Sec. 90007. RESCISSION OF COVID-19 APPROPRIATIONS

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## SEC. 90007 RESCISSION OF COVID-19 APPROPRIATIONS ###

(a)Economic Injury Disaster Loan Subsidy ####

(1)Rescission Of the unobligated balances from amounts made available under the heading “Small Business Administration—Disaster Loans Program Account” in title II of division B of the Paycheck Protection Program and Health Care Enhancement Act (Public Law 116-139), $13,500,000,000 are permanently rescinded. ####

(2)Designation The amount rescinded pursuant to paragraph

(1)that was previously designated by the Congress as an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985 is designated by the Congress as an emergency requirement pursuant to section 4112(a) of H. Con. Res. 71 (115th Congress), the concurrent resolution on the budget for fiscal year 2018, and to section 251(b) of the Balanced Budget and Emergency Deficit Control Act of 1985. ###

(b)Targeted EIDL Advance ####

(1)Of the unobligated balances from amounts made available under the heading “Small Business Administration—Targeted EIDL Advance” in section 323(d)(1)(D) of division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260), $17,578,000,000 are permanently rescinded. ####

(2)Of the unobligated balances from amounts made available in section 5002(b) of the American Rescue Plan Act of 2021 (Public Law 117-2)— #####

(A)amounts may be transferred to and merged with “Small Business Administration—Disaster Loans Program Account” for the cost of direct loans authorized under section 7(b) of the Small Business Act (15 U.S.C. 636(b)); #####

(B)not more than $500,000,000 may be transferred to “Small Business Administration—Salaries and Expenses” for necessary expenses, not otherwise provided for, of the Small Business Administration; and #####

(C)not more than $992,000,000 may be transferred to, and merged with, “Small Business Administration—Business Loans Program Account” for the cost of guaranteed loans as authorized by paragraphs

(1)through

(35)of section 7(a) of the Small Business Act (15 U.S.C. 636(a)), including the cost of carrying out sections 326, 327, and 328 of division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260). ###

(c)Economic Stabilization Program Of the unobligated balances from amounts made available in section 4027(a) of the Coronavirus Aid, Relief, and Economic Security Act (15 U.S.C. 9601), $1,366,100,000 are permanently rescinded. ###

(d)Business Loans Program Account ####

(1)Of the unobligated balances from amounts made available under the heading “Small Business Administration—Business Loans Program Account, CARES Act” in section 1107(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136), as amended by section 101(a)(2) of division A of the Paycheck Protection Program and Health Care Enhancement Act (Public Law 116-139), and in section 323(d)(1)(A) of division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260) for carrying out paragraphs

(36)and

(37)of section 7(a) of the Small Business Act (15 U.S.C. 636(a)), $4,684,000,000 are permanently rescinded. ####

(2)Of the unobligated balances from amounts made available under the heading “Small Business Administration—Business Loans Program Account” in section 323(d)(1)(F) of division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260), $992,000,000 are permanently rescinded. ###

(e)Pandemic Relief for Aviation Workers, Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Of the unobligated balances from amounts made available in section 4120 of the Coronavirus Aid, Relief, and Economic Security Act (15 U.S.C. 9080), $3,000,000,000 are permanently rescinded. ###

(f)Education Stabilization Fund ####

(1)Rescission Of the unobligated balances from amounts made available under the heading “Education Stabilization Fund” in title VIII of division B of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136) and in title III of division M of the Consolidated Appropriations Act, 2021 (Public Law 116-260) that were reserved for the Higher Education Emergency Relief Fund by sections 18004(a)(1) and 18004(a)(2) of division B of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136) and sections 314(a)(1), 314(a)(2), and 314(a)(4) of division M of the Consolidated Appropriations Act, 2021 (Public Law 116-260), $353,400,000 are permanently rescinded. ####

(2)Designation The amount rescinded pursuant to paragraph

(g)Small Business Administration, Salaries and Expenses ####

(1)Rescission Of the unobligated balances from amounts made available under the heading “Small Business Administration—Salaries and Expenses” in section 1107(a)(2) of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136), in title II of division B of the Paycheck Protection Program and Health Care Enhancement Act (Public Law 116-139), and in section 323(d)(1)(C) of division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260), $175,000,000 are permanently rescinded. ####

(2)Designation The amount rescinded pursuant to paragraph

(h)Pandemic Relief for Aviation Workers Of the unobligated balances from amounts made available in section 411 of subtitle A of title IV of division N of the Consolidated Appropriations Act, 2021 (15 U.S.C. 9101), $200,000,000 are permanently rescinded.

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