Sec. 3. Definitions
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In this Act: The term Administrator means the Administrator of the Small Business Administration. The terms covered mortgage obligation , covered rent obligation , covered supplier cost , covered utility payment , and covered worker protection expenditure have the meanings given the terms in section 7A(a) of the Small Business Act ( 15 U.S.C. 636m(a) ). The term covered period means the period— beginning on March 1, 2020; and ending on March 31, 2023, or a date to be determined by the Administrator that is not later than 2 years after the date of enactment of this Act.
The term eligible entity — means a small business concern (as defined in section 3 of the Small Business Act ( 15 U.S.C. 632 )) that has experienced substantial losses resulting from the COVID–19 pandemic, as determined by the Administrator; may include— a Tribally-owned concern; a sole proprietorship; an independent contractor; and an eligible self-employed individual; and does not include— an entity described in subparagraph
(A)that— is a State or local government-owned or operated business; and has a pending application for or has received a grant under— section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act ( 15 U.S.C. 9009a ); or section 5003 of the American Rescue Plan Act of 2021 ( 15 U.S.C. 9009c ); a publicly-traded company; an entity that is owned or operated by a private equity fund; an entity that was not in operation before March 1, 2020; or an entity that is not in operation on, and does not intend to reopen on or before the date that is 180 days after, the date on which the entity applies for a grant. The term eligible self-employed individual has the meaning given the term in section 7002(b) of the Families First Coronavirus Response Act ( 26 U.S.C. 1401 note). The terms exchange , issuer , and security have the meanings given those terms in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). The term Fund means the Hardest-Hit Small Business Relief Fund established under section 4(a). The term national securities exchange means an exchange that is registered in accordance with section 6 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78f ). The term payroll costs has the meaning given the term in section 7(a)(36)(A) of the Small Business Act ( 15 U.S.C. 636(a)(36)(A) ), except that such term shall not include— qualified wages (as defined in subsection (c)(3) of section 2301 of the CARES Act ( 26 U.S.C. 3111 note)) 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 the Internal Revenue Code of 1986. The term private equity fund has the meaning given the term in section 225.173(a) of title 12, Code of Federal Regulations, or any successor regulation. 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. 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.
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Sec. 3
Definitions
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