H.R. 6800 — what changed

changed This Act may be cited as the “Health and Economic Recovery Omnibus Emergency Solutions Act” or the “HEROES “The Heroes Act”.

changed The table of contents for this Act is as follows:

changed Under the heading “Commodity Assistance Program” in the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136), strike “to prevent, prepare for, and respond to coronavirus, domestically or internationally,”: Provided, That the amounts repurposed in pursuant to the amendment made by this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed For an additional amount for the program established under 7 section 7522 of the Food, Conservation, and Energy Act of 2008 (7 U.S.C. 5936, 5936), to prevent, prepare for, and respond to coronavirus, $20,000,000, to remain available until September 30, 2021: Provided, That such amount is 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.

changed Notwithstanding any other provision of law, the Federal share for grants provided by the Economic Development Administration under this Act, Public Law 116–93, Public Law 116–20, and Public Law 116–136 shall be 100 percent: Provided, That the amounts repurposed in this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed Title V of division B of the CARES Act (Public Law 116–136) is amended by striking the fifth proviso under the heading “General Services Administration—Real Property Activities—Federal Buildings Fund”: Provided, That the amounts repurposed in pursuant to this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed The Coronavirus Aid, Relief, and Economic Security Act (P.L. 116–136) is amended by striking section 18001(a)(3): Provided , That amounts repurposed pursuant to the amendment made by this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed Section 18005(a) of the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116–136) is amended by inserting “with these “including subsections (a)(4)(A)(i) and (c) of such section” after “section 1117” and by inserting “Such equitable services shall be provided by the local educational agency in which the students reside, and the amount of funds only available for children such equitable services shall be based on the number of nonpublic school students who were identified in the calculation under section 1115(c) 1117(c)(1) of the ESEA in for purposes of Title I–A during the 2019–2020 school district served by a local educational agency who are enrolled year relative to the sum of such students in private elementary public schools and secondary schools” during the 2019–2020 school year.” after “equitable services”: “representatives of nonpublic schools.”: Provided , That amounts repurposed pursuant to the amendment made by this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed Section 18004(c) of the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116–136) is amended by striking “to cover any costs associated with significant changes to the delivery of instruction due to the coronavirus” and inserting “to defray expenses (including lost revenue, reimbursement for expenses already incurred, technology costs associated with a transition to distance education, faculty and staff trainings, payroll) incurred by institutions of higher education.”: Provided , That amounts repurposed pursuant to the amendment made by this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed No Not later than September 30, 2020, the remaining unobligated balances of funds made available through September 30, 2020, under the heading “National Institutes of Health” in the Further Consolidated Appropriations Act, 2020 (Public Law 116–94) are hereby permanently rescinded, and an amount of additional new budget authority equivalent to the amount rescinded from each account is hereby appropriated to that account, to remain available until September 30, 2021, and shall be available for the same purposes, in addition to other funds as may be available for such purposes, and under the same authorities for which the funds were originally provided in Public Law 116–94: Provided, That such amount is 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.

changed Amounts made available under the headings “Project-Based Rental Assistance,”“Housing for the Elderly” and “Housing for Persons With Disabilities” in title XII of division B of the CARES Act (Public Law 116–136) and under such headings in this title of this Act may be used, notwithstanding any other provision of law, to provide additional funds to maintain operations for such housing, for providing supportive services, and for taking other necessary actions to prevent, prepare for, and respond to coronavirus, including to actions to self-isolate, quarantine, or to provide other coronavirus infection control services as recommended by the Centers for Disease Control and Prevention, including providing relocation services for residents of such housing to provide lodging at hotels, motels, or other locations: Provided, That the amounts repurposed in pursuant to this section that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 are 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.

changed This division may be cited as the “COVID–19 Tax Relief Act of 2020”.“Worker Health Coverage Protection Act”.

“6428A. Additional recovery rebates to individuals

“(a) In general—In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by subtitle A for the first taxable year beginning in 2020 an amount equal to the additional rebate amount determined for such taxable year.

“(b) Additional rebate amount—For purposes of this section, the term additional rebate amount means, with respect to any taxpayer for any taxable year, the sum of—

“(1) $1,200 ($2,400 in the case of a joint return), plus

“(2) $1,200 multiplied by the number of dependents of the taxpayer for such taxable year (not in excess of 3 such dependents).

“(c) Eligible individual—For purposes of this section, the term eligible individual means any individual other than—

“(1) any nonresident alien individual,

“(2) any individual with respect to whom a deduction under section 151 is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, and

“(3) an estate or trust.

“(d) Limitation based on modified adjusted gross income—The amount of the credit allowed by subsection (a) (determined without regard to this subsection and subsection (f)) shall be reduced (but not below zero) by 5 percent of so much of the taxpayer’s modified adjusted gross income as exceeds—

“(1) $150,000 in the case of a joint return or a surviving spouse (as defined in section 2(a)),

“(2) $112,500 in the case of a head of household (as defined in section 2(b)), and

“(3) $75,000 in any other case.

“(e) Definitions and special rules

“(1) Modified adjusted gross income—For purposes of this subsection (other than this paragraph), the term modified adjusted gross income means adjusted gross income determined without regard to sections 911, 931, and 933.

“(2) Dependent defined—For purposes of this section, the term dependent has the meaning given such term by section 152.

“(3) Credit treated as refundable—The credit allowed by subsection (a) shall be treated as allowed by subpart C of part IV of subchapter A of chapter 1.

“(4) Identification number requirement

“(A) In general—The $1,200 amount in subsection (b)(1) shall be treated as being zero unless the taxpayer includes the TIN of the taxpayer on the return of tax for the taxable year.

“(B) Joint returns—In the case of a joint return, the $2,400 amount in subsection (b)(1) shall be treated as being—

“(i) zero if the TIN of neither spouse is included on the return of tax for the taxable year, and

“(ii) $1,200 if the TIN of only one spouse is so included.

“(C) Dependents—A dependent shall not be taken into account under subsection (b)(2) unless the TIN of such dependent is included on the return of tax for the taxable year.

“(D) Coordination with certain advance payments—In the case of any payment made pursuant to subsection (g)(5)(A)(ii), a TIN shall be treated for purposes of this paragraph as included on the taxpayer’s return of tax if such TIN is provided pursuant to such subsection.

“(f) Coordination with advance refunds of credit

“(1) Reduction of refundable credit—The amount of the credit which would (but for this paragraph) be allowable under subsection (a) shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer (or any dependent of the taxpayer) under subsection (g). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

“(2) Joint returns—In the case of a refund or credit made or allowed under subsection (g) with respect to a joint return, half of such refund or credit shall be treated as having been made or allowed to each individual filing such return.

“(g) Advance refunds and credits

“(1) In general—Subject to paragraph (5), each individual who was an eligible individual for such individual’s first taxable year beginning in 2019 shall be treated as having made a payment against the tax imposed by chapter 1 for such taxable year in an amount equal to the advance refund amount for such taxable year.

“(2) Advance refund amount—For purposes of paragraph (1), the advance refund amount is the amount that would have been allowed as a credit under this section for such taxable year if this section (other than subsection (f) and this subsection) had applied to such taxable year.

“(3) Timing and manner of payments

“(A) Timing—The Secretary shall, subject to the provisions of this title, refund or credit any overpayment attributable to this section as rapidly as possible. No refund or credit shall be made or allowed under this subsection after December 31, 2020.

“(B) Delivery of payments—Notwithstanding any other provision of law, the Secretary may certify and disburse refunds payable under this subsection electronically to any account to which the payee authorized, on or after January 1, 2018, the delivery of a refund of taxes under this title or of a Federal payment (as defined in section 3332 of title 31, United States Code).

“(C) Waiver of certain rules—Notwithstanding section 3325 of title 31, United States Code, or any other provision of law, with respect to any payment of a refund under this subsection, a disbursing official in the executive branch of the United States Government may modify payment information received from an officer or employee described in section 3325(a)(1)(B) of such title for the purpose of facilitating the accurate and efficient delivery of such payment. Except in cases of fraud or reckless neglect, no liability under sections 3325, 3527, 3528, or 3529 of title 31, United States Code, shall be imposed with respect to payments made under this subparagraph.

“(4) No interest—No interest shall be allowed on any overpayment attributable to this section.

“(5) Application to individuals who do not file a return of tax for 2019

“(A) In general—In the case of an individual who, at the time of any determination made pursuant to paragraph (3), has not filed a tax return for the year described in paragraph (1), the Secretary shall—

“(i) apply paragraph (1) by substituting “2018” for “2019”, and

“(ii) in the case of a specified individual who has not filed a tax return for such individual’s first taxable year beginning in 2018, determine the advance refund amount with respect to such individual without regard to subsections (d) and on the basis of information with respect to such individual which is provided by—

“(I) in the case of a specified social security beneficiary or a specified supplemental security income recipient, the Commissioner of Social Security,

“(II) in the case of a specified railroad retirement beneficiary, the Railroad Retirement Board, and

“(III) in the case of a specified veterans beneficiary, the Secretary of Veterans Affairs (in coordination with, and with the assistance of, the Commissioner of Social Security if appropriate).

“(B) Specified individual—For purposes of this paragraph, the term specified individual means any individual who is—

“(i) a specified social security beneficiary,

“(ii) a specified supplemental security income recipient,

“(iii) a specified railroad retirement beneficiary, or

“(iv) a specified veterans beneficiary.

“(C) Specified social security beneficiary—For purposes of this paragraph—

“(i) In general—The term specified social security beneficiary means any individual who, for the last month that ends prior to the date of enactment of this section, is entitled to any monthly insurance benefit payable under title II of the Social Security Act (42 U.S.C. 401 et seq.), including payments made pursuant to sections 202(d), 223(g), and 223(i)(7) of such Act.

“(ii) Exception—Such term shall not include any individual if such benefit is not payable for such month by reason of section 202(x) of the Social Security Act (42 U.S.C. 402(x)) or section 1129A of such Act (42 U.S.C. 1320a–8a).

“(D) Specified supplemental security income recipient—For purposes of this paragraph—

“(i) In general—The term specified supplemental security income recipient means any individual who, for the last month that ends prior to the date of enactment of this section, is eligible for a monthly benefit payable under title XVI of the Social Security Act (42 U.S.C. 1381 et seq.) (other than a benefit to an individual described in section 1611(e)(1)(B) of such Act (42 U.S.C. 1382(e)(1)(B)), including—

“(I) payments made pursuant to section 1614(a)(3)(C) of such Act (42 U.S.C. 1382c(a)(3)(C)),

“(II) payments made pursuant to section 1619(a) (42 U.S.C. 1382h) or subsections (a)(4), (a)(7), or (p)(7) of section 1631 (42 U.S.C. 1383) of such Act, and

“(III) State supplementary payments of the type referred to in section 1616(a) of such Act (42 U.S.C. 1382e(a)) (or payments of the type described in section 212(a) of Public Law 93–66) which are paid by the Commissioner under an agreement referred to in such section 1616(a) (or section 212(a) of Public Law 93–66).

“(ii) Exception—Such term shall not include any individual if such monthly benefit is not payable for such month by reason of subsection (e)(1)(A) or (e)(4) of section 1611 (42 U.S.C. 1382) or section 1129A of such Act (42 U.S.C. 1320a–8a).

“(E) Specified railroad retirement beneficiary—For purposes of this paragraph, the term specified railroad retirement beneficiary means any individual who, for the last month that ends prior to the date of enactment of this section, is entitled to a monthly annuity or pension payment payable (without regard to section 5(a)(ii) of the Railroad Retirement Act of 1974 (45 U.S.C. 231d(a)(ii))) under—

“(i) section 2(a)(1) of such Act (45 U.S.C. 231a(a)(1)),

“(ii) section 2(c) of such Act (45 U.S.C. 231a(c)),

“(iii) section 2(d)(1) of such Act (45 U.S.C. 231a(d)(1)), or

“(iv) section 7(b)(2) of such Act (45 U.S.C. 231f(b)(2)) with respect to any of the benefit payments described in subparagraph (C)(i).

“(F) Specified veterans beneficiary—For purposes of this paragraph—

“(i) In general—The term specified veterans beneficiary means any individual who, for the last month that ends prior to the date of enactment of this section, is entitled to a compensation or pension payment payable under—

“(I) section 1110, 1117, 1121, 1131, 1141, or 1151 of title 38, United States Code,

“(II) section 1310, 1312, 1313, 1315, 1316, or 1318 of title 38, United States Code,

“(III) section 1513, 1521, 1533, 1536, 1537, 1541, 1542, or 1562 of title 38, United States Code, or

“(IV) section 1805, 1815, or 1821 of title 38, United States Code,

“(ii) Exception—Such term shall not include any individual if such compensation or pension payment is not payable, or was reduced, for such month by reason of section 1505, 5313, or 5313B of title 38, United States Code.

