Sec. 302. Temporary waiver and reprogramming authority

301 words·~1 min read·/bill/116/hr/6321/ih/section-302

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

With respect to a covered grant awarded to a State, territory, or local government by a Federal financial regulator, the Federal financial regulator may, upon request, waive any matching or cost-sharing requirements with respect to such grant until January 1, 2023. A State, territory, or local government granted a waiver with respect to a grant under subsection

(a)shall waive any matching or cost-sharing requirements that such government imposes on sub-grantees on such grant until January 1, 2023. With respect to a covered grant awarded to a State, territory, or local government by a Federal financial regulator, the Federal financial regulator may, upon request, permit the State, territory, or local government to reprogram awarded grant funds for purposes related to unemployment, childcare, and healthcare, if the majority of normally funded activities under such grant are not in areas related to unemployment, childcare, and healthcare. Any grantee (or sub-grantee) with respect to which a Federal financial regulator allows to reprogram funds under paragraph

(1)shall be given priority by such Federal financial regulator for future awards of the type reprogrammed. In this section: The term covered award means a grant— that was awarded to a State, territory, or local government before the date of enactment of this Act and under which the State, territory, or local government may still receive additional grant amounts; or with respect to which the period of performance does not expire before January 1, 2023. The term Federal financial regulator means the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Department of Housing and Urban Development, the Department of the Treasury (other than the Internal Revenue Service), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Securities and Exchange Commission.