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Code · BILL · 116th Congress · S. 4818 (Introduced in Senate) — To provide assistance to small businesses affected by COVID–19, and for other purposes. · Sec. 1

Sec. 1. Short title; table of contents; definitions

916 words·~4 min read·/bill/116/s/4818/is/section-1

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This Act may be cited as the . Heroes Small Business Lifeline Act The table of contents for this Act is as follows: Sec. 1. Short title; table of contents; definitions. TITLE I—Funding Provisions Sec. 101. Amount authorized for commitments. Sec. 102. Funding for the Paycheck Protection Program. Sec. 103. Direct appropriations. Sec. 104. Emergency designation. TITLE II—Modifications to the Paycheck Protection Program Sec. 201. Periods for loan forgiveness and application submission.
Sec. 202. Supplemental covered loans for certain business concerns. Sec. 203. Certifications and documentation for streamlined forgiveness of covered loans. Sec. 204. Eligibility of certain organizations for loans under the Paycheck Protection Program. Sec. 205. Limit on aggregate loan amount for eligible recipients with more than 1 physical location. Sec. 206. Allowable uses of covered loans; forgiveness. Sec. 207. Documentation required for certain eligible recipients. Sec. 208.
Exclusion of certain publicly traded and foreign entities. Sec. 209. Election of 12-week period by seasonal employers. Sec. 210. Inclusion of certain refinancing in nonrecourse requirements. Sec. 211. Credit elsewhere requirements. Sec. 212. Prohibition on receiving duplicative amounts for payroll costs. Sec. 213. Application of certain terms through life of covered loan. Sec. 214. Interest calculation on covered loans. Sec. 215. Reimbursement for processing. Sec. 216. Duplication requirements for economic injury disaster loan recipients.
Sec. 217. Reapplication for and modification to Paycheck Protection Program. Sec. 218. Treatment of certain criminal violations. Sec. 219. Eligibility and treatment of Farm Credit System institutions. TITLE III—Tax Provisions Sec. 301. Improved coordination between Paycheck Protection Program and employee retention tax credit. TITLE IV—COVID–19 Economic Injury Disaster Loan Program Reform Sec. 401. Sense of Congress. Sec. 402. Notices to applicants for economic injury disaster loans or advances.
Sec. 403. Modifications to emergency EIDL advances. Sec. 404. Data transparency, verification, and notices for economic injury disaster loans. Sec. 405. Lifeline funding for small business continuity, adaptation, and resiliency. Sec. 406. Modifications to economic injury disaster loans. Sec. 407. Principal and interest payments for certain disaster loans. Sec. 408. Training. Sec. 409. Outreach plan. Sec. 410. Report on best practices. Sec. 411. Extension of period of availability for administrative funds.
TITLE V—Micro-SBIC and Equity Investment Enhancement Sec. 501. Micro-SBIC Program. TITLE VI—Miscellaneous Sec. 601. Repeal of EIDL advance deduction. Sec. 602. Extension of the debt relief program. Sec. 603. Modifications to 7
(a)loan programs. Sec. 604. Flexibility in deferral of payments of 7(a) loans. Sec. 605. Recovery assistance under the microloan program. Sec. 606. Maximum loan amount for 504 loans. Sec. 607. Temporary fee reductions. Sec. 608. Extension of participation in 8(a) program. Sec. 609. Report on minority, women, and rural lending. Sec. 610. Comprehensive program guidance. Sec. 611. Reports on Paycheck Protection Program. Sec. 612. Prohibiting conflicts of interest for small business programs under the CARES Act. Sec. 613. Inclusion of SCORE and Veteran Business Outreach Centers in entrepreneurial development programs. Sec. 614. Clarification of use of CARES Act funds for small business development centers. Sec. 615. Funding for the Office of Inspector General of the Small Business Administration. Sec. 616. Extension of waiver of matching funds requirement under the Women's Business Center program. Sec. 617. Access to Small Business Administration information and databases. Sec. 618. Small business local relief program. Sec. 619. Grants for shuttered venue operators. Sec. 620. Support for restaurants. TITLE VII—Minority business development agency and community development financial institutions fund Sec. 701. Definitions. Subtitle A—Codification of the minority business development agency Sec. 711. Short title. Sec. 712. Findings and purposes. Sec. 713. Minority Business Development Agency. PART I—Existing initiatives SUBPART A—Market development, research, and information Sec. 721. Private sector development. Sec. 722. Public sector development. Sec. 723. Research and information. SUBPART B—Minority Business Development Center Program Sec. 731. Purpose. Sec. 732. Definitions. Sec. 733. Establishment. Sec. 734. Cooperative agreements. Sec. 735. Minimizing disruptions to existing business centers program. Sec. 736. Publicity. Sec. 737. Emergency appropriations. PART II—New initiatives To promote economic resiliency for minority businesses Sec. 741. Annual diverse business forum on capital formation. Sec. 742. Agency study on alternative financing solutions. Sec. 743. Educational development relating to management and entrepreneurship. PART III—Administrative and other powers of the agency; miscellaneous provisions Sec. 751. Administrative powers. Sec. 752. Financial assistance. Sec. 753. Audits. Sec. 754. Review and report by comptroller general. Sec. 755. Annual reports; recommendations. Sec. 756. Separability. Sec. 757. Executive Order 11625. Sec. 758. Amendment to the Federal Acquisition Streamlining Act of 1994. Subtitle B—Other provisions Sec. 761. Emergency grants to minority business enterprises. TITLE VIII—Promoting and Advancing Communities of Color through Inclusive Lending Sec. 801. Short title. Sec. 802. Findings; sense of Congress. Sec. 803. Purposes. Sec. 804. Considerations; requirements for creditors. Sec. 805. Neighborhood Capital Investment Program. Sec. 806. Emergency support for CDFIs and communities. Sec. 807. Ensuring diversity in community banking. Sec. 808. Establishment of Financial Agent Partnership Program. Sec. 809. Strengthening minority lending institutions. Sec. 810. CDFI Bond Guarantee Reform. Sec. 811. Reports. Sec. 812. Inspector General oversight. Sec. 813. Study and report with respect to impact of programs on low- and moderate-income and minority communities. Sec. 814. Community development financial institutions fund. In this Act: The term Administration means the Small Business Administration. The term Administrator means the Administrator of the Small Business Administration. Except as otherwise provided in this Act, this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act and shall apply to loans made, or other assistance provided, on or after the date of enactment of this Act.
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Sec. 1
Short title; table of contents; definitions
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