“(G) Subsequent determinations and redeterminations not taken into account—For purposes of this section, any individual’s status as a specified social security beneficiary, a specified supplemental security income recipient, a specified railroad retirement beneficiary, or a specified veterans beneficiary shall be unaffected by any determination or redetermination of any entitlement to, or eligibility for, any benefit, payment, or compensation, if such determination or redetermination occurs after the last month that ends prior to the date of enactment of this section.

“(H) Payment to representative payees and fiduciaries

“(i) In general—If the benefit, payment, or compensation referred to in subparagraph (C)(i), (D)(i), (E), or (F)(i) with respect to any specified individual is paid to a representative payee or fiduciary, payment by the Secretary under paragraph (3) with respect to such specified individual shall be made to such individual’s representative payee or fiduciary and the entire payment shall be used only for the benefit of the individual who is entitled to the payment.

“(ii) Application of enforcement provisions

“(I) In the case of a payment described in clause (i) which is made with respect to a specified social security beneficiary or a specified supplemental security income recipient, section 1129(a)(3) of the Social Security Act (42 U.S.C. 1320a–8(a)(3)) shall apply to such payment in the same manner as such section applies to a payment under title II or XVI of such Act.

“(II) In the case of a payment described in clause (i) which is made with respect to a specified railroad retirement beneficiary, section 13 of the Railroad Retirement Act (45 U.S.C. 231l) shall apply to such payment in the same manner as such section applies to a payment under such Act.

“(III) In the case of a payment described in clause (i) which is made with respect to a specified veterans beneficiary, sections 5502, 6106, and 6108 of title 38, United States Code, shall apply to such payment in the same manner as such sections apply to a payment under such title.

“(6) Notice to taxpayer—Not later than 15 days after the date on which the Secretary distributed any payment to an eligible taxpayer pursuant to this subsection, notice shall be sent by mail to such taxpayer's last known address. Such notice shall indicate the method by which such payment was made, the amount of such payment, and a phone number for the appropriate point of contact at the Internal Revenue Service to report any error with respect to such payment.

“(h) Regulations—The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including—

“(1) regulations or other guidance providing taxpayers the opportunity to provide the Secretary information sufficient to allow the Secretary to make payments to such taxpayers under subsection (g) (including the determination of the amount of such payment) if such information is not otherwise available to the Secretary, and

“(2) regulations or other guidance providing for the proper treatment of joint returns and taxpayers with dependents to ensure that an individual is not taken into account more than once in determining the amount of any credit under subsection (a) and any credit or refund under subsection (g).

“(i) Outreach—The Secretary shall carry out a robust and comprehensive outreach program to ensure that all taxpayers described in subsection (h)(1) learn of their eligibility for the advance refunds and credits under subsection (g); are advised of the opportunity to receive such advance refunds and credits as provided under subsection (h)(1); and are provided assistance in applying for such advance refunds and credits. In conducting such outreach program, the Secretary shall coordinate with other government, State, and local agencies; federal partners; and community-based nonprofit organizations that regularly interface with such taxpayers.”

changed “(i) “(j) Application of credit in possessions

“(1) Mirror code possessions

“(A) In general—The Secretary shall pay to each possession of the United States with a mirror code tax system amounts equal to the loss to that possession by reason of the application of this section (determined without regard to this subsection) with respect to taxable years beginning after 2019. Such amounts shall be determined by the Secretary based on information provided by the government of the respective possession.

“(B) Coordination with credit allowed against United States income taxes—No credit shall be allowed under this section for any taxable year to any individual to whom a credit is allowable against taxes imposed by a possession with a mirror code tax system by reason of the application of this section in such possession for such taxable year.

“(C) Mirror code tax system—For purposes of this paragraph, the term mirror code tax system means, with respect to any possession of the United States, the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the United States as if such possession were the United States.

“(2) Puerto Rico—In the case of any bona fide resident of Puerto Rico (within the meaning of section 937(a))—

“(A) the credit determined under this section shall be allowable to such resident,

“(B) in the case of any taxable year beginning during 2020, the increase determined under the first sentence of subsection (d)(1) shall be the amount determined under subsection (d)(1)(A) (determined without regard to subsection (h)(4)),

“(C) in the case of any taxable year beginning after December 31, 2020, and before January 1, 2026, the increase determined under the first sentence of subsection (d)(1) shall be the lesser of—

“(i) the amount determined under subsection (d)(1)(A) (determined without regard to subsection (h)(4)), or

“(ii) the dollar amount in effect under subsection (h)(5), and

“(D) in the case of any taxable year after December 31, 2025, the increase determined under the first sentence of subsection (d)(1) shall be the amount determined under subsection (d)(1)(A).

“(3) American Samoa

“(A) In general—The Secretary shall pay to American Samoa amounts estimated by the Secretary as being equal to the aggregate benefits that would have been provided to residents of American Samoa by reason of the application of this section for taxable years beginning after 2019 if the provisions of this section had been in effect in American Samoa.

“(B) Distribution requirement—Subparagraph (A) shall not apply unless American Samoa has a plan, which has been approved by the Secretary, under which American Samoa will promptly distribute such payments to the residents of American Samoa in a manner which replicates to the greatest degree practicable the benefits that would have been so provided to each such resident.

“(C) Coordination with credit allowed against United States income taxes

“(i) In general—In the case of a taxable year with respect to which a plan is approved under subparagraph (B), this section (other than this subsection) shall not apply to any individual eligible for a distribution under such plan.

“(ii) Application of section in event of absence of approved plan—In the case of a taxable year with respect to which a plan is not approved under subparagraph (B), rules similar to the rules of paragraph (2) shall apply with respect to bona fide residents of American Samoa (within the meaning of section 937(a)).

“(4) Treatment of payments—The payments made under this subsection shall be treated in the same manner for purposes of section 1324(b)(2) of title 31, United States Code, as refunds due from the credit allowed under this section.”

“(5) Temporary rule for first responders and COVID–19 front line employees

“(A) In general—In the case of any taxable year beginning in 2020—

“(i) subsection (a)(2)(F)(ii) shall be applied by substituting “uniforms, supplies, or equipment” for “uniforms”, and

“(ii) for purposes of subsection (a)(2)(F), the term first responder shall include any COVID–19 front line employee.

changed “(B) COVID–19 front line employee—For purposes of this paragraph, the term COVID–19 front line employee means, with respect to any taxable year, any individual who performs at least 1000 hours of essential work (as defined in the COVID–19 Heroes Fund Act of 2020 except without regard to the time period during which such work is performed) during such taxable year as an employee in a trade or business of an employer.”

“(A) $15,000 in any calendar quarter, and

“(B) $45,000 in the aggregate for all calendar quarters.”

“(6) Large employer—The term large employer means any eligible employer if—

“(A) the average number of full-time employees (as determined for purposes of determining whether an employer is an applicable large employer for purposes of section 4980H(c)(2) of the Internal Revenue Code of 1986) employed by such eligible employer during calendar year 2019 was greater than 1,500, and

“(B) the gross receipts (within the meaning of section 448(c) of the Internal Revenue Code of 1986) of such eligible employer during calendar year 2019 was greater than $41,500,000.”

“(D) Phase-in of credit where business not suspended and reduction in gross receipts less than 50 percent

“(i) In general—In the case of any calendar quarter with respect to which an eligible employer would not be an eligible employer if subparagraph (B)(i) were applied by substituting “50 percent” for “90 percent”, the amount of the credit allowed under subsection (a) shall be reduced by the amount which bears the same ratio to the amount of such credit (determined without regard to this subparagraph) as—

“(I) the excess gross receipts percentage point amount, bears to

“(II) 40 percentage points.

“(ii) Excess gross receipts percentage point amount—For purposes of this subparagraph, the term excess gross receipts percentage point amount means, with respect to any calendar quarter, the excess of—

“(I) the lowest of the gross receipts percentage point amounts determined with respect to any calendar quarter during the period ending with such calendar quarter and beginning with the first calendar quarter during the period described in subparagraph (B), over

“(II) 50 percentage points.

“(iii) Gross receipts percentage point amounts—For purposes of this subparagraph, the term gross receipts percentage point amount means, with respect to any calendar quarter, the percentage (expressed as a number of percentage points) obtained by dividing—

“(I) the gross receipts (within the meaning of subparagraph (B)) for such calendar quarter, by

“(II) the gross receipts for the same calendar quarter in calendar year 2019.”

“(i) clauses (i) and (ii)(I)”

“(ii) any reference in this section to gross receipts shall be treated as a reference to gross receipts within the meaning of section 6033 of such Code.”

“(5) Wages

“(A) In general—The term wages means wages (as defined in section 3121(a) of the Internal Revenue Code of 1986) and compensation (as defined in section 3231(e) of such Code).

“(B) Allowance for certain health plan expenses

“(i) In general—Such term shall include amounts paid or incurred by the eligible employer to provide and maintain a group health plan (as defined in section 5000(b)(1) of the Internal Revenue Code of 1986), but only to the extent that such amounts are excluded from the gross income of employees by reason of section 106(a) of such Code.

“(ii) Allocation rules—For purposes of this section, amounts treated as wages under clause (i) shall be treated as paid with respect to any employee (and with respect to any period) to the extent that such amounts are properly allocable to such employee (and to such period) in such manner as the Secretary may prescribe. Except as otherwise provided by the Secretary, such allocation shall be treated as properly made if made on the basis of being pro rata among periods of coverage.”

“(f) Certain governmental employers

“(1) In general—The credit under this section shall not be allowed to the Federal Government or any agency or instrumentality thereof.

“(2) Exception—Paragraph (1) shall not apply to any organization described in section 501(c)(1) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code.

“(3) Special rules—In the case of any State government, Indian tribal government, or any agency, instrumentality, or political subdivision of the foregoing—

“(A) clauses (i) and (ii)(I) of subsection (c)(2)(A) shall apply to all operations of such entity, and

“(B) subclause (II) of subsection (c)(2)(A)(ii) shall not apply.”

added “(E) Employers of domestic workers—In the case of an employer with one or more employees who perform domestic service (within the meaning of section 3121(a)(7) of such Code) in the private home of such employer, with respect to such employees—

added “(i) subparagraph (A) shall be applied—

added “(I) by substituting “employing an employee who performs domestic service in the private home of such employer” for “carrying on a trade or business” in clause (i) thereof, and

added “(II) by substituting “such employment” for “the operation of the trade or business” in clause (ii)(I) thereof.

added “(ii) subclause (II) of subparagraph (A)(ii) shall not apply, and

added “(iii) such employer shall be treated as a large employer.”

added “(A) for purposes of”

added “(B) if such wages are paid for domestic service described in subsection (c)(2)(E), as employment-related expenses for purposes of section 21 of such Code.”

“(4) References to railroad retirement tax—Any reference in this section to the tax imposed by section 3221(a) of the Internal Revenue Code of 1986 shall be treated as a reference to so much of such tax as is attributable to the rate in effect under section 3111(a) of such Code.”

“(1) In General—The credit allowed by section 7001 and the credit allowed by section 7003 shall each be increased by the amount of the tax imposed by section 3111(b) of the Internal Revenue Code of 1986 and so much of the taxes imposed under section 3221(a) of such Code as are attributable to the rate in effect under section 3111(b) of such Code on qualified sick leave wages, or qualified family leave wages, for which credit is allowed under such section 7001 or 7003 (respectively).”

“(i) In general—In the case of any net operating loss arising in a taxable year beginning after December 31, 2018, and before January 1, 2021, and to which subparagraphs (B) and (C)(i) do not apply, such loss shall be a net operating loss carryback to each taxable year preceding the taxable year of such loss, but not to any taxable year beginning before January 1, 2018.”

“(v) Carryback disallowed for certain taxpayers—Clause (i) shall not apply with respect to any loss arising in a taxable year in which—

“(I) the taxpayer (or any related person) is not allowed a deduction under this chapter for the taxable year by reason of section 162(m) or section 280G, or

“(II) the taxpayer (or any related person) is a specified corporation for the taxable year.

“(vi) Specified corporation—For purposes of clause (v)—

“(I) In general—The term specified corporation means, with respect to any taxable year, a corporation the aggregate distributions (including redemptions) of which during all taxable years ending after December 31, 2017, exceed the sum of applicable stock issued of such corporation and 5 percent of the fair market value of the stock of such corporation as of the last day of the taxable year.

