 of this title , the amount of the salaries and benefits reported by the air carrier to the Department of Transportation pursuant to such part 241, for the period from October 1, 2019 , through March 31, 2020 ; to a passenger air carrier that was not required to transmit reports under such part 241, as of March 27, 2020 , in an amount equal to— the amount such air carrier was approved to receive (without taking into account any pro rata reduction) under section 9073 of this title , plus an additional 15 percent of such amount; at the request of such air carrier, provided such air carrier received assistance under section 9073 of this title , the sum of— the amount that such air carrier certifies, using sworn financial statements or other appropriate data, as the amount of total salaries and related fringe benefits that such air carrier incurred and would be required to be reported to the Department of Transportation pursuant to such part 241, if such air carrier was required to transmit such information during the period from April 1, 2019 , through September 30, 2019 ; and an additional amount equal to the difference between the amount certified under clause (i) and the amount the air carrier received under section 9073 of this title ; or in the event such air carrier did not receive assistance under section 9073 of this title , an amount that such an air carrier certifies, using sworn financial statements or other appropriate data, as the amount of total salaries and related fringe benefits that such air carrier incurred and would be required to be reported to the Department of Transportation pursuant to such part 241, if such air carrier was required to transmit such information during the period from October 1, 2019 , through March 31, 2020 ; and to a contractor in an amount equal to— the amount such contractor was approved to receive (without taking into account any pro rata reduction) under section 9073 of this title ; or in the event such contractor did not receive assistance under section 9073 of this title , an amount that the contractor certifies, using sworn financial statements or other appropriate data, as the amount of wages, salaries, benefits, and other compensation that such contractor paid the employees of such contractor during the period from October 1, 2019 , through March 31, 2020 .

(b) Deadlines and procedures Financial assistance provided to a passenger air carrier or contractor under this part shall— be, to the maximum extent practicable, in the same form and on the same terms and conditions (including requirements for audits and the clawback of any financial assistance provided upon failure by a passenger air carrier or contractor to honor the assurances specified in section 9094 of this title ), as agreed to by the Secretary and the recipient for assistance received under section 9073 of this title , except if inconsistent with this part; or in the event such a passenger air carrier or a contractor did not receive assistance under section 9073 of this title , be, to the maximum extent practicable, in the same form and on the same terms and conditions (including requirements for audits and the clawback of any financial assistance provided upon failure by a passenger air carrier or contractor to honor the assurances specified in section 9094 of this title ), as agreed to by the Secretary and similarly situated recipients of assistance under section 9073 of this title . The Secretary shall, to the maximum extent practicable, publish streamlined and expedited procedures not later than 5 days after December 27, 2020 , for passenger air carriers and contractors to submit requests for financial assistance under this part. Not later than 10 days after December 27, 2020 , the Secretary shall make initial payments to passenger air carriers and contractors that submit requests for financial assistance approved by the Secretary. The Secretary shall determine an appropriate method for the timely distribution of payments to passenger 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 reductions The Secretary shall have the authority to reduce, on a pro rata basis, the amounts due to passenger air carriers and contractors under subsection (a) in order to address any shortfall in assistance that would otherwise be provided under such subsection.

(d) Audits The Inspector General of the Department of the Treasury shall audit certifications made under subsection (a).

§ 9094 Required assurances

(a) In general To be eligible for financial assistance under this part, a passenger air carrier or a contractor shall enter into an agreement with the Secretary, or otherwise certify in such form and manner as the Secretary shall prescribe, that the passenger air carrier or contractor shall— refrain from conducting involuntary furloughs or reducing pay rates and benefits until— with respect to passenger air carriers, March 31, 2021 ; or with respect to contractors, March 31, 2021 , or the date on which the contractor expends such financial assistance, whichever is later; ensure that neither the passenger air carrier or contractor nor any affiliate of the passenger air carrier or contractor may, in any transaction, purchase an equity security of the passenger air carrier or contractor or the parent company of the passenger air carrier or contractor that is listed on a national securities exchange through— with respect to passenger air carriers, March 31, 2022 ; or with respect to contractors, March 31, 2022 , or the date on which the contractor expends such financial assistance, whichever is later; ensure that the passenger air carrier or contractor shall not pay dividends, or make other capital distributions, with respect to common stock (or equivalent interest) of the air carrier or contractor through— with respect to passenger air carriers, March 31, 2022 ; or with respect to contractors, March 31, 2022 , or the date on which the contractor expends such financial assistance, whichever is later; and meet the requirements of sections 9095 and 9096 of this title.

(b) Recalls of employees An agreement or certification under this section shall require a passenger air carrier or contractor to perform the following actions: In the case of a passenger air carrier or contractor that received financial assistance under title IV of the CARES Act [ 15 U.S.C. 9041 et seq., 9071 et seq.] — recall (as defined in section 9091 of this title ), not later than 72 hours after executing such agreement or certification, any employees involuntarily furloughed by such passenger air carrier or contractor between October 1, 2020 , and the date such passenger air carrier or contractor enters into an agreement with the Secretary with respect to financial assistance under this part; compensate returning employees for lost pay and benefits (offset by any amounts received by the employee from a passenger air carrier or contractor as a result of the employee’s furlough, including, but not limited to, furlough pay, severance pay, or separation pay) between— in the case of a passenger air carrier, December 1, 2020 , and the date on which such passenger air carrier enters into an agreement with the Secretary with respect to financial assistance under this part; or in the case of a contractor, December 27, 2020 , and the date on which such contractor enters into an agreement with the Secretary with respect to financial assistance under this part; and restore the rights and protections for such returning employees as if such employees had not been involuntarily furloughed. In the case of a passenger air carrier or contractor that did not receive financial assistance under title IV of the CARES Act [ 15 U.S.C. 9041 et seq., 9071 et seq.] to— recall (as defined in section 9091 of this title ), within 72 hours after executing such agreement or certification, any employees involuntarily furloughed by such passenger air carrier or contractor between March 27, 2020 , and the date such passenger air carrier or contractor enters into an agreement with the Secretary for financial assistance under this part; compensate returning employees under this paragraph for lost pay and benefits (offset by any amounts received by the employee from a passenger air carrier or contractor as a result of the employee’s furlough, including, but not limited to, furlough pay, severance pay, or separation pay) between— in the case of a passenger air carrier, December 1, 2020 , and the date such passenger air carrier enters into an agreement with the Secretary for financial assistance under this part; or in the case of a contractor, December 27, 2020 , and the date on which such contractor enters into an agreement with the Secretary with respect to financial assistance under this part; and restore the rights and protections for such returning employees as if such employees had not been involuntarily furloughed.

