Sec. 504. Updates of the Pandemic Influenza Plan and National Planning Frameworks
556 words·~3 min read·
/bill/116/hr/6379/ih/section-504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than one year following the end of the Declaration of the National Emergency, the President shall ensure that the Pandemic Influenza Plan (2017 Update) and the National Planning Frameworks are updated. The Secretary of the Treasury, in consultation with the Federal financial regulators, shall provide to the President the following: An assessment of the effectiveness of current plans and strategies to address the economic, financial, and monetary issues arising from a pandemic or other disaster.
A description of the most significant challenges to protecting the economy, the financial system, and consumers, during a pandemic or other disaster, including the specific challenges experienced by women, racial and ethnic minorities, diverse-owned businesses, veterans, and the disabled. Actions that could be carried out in a crisis, as defined by the preparedness plans described in subsection (a), such as the following: Significant increases of unemployment insurance benefits (including payment amounts) for all workers under a certain income threshold, including freelancers and the self-employed, during the crisis.
Loan deference, modification, and forbearance mechanisms of all consumer and business payments, allowing long-term repayment plans and excluding no industries, during the crisis. Suspension of foreclosure and eviction proceedings taken against individuals or businesses during the crisis. Suspension of all negative consumer credit reporting during the crisis. Prohibition of debt collection, repossession, and garnishment of wages during the crisis. Provision of emergency homeless assistance during the crisis.
An increase in Community Development Block Grants during the crisis and to improve community response. Reduction of hurdles in the form of waivers and authorities to modify existing housing and homelessness programs to facilitate response to the crisis. Expand the size standards for eligible businesses with access no-interest or low-interest loans through the Small Business Administration during the crisis. Remove the size standard limits on eligible businesses with access no-interest or low-interest loans through the Small Business Administration during the crisis for businesses that agree to maintain their employment workforce and preserve benefits during the crisis.
Support for additional no-interest or low-interest loans for small businesses through the Small Business Administration during the crisis. Utilization of the Community Development Financial Institutions
(CDFI)Fund to support small businesses as well as low-income communities during the crisis. Support for State, territory, and local government financing during the crisis. Waiver of matching requirements for municipal governments during the crisis. Suspension of requirements relating to minimum distributions for retirement plans and individual retirement accounts for the calendar years of which the crisis is occurring. In issuing the updates required under subsection (a), the President shall ensure that consideration is given as to how to minimize the economic impacts of a crisis on women, minorities, diverse-owned businesses, veterans, and the disabled. The updated plans described in subsection
(a)shall be made publicly available, but may have classified information redacted. In this section: The term Declaration of the National Emergency means the emergency declared by the President under section 501 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5191 ) relating to the COVID–19 pandemic. The term Federal financial regulators means the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Securities and Exchange Commission.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 504
Updates of the Pandemic Influenza Plan and National Planning Frameworks
Cites 1Cited by 0 across 0 sources