“(II) Applicable stock issued—The term applicable stock issued means, with respect to any corporation, the aggregate fair market value of stock (as of the issue date of such stock) issued by the corporation during all taxable years ending after December 31, 2017, in exchange for money or property other than stock in such corporation.

“(III) Certain preferred stock disregarded—For purposes of subclause (I), stock described in section 1504(a)(4), and distributions (including redemptions) with respect to such stock, shall be disregarded.

“(vii) Related person—For purposes of clause (v), a person is a related person to a taxpayer if the related person bears a relationship to the taxpayer specified in section 267(b) or section 707(b)(1).”

“(e) Specified percentage points—For purposes of subsection (a), the percentage points specified in this subsection are—

“(1) for each calendar quarter occurring during the period beginning on the first day of the emergency period described in paragraph (1)(B) of section 1135(g) of the Social Security Act (42 U.S.C. 1320b-5(g)) and ending on June 30, 2020, 6.2 percentage points;

“(2) for each calendar quarter occurring during the period beginning on July 1, 2020, and ending on June 30, 2021, 14 percentage points; and

“(3) for each calendar quarter, if any, occurring during the period beginning on July 1, 2021, and ending on the last day of the calendar quarter in which the last day of such emergency period occurs, 6.2 percentage points.

“(f) Clarifications

“(1) In the case of a State that treats an individual described in subsection (b)(3) as eligible for the benefits described in such subsection, for the period described in subsection (a), expenditures for medical assistance and administrative costs attributable to such individual that would not otherwise be included as expenditures under section 1903 of the Social Security Act shall be regarded as expenditures under the State plan approved under title XIX of the Social Security Act or for administration of such State plan.

“(2) The limitations on payment under subsections (f) and (g) of section 1108 of the Social Security Act (42 U.S.C. 1308) shall not apply to Federal payments made under section 1903(a)(1) of the Social Security Act (42 U.S.C. 1396b(a)(1)) attributable to the increase in the Federal medical assistance percentage under this section.

“(3) Expenditures attributable to the increased Federal medical assistance percentage under this section shall not be counted for purposes of the limitations under section 2104(b)(4) of such Act (42 U.S.C. 1397dd(b)(4)).

added “(4) Notwithstanding the first sentence of section 2105(b) of the Social Security Act (42 U.S.C. 1397ee(b)), the application of the increase under this section may result in the enhanced FMAP of a State for a fiscal year under such section exceeding 85 percent, but in no case may the application of such increase before application of the second sentence of such section result in the enhanced FMAP of the State exceeding 95 percent.

“(g) Scope of application—An increase in the Federal medical assistance percentage for a State under this section shall not be taken into account for purposes of payments under part D of title IV of the Social Security Act (42 U.S.C. 651 et seq.).”

“(H) during the portion of the emergency period described in paragraph (1)(B) of section 1135(g) beginning on the date of the enactment of this subparagraph, a COVID–19 vaccine licensed under section 351 of the Public Health Service Act, or approved or authorized under section 505 or 564 of the Federal Food, Drug, and Cosmetic Act, and the administration of such vaccine, or

“(I) during such portion of the emergency period described in paragraph (1)(B) of section 1135(g), any item or service furnished for the treatment of COVID–19, including drugs approved or authorized under such section 505 or such section 564 or, in the case of an individual who is diagnosed with or presumed to have COVID–19, during the portion of such emergency period during which such individual is infected (or presumed infected) with COVID–19, the treatment of a condition that may complicate the treatment of COVID–19; and”

“(xii) During the portion of the emergency period described in paragraph (1)(B) of section 1135(g) beginning on the date of the enactment of this clause, a COVID–19 vaccine licensed under section 351 of the Public Health Service Act, or approved or authorized under section 505 or 564 of the Federal Food, Drug, and Cosmetic Act, and the administration of such vaccine.

“(xiii) During such portion of the emergency period described in paragraph (1)(B) of section 1135(g), an item or service furnished for the treatment of COVID–19, including drugs approved or authorized under such section 505 or such section 564 or, in the case of an individual who is diagnosed with or presumed to have COVID–19, during such portion of such emergency period during which such individual is infected (or presumed infected) with COVID–19, the treatment of a condition that may complicate the treatment of COVID–19.”

“(C) during the portion of the emergency period described in paragraph (1)(B) of section 1135(g) beginning on the date of the enactment of this subparagraph, each vaccine-eligible child (as defined in subsection (b)) is entitled to receive a COVID–19 vaccine from a program-registered provider (as defined in subsection (h)(7)) without charge for—

“(i) the cost of such vaccine; or

“(ii) the administration of such vaccine.”

“(D) The provider will provide and administer an approved COVID–19 vaccine to a vaccine-eligible child in accordance with the same requirements as apply under the preceding subparagraphs to the provision and administration of a qualified pediatric vaccine to such a child.”

“(11) Coverage of COVID–19 vaccines and treatment—Regardless of the type of coverage elected by a State under subsection (a), child health assistance provided under such coverage for targeted low-income children and, in the case that the State elects to provide pregnancy-related assistance under such coverage pursuant to section 2112, such pregnancy-related assistance for targeted low-income pregnant women (as defined in section 2112(d)) shall include coverage, during the portion of the emergency period described in paragraph (1)(B) of section 1135(g) beginning on the date of the enactment of this paragraph, of—

“(A) a COVID–19 vaccine licensed under section 351 of the Public Health Service Act, or approved or authorized under section 505 or 564 of the Federal Food, Drug, and Cosmetic Act, and the administration of such vaccine; and

“(B) any item or service furnished for the treatment of COVID–19, including drugs approved or authorized under such section 505 or such section 564, or, in the case of an individual who is diagnosed with or presumed to have COVID–19, during the portion of such emergency period during which such individual is infected (or presumed infected) with COVID–19, the treatment of a condition that may complicate the treatment of COVID–19.”

Section 1905 of the Social Security Act (42 U.S.C. 1396d) is amended—

“(9) clinic services furnished by or under the direction of a physician, without regard to whether the clinic itself is administered by a physician, including—

“(A) such services furnished outside the clinic by clinic personnel to an eligible individual who does not reside in a permanent dwelling or does not have a fixed home or mailing address; and

“(B) for the period beginning on July 1, 2020, and ending on June 30, 2021, such services provided outside the clinic on the basis of a referral from a clinic administered by an Indian Health Program (as defined in paragraph (12) of section 4 of the Indian Health Care Improvement Act, or an Urban Indian Organization as defined in paragraph (29) of section 4 of such Act that has a grant or contract with the Indian Health Service under title V of such Act;”

“(vii) For discharges that have a primary or secondary diagnosis of COVID–19 and that occur during the period beginning on the date of the enactment of this clause and ending on the sooner of January 31, 2021, or the last day of the emergency period described in section 1135(g)(1)(B), the amount of any additional payment under clause (ii) for a subsection (d) hospital for such a discharge shall be determined as if—

“(I) clause (ii) was amended by striking “plus a fixed dollar amount determined by the Secretary”;

“(II) the reference in clause (iii) to “approximate the marginal cost of care beyond the cutoff point applicable under clause (i) or (ii)” were a reference to “approximate the marginal cost of care beyond the cutoff point applicable under clause (i), or, in the case of an additional payment requested under clause (ii), be equal to 100 percent of the amount by which the costs of the discharge for which such additional payment is so requested exceed the applicable DRG prospective payment rate”; and

“(III) clause (iv) does not apply.”

removed “(ii) Exception—Notwithstanding clause (i), the term applicable site neutral payment rate means—

removed “(I) for discharges that have a primary or secondary diagnosis of COVID–19 and that occur during any portion of the emergency period described in section 1135(g)(1)(B) occurring during a cost reporting period described in clause (i)(I), the greater of the blended payment rate specified in clause (iv) or the percent described in clause (iii)(II); and

removed “(II) for discharges that have a primary or secondary diagnosis of COVID–19 and that occur during any portion of the emergency period described in section 1135(g)(1)(B) occurring during a cost reporting period described in clause (i)(II), the percent described in clause (iii)(II).”

changed “(vii) Special coverage rules for specified COVID–19 treatment services—Notwithstanding clause (i), in the case of a specified COVID–19 treatment service (as defined in section 30201(b) of the HEROES The Heroes Act) that is furnished during a plan year occurring during any portion of the emergency period defined in section 1135(g)(1)(B) beginning on or after the date of the enactment of this clause, a Medicare Advantage plan may not, with respect to such service, impose—

“(I) any cost-sharing requirement (including a deductible, copayment, or coinsurance requirement); and

“(II) in the case such service is a critical specified COVID–19 treatment service (including ventilator services and intensive care unit services), any prior authorization or other utilization management requirement.”

“(iv) Floor on area wage index for hospitals in all-urban States

“(I) In general—For discharges occurring on or after October 1, 2021, the area wage index applicable under this subparagraph to any hospital in an all-urban State (as defined in subclause (IV)) may not be less than the minimum area wage index for the fiscal year for hospitals in that State, as established under subclause (II).

“(II) Minimum area wage index—For purposes of subclause (I), the Secretary shall establish a minimum area wage index for a fiscal year for hospitals in each all-urban State using the methodology described in section 412.64(h)(4) of title 42, Code of Federal Regulations, as in effect for fiscal year 2018.

“(III) Waiving budget neutrality—Pursuant to the fifth sentence of clause (i), this subsection shall not be applied in a budget neutral manner.

“(IV) All-urban State defined—In this clause, the term all-urban State means a State in which there are no rural areas (as defined in paragraph (2)(D)) or a State in which there are no hospitals classified as rural under this section.”

“716. Provision of prescription drug refill notifications during emergencies

“(a) In general—A group health plan, and a health insurance issuer offering health insurance coverage in connection with a group health plan, that provides benefits for prescription drugs under such plan or such coverage shall provide to each participant or beneficiary under such plan or such coverage who resides in an emergency area during an emergency period—

changed “(1) not later than 5 business days after the date of the beginning of such period with respect to such area (or, the case of the emergency period described in section 30304(d)(2) of the HEROES The Heroes Act, not later than 5 business days after the date of the enactment of this section), a notification (written in a manner that is clear and understandable to the average participant or beneficiary)—

“(A) of whether such plan or coverage will waive, during such period with respect to such a participant or beneficiary, any time restrictions under such plan or coverage on any authorized refills for such drugs to enable such refills in advance of when such refills would otherwise have been permitted under such plan or coverage; and

“(B) in the case that such plan or coverage will waive such restrictions during such period with respect to such a participant or beneficiary, that contains information on how such a participant or beneficiary may obtain such a refill; and

“(2) in the case such plan or coverage elects to so waive such restrictions during such period with respect to such a participant or beneficiary after the notification described in paragraph (1) has been provided with respect to such period, not later than 5 business days after such election, a notification of such election that contains the information described in subparagraph (B) of such paragraph.

“(b) Emergency area; emergency period—For purposes of this section, an “emergency area” is a geographical area in which, and an “emergency period” is the period during which, there exists—

“(1) an emergency or disaster declared by the President pursuant to the National Emergencies Act or the Robert T. Stafford Disaster Relief and Emergency Assistance Act; and

“(2) a public health emergency declared by the Secretary pursuant to section 319 of the Public Health Service Act.”

“2730. Provision of prescription drug refill notifications during emergencies

“(a) In general—A group health plan, and a health insurance issuer offering group or individual health insurance coverage, that provides benefits for prescription drugs under such plan or such coverage shall provide to each participant, beneficiary, or enrollee enrolled under such plan or such coverage who resides in an emergency area during an emergency period—

changed “(1) not later than 5 business days after the date of the beginning of such period with respect to such area (or, the case of the emergency period described in section 30304(d)(2) of the HEROES The Heroes Act, not later than 5 business days after the date of the enactment of this section), a notification (written in a manner that is clear and understandable to the average participant, beneficiary, or enrollee)—

“(A) of whether such plan or coverage will waive, during such period with respect to such a participant, beneficiary, or enrollee, any time restrictions under such plan or coverage on any authorized refills for such drugs to enable such refills in advance of when such refills would otherwise have been permitted under such plan or coverage; and

“(B) in the case that such plan or coverage will waive such restrictions during such period with respect to such a participant, beneficiary, or enrollee, that contains information on how such a participant, beneficiary, or enrollee may obtain such a refill; and

“(2) in the case such plan or coverage elects to so waive such restrictions during such period with respect to such a participant, beneficiary, or enrollee after the notification described in paragraph (1) has been provided with respect to such period, not later than 5 business days after such election, a notification of such election that contains the information described in subparagraph (B) of such paragraph.