§ 9095 Protection of collective bargaining agreements

(a) In general Neither the Secretary, nor any other actor, department, or agency of the Federal Government, shall condition the issuance of financial assistance under this part on a passenger air carrier’s or contractor’s implementation of measures to enter into negotiations with the certified bargaining representative of a craft or class of employees of the passenger 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) Passenger air carrier period of effect With respect to any passenger air carrier to which financial assistance is provided under this part, this section shall be in effect with respect to the passenger air carrier for the period beginning on the date on which the passenger air carrier is first issued such financial assistance and ending on March 31, 2021 .

(c) Contractor period of effect With respect to any contractor to which financial assistance is provided under this part, this section shall be in effect with respect to the contractor beginning on the date on which the contractor is first issued such financial assistance and ending on March 31, 2021 , or until the date on which all funds are expended, whichever is later.

§ 9096 Limitation on certain employee compensation

(a) In general The Secretary may only provide financial assistance under this part to a passenger air carrier or contractor after such carrier or contractor enters into an agreement with the Secretary that provides that, during the 2-year period beginning October 1, 2020 , and ending October 1, 2022 — no officer or employee of the passenger air carrier or contractor whose total compensation exceeded $425, 000 in c a l e n d a rye a r 2019 (o t h er t hanan e m pl oyee w h oseco m p e n s a t i o ni s d e t er min e d t h ro ug han e x i s t in g co ll ec t i v e ba r g ainin g a g ree m e n t e n t ere d in t o p r i or t oDece mb er 27, 2020) w i ll rece i v e f ro m t h e p a sse n g er ai rc a rr i erorco n t r a c t or — t o t a l co m p e n s a t i o n t ha t e x cee d s, d u r in g an y 12 co n sec u t i v e m o n t h so f s u c h 2 - ye a r p er i o d, t h e t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e p a sse n g er ai rc a rr i erorco n t r a c t or in c a l e n d a rye a r 2019; orse v er an ce p a yoro t h er b e n e f i t s u p o n t er mina t i o n o f e m pl oy m e n tw i t h t h e p a sse n g er ai rc a rr i erorco n t r a c t or w hi c h e x cee d s tw i ce t h e ma x im u m t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e p a sse n g er ai rc a rr i erorco n t r a c t or in c a l e n d a rye a r 2019; an d n oo ff i cerore m pl oyeeo f t h e p a sse n g er ai rc a rr i erorco n t r a c t or w h ose t o t a l co m p e n s a t i o n e x cee d e d$ 3,000,000 in calendar year 2019 may receive during any 12 consecutive months of such period total compensation in excess of the sum of— $3, 000, 000; an d 50 p erce n t o f t h ee x cesso v er$ 3,000,000 of the total compensation received by the officer or employee from the passenger air carrier or contractor in calendar 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 a passenger air carrier or contractor to an officer or employee of the passenger air carrier or contractor.

§ 9097 Minimum air service guarantees

(a) In general The Secretary of Transportation is authorized to require, to the extent reasonable and practicable, an air carrier provided financial assistance under this part to maintain scheduled air transportation, as the Secretary of Transportation determines necessary, to ensure services to any point served by that air carrier before March 1, 2020 .

(b) Required considerations When considering 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, the need to maintain well-functioning health care supply chains, including medical devices and supplies, and pharmaceutical supply chains.

(c) Sunset The authority provided under this section shall terminate on March 1, 2022 , and any requirements issued by the Secretary of Transportation under this section shall cease to apply after that date.

(d) Sense of Congress It is the sense of Congress that, when implementing this section, the Secretary of Transportation should take into consideration the following: A number of airports and communities have lost air service as a result of consolidated operations by covered air carriers, as permitted by the Department of Transportation, including smaller airports that are located near larger airports. Airports covering common points, as determined by the Department of Transportation, do not align with the grouping commonly used by many air carriers, other Federal agencies, and distribution channels used by consumers to purchase air travel. The demographic, geographic, economic, and other characteristics of an area and affected communities when determining whether consolidated operations at a single airport effectively serve the needs of the point. Maintaining a robust air transportation system, including maintaining air service to airports throughout the United States, plays an important role in the effective distribution of a coronavirus vaccine. The objections from community respondents on whether a specific airport should or should not be included in a consolidated point, including those objections noting the importance of the required considerations set forth in subsection (b).

§ 9098 Taxpayer protection

(a) CARES Act assistance recipients With respect to a recipient of financial assistance under section 4113 of the CARES Act ( 15 U.S.C. 9073 ) that receives financial assistance under this part, the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient that are, to the maximum extent practicable, in the same form and amount, and under the same terms and conditions, as agreed to by the Secretary and such recipient to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

(b) Other applicants With respect to a recipient of financial assistance under this part that did not receive financial assistance under section 4113 of the CARES Act ( 15 U.S.C. 9073 ), the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient in a form and amount that are, to the maximum extent practicable, under the same terms and conditions as agreed to by the Secretary and similarly situated recipients of financial assistance under such section to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

§ 9099 Reports

(a) Report Not later than May 1, 2021 , the Secretary shall submit to the Committee on Transportation and Infrastructure and the Committee on Financial Services 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 passenger air carriers and contractors under this part, that includes— a description of any financial assistance provided to passenger air carriers under this part; any audits of passenger air carriers or contractors receiving financial assistance under this part; any reports filed by passenger air carriers or contractors receiving financial assistance under this part; any instances of non-compliance by passenger air carriers or contractors receiving financial assistance under this part with the requirements of this part or agreements entered into with the Secretary to receive such financial assistance; and information relating to any clawback of any financial assistance provided to passenger air carriers or contractors under this part.

(b) Internet updates The Secretary shall update the website of the Department of the Treasury, at minimum, on a weekly basis as necessary to reflect new or revised distributions of financial assistance under this part with respect to each passenger air carrier or contractor that receives such assistance, the identification of any applicant that applied for financial assistance under this part, and the date of application for such assistance.

(c) Supplemental update Not later than the last day of the 1-year period following December 27, 2020 , the Secretary shall update and submit to the Committee on Transportation and Infrastructure and the Committee on Financial Services 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, the report submitted under subsection (a).

(d) Protection of certain data The Secretary may withhold information that would otherwise be required to be made available under this section only if the Secretary determines to withhold the information in accordance with section 552 of title 5 .

§ 9100 Coordination

In implementing this part, the Secretary shall coordinate with the Secretary of Transportation. ( Pub. L. 116–260, div. N, title IV, § 410 , Dec. 27, 2020 , 134 Stat. 2060 .)

§ 9101 Funding

There is appropriated, out of amounts in the Treasury not otherwise appropriated, $16,000,000,000 to carry out this part, to remain available until expended. ( Pub. L. 116–260, div. N, title IV, § 411 , Dec. 27, 2020 , 134 Stat. 2060 .)

