[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6312 Introduced in House (IH)]
<DOC>
116th CONGRESS
2d Session
H. R. 6312
To provide relief from COVID-19 for small business concerns, and for
other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 19, 2020
Ms. Velazquez introduced the following bill; which was referred to the
Committee on Small Business
_______________________________________________________________________
A BILL
To provide relief from COVID-19 for small business concerns, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``COVID-19 Relief
for Small Businesses Act of 2020''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Business stabilization direct loan program.
Sec. 3. Business stabilization guaranteed loan program.
Sec. 4. Economic injury grants for small business concerns.
Sec. 5. Economic injury disaster loans.
Sec. 6. Subsidy for certain loan payments.
Sec. 7. Temporary fee reductions.
Sec. 8. Guarantee amounts.
Sec. 9. Maximum loan amount and program levels for 7(a) loans.
Sec. 10. Maximum loan amount for 504 loans.
Sec. 11. Recovery assistance for microbusinesses.
Sec. 12. Additional leverage for small businesses affected by the
COVID-19 outbreak.
Sec. 13. New Markets Venture Capital Program.
Sec. 14. Grants to small business development centers, women's business
centers, and chapters of the Service Corps
of Retired Executives.
Sec. 15. Grant programs for small business development centers, women's
business centers, and chapters of the
Service Corps of Retired Executives.
Sec. 16. Waiver of matching funds requirement under the women's
business center program.
Sec. 17. State Trade Expansion Program.
Sec. 18. Contracting and entrepreneurial development assistance.
Sec. 19. Resources and services in languages other than English.
Sec. 20. Authorization of appropriations for personnel.
SEC. 2. BUSINESS STABILIZATION DIRECT LOAN PROGRAM.
(a) In General.--The Administrator of the Small Business
Administration shall carry out a program to make loans directly to
eligible borrowers.
(b) Eligible Borrower Defined.--In this section, the term
``eligible borrower'' means a person who--
(1) is a small business concern as defined under section 3
of the Small Business Act (15 U.S.C. 632); and
(2) is located in a State or territory of the United States
with a confirmed or presumed positive case of COVID-19.
(c) Use of Funds.--In addition to the use of proceeds currently
permitted under section 7(a) of the Small Business Act (15 U.S.C.
636(a)), loans made under this section may be used for the following
purposes:
(1) To make periodic payments of principal and interest,
for a period not to exceed 12 months, on a loan or a loan
guarantee made to an eligible borrower that meets the
eligibility standards of such section 7(a).
(2) To provide benefits to employees of the eligible
borrower, including group life insurance, disability insurance,
sick leave, annual leave, educational benefits, paid family
leave, or retirement benefits (including a pension plan or
IRA).
(3) To pay wages to employees of the eligible borrower, and
related State and Federal payroll taxes, except that loan
proceeds may not be used to pay amounts under a garnishment
order issued by an agency of a State or Federal Government.
(4) To provide technology, hardware, or software for a
shift to telework or remote work for employees of the eligible
borrower to enable continuity of operations.
(5) To pay rent or utilities due or owed on any place of
business of the eligible borrower.
(6) To refinance an existing debt (including interest) in
an amount not to exceed 50 percent of the amount of the debt.
(7) To provide floor plan financing or other revolving line
of credit.
(8) To pay past-due Federal, State, or local payroll taxes,
sales taxes, or other similar taxes that are required to be
collected by the eligible borrower and held in trust on behalf
of a Federal, State, or local government entity.
(9) To provide employees and patrons of the eligible
borrower with the necessary items specified by any public
health authority to mitigate the spread of COVID-19.
(d) Loan Terms.--
(1) Amount.--Loans made under this section may not exceed
$2,500,000.
(2) Disbursement.--Not less than 10 percent, but not more
than 20 percent, of the proceeds of a loan made under this
section shall be disbursed not later than 5 calendar days after
a loan is approved under this section.