“(b) Emergency area; emergency period—For purposes of this section, an “emergency area” is a geographical area in which, and an “emergency period” is the period during which, there exists—

“(1) an emergency or disaster declared by the President pursuant to the National Emergencies Act or the Robert T. Stafford Disaster Relief and Emergency Assistance Act; and

“(2) a public health emergency declared by the Secretary pursuant to section 319.”

“9816. Provision of prescription drug refill notifications during emergencies

changed “(a) In general—A group health plan that provides benefits for prescription drugs under such plan shall provide to each participant or beneficiary enrolled under such plan who resides in an emergency area during an emergency period, not later than 5 business days after the date of the beginning of such period with respect to such area (or, the case of the emergency period described in section 30304(d)(2) of the HEROES The Heroes Act, not later than 5 business days after the date of the enactment of this section)—

“(1) a notification (written in a manner that is clear and understandable to the average participant or beneficiary)—

“(A) of whether such plan will waive, during such period with respect to such a participant or beneficiary, any time restrictions under such plan on any authorized refills for such drugs to enable such refills in advance of when such refills would otherwise have been permitted under such plan; and

“(B) in the case that such plan will waive such restrictions during such period with respect to such a participant or beneficiary, that contains information on how such a participant or beneficiary may obtain such a refill; and

“(2) in the case such plan elects to so waive such restrictions during such period with respect to such a participant or beneficiary after the notification described in paragraph (1) has been provided with respect to such period, not later than 5 business days after such election, a notification of such election that contains the information described in subparagraph (B) of such paragraph.

“(b) Emergency area; emergency period—For purposes of this section, an “emergency area” is a geographical area in which, and an “emergency period” is the period during which, there exists—

“(1) an emergency or disaster declared by the President pursuant to the National Emergencies Act or the Robert T. Stafford Disaster Relief and Emergency Assistance Act; and

“(2) a public health emergency declared by the Secretary pursuant to section 319 of the Public Health Service Act.”

“3016. National Centers of Excellence in Continuous Pharmaceutical Manufacturing

“(a) In general—The Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs—

changed “(1) shall solicit and, beginning not later than 1 year after the date of enactment of the National Centers of Excellence in Continuous Pharmaceutical Manufacturing Act of 2019, Inspector General Independence Act, receive requests from institutions of higher education to be designated as a National Center of Excellence in Continuous Pharmaceutical Manufacturing (in this section referred to as a “National Center of Excellence”) to support the advancement and development of continuous manufacturing; and

“(2) shall so designate any institution of higher education that—

“(A) requests such designation; and

“(B) meets the criteria specified in subsection (c).

“(b) Request for designation—A request for designation under subsection (a) shall be made to the Secretary at such time, in such manner, and containing such information as the Secretary may require. Any such request shall include a description of how the institution of higher education meets or plans to meet each of the criteria specified in subsection (c).

“(c) Criteria for designation described—The criteria specified in this subsection with respect to an institution of higher education are that the institution has, as of the date of the submission of a request under subsection (a) by such institution—

“(1) physical and technical capacity for research and development of continuous manufacturing;

“(2) manufacturing knowledge-sharing networks with other institutions of higher education, large and small pharmaceutical manufacturers, generic and nonprescription manufacturers, contract manufacturers, and other entities;

“(3) proven capacity to design and demonstrate new, highly effective technology for use in continuous manufacturing;

“(4) a track record for creating and transferring knowledge with respect to continuous manufacturing;

“(5) the potential to train a future workforce for research on and implementation of advanced manufacturing and continuous manufacturing; and

“(6) experience in participating in and leading a continuous manufacturing technology partnership with other institutions of higher education, large and small pharmaceutical manufacturers (including generic and nonprescription drug manufacturers), contract manufacturers, and other entities—

“(A) to support companies with continuous manufacturing in the United States;

“(B) to support Federal agencies with technical assistance, which may include regulatory and quality metric guidance as applicable, for advanced manufacturing and continuous manufacturing;

“(C) with respect to continuous manufacturing, to organize and conduct research and development activities needed to create new and more effective technology, capture and disseminate expertise, create intellectual property, and maintain technological leadership;

“(D) to develop best practices for designing continuous manufacturing; and

“(E) to assess and respond to the workforce needs for continuous manufacturing, including the development of training programs if needed.

“(d) Termination of designation—The Secretary may terminate the designation of any National Center of Excellence designated under this section if the Secretary determines such National Center of Excellence no longer meets the criteria specified in subsection (c). Not later than 60 days before the effective date of such a termination, the Secretary shall provide written notice to the National Center of Excellence, including the rationale for such termination.

“(e) Conditions for designation—As a condition of designation as a National Center of Excellence under this section, the Secretary shall require that an institution of higher education enter into an agreement with the Secretary under which the institution agrees—

“(1) to collaborate directly with the Food and Drug Administration to publish the reports required by subsection (g);

“(2) to share data with the Food and Drug Administration regarding best practices and research generated through the funding under subsection (f);

“(3) to develop, along with industry partners (which may include large and small biopharmaceutical manufacturers, generic and nonprescription manufacturers, and contract manufacturers) and another institution or institutions designated under this section, if any, a roadmap for developing a continuous manufacturing workforce;

“(4) to develop, along with industry partners and other institutions designated under this section, a roadmap for strengthening existing, and developing new, relationships with other institutions; and

“(5) to provide an annual report to the Food and Drug Administration regarding the institution’s activities under this section, including a description of how the institution continues to meet and make progress on the criteria listed in subsection (c).

“(f) Funding

“(1) In general—The Secretary shall award funding, through grants, contracts, or cooperative agreements, to the National Centers of Excellence designated under this section for the purpose of studying and recommending improvements to continuous manufacturing, including such improvements as may enable the Centers—

“(A) to continue to meet the conditions specified in subsection (e); and

“(B) to expand capacity for research on, and development of, continuing manufacturing.

“(2) Consistency with FDA mission—As a condition on receipt of funding under this subsection, a National Center of Excellence shall agree to consider any input from the Secretary regarding the use of funding that would—

“(A) help to further the advancement of continuous manufacturing through the National Center of Excellence; and

“(B) be relevant to the mission of the Food and Drug Administration.

“(3) Authorization of appropriations—There is authorized to be appropriated to carry out this subsection $100,000,000, to remain available until expended.

“(4) Rule of construction—Nothing in this section shall be construed as precluding a National Center for Excellence designated under this section from receiving funds under any other provision of this Act or any other Federal law.

“(g) Annual review and reports

“(1) Annual report—Beginning not later than 1 year after the date on which the first designation is made under subsection (a), and annually thereafter, the Secretary shall—

“(A) submit to Congress a report describing the activities, partnerships and collaborations, Federal policy recommendations, previous and continuing funding, and findings of, and any other applicable information from, the National Centers of Excellence designated under this section; and

“(B) make such report available to the public in an easily accessible electronic format on the website of the Food and Drug Administration.

“(2) Review of national centers of excellence and potential designees—The Secretary shall periodically review the National Centers of Excellence designated under this section to ensure that such National Centers of Excellence continue to meet the criteria for designation under this section.

“(3) Report on long-term vision of FDA role—Not later than 2 years after the date on which the first designation is made under subsection (a), the Secretary, in consultation with the National Centers of Excellence designated under this section, shall submit a report to the Congress on the long-term vision of the Department of Health and Human Services on the role of the Food and Drug Administration in supporting continuous manufacturing, including—

“(A) a national framework of principles related to the implementation and regulation of continuous manufacturing;

“(B) a plan for the development of Federal regulations and guidance for how advanced manufacturing and continuous manufacturing can be incorporated into the development of pharmaceuticals and regulatory responsibilities of the Food and Drug Administration; and

“(C) appropriate feedback solicited from the public, which may include other institutions, large and small biopharmaceutical manufacturers, generic and nonprescription manufacturers, and contract manufacturers.

“(h) Definitions—In this section:

“(1) Advanced manufacturing—The term advanced manufacturing means an approach for the manufacturing of pharmaceuticals that incorporates novel technology, or uses an established technique or technology in a new or innovative way (such as continuous manufacturing where the input materials are continuously transformed within the process by two or more unit operations) that enhances drug quality or improves the manufacturing process.

“(2) Continuous manufacturing—The term continuous manufacturing—

“(A) means a process where the input materials are continuously fed into and transformed within the process, and the processed output materials are continuously removed from the system; and

“(B) consists of an integrated process that consists of a series of two or more unit operations.

“(3) Institution of higher education—The term institution of higher education has the meaning given such term in section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a)).

“(4) Secretary—The term Secretary means the Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs.”

“(3) Applicable accumulation test minimum rate—For purposes of paragraph (2)(A), the term applicable accumulation test minimum rate means the lesser of—

“(A) an annual effective rate of 4 percent, or

“(B) the insurance interest rate (as defined in subsection (f)(11)) in effect at the time the contract is issued.”

“(E) Applicable guideline premium minimum rate—For purposes of subparagraph (B)(iii), the term applicable guideline premium minimum rate means the applicable accumulation test minimum rate (as defined in subsection (b)(3)) plus 2 percentage points.”

“(11) Insurance interest rate—For purposes of this section—

“(A) In general—The term insurance interest rate means, with respect to any contract issued in any calendar year, the lesser of—

“(i) the section 7702 valuation interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year), or

“(ii) the section 7702 applicable Federal interest rate for such calendar year (or, if such calendar year is not an adjustment year, the most recent adjustment year).

“(B) Section 7702 valuation interest rate—The term section 7702 valuation interest rate means, with respect to any adjustment year, the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners’ Standard Valuation Law) as effective in the calendar year immediately preceding such adjustment year.

“(C) Section 7702 applicable Federal interest rate—The term section 7702 applicable Federal interest rate means, with respect to any adjustment year, the average (rounded to the nearest whole percentage point) of the applicable Federal mid-term rates (as defined in section 1274(d) but based on annual compounding) effective as of the beginning of each of the calendar months in the most recent 60-month period ending before the second calendar year prior to such adjustment year.

“(D) Adjustment year—The term adjustment year means the calendar year following any calendar year that includes the effective date of a change in the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners' Standard Valuation Law).

“(E) Transition rule—Notwithstanding subparagraph (A), the insurance interest rate shall be 2 percent in the case of any contract which is issued during the period that—

“(i) begins on January 1, 2021, and

changed “(i) “(ii) ends immediately before the beginning of the first adjustment year that beings after December 31, 2021.”

Section 210A(i) of the Agricultural Marketing Act of 1946 (7 U.S.C. 1627c(d)) is amended by adding at the end the following:

“(4) Grants for COVID–19 losses

changed “(A) In general—In addition to grants made under the preceding provisions of this subsection, the Secretary shall make grants to eligible entities specified in paragraphs (5)(B) and (6)(B) of subsection (d)(6)(B) (d) to provide assistance in response to the COVID–19 pandemic.

“(B) Matching funds applicability—The Secretary may not require a recipient of a grant under subparagraph (A) to provide any nonFederal matching funds.

“(F) Funding—There is appropriated, out of any funds in the Treasury not otherwise appropriated, to carry out this paragraph, $50,000,000, to remain available until expended.”

Section 2501 of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 2279) is amended by adding at the end the following:

“(m) Additional funding

changed “(1) In general—The Secretary shall make grants to, or enter into cooperative agreements or contracts with, eligible entities specified in subsection (c)(1) or entities eligible for grants under subsection (d) to provide training, outreach, and technical assistance on operations, financing, and marketing to beginning farmers and ranchers, socially disadvantaged farmers and ranchers, and veteran farmers and ranchers.

“(2) Matching funds applicability—The Secretary may not require a recipient of a grant under this subsection to provide any nonFederal matching funds.

“(3) Funding—There is appropriated, out of any funds in the Treasury not otherwise appropriated, to carry out this subsection, $50,000,000, to remain available until expended.”

“(6) include annual goals for increasing the percent of employees of the executive agency participating in teleworking—

“(A) three or more days per pay period;

“(B) one or 2 days per pay period;

“(C) once per month; and

“(D) on an occasional, episodic, or short-term basis; and

changed “(7) include methods for collecting data on, setting goals for, and reporting costs savings to the executive agency achieved through teleworking, consistent with the guidance developed under section 70302 (c) of the HEROES The Heroes Act.”