§ 9111 Assistance for providers of transportation services affected by COVID–19

(a) Definitions In this section: The term “covered period”, with respect to a provider of transportation services, means the period— beginning on December 27, 2020 ; and ending on the later of— March 31, 2021 ; or the date on which all funds provided to the provider of transportation services under subsection (c) are expended. The term “COVID–19” means the Coronavirus Disease 2019. The term “payroll costs” means— any payment to an employee of compensation in the form of— salary, wage, commission, or similar compensation; payment of a cash tip or an equivalent; payment for vacation, parental, family, medical, or sick leave; payment required for the provision of group health care or other group insurance benefits, including insurance premiums; payment of a retirement benefit; payment of a State or local tax assessed on employees with respect to compensation; or paid administrative leave; and any payment of compensation to, or income of, a sole proprietor or independent contractor— that is— a wage; a commission; income; net earnings from self-employment; or similar compensation; and in an amount equal to not more than $100, 000 d u r in g 1 c a l e n d a rye a r, a s p ror a t e df or t h eco v ere d p er i o d . T h e t er m “ p a yro ll cos t s ” d oes n o t in c l u d e — an yco m p e n s a t i o n o f anin d i v i d u a l e m pl oyee in e x cesso f anann u a l s a l a ryo f$ 100,000, as prorated for the covered period; any tax imposed or withheld under chapter 21, 22, or 24 of title 26 during the covered period; any compensation of an employee whose principal place of residence is outside the United States; any qualified sick leave wages for which a credit is allowed under section 7001 of the Families First Coronavirus Response Act ( 26 U.S.C. 3111 note; Public Law 116–127 ); any qualified family leave wages for which a credit is allowed under section 7003 of that Act ( 26 U.S.C. 3111 note; Public Law 116–127 ); or any bonus, raise in excess of inflation, or other form of additional employee compensation. The term “provider of transportation services” means an entity that— is established or organized— in the United States; or pursuant to Federal law; has significant operations, and a majority of employees based, in the United States; was in operation on March 1, 2020 ; and is the operator of— a vessel of the United States (as defined in section 116 of title 46 ) that is— a passenger vessel (as defined in section 2101 of that title) carrying fewer than 2,400 passengers; a small passenger vessel (as defined in section 2101 of that title); or a vessel providing pilotage services and regulated by a State in accordance with chapter 85 of that title; a company providing transportation services using a bus characterized by an elevated passenger deck located over a baggage compartment (commonly known as an “over-the-road bus”), including local and intercity fixed-route service, commuter service, and charter or tour service (including tour or excursion service that includes features in addition to bus transportation, such as meals, lodging, admission to points of interest or special attractions, or the services of a guide); a company providing transportation services using a school bus (as defined in section 571.3 of title 49, Code of Federal Regulations (or successor regulations)); or any other passenger transportation service company subject to regulation by the Department of Transportation as the Secretary, in consultation with the Secretary of Transportation, determines to be appropriate. The term “Secretary” means the Secretary of the Treasury.

(b) Funding Out of any funds in the Treasury not otherwise appropriated, there are appropriated to provide grants to eligible providers of transportation services under this section, $2,000,000,000 for fiscal year 2021, to remain available until expended.

(c) Provision of assistance The Secretary, in consultation with the Secretary of Transportation, shall use the amounts made available under subsection (b) to provide grants to eligible providers of transportation services described in paragraph (2) that certify to the Secretary that the providers of transportation services have experienced a revenue loss of 25 percent or more, on an annual basis, as a direct or indirect result of COVID–19. An eligible provider of transportation services referred to in paragraph (1) is— a provider of transportation services that, on March 1, 2020 — had 500 or fewer full-time, part-time, or temporary employees; and was not a subsidiary, parent, or affiliate of any other entity with a combined total workforce of more than 500 full-time, part-time, or temporary employees; or a provider of transportation services that— on March 1, 2020 , had more than 500 full-time, part-time, or temporary employees; and has not received assistance under paragraph (1), (2), or (3) of section 9042(b) of this title , or subtitle B of title IV of division A, 1 of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ; 134 Stat. 281 ) [ 15 U.S.C. 9071 et seq.]. A provider of transportation services that has entered into or maintains a contract or agreement described in clause (ii) shall not be determined to be ineligible for assistance under this subsection on the basis of that contract or agreement, subject to clause (iv). A contract or agreement referred to in clause (i) is a contract or agreement for transportation services that is supported by a public entity using funds received under the Emergency Appropriations for Coronavirus Health Response and Agency Operations (division B of Public Law 116–136 ; 134 Stat. 505 ). The Secretary may reduce the amount of assistance available under this subsection to a provider of transportation services described in clause (i) based on the amount of funds provided under this section or the Emergency Appropriations for Coronavirus Health Response and Agency Operations (division B of Public Law 116–136 ; 134 Stat. 505 ) that have supported a contract or agreement described in clause (ii) to which the provider of transportation services is a party. A provider of transportation services that has entered into or maintains a contract or agreement described in clause (ii), and that applies for assistance under this subsection, shall submit to the Secretary a notice describing the contract or agreement, including the amount of funds provided for the contract or agreement under this subsection or the Emergency Appropriations for Coronavirus Health Response and Agency Operations (division B of Public Law 116–136 ; 134 Stat. 505 ). In determining the amount of assistance to be provided to an eligible provider of transportation services under this subsection, the Secretary shall take into consideration information provided by the provider of transportation services, including— the amount of debt owed by the provider of transportation services on major equipment, if any; other sources of Federal assistance provided to the provider of transportation services, if any; and such other information as the Secretary may require. The Secretary shall ensure that the amount of assistance provided to a provider of transportation services under this subsection, when combined with any other Federal assistance provided in response to COVID–19 under the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ; 134 Stat. 281 ), the Paycheck Protection Program and Health Care Enhancement Act ( Public Law 116–139 ; 134 Stat. 620 ), or any other provision of law, does not exceed the total amount of revenue earned by the provider of transportation services during calendar year 2019. A provider of transportation services seeking assistance under this subsection shall submit to the Secretary— documentation describing the total amount of revenue earned by the provider of transportation services during calendar year 2019; and a certification that the amount of assistance sought under this subsection, when combined with any other Federal assistance described in clause (i), does not exceed the total amount of revenue earned by the provider of transportation services during calendar year 2019. The amounts made available under subsection (b) shall be provided to eligible providers of transportation services in the form of grants. The Secretary shall ensure equal access to the assistance provided under this section to eligible providers of transportation services that are small, minority-owned, and women-owned businesses. As a condition of receipt of assistance under this subsection, the Secretary shall require that a provider of transportation services shall agree— subject to paragraph (7)— to commence using the funds, on a priority basis and to the extent the funds are available, to maintain through the applicable covered period, expenditures on payroll costs for all employees as of December 27, 2020 , after making any adjustments required for— retirement; or voluntary employee separation; not to impose, during the covered period— any involuntary furlough; or any reduction in pay rates or benefits for nonexecutive employees; and to recall or rehire any employees laid off, furloughed, or terminated after March 27, 2020 , to the extent warranted by increased service levels; to return to the Secretary any funds received under this subsection that are not used by the provider of transportation services by the date that is 1 year after the date of receipt of the funds; and to examine the anticipated expenditure of the funds by the provider of transportation services for the purposes described in subparagraph (A) not less frequently than once every 90 days after the date of receipt of the funds. The requirement described in paragraph (6)(A)(iii) shall not apply to a provider of transportation services until the later of— the date that is 30 days after the date of receipt of the funds; and the date that is 90 days after December 27, 2020 . As a condition of receipt of a grant under this subsection, the Secretary shall require that, except as provided in subparagraph (B), a provider of transportation services shall agree to use an amount equal to not less than 60 percent of the funds on payroll costs of the provider of transportation services. Subparagraph (A) shall not apply to a provider of transportation services if the provider of transportation services certifies to the Secretary that, after making any adjustments required for retirement or voluntary employee separation— each nonseasonal employee on the payroll of the provider of transportation services on January 1, 2020 — if laid off, furloughed, or terminated by the provider of transportation services as described in paragraph (6)(A)(iii), is rehired, or has been offered rehire, by the provider of transportation services; and if rehired under clause (i) or subject to a reduction in salary before the date of receipt by the provider of transportation services of assistance under this subsection, receives not less than 100 percent of the previous salary of the employee; the provider of transportation services— is staffed at a level of full-time equivalent, seasonal employees, on a monthly basis, that is greater than or equivalent to the level at which the provider of transportation services was staffed with full-time equivalent, seasonal employees on a monthly basis during calendar year 2019; is offering priority in rehiring to seasonal employees that were laid off, furloughed, terminated, or not offered rehire in calendar year 2020, as the provider of transportation services achieves staffing at the level described in subclause (I); and offers any seasonal employee rehired under subclause (II) or subject to a reduction in salary before the date of receipt by the provider of transportation services of assistance under this subsection not less than 100 percent of the previous salary of the employee; and the provider of transportation services will fully cover, through the applicable covered period, all payroll costs associated with the staffing requirements described in clauses (i) and (ii). A grant provided under this section shall be in such form, subject to such terms and conditions, and contain such covenants, representations, warranties, and requirements (including requirements for audits) as the Secretary determines to be appropriate in accordance with this section.

