Sec. 504.
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The matter preceding the first proviso under the heading Independent Agencies—Pandemic Response Accountability Committee in title V of division B of the CARES Act ( Public Law 116–136 ) is amended by striking funds provided in this Act to prevent, prepare for, and respond to coronavirus, domestically or internationally and inserting . covered funds , as that term is defined in section 15010 of this Act Section 15010(a)(6) of division B of the Coronavirus, Aid, Relief, and Economic Security Act ( Public Law 116–136 ) is amended— in subparagraph (A), by striking this Act and inserting the Coronavirus Aid, Relief, and Economic Security Act (divisions A and B) ( ; and Public Law 116–136 ) by striking subparagraph
(D)and inserting: the Paycheck Protection Program and Health Care Enhancement Act ( Public Law 116–139 ); all divisions of this Act; or The Heroes Act ; and . Section 15010(c) of division B of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ) is amended— in paragraph (1), by striking and
(D)and inserting (D), and
(E); and in paragraph (2)(E), by inserting of the Council after Chairperson . In this subsection, the terms agency and large covered funds have the meanings given those terms in section 15011 of division B of the Coronavirus, Aid, Relief, and Economic Security Act ( Public Law 116–136 ). Not later than 14 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall issue guidance for agencies to ensure the collection and timely reporting for the obligation and expenditure of large covered funds under division A of the CARES Act ( Public Law 116–136 ) on and after the date of enactment of that Act. The guidance issued under subparagraph
(A)shall require that, not later than 120 days after the date of enactment of this Act, agencies shall make all reports required under section 15011 of division B of the CARES Act ( Public Law 116–136 ) relating to large covered funds under division A of such Act that have been expended or obligated during the period beginning on the date of enactment of the CARES Act ( Public Law 116–136 ) and ending on the day before the date of enactment of this Act. Nothing in this subsection shall be construed to affect the deadlines for reporting under section 15011 of division B of the CARES Act ( Public Law 116–136 ) relating to large covered funds that have been expended or obligated under divisions A or B of such Act, on or after the date of enactment of this Act. Amounts repurposed under this section that were previously designated by the Congress, respectively, as an emergency requirement or as being for disaster relief pursuant to the Balanced Budget and Emergency Deficit Control Act are designated by the Congress as being for an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985 or as being for disaster relief pursuant to section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit Control Act of 1985.
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