“(d) Notification for reduction in teleworking participation—Not later than 30 days before the date that an executive agency implements or modifies a teleworking plan that would reduce the percentage of employees at the agency who telework, the head of the executive agency shall provide written notification, including a justification for the reduction in telework participation and a description of how the agency will pay for any increased costs resulting from that reduction, to—

“(1) the Director of the Office of Personnel Management;

“(2) the Committee on Oversight and Reform of the House of Representatives; and

“(3) the Committee on Homeland Security and Governmental Affairs of the Senate.

“(e) Prohibition on agency-wide limits on teleworking—An agency may not prohibit any delineated period of teleworking participation for all employees of the agency, including the periods described in subparagraphs (A) through (D) of subsection (b)(6). The agency shall make any teleworking determination with respect to an employee or group of employees at the agency on a case-by-case basis.”

“(H) agency cost savings achieved through teleworking, consistent with the guidance developed under section 2(c) of the Telework Metrics and Cost Savings Act; and

“(I) a detailed explanation of a plan to increase the Government-wide teleworking participation rate above such rate applicable to fiscal year 2016, including agency-level plans to maintain or imparove such rate for each of the teleworking frequency categories listed under subparagraph (A)(iii).”

added Section 1712A of title 38, United States Code, is amended—

added “(iv) Any individual who is a veteran or member of the Armed Forces (including the reserve components), who, in response to a covered public health emergency, performed active service or State active duty for a period of at least 14 days.”

added “(4) The term active service has the meaning given that term in section 101 of title 10.

added “(5) The term covered public health emergency means the declaration—

added “(A) of a public health emergency, based on an outbreak of COVID–19, by the Secretary of Health and Human Services under section 319 of the Public Health Service Act (42 U.S.C. 247d); or

added “(B) of a domestic emergency, based on an outbreak of COVID–19, by the President, the Secretary of Homeland Security, or a State or local authority.”

“(vii) Inclusion of critical access hospitals—During the covered period, any nonprofit organization that is a critical access hospital (as defined in section 1861(mm) of the Social Security Act (42 U.S.C. 1395x(mm))) shall be eligible to receive a covered loan, regardless of the status of such a hospital as a debtor in a case under chapter 11 of title 11, Unites States Code, or the status of any debts owed by such a hospital to the Federal Government.”

added “(ff) any compensation of an employee who is a registered lobbyist under the Lobbying Disclosure Act of 1995;”

added “(xiii) the term housing cooperative means a cooperative housing corporation (as defined in section 216(b) of the Internal Revenue Code of 1986).”

added “(vii) Nonprofit organization eligibility—During the covered period, any nonprofit organization shall be eligible to receive a covered loan. Any 501(c)(4) organization (as defined in section 501(c)(4) of the Internal Revenue Code of 1986) may receive a covered loan provided that such 501(c)(4) organization has not made and will not make a contribution, expenditure, independent expenditure, or electioneering communication within the meaning of the Federal Election Campaign Act, and has not undertaken and will not undertake similar campaign finance activities in State and local elections, during the election cycle which ends on the date of the general election in this calendar year;”

“(IV) any nonprofit organization.”

“(I) employs”

“(II) is assigned a North American Industry Classification System code beginning with 511110, 515112, or 515120 and the individual physical location at the time of disbursal does not exceed the size standard established by the Administrator for the applicable code shall be eligible to receive a covered loan for expenses associated with an individual physical location of that business concern to support the continued provision of local news, information, content, or emergency information, and, at the time of disbursal, the individual physical location.”

“(V) an individual physical location of a business concern described in clause (iii)(II), if such concern shall not pay, distribute, or otherwise provide any portion of the covered loan to any other entity other than the individual physical location that is the intended recipient of the covered loan.”

changed “(vii) “(viii) Additional requirements for news broadcast entities

changed “(I) In general—With respect to an individual physical location of a business concern described in clause (iii)(II), each such location shall be treated as an independent, nonaffiliated entity for purposes of this paragraph.paragraph. A parent company, investment company, or management company of one or more physical locations of a business concern described in clause (iii)(II) shall not be eligible for a covered loan.

“(II) Demonstration of need—Any such location that is a franchise or affiliate of, or owned or controlled by a parent company, investment company, or the management thereof, shall demonstrate, upon request of the Administrator, the need for a covered loan to support the continued provision of local news, information, content, or emergency information, and, at the time of disbursal, the individual physical location.

“(III) Report—The Administrator and Secretary of the Treasury shall submit to the Committee on Small Business of the House of Representatives, the Committee on Small Business and Entrepreneurship of the Senate, and the Congressional Oversight Commission established under section 4020 of the CARES Act a report including information on loans made to an entity described under this clause.”

“(S) Set aside for certain entities—The Administrator shall provide for the cost to guarantee covered loans made under this paragraph—

“(i) a set aside of not less than 25 percent of each such amount for covered loans made to eligible recipients with 10 or fewer employees; and

“(ii) a set aside of 25 percent of each such amount for covered loans made to nonprofit organizations, of which not more than 12.5 percent of each such amount set aside may be used to make covered loans to nonprofit organizations with 500 or more employees.”

“(T) Amounts returned—Any amounts returned to the Secretary of the Treasury due to the cancellation of a covered loan shall be solely used for the cost to guarantee covered loans made to eligible recipients with 10 or fewer employees.”

“(U) Treatment of certain criminal violations

“(i) Financial fraud or deception—A entity that is a business, organization, cooperative, or enterprise may not receive a covered loan if an owner of 20 percent or more of the equity of such entity, during the 5-year period preceding the date on which such entity applies for a covered loan, has been convicted of a felony of financial fraud or deception under Federal, State, or Tribal law.

“(ii) Arrests or convictions—An entity that is a business, organization, cooperative, or enterprise shall be an eligible recipient notwithstanding a prior arrest or conviction under Federal, State, or Tribal law of an owner of 20 percent or more of the equity of such entity, unless such owner is currently incarcerated.

“(iii) Waiver—The Administrator may waive the requirements of clause (i).”

changed “(V) Technical assistance for community financial institutions—Of amounts appropriated to carry out this paragraph, the Secretary of the Treasury, in consultation with the Administrator, shall use $1,000,000,000 $250,000,000 of such amounts to provide grants to community financial institutions, insured depository institutions with consolidated assets of less than $10,000,000,000, and credit unions with consolidated assets of less than $10,000,000,000, to ensure such institutions can update their systems (including updates related to compliance with the Bank Secrecy Act) and efficiently provide loans that are guaranteed under this paragraph.”

“(C) a Veteran Business Outreach Center (as described under section 32(d) of the Small Business Act); and

“(D) the Service Corps of Retired Executives Association, or any successor or other organization, that receives a grant from the Administrator to operate the SCORE program established under section 8(b)(2)(A) of the Small Business Act;”

“(C) $10,000,000 shall be for a Veteran Business Outreach Center described in section 1103(a)(2)(C) of this Act to carry out activities under such section; and

“(D) $10,000,000 shall be for the Service Corps of Retired Executives Association described in section 1103(a)(2)(D) of this Act to carry out activities under such section;”

“(3) the term covered period means the period beginning on the date of the origination of a covered loan and ending on the earlier of—

“(A) the date that is 24 weeks after such date of origination; or

“(B) December 31, 2020;”

changed “(E) interest on any other debt obligations that were incurred before the covered period; andperiod;

“(F) any amount that was a loan made under subsection (b)(2) that was refinanced as part of a covered loan and authorized by section 7(a)(36)(F)(iv) of the Small Business Act; and”

“(5) Any payment of interest on any other debt obligations that were incurred before the covered period.

“(6) Any amount that was a loan made under section 7(b)(2) of the Small Business Act that was refinanced as part of a covered loan and authorized by section 7(a)(36)(F)(iv) of such Act.”

“(4) information on the veteran status, gender, race, and ethnicity, as reported on Form 1919 of the Administration or any similar loan application form of the Administration, of the eligible recipient;

“(5) the number of full-time equivalent employees of the eligible recipient—

“(A) on February 15, 2020;

“(B) on the day the eligible recipient submitted an application for a covered loan; and

“(C) on the day the eligible recipient submitted an application for forgiveness of a covered loan under this section; and”

“(7) Exemption based on employee availability—During the period beginning on February 15, 2020 and ending on December 31, 2020, the amount of loan forgiveness under this section shall be determined without regard to a reduction in the number of full-time equivalent employees if an eligible recipient—

changed “(A) is unable rehire an individual who was an employee of the eligible recipient on or before February 15, 2020; or2020;

changed “(B) is able to demonstrate an inability to find similarly qualified employees on or before December 31, 2020.”2020; or

added “(C) is able to demonstrate an inability to return to the same level of business activity as such business was operating at prior to February 15, 2020.”

“(8) No limitations—In carrying out this section, the Administrator may not limit the non-payroll portion of a forgivable covered loan amount.”

“(g) Election to not take certain wages into account

“(1) In general—This section shall not apply to qualified wages paid by an eligible employer with respect to which such employer makes an election (at such time and in such manner as the Secretary may prescribe) to have this section not apply to such wages.

“(2) Coordination with paycheck protection program—The Secretary, in consultation with the Administrator of the Small Business Administration, shall issue guidance providing that payroll costs paid or incurred during the covered period shall not fail to be treated as qualified wages under this section by reason of an election under paragraph (1) to the extent that a covered loan of the eligible employer is not forgiven by reason of a decision under section 1106(g). Terms used in the preceding sentence which are also used in section 1106 shall have the same meaning as when used in such section.”

added “(VIII) costs related to the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees.”

added “(G) payments made for the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees; and”

added “(7) Any payment made for the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees.”

removed Section 1112 of the CARES Act (Public Law 116–136) is amended by inserting at the end the following new subsection:

removed “(g) Taxability—For purposes of the Internal Revenue Code of 1986, any payment under this section shall not be included in the gross income of the taxpayer on whose behalf such payment is made.”

Section 7(a)(7) of the Small Business Act (15 U.S.C. 636(a)(7)) is amended—

“(B) Deferral requirements—With respect to a deferral provided under this paragraph, the Administrator—

changed “(i) shall require lenders under this subsection to provide full payment deferment relief (including payment of principal and interest) for a period of not less more than 1 year; and

“(ii) may allow lenders under this subsection provide an additional deferment period if the borrower provides documentation justifying such additional deferment.

“(C) Secondary market—If an investor declines to approve a deferral or additional deferment requested by a lender under subparagraph (B), the Administrator shall exercise the authority to purchase the loan so that the borrower may receive full payment deferment relief (including payment of principal and interest) or an additional deferment as described under subparagraph (B).”

“(C) Refinancing not involving expansions

“(i) Definitions—In this subparagraph—

“(I) the term borrower means a small business concern that submits an application to a development company for financing under this subparagraph;

“(II) the term eligible fixed asset means tangible property relating to which the Administrator may provide financing under this section; and

“(III) the term qualified debt means indebtedness that—

“(aa) was incurred not less than 6 months before the date of the application for assistance under this subparagraph;

“(bb) is a commercial loan;

“(cc) the proceeds of which were used to acquire an eligible fixed asset;

“(dd) was incurred for the benefit of the small business concern; and

“(ee) is collateralized by eligible fixed assets; and

“(ii) Authority—A project that does not involve the expansion of a small business concern may include the refinancing of qualified debt if—

“(I) the amount of the financing is not more than 90 percent of the value of the collateral for the financing, except that, if the appraised value of the eligible fixed assets serving as collateral for the financing is less than the amount equal to 125 percent of the amount of the financing, the borrower may provide additional cash or other collateral to eliminate any deficiency;

“(II) the borrower has been in operation for all of the 2-year period ending on the date the loan application is submitted; and

“(III) for a financing for which the Administrator determines there will be an additional cost attributable to the refinancing of the qualified debt, the borrower agrees to pay a fee in an amount equal to the anticipated additional cost.

“(iii) Financing for business expenses

“(I) Financing for business expenses—The Administrator may provide financing to a borrower that receives financing that includes a refinancing of qualified debt under clause (ii), in addition to the refinancing under clause (ii), to be used solely for the payment of business expenses.

“(II) Application for financing—An application for financing under subclause (I) shall include—

“(aa) a specific description of the expenses for which the additional financing is requested; and

“(bb) an itemization of the amount of each expense.

“(III) Condition on additional financing—A borrower may not use any part of the financing under this clause for non-business purposes.

“(iv) Loans based on jobs

“(I) Job creation and retention goals

“(aa) In general—The Administrator may provide financing under this subparagraph for a borrower that meets the job creation goals under subsection (d) or (e) of section 501.