(d) Eligible activities Subject to the priority described in subsection (c)(6)(A), a provider of transportation services shall use assistance provided under subsection (c) only for— the payment of payroll costs; the acquisition of services, equipment, including personal protective equipment, and other measures needed to protect workers and customers from COVID–19; continued operations and maintenance during the applicable covered period of existing capital equipment and facilities— including rent, leases, insurance, and interest on regularly scheduled debt service; but not including any prepayment of, or payment of principal on, a debt obligation, except for any principal on a debt obligation accrued by the provider of transportation services directly to maintain the expenditures of the provider of transportation services on payroll costs throughout the COVID–19 pandemic; or the compensation of returning employees for lost pay and benefits during the COVID–19 pandemic, subject to subsection (e). The use of assistance provided under subsection (c) for the compensation of returning employees under paragraph (1)(D) shall be counted toward the required amount of grants to be used on payroll costs under subsection (c)(6)(A).

(e) Compensation of returning employees Notwithstanding any other provision of law, any compensation provided to a returning employee under subsection (d)(1)(D)— shall be offset by— any amounts received by the employee from the provider of transportation services as a result of the layoff, furlough, or termination of the employee or any failure to hire the employee for seasonal employment during calendar year 2020, including— furlough pay; severance pay; or separation pay; and any amounts the employee received from unemployment insurance; and shall not— be considered an overpayment for purposes of any State or Federal unemployment law; or be subject to any overpayment recovery efforts by a State agency (as defined in section 205 of the Federal-State Extended Unemployment Compensation Act of 1970 (U.S.C. 3304 note 2 )).

(f) Administrative provisions The Secretary may take such actions as the Secretary determines to be necessary to carry out this section, including— using direct hiring authority to hire employees to administer this section; entering into contracts, including contracts for services authorized by this section; and issuing such regulations and other guidance as may be necessary or appropriate to carry out the purposes of this section. Of the funds made available under this section, not more than $50,000,000 may be used by the Secretary for administrative expenses to carry out this section. The funds made available under this section shall remain available for obligation until the date that is 3 years after December 27, 2020 .

§ 9121 Relief for airports

(a) In general In addition to amounts otherwise available, there is appropriated for fiscal year 2021, out of any funds in the Treasury not otherwise appropriated, $8,000,000,000, to remain available until September 30, 2024 , for assistance to sponsors of airports, as such terms are defined in section 47102 of title 49 , to be made available to prevent, prepare for, and respond to coronavirus. Amounts made available under this section— may not be used for any purpose not directly related to the airport; and may not be provided to any airport that was allocated in excess of 4 years of operating funds to prevent, prepare for, and respond to coronavirus in fiscal year 2020.