(3) Term.--Loans made under this section shall be for a
term of 10 years, and a borrower shall not be required to repay
such loan during the 12-month period beginning on the date of
disbursement of the loan.
(4) Interest; fees.--The Administrator may not charge any
interest or fees for a loan made under this section.
(e) Collateral.--The Administrator shall not decline to make a loan
under this section to an otherwise eligible borrower due solely to
inadequate collateral. The Administrator shall accept any available
collateral, including subordinated liens, to secure a loan made under
this section.
(f) Forgiveness.--If an eligible borrower that receives loan
proceeds under this section demonstrates to the Administrator that the
number of employees of such eligible borrower on December 31, 2021, is
greater than or equal to the number of employees of such eligible
borrower on December 31, 2019, the Administrator shall pay to the
lender of such eligible borrower's loan not more than 50 percent of the
outstanding principal on such loan.
(g) Sunset.--
(1) In general.--Except as provided in paragraph (2), the
Administrator of the Small Business Administration may not make
a loan under this section after September 30, 2022.
(2) Extension.--The Administrator may extend authority to
make loans under this section by an additional 6 months by
notifying Congress, in writing, within 10 calendar days before
any extension.
(h) Emergency Rulemaking Authority.--
(1) In general.--Within 15 days after the date of the
enactment of this section, the Administrator of the Small
Business Administration--
(A) shall issue rules to carry out this section;
and
(B) may issue rules to establish a secondary market
for loans made under this section.
(2) Notice.--The notice requirements of section 553(b) of
title 5, United States Code shall not apply to any issuance of
rules under paragraph (1).
(i) Authorization of Appropriations.--There is authorized to be
appropriated to the Administrator of the Small Business Administration
such sums as may be necessary to pay for the cost of making
$100,000,000,000 in direct loans under this section. In the previous
sentence, the cost of direct loans shall be as defined in section 502
of the Congressional Budget Act of 1974 (2 U.S.C. 661a).
SEC. 3. BUSINESS STABILIZATION GUARANTEED LOAN PROGRAM.
(a) In General.--The Administrator of the Small Business
Administration shall carry out a program to guarantee loans to eligible
borrowers, made by banks or other lenders.
(b) Eligible Borrower Defined.--In this section, the term
``eligible borrower'' means a person who--
(1) is a small business concern as defined under section 3
of the Small Business Act (15 U.S.C. 632); and
(2) is located in a State or territory of the United States
with a confirmed or presumed positive case of COVID-19.
(c) Use of Funds.--In addition to the use of proceeds currently
permitted under section 7(a) of the Small Business Act (15 U.S.C.
636(a)), loans guaranteed under this section may be used for the
following purposes:
(1) To make periodic payments of principal and interest,
for a period not to exceed 12 months, on a loan or a loan
guarantee made to an eligible borrower that meets the
eligibility standards of such section 7(a).
(2) To provide benefits to employees of the eligible
borrower, including group life insurance, disability insurance,
sick leave, annual leave, educational benefits, paid family
leave, or retirement benefits (including a pension plan or
IRA).
(3) To pay wages to employees of the eligible borrower, and
related State and Federal payroll taxes, except that loan
proceeds may not be used to pay amounts under a garnishment
order issued by an agency of a State or Federal Government.
(4) To provide technology, hardware, or software for a
shift to telework or remote work for employees of the eligible
borrower to enable continuity of operations.
(5) To pay rent or utilities due or owed on any place of
business of the eligible borrower.
(6) To refinance an existing debt (including interest) in
an amount not to exceed 50 percent of the amount of the debt.
(7) To provide floor plan financing or other revolving line
of credit.
(8) To pay past-due Federal, State, or local payroll taxes,
sales taxes, or other similar taxes that are required to be
collected by the eligible borrower and held in trust on behalf
of a Federal, State, or local government entity.
(9) To provide employees and patrons of the eligible
borrower with the necessary items specified by any public
health authority to mitigate the spread of COVID-19.
(d) Loan Terms.--
(1) Amount.--Loans guaranteed under this section may not
exceed $2,500,000.