“(bb) Alternate job retention goal—The Administrator may provide financing under this subparagraph to a borrower that does not meet the goals described in item (aa) in an amount that is not more than the product obtained by multiplying the number of employees of the borrower by $75,000.

“(II) Number of employees—For purposes of subclause (I), the number of employees of a borrower is equal to the sum of—

“(aa) the number of full- time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph; and

“(bb) the product obtained by multiplying—

“(AA) the number of part-time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph, by

“(BB) the quotient obtained by dividing the average number of hours each part time employee of the borrower works each week by 40.

“(vi) Total amount of loans—The Administrator may provide not more than a total of $7,500,000,000 of financing under this subparagraph for each fiscal year.”

changed Of the unobligated balances of amounts appropriated for salaries and expenses by section 1107(a)(2) of the CARES Act, Act (Public Law 116–136), $25,000,000 shall be made available to carry out the requirements of section 1111 of such Act.

There is appropriated, out of amounts in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2020, to remain available until September 30, 2021—

“(c) Health emergency authority—With respect to a public health emergency declaration by the Secretary of Health and Human Services under section 319 of the Public Health Service Act, or preparations for such a health emergency, the Secretary of Health and Human Services and the Administrator of the Federal Emergency Management Agency are authorized to carry out the authorities provided under this section to the same extent as the President.”

“(a) Participation and inclusion

“(1) In general—In providing any assistance under this Act, the President shall accord a strong preference for subcontractors and suppliers that are—

“(A) small business concerns; or

“(B) businesses of any size owned by women, minorities, veterans, and the disabled.

“(2) Special consideration—To the maximum extent practicable, the President shall accord the preference described under paragraph (1) to small business concerns and businesses described in paragraph (1)(B) that are located in areas of high unemployment or areas that have demonstrated a continuing pattern of economic decline, as identified by the Secretary of Labor.”

“(c) Minority defined—In this section, the term minority—

“(1) has the meaning given the term in section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; and

“(2) includes any indigenous person in the United States, including any territories of the United States.”

“(3) authorities under this Act should be used when appropriate to ensure the availability of medical materials essential to national defense, including through measures designed to secure the drug supply chain, and taking into consideration the importance of United States competitiveness, scientific leadership and cooperation, and innovative capacity;”

“109. Strategy on securing supply chains for medical materials

“(a) In general—Not later than 180 days after the date of the enactment of this section, the President, in consultation with the Secretary of Health and Human Services, the Secretary of Commerce, the Secretary of Homeland Security, and the Secretary of Defense, shall transmit a strategy to the appropriate Members of Congress that includes the following:

“(1) A detailed plan to use the authorities under this title and title III, or any other provision of law, to ensure the supply of medical materials (including drugs to diagnose, cure, mitigate, treat, or prevent disease) essential to national defense, to the extent necessary for the purposes of this Act.

“(2) An analysis of vulnerabilities to existing supply chains for such medical articles, and recommendations to address the vulnerabilities.

changed “(3) Measures to be undertaken by the President to diversify such supply chains, as appropriate and as required for national defense; anddefense.

“(4) A discussion of—

“(A) any significant effects resulting from the plan and measures described in this subsection on the production, cost, or distribution of vaccines or any other drugs (as defined under section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321));

“(B) a timeline to ensure that essential components of the supply chain for medical materials are not under the exclusive control of a foreign government in a manner that the President determines could threaten the national defense of the United States; and

“(C) efforts to mitigate any risks resulting from the plan and measures described in this subsection to United States competitiveness, scientific leadership, and innovative capacity, including efforts to cooperate and proactively engage with United States allies.

“(b) Progress report—Following submission of the strategy under subsection (a), the President shall submit to the appropriate Members of Congress an annual progress report evaluating the implementation of the strategy, and may include updates to the strategy as appropriate. The strategy and progress reports shall be submitted in unclassified form but may contain a classified annex.

“(c) Appropriate members of congress—The term appropriate Members of Congress means the Speaker, majority leader, and minority leader of the House of Representatives, the majority leader and minority leader of the Senate, the Chairman and Ranking Member of the Committees on Armed Services and Financial Services of the House of Representatives, and the Chairman and Ranking Member of the Committees on Armed Services and Banking, Housing, and Urban Affairs of the Senate.”

“4024. Temporary moratorium on eviction filings

“(a) Congressional findings—The Congress finds that—

“(1) according to the 2018 American Community Survey, 36 percent of households in the United States—more than 43 million households—are renters;

“(2) in 2019 alone, renters in the United States paid $512 billion in rent;

“(3) according to the Joint Center for Housing Studies of Harvard University, 20.8 million renters in the United States spent more than 30 percent of their incomes on housing in 2018 and 10.9 million renters spent more than 50 percent of their incomes on housing in the same year;

“(4) according to data from the Department of Labor, more than 30 million people have filed for unemployment since the COVID-19 pandemic began;

“(5) the impacts of the spread of COVID-19, which is now considered a global pandemic, are expected to negatively impact the incomes of potentially millions of renter households, making it difficult for them to pay their rent on time; and

“(6) evictions in the current environment would increase homelessness and housing instability which would be counterproductive towards the public health goals of keeping individuals in their homes to the greatest extent possible.

“(b) Moratorium—During the period beginning on the date of the enactment of this Act and ending 12 months after such date of enactment, the lessor of a covered dwelling located in such State may not make, or cause to be made, any filing with the court of jurisdiction to initiate a legal action to recover possession of the covered dwelling from the tenant for nonpayment of rent or other fees or charges.

“(c) Definitions—For purposes of this section, the following definitions shall apply:

“(1) Covered dwelling—The term “covered dwelling” means a dwelling that is occupied by a tenant—

“(A) pursuant to a residential lease; or

“(B) without a lease or with a lease terminable at will under State law.

“(2) Dwelling—The term “dwelling” has the meaning given such term in section 802 of the Fair Housing Act (42 U.S.C. 3602) and includes houses and dwellings described in section 803(b) of such Act (42 U.S.C. 3603(b)).

“(d) Notice to vacate after moratorium expiration date—After the expiration of the period described in subsection (b), the lessor of a covered dwelling may not require the tenant to vacate the covered dwelling by reason of nonpayment of rent or other fees or charges before the expiration of the 30-day period that begins upon the provision by the lessor to the tenant, after the expiration of the period described in subsection (b), of a notice to vacate the covered dwelling.”

“(2) Covered mortgage loan—The term covered mortgage loan means any credit transaction that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a 1- to 4-unit dwelling or on residential real property that includes a 1- to 4-unit dwelling, except that it shall not include a credit transaction under an open end credit plan other than a reverse mortgage.”

“(3) Covered period—With respect to a loan, the term covered period means the period beginning on the date of enactment of this Act and ending 12 months after such date of enactment.”

“(9) Automatic forbearance for delinquent borrowers

“(A) In general—Notwithstanding any other law governing forbearance relief—

“(i) any borrower whose covered mortgage loan became 60 days delinquent between March 13, 2020, and the date of enactment of this paragraph, and who has not already received a forbearance under subsection (b), shall automatically be granted a 60-day forbearance that begins on the date of enactment of this paragraph, provided that a borrower shall not be considered delinquent for purposes of this paragraph while making timely payments or otherwise performing under a trial modification or other loss mitigation agreement; and

“(ii) any borrower whose covered mortgage loan becomes 60 days delinquent between the date of enactment of this paragraph and the end of the covered period, and who has not already received a forbearance under subsection (b), shall automatically be granted a 60-day forbearance that begins on the 60th day of delinquency, provided that a borrower shall not be considered delinquent for purposes of this paragraph while making timely payments or otherwise performing under a trial modification or other loss mitigation agreement.

“(B) Initial extension—An automatic forbearance provided under subparagraph (A) shall be extended for up to an additional 120 days upon the borrower’s request, oral or written, submitted to the borrower’s servicer affirming that the borrower is experiencing a financial hardship that prevents the borrower from making timely payments on the covered mortgage loan due, directly or indirectly, to the COVID–19 emergency.

“(C) Subsequent extension—A forbearance extended under subparagraph (B) shall be extended for up to an additional 180 days, up to a maximum of 360 days (including the period of automatic forbearance), upon the borrower’s request, oral or written, submitted to the borrower’s servicer affirming that the borrower is experiencing a financial hardship that prevents the borrower from making timely payments on the covered mortgage loan due, directly or indirectly, to the COVID–19 emergency.

“(D) Right to elect to continue making payments—With respect to a forbearance provided under this paragraph, the borrower of such loan may elect to continue making regular payments on the loan. A borrower who makes such election shall be offered a loss mitigation option pursuant to subsection (d) within 30 days of resuming regular payments to address any payment deficiency during the forbearance.

“(E) Right to shorten forbearance—At a borrower’s request, any period of forbearance provided under this paragraph may be shortened. A borrower who makes such a request shall be offered a loss mitigation option pursuant to subsection (d) within 30 days of resuming regular payments to address any payment deficiency during the forbearance.

“(10) Automatic forbearance for certain reverse mortgage loans

“(A) In general—When any covered mortgage loan which is also a federally-insured reverse mortgage loan, during the covered period, is due and payable due to the death of the last borrower or end of a deferral period or eligible to be called due and payable due to a property charge default, or if the borrower defaults on a property charge repayment plan, or if the borrower defaults for failure to complete property repairs, or if an obligation of the borrower under the Security Instrument is not performed, the mortgagee automatically shall be granted a six-month extension of—

“(i) the mortgagee’s deadline to request due and payable status from the Department of Housing and Urban Development;

“(ii) the mortgage’s deadline to send notification to the mortgagor or his or her heirs that the loan is due and payable;

“(iii) the deadline to initiate foreclosure;

“(iv) any reasonable diligence period related to foreclosure or the Mortgagee Optional Election;

“(v) if applicable, the deadline to obtain the due and payable appraisal; and

“(vi) any claim submission deadline, including the 6-month acquired property marketing period.

“(B) Forbearance period—The mortgagee shall not request due and payable status from the Secretary of Housing and Urban Development nor initiate foreclosure during this six-month period described under subparagraph (A), which shall be considered a forbearance period.

“(C) Extension—A forbearance provided under subparagraph (B) and related deadline extension authorized under subparagraph (A) shall be extended for an additional 180 days upon—

“(i) the borrower’s request, oral or written, submitted to the borrower’s servicer affirming that the borrower is experiencing a financial hardship that prevents the borrower from making payments on property charges, completing property repairs, or performing an obligation of the borrower under the Security Instrument due, directly or indirectly, to the COVID–19 emergency;

“(ii) a non-borrowing spouse’s request, oral or written, submitted to the servicer affirming that the non-borrowing spouse has been unable to satisfy all criteria for the Mortgagee Optional Election program due, directly or indirectly, to the COVID-19 emergency, or to perform all actions necessary to become an eligible non-borrowing spouse following the death of all borrowers; or

“(iii) a successor-in-interest of the borrower’s request, oral or written, submitted to the servicer affirming the heir’s difficulty satisfying the reverse mortgage loan due, directly or indirectly, to the COVID-19 emergency.

“(D) Curtailment of debenture interest—Where any covered mortgage loan which is also a federally insured reverse mortgage loan is in default during the covered period and subject to a prior event which provides for curtailment of debenture interest in connection with a claim for insurance benefits, the curtailment of debenture interest shall be suspended during any forbearance period provided herein.”

“(3) Repossession moratorium—In the case of personal property, including any recreational or motor vehicle, used as a dwelling, no person may use any judicial or non-judicial procedure to repossess or otherwise take possession of such property for six months after date of enactment of this paragraph.”

“(1) In general—During the covered period, a borrower with a covered mortgage loan who has not obtained automatic forbearance pursuant to this section and who is experiencing a financial hardship that prevents the borrower from making timely payments on the covered mortgage loan due, directly or indirectly, to the COVID–19 emergency may request forbearance on the loan, regardless of delinquency status, by—

“(A) submitting a request, orally or in writing, to the servicer of the loan; and

“(B) affirming that the borrower is experiencing a financial hardship that prevents the borrower from making timely payments on the covered mortgage loan due, directly or indirectly, to the COVID–19 emergency.

“(2) Duration of forbearance

“(A) In general—Upon a request by a borrower to a servicer for forbearance under paragraph (1), such forbearance shall be granted by the servicer for the period requested by the borrower, up to an initial length of 180 days, the length of which shall be extended by the servicer, at the request of the borrower for the period or periods requested, for a total forbearance period of up to 12-months.