(b) Allocations The following terms shall apply to the amounts made available under this section: Not more than $6, 492, 000, 000 s ha ll b e ma d e a v ai l ab l e f or p r ima ry ai r p or t s, a ss u c h t er mi s d e f in e d in sec t i o n 47102 o f t i tl e 49, an d cer t ain c a r g o ai r p or t s, f orcos t sre l a t e d t oo p er a t i o n s, p erso nn e l, c l e anin g, s ani t i z a t i o n, jani t or ia l ser v i ces, co mba t in g t h es p re a d o f p a t h o g e n s a tt h e ai r p or t, an dd e b t ser v i ce p a y m e n t s . A m o u n t s ma d e a v ai l ab l e u n d er t hi s p a r a g r a p h — s ha ll n o t b es u bj ec tt o t h ere d u ce d a pp or t i o nm e n t s u n d ersec t i o n 47114 (f) o f t i tl e 49; s ha ll f i rs t b e a pp or t i o n e d a sse t f or t hin sec t i o n s 47114 (c) (1) (A), 47114 (c) (1) (C) (i), 147114 (c) (1) (C) (ii), 147114 (c) (2) (A), 47114 (c) (2) (B), an d 47114 (c) (2) (E) 1 o f t i tl e 49; an d s ha ll n o t b es u bj ec tt o ama x im u ma pp or t i o nm e n tl imi t se t f or t hin sec t i o n 47114 (c) (1) (B) o f t i tl e 49. A n y am o u n t re mainin g a f t er d i s t r ib u t i o n u n d ers u b p a r a g r a p h (B) s ha ll b e d i s t r ib u t e d t o t h es p o n soro f e a c h p r ima ry ai r p or t (a ss u c h t er mi s d e f in e d in sec t i o n 47102 o f t i tl e 49) ba se d o n e a c h s u c h p r ima ry ai r p or t ’ s p a sse n g ere n pl an e m e n t sco m p a re d t o t h e t o t a lp a sse n g ere n pl an e m e n t so f a ll s u c h p r ima ry ai r p or t s in c a l e n d a rye a r 2019. N o t m ore t han$ 608,000,000 allocated under subsection (a)(1) shall be available to pay a Federal share of 100 percent of the costs for any grant awarded in fiscal year 2021, or in fiscal year 2020 with less than a 100-percent Federal share, for an airport development project (as such term is defined in section 47102 of title 49 ). Any amount remaining under this paragraph shall be distributed as described in paragraph (1)(C). Not more than $100, 000, 000 s ha ll b e ma d e a v ai l ab l e f or g e n er a l a v ia t i o nan d co mm erc ia l ser v i ce ai r p or t s t ha t a re n o tp r ima ry ai r p or t s (a ss u c h t er m s a re d e f in e d in sec t i o n 47102 o f t i tl e 49) f orcos t sre l a t e d t oo p er a t i o n s, p erso nn e l, c l e anin g, s ani t i z a t i o n, jani t or ia l ser v i ces, co mba t in g t h es p re a d o f p a t h o g e n s a tt h e ai r p or t, an dd e b t ser v i ce p a y m e n t s . A m o u n t s ma d e a v ai l ab l e u n d er t hi s p a r a g r a p h s ha ll b e a pp or t i o n e d t oe a c hn o n - p r ima ry ai r p or t ba se d o n t h ec a t e g or i es p u b l i s h e d in t h e m os t c u rre n tN a t i o na lPl an o f I n t e g r a t e d A i r p or tS ys t e m s, re f l ec t in g t h e p erce n t a g eo f t h e a gg re g a t e p u b l i s h e d e l i g ib l e d e v e l o p m e n t cos t s f ore a c h s u c h c a t e g ory, an d t h e n d i v i d in g t h e a ll oc a t e df u n d se v e n l y am o n g t h ee l i g ib l e ai r p or t s in e a c h c a t e g ory, ro u n d in gu pt o t h e n e a res tt h o u s an dd o ll a rs . A n y am o u n t re mainin gu n d er t hi s p a r a g r a p h s ha ll b e d i s t r ib u t e d a s d escr ib e d in p a r a g r a p h (1) (C) . N o t m ore t han$ 800,000,000 shall be made available for sponsors of primary airports to provide relief from rent and minimum annual guarantees to airport concessions, of which at least $640, 000, 000 s ha ll b e a v ai l ab l e t o p ro v i d ere l i e f t oe l i g ib l es ma ll ai r p or t co n cess i o n s an d o f w hi c ha tl e a s t$ 160,000,000 shall be available to provide relief to eligible large airport concessions located at primary airports. The amounts made available for each set-aside in this paragraph shall be distributed to the sponsor of each primary airport (as such term is defined in section 47102 of title 49 ) based on each such primary airport’s passenger enplanements compared to the total passenger enplanements of all such primary airports in calendar year 2019. As a condition of approving a grant under this paragraph— the sponsor shall provide such relief from March 21, 2021 , until the sponsor has provided relief equaling the total grant amount, to the extent practicable and to the extent permissible under State laws, local laws, and applicable trust indentures; and for each set-aside, the sponsor shall provide relief from rent and minimum annual guarantee obligations to each eligible airport concession in an amount that reflects each eligible airport concession’s proportional share of the total amount of the rent and minimum annual guarantees of those eligible airport concessions at such airport.

(c) Administration The Administrator of the Federal Aviation Administration may retain up to 0.1 percent of the funds provided under this section to fund the award of, and oversight by the Administrator of, grants made under this section. As a condition for receiving funds provided under this section, an airport shall continue to employ, through September 30, 2021 , at least 90 percent of the number of individuals employed (after making adjustments for retirements or voluntary employee separations) by the airport as of March 27, 2020 . The Secretary shall waive the workforce retention requirement if the Secretary determines that— the airport is experiencing economic hardship as a direct result of the requirement; or the requirement reduces aviation safety or security. The workforce retention requirement shall not apply to nonhub airports or nonprimary airports receiving funds under this section. Any financial assistance provided under this section to an airport that fails to comply with the workforce retention requirement described in subparagraph (A), and does not otherwise qualify for a waiver or exception under this paragraph, shall be subject to clawback by the Secretary.

(d) Definitions In this section: The term “eligible large airport concession” means a concession (as defined in section 23.3 of title 49, Code of Federal Regulations), that is in-terminal and has maximum gross receipts, averaged over the previous three fiscal years, of more than $56, 420, 000. T h e t er m “ e l i g ib l es ma ll ai r p or t co n cess i o n ” m e an s a co n cess i o n (a s d e f in e d in sec t i o n 23.3 o f t i tl e 49, C o d eo f F e d er a lR e gu l a t i o n s), t ha t i s in - t er mina l an d — a s ma ll b u s in ess w i t hma x im u m g rossrece i pt s, a v er a g e d o v er t h e p re v i o u s 3 f i sc a l ye a rs, o f l ess t han$ 56,420,000; or is a joint venture (as defined in section 23.3 of title 49, Code of Federal Regulations).