(2) Disbursement.--With respect to a loan guaranteed under
this section, loan amounts shall be disbursed as follows:
(A) Not less than 10 percent, but not more than 20
percent, of such amount shall be disbursed not later
than 5 calendar days after such approval.
(B) Not later than 14 calendar days after such
approval, any remaining amounts shall be disbursed.
(3) Guarantee.--Loans guaranteed under this section shall
be 100 percent guaranteed by the Administrator of the Small
Business Administration.
(4) Interest.--The Administrator and participating lenders
shall not charge interest on any loan guaranteed under this
section.
(e) Repayment.--Repayment for loans guaranteed under this section--
(1) shall be amortized over a period of time not to exceed
10 years; and
(2) may not begin until 12 months (which may be extended by
the Administrator of the Small Business Administration) after
the final disbursement of loan amounts pursuant to subsection
(d)(2).
(f) Collateral.--A lender may not decline to make a loan described
under this section to an otherwise eligible borrower due solely to
inadequate collateral. The Administrator shall not decline to honor a
guarantee on a loan made by a lender that is guaranteed under this
section solely due to inadequate collateral. Lenders shall accept any
available collateral, including subordinated liens, to secure a loan
guaranteed under this section.
(g) Fees.--Neither the Administrator of the Small Business
Administration nor any lender may charge any fees to an applicant in
connection with a loan guaranteed under this section.
(h) Forgiveness.--If an eligible borrower that receives loan
proceeds under this section demonstrates to the Administrator that the
number of employees of such eligible borrower on December 31, 2021, is
greater than or equal to the number of employees of such eligible
borrower on December 31, 2019, the Administrator shall pay to the
lender of such eligible borrower's loan not more than 50 percent of the
outstanding principal on such loan.
(i) Sunset.--
(1) In general.--Except as provided in paragraph (2), the
Administrator of the Small Business Administration may not
guarantee a loan under this section after September 30, 2022.
(2) Extension.--The Administrator may extend authority to
guarantee loans under this section by an additional 6 months by
notifying Congress, in writing, within 10 calendar days before
any extension.
(j) Emergency Rulemaking Authority.--
(1) In general.--Within 15 days after the date of the
enactment of this section, the Administrator of the Small
Business Administration--
(A) shall issue rules to carry out this section;
and
(B) may issue rules to establish a secondary market
for loans made under this section.
(2) Notice.--The notice requirements of section 553(b) of
title 5, United States Code shall not apply to any issuance of
rules under paragraph (1).
(k) Authorization of Appropriations.--There is authorized to be
appropriated $100,000,000,000 to the Administrator of the Small
Business Administration to carry out this section.
SEC. 4. ECONOMIC INJURY GRANTS FOR SMALL BUSINESS CONCERNS.
(a) Grants.--The Administrator of the Small Business Administration
shall provide grants to eligible small business concerns that have
suffered a substantial economic injury (as defined in section 7(b)(2)
of the Small Business Act (15 U.S.C. 636(b)(2)), directly or
indirectly, as a result of the public health emergency declared because
of COVID-19.
(b) Definition of Eligible Small Business Concern.--In this
section, the term ``eligible small business concern'' means a small
business concern (as defined under section 3 of the Small Business Act
(15 U.S.C. 632)) or an independent contractor.
(c) Amount of Grant.--A grant provided under this section shall be
in an amount that is not more than $100,000.
(d) Use of Funds.--An eligible small business concern that receives
a grant under this section may use the grant funds to address the
direct effects of the COVID-19 pandemic, including--
(1) providing paid sick leave to employees unable to work;
(2) maintaining payroll to retain employees during business
disruptions or substantial slowdowns;
(3) meeting increased costs to obtain materials unavailable
from the original source of the eligible small business concern
due to interrupted supply chains;
(4) making payments under a lease or mortgage loan related
to a place of operation of the small business concern;
(5) repaying obligations that cannot be met due to revenue
losses; and
(6) other expenses as deemed appropriate by the
Administrator.