“(B) Minimum forbearance amounts—For purposes of granting a forbearance under this paragraph, a servicer may grant an initial forbearance with a term of not less than 90 days, provided that it is automatically extended for an additional 90 days unless the servicer confirms the borrower does not want to renew the forbearance or that the borrower is no longer experiencing a financial hardship that prevents the borrower from making timely mortgage payments due, directly or indirectly, to the COVID–19 emergency.

“(C) Right to shorten forbearance—At a borrower’s request, any period of forbearance described under this paragraph may be shortened. A borrower who makes such a request shall be offered a loss mitigation option pursuant to subsection (d) within 30 days of resuming regular payments to address any payment deficiency during the forbearance.

“(3) Accrual of interest or fees—A servicer shall not charge a borrower any fees, penalties, or interest (beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract) in connection with a forbearance, provided that a servicer may offer the borrower a modification option at the end of a forbearance period granted hereunder that includes the capitalization of past due principal and interest and escrow payments as long as the borrower’s principal and interest payment under such modification remains at or below the contractual principal and interest payments owed under the terms of the mortgage contract before such forbearance period except as the result of a change in the index of an adjustable rate mortgage.

“(4) Communication with servicers—Any communication between a borrower and a servicer described under this section may be made in writing or orally, at the borrower’s choice.

“(5) Communication with borrowers with a disability—Upon request from a borrower, servicers shall communicate with borrowers who have a disability in the borrower's preferred method of communication. For purposes of this paragraph, the term “disability” has the meaning given that term in the Fair Housing Act, the Americans with Disabilities Act of 1990, or the Rehabilitation Act of 1973.”

“(1) No documentation required—A servicer of a covered mortgage loan shall not require any documentation with respect to a forbearance under this section other than the borrower’s affirmation (oral or written) to a financial hardship that prevents the borrower from making timely payments on the covered mortgage loan due, directly or indirectly, to the COVID–19 emergency. An oral request for forbearance and oral affirmation of hardship by the borrower shall be sufficient for the borrower to obtain or extend a forbearance.”

“(4) Forbearance terms notice—Within 30 days of a servicer of a covered mortgage loan providing forbearance to a borrower under subsection (b) or paragraph (9) or (10), or 10 days if the forbearance is for a term of less than 60 days, but only where the forbearance was provided in response to a borrower’s request for forbearance or when an automatic forbearance was initially provided under paragraph (9) or (10), and not when an existing forbearance is automatically extended, the servicer shall provide the borrower with a notice in accordance with the terms in paragraph (5).

“(5) Contents of notice—The written notice required under paragraph (4) shall state in plain language—

“(A) the specific terms of the forbearance;

“(B) the beginning and ending dates of the forbearance;

“(C) that the borrower is eligible for up to 12 months of forbearance;

“(D) that the borrower may request an extension of the forbearance unless the borrower will have reached the maximum period at the end of the forbearance;

“(E) that the borrower may request that the initial or extended period be shortened at any time;

“(F) that the borrower should contact the servicer before the end of the forbearance period;

“(G) a description of the loss mitigation options that may be available to the borrower at the end of the forbearance period based on the borrower’s specific loan;

“(H) information on how to find a housing counseling agency approved by the Department of Housing and Urban Development;

“(I) in the case of a forbearance provided pursuant to paragraph (9) or (10), that the forbearance was automatically provided and how to contact the servicer to make arrangements for further assistance, including any renewal; and

“(J) where applicable, that the forbearance is subject to an automatic extension including the terms of any such automatic extensions and when any further extension would require a borrower request.

“(6) Treatment of escrow accounts—During any forbearance provided under this section, a servicer shall pay or advance funds to make disbursements in a timely manner from any escrow account established on the covered mortgage loan.

“(7) Notification for borrowers—During the period that begins 90 days after the date of the enactment of this paragraph and ends at the end of the covered period, each servicer of a covered mortgage loan shall be required to—

“(A) make available in a clear and conspicuous manner on their webpage accurate information, in English and Spanish, for borrowers regarding the availability of forbearance as provided under subsection (b); and

“(B) notify every borrower whose payments on a covered mortgage loan are delinquent in any oral communication with or to the borrower that the borrower may be eligible to request forbearance as provided under subsection (b), except that such notice shall not be required if the borrower already has requested forbearance under subsection (b).

“(8) Certain treatment under RESPA—As long as a borrower’s payment on a covered mortgage loan was not more than 30 days delinquent on March 13, 2020, a servicer may not deem the borrower as delinquent while a forbearance granted under subsection (b) is in effect for purposes of the application of sections 6 and 10 of the Real Estate Settlement Procedures Act and any applicable regulations.”

“(d) Post-forbearance loss mitigation

“(1) Notice of availability of additional forbearance—With respect to any covered mortgage loan as to which forbearance under this section has been granted and not otherwise extended, including by automatic extension, a servicer shall, no later than 30 days before the end of the forbearance period, in writing, notify the borrower that additional forbearance may be available and how to request such forbearance, except that no such notice is required where the borrower already has requested an extension of the forbearance period, is subject to automatic extension pursuant to subsection (b)(2)(B), or no additional forbearance is available.

“(2) Loss mitigation offer before expiration of forbearance—No later than 30 days before the end of any forbearance period that has not been extended or 30 days after a request by a consumer to terminate the forbearance, which time shall be before the servicer initiates or engages in any foreclosure activity listed in subsection (c)(2), including incurring or charging to a borrower any fees or corporate advances related to a foreclosure, the servicer shall, in writing—

“(A) offer the borrower a loss mitigation option, without the charging of any fees or penalties other than interest, such that the borrower’s principal and interest payment remains the same as it was prior to the forbearance, subject to any adjustment of the index pursuant to the terms of an adjustable rate mortgage, and that either—

“(i) defers the payment of total arrearages, including any escrow advances, to the end of the existing term of the loan, without the charging or collection of any additional interest on the deferred amounts; or

“(ii) extends the term of the mortgage loan, and capitalizes, defers, or forgives all escrow advances and other arrearages;

“(B) concurrent with the loss mitigation offer in subparagraph (A), notify the borrower that the borrower has the right to be evaluated for other loss mitigation options if the borrower is not able to make the payment under the option offered in subparagraph (A).

“(3) Evaluation for loss mitigation prior to foreclosure initiation—Before a servicer may initiate or engage in any foreclosure activity listed in subsection (c)(2), including incurring or charging to a borrower any fees or corporate advances related to a foreclosure on the basis that the borrower has failed to perform under the loss mitigation offer in paragraph (2)(A) within the first 90 days after the option is offered, including a failure to accept the loss mitigation offer in paragraph (2)(A), the servicer shall—

“(A) unless the borrower has already submitted a complete application that the servicer is reviewing—

“(i) notify the borrower in writing of the documents and information, if any, needed by the servicer to enable the servicer to consider the borrower for all available loss mitigation options;

“(ii) exercise reasonable diligence to obtain the documents and information needed to complete the borrower’s loss mitigation application;

“(B) upon receipt of a complete application or if, despite the servicer’s exercise of reasonable diligence, the loss mitigation application remains incomplete sixty days after the notice in paragraph (2)(A) is sent, conduct an evaluation of the complete or incomplete loss mitigation application without reference to whether the borrower has previously submitted a complete loss mitigation application and offer the borrower all available loss mitigation options for which the borrower qualifies under applicable investor guidelines, including guidelines regarding required documentation.

“(4) Effect on future requests for loss mitigation review—An application, offer, or evaluation for loss mitigation under this section shall not be the basis for the denial of a borrower’s application as duplicative or for a reduction in the borrower’s appeal rights under Regulation X (12 C.F.R. 1024) in regard to any loss mitigation application submitted after the servicer has complied with the requirements of paragraphs (2) and (3).

“(5) Safe harbor—Any loss mitigation option authorized by the Federal National Mortgage Association, the Federal Home Loan Corporation, or the Federal Housing Administration that either—

“(A) defers the payment of total arrearages, including any escrow advances, to the end of the existing term of the loan, without the charging or collection of any additional interest on the deferred amounts, or

“(B) extends the term of the mortgage loan, and capitalizes, defers, or forgives all escrow advances and other arrearages, without the charging of any fees or penalties beyond interest on any amount capitalized into the loan principal,

“(6) Home retention options for certain reverse mortgage loans

“(A) In general—For a covered mortgage loan which is also a federally-insured reverse mortgage loan, a servicer’s conduct shall be deemed to comply with this section provided that if the loan is eligible to be called due and payable due to a property charge default, the mortgagee shall, as a precondition to sending a due and payable request to the Secretary or initiating or continuing a foreclosure process—

“(i) make a good faith effort to communicate with the borrower regarding available home retention options to cure the property charge default, including encouraging the borrower to apply for home retention options; and

“(ii) consider the borrower for all available home retention options as allowed by the Secretary.

“(B) Permissible repayment plans—The Secretary shall amend its allowable home retention options to permit a repayment plan of up to 120 months in length, and to permit a repayment plan without regard to prior defaults on repayment plans.

“(C) Limitation on interest curtailment—The Secretary may not curtail interest paid to mortgagees who engage in loss mitigation or home retention actions through interest curtailment during such loss mitigation or home retention review or during the period when a loss mitigation or home retention plan is in effect and ending 90 days after any such plan terminates.”

“505.

“(a) Moratorium—

“(1) In determining a borrower’s eligibility for relief, the Secretary shall make all eligibility decisions based on the borrower’s household’s income, expenses, and circumstances.

“(2) During any”

“(b) Loan Modification—(1) Notwithstanding any other provision of this title, for any loan made under section 502 or 504, the Secretary may modify the interest rate and extend the term of such loan for up to 30 years from the date of such modification.

“(2) At the end of any moratorium period granted under this section or under the COVID–19 HERO Act, the Secretary shall determine whether the borrower can reasonably resume making principal and interest payments after the Secretary modifies the borrower’s loan obligations in accordance with paragraph (1).”

“(B) provide the forbearance for up to the end of the period described under section 4024(b).”

“(f) Treatment after forbearance—With respect to a multifamily mortgage loan provided a forbearance under this section, the servicer of such loan—

“(1) shall provide the borrower with a 12-month period beginning at the end of such forbearance to become current on the payments under such loan;

“(2) may not charge any late fees, penalties, or other charges with respect to payments on the loan that were due during the forbearance period, if such payments are made before the end of the 12-month period; and

“(3) may not report any adverse information to a credit rating agency (as defined under section 603 of the Fair Credit Reporting Act with respect to any payments on the loan that were due during the forbearance period, if such payments are made before the end of the 12-month period.).”

“(5) Covered period—With respect to a loan, the term covered period has the meaning given that term under section 4022(a)(3).”

“(11) payments made under Federal law relating to the national emergency declared by the President under the National Emergencies Act (50 U.S.C. 1601 et seq.) with respect to the coronavirus disease 2019 (COVID–19).”

“(d) A person may not be denied any forbearance, assistance, or loan modification relief made available to borrowers by a mortgage creditor or servicer because the person is or has been a debtor, or has received a discharge, in a case under this title.”

“(r) Notwithstanding any other provision of applicable nonbankruptcy law, a debtor in any State may exempt from property of the estate the property described in subsection (d)(1) not to exceed the value in subsection (d)(1) if the exemption for such property permitted by applicable nonbankruptcy law is lower than that amount.”

“(i) A debtor shall not be denied a discharge under this section because, as of the date of discharge, the debtor did not make 6 or fewer payments directly to the holder of a debt secured by real property.

“(j) Notwithstanding subsections (a) and (b), upon the debtor’s request, the court shall grant a discharge of all debts provided for in the plan that are dischargeable under subsection (a) if the debtor—

“(1) has made payments under a confirmed plan for at least 1 year; and

“(2) is experiencing or has experienced a material financial hardship due, directly or indirectly, to the coronavirus disease 2019 (COVID–19) pandemic.”

“1331. Special provisions related to COVID–19 pandemic

“(a) Notwithstanding subsections (b)(2) and (d) of section 1322, if the debtor is experiencing or has experienced a material financial hardship due, directly or indirectly, to the coronavirus disease 2019 (COVID–19) pandemic, a plan may provide for the curing of any default within a reasonable time, not to exceed 7 years after the time that the first payment under the original confirmed plan was due, and maintenance of payments while the case is pending on any unsecured claim or secured claim on which the last payment is due after the expiration of such time. Any such plan provision shall not affect the applicable commitment period under section 1325(b).

“(b) For purposes of sections 1328(a) and 1328(b), any cure or maintenance payments under subsection (a) that are made after the end of the period during which the plan provides for payments (other than payments under subsection (a)) shall not be treated as payments under the plan.