§ 9131 Definitions

In this part: The term “eligible employee group” means the portion of an employer’s United States workforce that— does not exceed 25 percent of the employer’s total United States workforce as of April 1, 2020 ; and contains only employees with a total compensation level of $200,000 or less per year; and is engaged in aviation manufacturing activities and services, or maintenance, repair, and overhaul activities and services. The term “aviation manufacturing company” means a corporation, firm, or other business entity— that— actively manufactures an aircraft, aircraft engine, propeller, or a component, part, or systems of an aircraft or aircraft engine under a Federal Aviation Administration production approval; holds a certificate issued under part 145 of title 14, Code of Federal Regulations, for maintenance, repair, and overhaul of aircraft, aircraft engines, components, or propellers; or operates a process certified to SAE AS9100 related to the design, development, or provision of an aviation product or service, including a part, component, or assembly; which— is established, created, or organized in the United States or under the laws of the United States; and has significant operations in, and a majority of its employees engaged in aviation manufacturing activities and services, or maintenance, repair, and overhaul activities and services based in the United States; which has involuntarily furloughed or laid off at least 10 percent of its workforce in 2020 as compared to 2019 or has experienced at least a 15 percent decline in 2020 revenues as compared to 2019; that, as supported by sworn financial statements or other appropriate data, has identified the eligible employee group and the amount of total compensation level for the eligible employee group; that agrees to provide private contributions and maintain the total compensation level for the eligible employee group for the duration of an agreement under this part; that agrees to provide immediate notice and justification to the Secretary of involuntary furloughs or layoffs exceeding 10 percent of the workforce that is not included in an eligible employee group for the duration of an agreement and receipt of public contributions under this part; that has not conducted involuntary furloughs or reduced pay rates or benefits for the eligible employee group, subject to the employer’s right to discipline or terminate an employee in accordance with employer policy, between the date of application and the date on which such a corporation, firm, or other business entity enters into an agreement with the Secretary under this part; and that— in the case of a corporation, firm, or other business entity including any parent company or subsidiary of such a corporation, firm, or other business entity, that holds any type or production certificate or similar authorization issued under section 44704 of title 49 , United States Code, with respect to a transport-category airplane covered under part 25 of title 14, Code of Federal Regulations, certificated with a passenger seating capacity of 50 or more, agrees to refrain from conducting involuntary layoffs or furloughs, or reducing pay rates and benefits, for the eligible employee group, subject to the employer’s right to discipline or terminate an employee in accordance with employer policy from the date of agreement until September 30, 2021 , or the duration of the agreement and receipt of public contributions under this part, whichever period ends later; or in the case of corporation, firm, or other business entity not specified under subparagraph (i), agrees to refrain from conducting involuntary layoffs or furloughs, or reducing pay rates and benefits, for the eligible employee group, subject to the employer’s right to discipline or terminate an employee in accordance with employer policy for the duration of the agreement and receipt of public contributions under this part. The term “employee” has the meaning given that term in section 203 of title 29 . The term “employer” means an aviation manufacturing company that is an employer (as defined in section 203 of title 29 ). The term “private contribution” means the contribution funded by the employer under this part to maintain 50 percent of the eligible employee group’s total compensation level, and combined with the public contribution, is sufficient to maintain the total compensation level for the eligible employee group as of April 1, 2020 . The term “public contribution” means the contribution funded by the Federal Government under this part to provide 50 percent of the eligible employees group’s total compensation level, and combined with the private contribution, is sufficient to maintain the total compensation level for those in the eligible employee group as of April 1, 2020 . The term “Secretary” means the Secretary of Transportation. The term “total compensation level” means the level of total base compensation and benefits being provided to an eligible employee group employee, excluding overtime and premium pay, and excluding any Federal, State, or local payroll taxes paid, as of April 1, 2020 . ( Pub. L. 117–2, title VII, § 7201 , Mar. 11, 2021 , 135 Stat. 101 .)

§ 9132 Payroll support program

(a) In General The Secretary shall establish a payroll support program and enter into agreements with employers who meet the eligibility criteria specified in subsection (b) and are not ineligible under subsection (c), to provide public contributions to supplement compensation of an eligible employee group. There is appropriated for fiscal year 2021, out of amounts in the Treasury not otherwise appropriated, $3,000,000,000, to remain available until September 30, 2023 , for the Secretary to carry out the payroll support program authorized under the preceding sentence for which 1 percent of the funds may be used for implementation costs and administrative expenses.

(b) Eligibility The Secretary shall enter into an agreement and provide public contributions, for a term no longer than 6 months, solely with an employer that agrees to use the funds received under an agreement exclusively for the continuation of employee wages, salaries, and benefits, to maintain the total compensation level for the eligible employee group as of April 1, 2020 for the duration of the agreement, and to facilitate the retention, rehire, or recall of employees of the employer, except that such funds may not be used for back pay of returning rehired or recalled employees.

(c) Ineligibility The Secretary may not enter into any agreement under this section with an employer who was allowed a credit under section 2301 of the CARES Act ( 26 U.S.C. 3111 note) for the immediately preceding calendar quarter ending before such agreement is entered into, who received financial assistance under section 9073 of this title , or who is currently expending financial assistance under the paycheck protection program established under section 636(a)(36) of this title , as of the date the employer submits an application under the payroll support program established under subsection (a).

(d) Reductions To address any shortfall in assistance that would otherwise be provided under this part, the Secretary shall reduce, on a pro rata basis, the financial assistance provided under this part.

(e) Agreement Deadline No agreement may be entered into by the Secretary under the payroll support program established under subsection (a) after the last day of the 6 month period that begins on the effective date of the first agreement entered into under such program.