(e) Application.--
(1) In general.--An eligible small business concern
desiring a grant under this section shall submit to the
Administration an application at such time, in such manner, and
containing such information as the Administration may require.
(2) Standards.--The Administrator shall establish minimum
qualifying standards to ensure that applicants adversely
impacted by the effects of COVID-19 pandemic receive funds
expeditiously under this section.
(f) Procedures.--The Administrator shall establish procedures to
verify and document compliance with the requirements under this section
in order to prevent waste, fraud, and abuse of funds awarded under this
section.
(g) Authorization of Appropriations.--There is authorized to be
appropriated $100,000,000,000 to the Administrator to carry out this
section.
(h) Emergency Rulemaking Authority.--
(1) In general.--Within 15 days after the date of the
enactment of this section, the Administrator of the Small
Business Administration shall issue rules to carry out this
section.
(2) Notice.--Notice requirements of section 553(b) of title
5, United States Code shall not apply to any issuance of rules
under paragraph (1).
(i) Report.--Not later than March 31, 2022, the Administrator of
the Small Business Administration shall submit to Congress a report
that includes--
(1) the number of grants made under this section,
disaggregated by the number of grants made--
(A) in an amount less than or equal to $20,000;
(B) in an amount greater than $20,000 but less than
or equal to $40,000;
(C) in an amount greater than $40,000 but less than
or equal to $60,000;
(D) in an amount greater than $60,000 but less than
or equal to $80,000; and
(E) in an amount greater than $80,000 but less than
or equal to $100,000;
(2) the average amount of an award;
(3) an analysis of the program established under this
section and recommendations for improvement;
(4) the average time from receipt of an application to
approval of grant under this section; and
(5) the average time from approval of grant to disbursement
of grant funds.
(j) Termination.--The authority to carry out grants under this
section shall terminate on September 30, 2021.
SEC. 5. ECONOMIC INJURY DISASTER LOANS.
(a) Terms.--With respect to a loan made under section 7(b)(2) of
the Small Business Act (15 U.S.C. 636(b)(2)) in response to COVID-19,
the Administrator of the Small Business Administration--
(1) may make such a loan to a start-up small business
concern;
(2) may waive any rules related to affiliation; and
(3) shall, with respect to such a loan made to a
cooperative, waive any requirement that the borrower of such
loan provide a personal guarantee to repay such loan.
(b) Preliminary Amounts.--
(1) In general.--An applicant for a loan under section
7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) in
response to COVID-19 may request that the Administrator provide
an advance in the amount requested by such applicant (not to
exceed $10,000) to such applicant within 3 days after the
Administrator receives an application from such applicant.
(2) Verification.--Before disbursing amounts under this
subsection, the Administrator shall verify that the applicant
is a small business concern (as defined under section 3 of such
Act (15 U.S.C. 632)).
(3) Repayment.--An applicant that is subsequently denied a
loan under such section 7(b)(2) shall not be required to repay
any amounts of an advance provided under this subsection.
(c) Approval and Ability To Repay for Small Dollar Loans.--With
respect to a loan made under section 7(b)(2) of the Small Business Act
(15 U.S.C. 636(b)(2)) in response to COVID-19 that does not exceed
$350,000, the Administrator--
(1) may approve an applicant based solely on the credit
score of the applicant and shall not require an applicant to
submit a tax return or a tax return transcript for such
approval; or
(2) use alternative appropriate methods to determine an
applicant's ability to repay.
(d) Emergencies Involving Federal Primary Responsibility Qualifying
for Small Business Administration Assistance.--Section 7(b)(2) of the
Small Business Act (15 U.S.C. 636(b)(2)) is amended--
(1) in subparagraph (A), by striking ``or'' at the end;
(2) in subparagraph (B), by striking ``or'' at the end;
(3) in subparagraph (C), by striking ``or'' at the end;
(4) by redesignating subparagraph (D) as subparagraph (E);
(5) by inserting after subparagraph (C) the following:
``(D) an emergency involving Federal primary
responsibility determined to exist by the President
under the section 501(b) of the Robert T. Stafford
Disaster Relief and Emergency Assistance Act (42 U.S.C.