“(c) Notwithstanding section 1329(c), a plan modified under section 1329 at the debtor’s request may provide for cure or maintenance payments under subsection (a) over a period that is not longer than 7 years after the time that the first payment under the original confirmed plan was due.

“(d) Notwithstanding section 362(c)(2), during the period after the debtor receives a discharge and the period during which the plan provides for the cure of any default and maintenance of payments under the plan, section 362(a) shall apply to the holder of a claim for which a default is cured and payments are maintained under subsection (a) and to any property securing such claim.

“(e) Notwithstanding section 1301(a)(2), the stay of section 1301(a) terminates upon the granting of a discharge under section 1328 with respect to all creditors other than the holder of a claim for which a default is cured and payments are maintained under subsection (a).”

“(i) Liquidity for mortgage servicers

“(1) In general—Subject to paragraph (2), the Secretary shall ensure that servicers of covered mortgage loans (as defined under section 4022) and multifamily mortgage loans (as defined under section 4023) are provided the opportunity to participate in the loans, loan guarantees, or other investments made by the Secretary under this section. The Secretary shall ensure that servicers are provided with access to such opportunities under equitable terms and conditions regardless of their size.

“(2) Mortgage servicer eligibility—In order to receive assistance under subsection (b)(4), a mortgage servicer shall—

“(A) demonstrate that the mortgage servicer has established policies and procedures to use such funds only to replace funds used for borrower assistance, including to advance funds as a result of forbearance or other loss mitigation provided to borrowers;

“(B) demonstrate that the mortgage servicer has established policies and procedures to provide forbearance, post-forbearance loss mitigation, and other assistance to borrowers in compliance with the terms of section 4022 or 4023, as applicable;

“(C) demonstrate that the mortgage servicer has established policies and procedures to ensure that forbearance and post-forbearance assistance is available to all borrowers in a non-discriminatory fashion and in compliance with the Fair Housing Act, the Equal Credit Opportunity Act, and other applicable fair housing and fair lending laws; and

“(D) comply with the limitations on compensation set forth in section 4004.

“(3) Mortgage servicer requirements—A mortgage servicer receiving assistance under subsection (b)(4) may not, while the servicer is under any obligation to repay funds provided or guaranteed under this section—

“(A) pay dividends with respect to the common stock of the mortgage servicer or purchase an equity security of the mortgage servicer or any parent company of the mortgage servicer if the security is listed on a national securities exchange, except to the extent required under a contractual obligation that is in effect on the date of enactment of this subsection; or

“(B) prepay any debt obligation.”

“4021. Reporting of information during major disasters

changed “(a) Purpose—The purpose of this Act, section, and the amendments made by this Act, section, is to protect consumers' credit from negative impacts as a result of financial hardship due to the coronavirus disease (COVID–19) outbreak and future major disasters.

“(b) Reporting of information during major disasters

“(1) In general—The Fair Credit Reporting Act is amended by inserting after section 605B the following:

“(2) Technical and conforming amendment—The table of contents for the Fair Credit Reporting Act is amended by inserting after the item relating to section 605B the following:

“4021A. Limitations on new credit scoring models during the COVID–19 emergency and major disasters

“The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended—

“(1) by adding at the end the following:

“(2) in the table of contents for such Act, by adding at the end the following new item:”

“(h) COVID–19 national emergency private education loan repayment assistance

“(1) Authority

changed “(A) In general—Effective on the date of the enactment of this section, until the end of September 30, 2021, the Secretary of the Treasury shall, for each borrower of a private education loan, pay the total amount due for such month on the loan, based on the payment plan selected by the borrower or the borrower’s loan status.

“(B) Limitation on payments—The maximum amount of aggregate payments that the Secretary of the Treasury may make under subparagraph (A) with respect to an individual borrower is $10,000.

changed “(2) No capitalization of interest—With respect to any loan in repayment until the end of September 30, 2021, interest due on a private education loan during such period shall not be capitalized at any time until the end of after September 30, 2021.

changed “(3) Reporting to consumer reporting agencies—Until the end of the September 30, 2021—

“(A) during the period in which the Secretary of the Treasury is making payments on a loan under paragraph (1), the Secretary shall ensure that, for the purpose of reporting information about the loan to a consumer reporting agency, any payment made by the Secretary is treated as if it were a regularly scheduled payment made by a borrower; and

“(B) no adverse credit information may be furnished to a consumer reporting agency for any private education loan.

changed “(4) Notice of payments and program—Not later than 15 days following the date of enactment of this subsection, and monthly thereafter until the end of September 30, 2021, the Secretary of the Treasury shall provide a notice to all borrowers of private education loans—

“(A) informing borrowers of the actions taken under this subsection;

“(B) providing borrowers with an easily accessible method to opt out of the benefits provided under this subsection; and

changed “(C) notifying the borrower that the program under this subsection is a temporary program and will end at the end of on September 30, 2021.

changed “(5) Suspension of involuntary collection—Until the end of September 30, 2021, the holder of a private education loan shall immediately take action to halt all involuntary collection related to the loan.

“(6) Mandatory forbearance—During the period in which the Secretary of the Treasury is making payments on a loan under paragraph (1), the servicer of such loan shall grant the borrower forbearance as follows:

“(A) A temporary cessation of all payments on the loan other than the payments of interest and principal on the loan that are made under paragraph (1).

“(B) For borrowers who are delinquent but who are not yet in default before the date on which the Secretary begins making payments under paragraph (1), the retroactive application of forbearance to address any delinquency.

changed “(7) Data to implement—Holders and servicers of private education loans shall report, to the satisfaction of the Secretary of the Treasury, the information necessary to calculate the amount to be paid under this subsection.”subsection.

added “(8) Application only to economically distressed borrowers

added “(A) In general—This subsection shall only apply to a borrower of a private education loan who is an economically distressed borrower.

added “(B) Economically distressed borrower defined—In this paragraph, the term “economically distressed borrower” means a borrower of a private education loan who, as of March 12, 2020—

added “(i) based on financial state or other conditions, would be otherwise eligible, if the borrower instead had a Federal student loan, of having a monthly payment due on such loan of $0 pursuant to an income-contingent repayment plan under section 455(d)(1)(D) of the Higher Education Act of 1965 (20 U.S.C. 1087e(d)(1)(D)) or an income-based repayment plan under section 493C of such Act (20 U.S.C. 1098e);

added “(ii) was in default on such loan;

added “(iii) had a payment due on such loan that was at least 90 days past due; or

added “(iv) based on financial state or other conditions, was in forbearance or deferment.

added “(C) Rulemaking—Not later than 7 days after the date of enactment of this paragraph, the Director of the Bureau, in consultation with the Secretary of Education, shall issue rules to implement this paragraph, including providing a detailed description of how a borrower of a private education loan will be considered an economically distressed borrower as defined under each clause of subparagraph (B).”

“(I) In general—The Board of Governors of the Federal Reserve System shall”

“(II) Requirements—In carrying out subclause (I), the Board of Governors of the Federal Reserve System—

changed “(aa) shall make non-profit organizations and institutions of higher education (as such term is defined in section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a)) eligible for any program or facility established under such subclause;

changed “(bb) shall create a low-cost loan option tailored to the unique needs of non-profit organizations, including the ability to defer payments without capitalization of interest and, solely for non-profit organizations that are ineligible to receive a covered loan under section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) and that predominantly serve low-income communities, as determined by the Federal Reserve, have the loans forgiven by the Department of the Treasury for a similar purpose to maintain payroll and operations provided under the Paycheck Protection Program, notwithstanding section 4003(d)(3) of the CARES Act;”Act;

added “(cc) shall make any 501(c)(4) organization (as defined in section 501(c)(4) of the Internal Revenue Code of 1986) eligible for any facility provided that such 501(c)(4) organization has not made and will not make a contribution, expenditure, independent expenditure, or electioneering communication within the meaning of the Federal Election Campaign Act, and has not undertaken and will not undertake similar campaign finance activities in state and local elections, during the election cycle which ends on the date of the general election in this calendar year;”

changed “(cc) shall provide at least one low-cost loan option that small businesses businesses, small non-profits, and small non-profits institutions of higher education (as such term is defined in section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a)) are eligible for that does not have a minimum loan size;”size and includes the ability to defer payments, without capitalization of interest, and, solely for small nonprofit organizations that predominantly serve low-income communities, as determined by the Federal Reserve, have the loans forgiven by the Department of the Treasury for a similar purpose to maintain payroll and operations provided under the Paycheck Protection Program, notwithstanding section 4003(d)(3) of the CARES Act.”

“(A) any”

“(B) any bank described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act—

“(i) more than 50 percent of the outstanding shares of which are held by 1 or more women; and

“(ii) the majority of the directors on the board of directors of which are women.”

“(3) Depository institution—The term depository institution means an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) and an insured credit union (as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)).”

“(d) Federal deposits—The Secretary of the Treasury shall ensure that deposits made by Federal agencies in minority depository institutions and impact banks are collateralized or insured, as determined by the Secretary. Such deposits shall include reciprocal deposits, as defined under section 29(i)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)(2)).”

“(4) Impact bank—The term impact bank means a depository institution designated by an appropriate Federal banking agency pursuant to subsection (e) of the Ensuring Diversity in Community Banking Act of 2020.”

“1204. Expansion of use of minority banks and minority credit unions

“(a) Minority Bank Deposit Program

“(1) Establishment—There is established a program to be known as the “Minority Bank Deposit Program” to expand the use of minority banks and minority credit unions.

“(2) Administration—The Secretary of the Treasury, acting through the Fiscal Service, shall—

“(A) on application by a depository institution or credit union, certify whether such depository institution or credit union is a minority bank or minority credit union;

“(B) maintain and publish a list of all depository institutions and credit unions that have been certified pursuant to subparagraph (A); and

“(C) periodically distribute the list described in subparagraph (B) to—

“(i) all Federal departments and agencies;

“(ii) interested State and local governments; and

“(iii) interested private sector companies.

“(3) Inclusion of certain entities on list—A depository institution or credit union that, on the date of the enactment of this section, has a current certification from the Secretary of the Treasury stating that such depository institution or credit union is a minority bank or minority credit union shall be included on the list described under paragraph (2)(B).

“(b) Expanded Use Among Federal Departments and Agencies

“(1) In general—Not later than 1 year after the establishment of the program described in subsection (a), the head of each Federal department or agency shall develop and implement standards and procedures to ensure, to the maximum extent possible as permitted by law and consistent with principles of sound financial management, the use of minority banks and minority credit unions to hold the deposits of each such department or agency.

“(2) Report to Congress—Not later than 2 years after the establishment of the program described in subsection (a), and annually thereafter, the head of each Federal department or agency shall submit to Congress a report on the actions taken to increase the use of minority banks and minority credit unions hold the deposits of each such department or agency.

“(c) Definitions—For purposes of this section:

“(1) Credit union—The term credit union has the meaning given the term insured credit union in section 101 of the Federal Credit Union Act (12 U.S.C. 1752).

“(2) Depository institution—The term depository institution has the meaning given in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).

“(3) Minority—The term minority means any Black American, Native American, Hispanic American, or Asian American.

“(4) Minority bank—The term minority bank means a minority depository institution as defined in section 308 of this Act.

“(5) Minority credit union—The term minority credit union means any credit union for which more than 50 percent of the membership (including board members) of such credit union are minority individuals, as determined by the National Credit Union Administration pursuant to section 308 of this Act.”

“(B) “control” means the power, directly or indirectly—

“(i) to direct the management or policies of an insured depository institution; or

“(ii)

“(I) with respect to an insured depository institution, of a person to vote 25 per centum or more of any class of voting securities of such institution; or

“(II) with respect to an insured depository institution that is an impact bank (as designated pursuant to subsection (e) of the Ensuring Diversity in Community Banking Act of 2020) or a minority depository institution (as defined in section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989), of an individual to vote 30 percent or more of any class of voting securities of such an impact bank or a minority depository institution.”

“(F) applicants for deposit insurance that could also become a community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994), a minority depository institution (as defined in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989), or an impact bank (as designated pursuant to subsection (e) of the Ensuring Diversity in Community Banking Act of 2020); and”

changed “(F) Alternative eligibility for COVID–19 public health emergency—For the period beginning on the date of enactment of the HEROES The Heroes Act and ending on December 31, 2022—

“(i) subparagraph (A)(i) shall be applied by substituting “90 days” for “12 months”; and

“(ii) subparagraph (A)(ii) shall not apply.”

“(C) Clarification—Subparagraph (A)(i) shall not apply with respect to a public agency described in subparagraph (A)(iii).”