§ 9141 Air transportation payroll support program extension

(a) Definitions The definitions in section 40102(a) of title 49 shall apply with respect to terms used in this section, except that— the term “catering functions” means preparation, assembly, or both, of food, beverages, provisions and related supplies for delivery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft; the term “contractor” means— a person that performs, under contract with a passenger air carrier conducting operations under part 121 of title 14, Code of Federal Regulations— catering functions; or functions on the property of an airport that are directly related to the air transportation of persons, property, or mail, including the loading and unloading of property on aircraft, assistance to passengers under part 382 of title 14, Code of Federal Regulations, security, airport ticketing and check-in functions, ground-handling of aircraft, or aircraft cleaning and sanitization functions and waste removal; or a subcontractor that performs such functions; the term “employee” means an individual, other than a corporate officer, who is employed by an air carrier or a contractor; the term “eligible air carrier” means an air carrier that— received financial assistance pursuant 1 section 9092(a)(1) of this title ; provides air transportation as of March 31, 2021 ; has not conducted involuntary furloughs or reduced pay rates or benefits between March 31, 2021 , and the date on which the air carrier makes a certification to the Secretary pursuant to subparagraph (D); and certifies to the Secretary that such air carrier will— refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021 , or the date on which assistance provided under this section is exhausted, whichever is later; refrain from purchasing an equity security of the air carrier or the parent company of the air carrier that is listed on a national securities exchange through September 30, 2022 ; refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent interest) of such air carrier through September 30, 2022 ; during the 2-year period beginning April 1, 2021 , and ending April 1, 2023 , refrain from paying— any officer or employee of the air carrier whose total compensation exceeded $425, 000 in c a l e n d a rye a r 2019 (o t h er t hanan e m pl oyee w h oseco m p e n s a t i o ni s d e t er min e d t h ro ug han e x i s t in g co ll ec t i v e ba r g ainin g a g ree m e n t e n t ere d in t o p r i or t o M a rc h 11, 2021) — t o t a l co m p e n s a t i o n t ha t e x cee d s, d u r in g an y 12 co n sec u t i v e m o n t h so f s u c h 2 - ye a r p er i o d, t h e t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e ai rc a rr i er in c a l e n d a rye a r 2019; orse v er an ce p a yoro t h er b e n e f i t s u p o n t er mina t i o n o f e m pl oy m e n tw i t h t h e ai rc a rr i er w hi c h e x cee d s tw i ce t h e ma x im u m t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h e ai rc a rr i er in c a l e n d a rye a r 2019; an d an yo ff i cerore m pl oyeeo f t h e ai rc a rr i er w h ose t o t a l co m p e n s a t i o n e x cee d e d$ 3,000,000 in calendar year 2019 during any 12 consecutive months of such period total compensation in excess of the sum of— $3, 000, 000; an d 50 p erce n t o f t h ee x cesso v er$ 3,000,000 of the total compensation received by the officer or employee from the air carrier in calendar year 2019. 2 the term “eligible contractor” means a contractor that— received financial assistance pursuant to section 9092(a)(2) of this title ; performs one or more of the functions described under paragraph (2) as of March 31, 2021 ; has not conducted involuntary furloughs or reduced pay rates or benefits between March 31, 2021 , and the date on which the contractor makes a certification to the Secretary pursuant to subparagraph (D); and certifies to the Secretary that such contractor will— refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021 , or the date on which assistance provided under this section is exhausted, whichever is later; refrain from purchasing an equity security of the contractor or the parent company of the contractor that is listed on a national securities exchange through September 30, 2022 ; refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent interest) of the contractor through September 30, 2022 ; during the 2-year period beginning April 1, 2021 , and ending April 1, 2023 , refrain from paying— any officer or employee of the contractor whose total compensation exceeded $425, 000 in c a l e n d a rye a r 2019 (o t h er t hanan e m pl oyee w h oseco m p e n s a t i o ni s d e t er min e d t h ro ug han e x i s t in g co ll ec t i v e ba r g ainin g a g ree m e n t e n t ere d in t o p r i or t o M a rc h 11, 2021) — t o t a l co m p e n s a t i o n t ha t e x cee d s, d u r in g an y 12 co n sec u t i v e m o n t h so f s u c h 2 - ye a r p er i o d, t h e t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h eco n t r a c t or in c a l e n d a rye a r 2019; orse v er an ce p a yoro t h er b e n e f i t s u p o n t er mina t i o n o f e m pl oy m e n tw i t h t h eco n t r a c t or w hi c h e x cee d s tw i ce t h e ma x im u m t o t a l co m p e n s a t i o n rece i v e d b y t h eo ff i cerore m pl oyee f ro m t h eco n t r a c t or in c a l e n d a rye a r 2019; an d an yo ff i cerore m pl oyeeo f t h eco n t r a c t or w h ose t o t a l co m p e n s a t i o n e x cee d e d$ 3,000,000 in calendar year 2019 during any 12 consecutive months of such period total compensation in excess of the sum of— $3, 000, 000; an d 50 p erce n t o f t h ee x cesso v er$ 3,000,000 of the total compensation received by the officer or employee from the contractor in calendar year 2019. 3 the term “Secretary” means the Secretary of the Treasury.

(b) Payroll support grants The Secretary shall make available to eligible air carriers and eligible contractors, financial assistance exclusively for the continuation of payment of employee wages, salaries, and benefits to— eligible air carriers, in an aggregate amount of $14, 000, 000, 000; an d e l i g ib l eco n t r a c t ors, inana gg re g a t e am o u n t o f$ 1,000,000,000. The Secretary shall apportion funds to eligible air carriers and eligible contractors in accordance with the requirements of this section not later than April 15, 2021 . The Secretary shall apportion funds made available under paragraph (1)(A) to each eligible air carrier in the ratio that— the amount received by the air carrier pursuant to section 9093(a) of this title bears to $15, 000, 000, 000. T h e S ecre t a rys ha ll a pp or t i o n, t oe a c h e l i g ib l eco n t r a c t or, anam o u n t e q u a lt o t h e t o t a l am o u n t s u c h co n t r a c t orrece i v e d p u rs u an tt osec t i o n 9093 (a) o f t hi s t i tl e . T h e S ecre t a rys ha llp ro v i d e f inan c ia l a ss i s t an ce t o an e l i g ib l e ai rc a rr i erore l i g ib l eco n t r a c t or u n d er t hi ssec t i o nin t h es am e f or man d o n t h es am e t er m s an d co n d i t i o n s a s d e t er min e d b y p u rs u an tt o 4 sec t i o n 9093 (b) (1) (A) o f t hi s t i tl e . T h e S ecre t a rys ha llp u b l i s h s t re am l in e d an d e x p e d i t e d p roce d u res n o tl a t er t han 5 d a ys a f t er M a rc h 11, 2021, f ore l i g ib l e ai rc a rr i ers an d e l i g ib l eco n t r a c t ors t os u bmi t re q u es t s f or f inan c ia l a ss i s t an ce u n d er t hi ssec t i o n . N o tl a t er t han 10 d a ys a f t er M a rc h 11, 2021, t h e S ecre t a rys ha ll mak e ini t ia lp a y m e n t s t o ai rc a rr i ers an d co n t r a c t ors t ha t s u bmi t re q u es t s f or f inan c ia l a ss i s t an ce a pp ro v e d b y t h e S ecre t a ry . T h e S ecre t a rys ha ll rece i v e f inan c ia l in s t r u m e n t s i ss u e d b yrec i p i e n t so ff inan c ia l a ss i s t an ce u n d er t hi ssec t i o nin t h es am e f or man d am o u n t, an d u n d er t h es am e t er m s an d co n d i t i o n s, a s d e t er min e d b y t h e S ecre t a ry u n d ersec t i o n 9098 o f t hi s t i tl e . O f t h e am o u n t s ma d e a v ai l ab l e u n d er p a r a g r a p h (1) (A),$ 10,000,000 shall be made available to the Secretary for costs and administrative expenses associated with providing financial assistance under this section.

(c) Funding In addition to amounts otherwise available, there is appropriated for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $15,000,000,000, to remain available until expended, to carry out this section.

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CHAPTER 116 - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT)

CHAPTER 116 - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT)

Sections (83)

§ 9001 Definitions

§ 9002 Entrepreneurial development

§ 9003 State Trade Expansion Program

§ 9004 Waiver of matching funds requirement under the Women’s Business Center program

§ 9005 Transferred

§ 9006 Direct appropriations

§ 9007 Minority Business Development Agency

§ 9008 United States Treasury program management authority

§ 9009 Emergency EIDL grants

§ 9009a Grants for shuttered venue operators

§ 9009b Targeted EIDL advance for small business continuity, adaptation, and resiliency

§ 9009c Support for restaurants

§ 9010 Resources and services in languages other than English

§ 9011 Subsidy for certain loan payments

§ 9012 Emergency rulemaking authority

§ 9013 Community Navigator pilot program

§ 9021 Pandemic unemployment assistance

§ 9022 Flexibility in paying reimbursement

§ 9023 Emergency increase in unemployment compensation benefits

§ 9024 Temporary full Federal funding of the first week of compensable regular unemployment for States with no waiting week

§ 9025 Pandemic emergency unemployment compensation

§ 9026 Temporary financing of short-time compensation payments in States with programs in law

§ 9027 Temporary financing of short-time compensation agreements

§ 9028 Grants for short-time compensation programs

§ 9029 Assistance and guidance in implementing programs

§ 9030 Waiver of the 7-day waiting period for benefits under the Railroad Unemployment Insurance Act

§ 9031 Funding for the DOL Office of Inspector General for oversight of unemployment provisions

§ 9032 Implementation

§ 9033 Return to work reporting

§ 9034 Funding for fraud prevention, equitable access, and timely payment to eligible workers

§ 9041 Definitions

§ 9042 Emergency relief and taxpayer protections

§ 9043 Limitation on certain employee compensation

§ 9044 Continuation of certain air service

§ 9045 Coordination with Secretary of Transportation

§ 9046 Suspension of certain aviation excise taxes

§ 9047 Federal credit union transaction account guarantees

§ 9048 Temporary Government in the Sunshine Act relief

§ 9049 Temporary hiring flexibility

§ 9050 Temporary relief for community banks

§ 9051 Temporary relief from troubled debt restructurings

§ 9052 Optional temporary relief from current expected credit losses

§ 9053 Special Inspector General for Pandemic Recovery

§ 9054 Conflicts of interest

§ 9055 Congressional Oversight Commission

§ 9056 Foreclosure moratorium and consumer right to request forbearance

§ 9057 Forbearance of residential mortgage loan payments for multifamily properties with Federally backed loans

§ 9058 Temporary moratorium on eviction filings

§ 9058a Emergency rental assistance

§ 9058b Funding for water assistance program

§ 9058c Emergency rental assistance

§ 9058d Homeowner Assistance Fund

§ 9059 Protection of collective bargaining agreement

§ 9060 Reports

§ 9061 Direct appropriation

§ 9062 Rule of construction

§ 9063 Termination of authority

§ 9071 Definitions

§ 9072 Pandemic relief for aviation workers

§ 9073 Procedures for providing payroll support

§ 9074 Required assurances

§ 9075 Protection of collective bargaining agreement

§ 9076 Limitation on certain employee compensation

§ 9077 Tax payer protection

§ 9078 Reports

§ 9079 Coordination

§ 9080 Direct appropriation

§ 9091 Definitions

§ 9092 Pandemic relief for aviation workers

§ 9093 Procedures for providing payroll support

§ 9094 Required assurances

§ 9095 Protection of collective bargaining agreements

§ 9096 Limitation on certain employee compensation

§ 9097 Minimum air service guarantees

§ 9098 Taxpayer protection

§ 9001 Definitions

§ 9002 Entrepreneurial development

§ 9003 State Trade Expansion Program

§ 9004 Waiver of matching funds requirement under the Women’s Business Center program

§ 9005 Transferred

§ 9006 Direct appropriations

§ 9007 Minority Business Development Agency

§ 9008 United States Treasury program management authority

§ 9009 Emergency EIDL grants

§ 9009a Grants for shuttered venue operators

§ 9009b Targeted EIDL advance for small business continuity, adaptation, and resiliency

§ 9009c Support for restaurants

§ 9010 Resources and services in languages other than English

§ 9011 Subsidy for certain loan payments

§ 9012 Emergency rulemaking authority

§ 9013 Community Navigator pilot program

§ 9021 Pandemic unemployment assistance

§ 9022 Flexibility in paying reimbursement

§ 9023 Emergency increase in unemployment compensation benefits

§ 9024 Temporary full Federal funding of the first week of compensable regular unemployment for States with no waiting week

§ 9025 Pandemic emergency unemployment compensation

§ 9026 Temporary financing of short-time compensation payments in States with programs in law

§ 9027 Temporary financing of short-time compensation agreements

§ 9028 Grants for short-time compensation programs

§ 9029 Assistance and guidance in implementing programs

§ 9030 Waiver of the 7-day waiting period for benefits under the Railroad Unemployment Insurance Act

§ 9031 Funding for the DOL Office of Inspector General for oversight of unemployment provisions

§ 9032 Implementation

§ 9033 Return to work reporting

§ 9034 Funding for fraud prevention, equitable access, and timely payment to eligible workers

§ 9041 Definitions

§ 9042 Emergency relief and taxpayer protections

§ 9043 Limitation on certain employee compensation

§ 9044 Continuation of certain air service

§ 9045 Coordination with Secretary of Transportation

§ 9046 Suspension of certain aviation excise taxes

§ 9047 Federal credit union transaction account guarantees

§ 9048 Temporary Government in the Sunshine Act relief

§ 9049 Temporary hiring flexibility

§ 9050 Temporary relief for community banks

§ 9051 Temporary relief from troubled debt restructurings

§ 9052 Optional temporary relief from current expected credit losses

§ 9053 Special Inspector General for Pandemic Recovery

§ 9054 Conflicts of interest

§ 9055 Congressional Oversight Commission

§ 9056 Foreclosure moratorium and consumer right to request forbearance

§ 9057 Forbearance of residential mortgage loan payments for multifamily properties with Federally backed loans

§ 9058 Temporary moratorium on eviction filings

§ 9058a Emergency rental assistance

§ 9058b Funding for water assistance program

§ 9058c Emergency rental assistance

§ 9058d Homeowner Assistance Fund

§ 9059 Protection of collective bargaining agreement

§ 9060 Reports

§ 9061 Direct appropriation

§ 9062 Rule of construction

§ 9063 Termination of authority

§ 9071 Definitions

§ 9072 Pandemic relief for aviation workers

§ 9073 Procedures for providing payroll support

§ 9074 Required assurances

§ 9075 Protection of collective bargaining agreement

§ 9076 Limitation on certain employee compensation

§ 9077 Tax payer protection

§ 9078 Reports

§ 9079 Coordination

§ 9080 Direct appropriation

§ 9091 Definitions

§ 9092 Pandemic relief for aviation workers

§ 9093 Procedures for providing payroll support

§ 9094 Required assurances

§ 9095 Protection of collective bargaining agreements

§ 9096 Limitation on certain employee compensation

§ 9097 Minimum air service guarantees

§ 9098 Taxpayer protection

§ 9099 Reports

§ 9100 Coordination

§ 9101 Funding

§ 9111 Assistance for providers of transportation services affected by COVID–19

§ 9121 Relief for airports