5191(b)); or'';
(6) in subparagraph (E), as so redesignated--
(A) by striking ``or (C)'' and inserting ``(C), or
(D)'';
(B) by striking ``disaster declaration'' each place
it appears and inserting ``disaster or emergency
declaration'';
(C) by striking ``disaster has occurred'' and
inserting ``disaster or emergency has occurred'';
(D) by striking ``such disaster'' and inserting
``such disaster or emergency''; and
(E) by striking ``disaster stricken'' and inserting
``disaster- or emergency-stricken''; and
(7) in the flush matter following subparagraph (E) (as so
redesignated), by striking the period at the end and inserting
the following: ``: Provided further, that for purposes of
subparagraph (D), the Administrator shall deem that such an
emergency affects each State or subdivision thereof (including
counties), and that each State or subdivision has sufficient
economic damage to small business concerns to qualify for
assistance under this paragraph and the Administrator shall
accept applications for such assistance immediately.''.
(e) Credit Elsewhere Requirements.--The flush matter following
subparagraph (E) (as so redesignated) of section 7(b)(2) of the Small
Business Act (15 U.S.C. 636(b)(2)) is amended by striking ``That no
loan or guarantee'' and all that follows through ``credit elsewhere.''
and inserting the following: ``The interest rate on a loan or guarantee
made under this paragraph shall be not more than 2 percent, if the
Administrator determines the applicant is not able to obtain credit
elsewhere, or not more than 4 percent, if the Administrator determines
the applicant is able to obtain credit elsewhere.''.
(f) Eligibility.--Section 7(b)(2) of the Small Business Act is
amended by striking ``small agricultural cooperative'' and inserting
``small cooperative''.
(g) Additional Amounts.--
(1) In general.--The Administrator of the Small Business
Administration may increase by 20 percent the amount received
by an eligible small business concern under section 7(b)(2) of
the Small Business Act (15 U.S.C. 636(b)(2)) to cover
continuity-of-operations and risk mitigation improvements,
including telework capability, offsite record keeping,
redundancy, the administrative costs of establishing paid sick
leave, and presenteeism prevention.
(2) Definition.--In this section, the term ``eligible small
business concern'' means a small business concern that--
(A) meets the applicable size standard established
under section 3 of the Small Business Act (15 U.S.C.
632); and
(B) is receiving assistance under section 7(b)(2)
of the Small Business Act (15 U.S.C. 636(b)(2)) related
to COVID-19.
(h) Authorization of Appropriations.--There is authorized to be
appropriated to the Administrator to carry out the loan program under
section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2))--
(1) $177,000,000 for administration costs; and
(2) $1,000,000,000 to provide loans or other assistance.
SEC. 6. SUBSIDY FOR CERTAIN LOAN PAYMENTS.
(a) Definitions.--In this section--
(1) the terms ``Administration'' and ``Administrator'' mean
the Small Business Administration and the Administrator
thereof; and
(2) the term ``covered loan'' means a loan that is--
(A) guaranteed by the Administration under--
(i) section 7(a) of the Small Business Act
(15 U.S.C. 636(a)), including a loan made under
the Community Advantage Pilot Program of the
Administration; or
(ii) title V of the Small Business
Investment Act of 1958 (15 U.S.C. 695 et seq.);
or
(B) made by an intermediary to a small business
concern (as defined in section 3 of the Small Business
Act (15 U.S.C. 632)) using loans or grants received
under section 7(m) of the Small Business Act (15 U.S.C.
636(m)).
(b) Sense of Congress.--It is the sense of Congress that--
(1) all borrowers are adversely affected by COVID-19;
(2) relief payments by the Administration are appropriate
for all borrowers; and
(3) in addition to the relief provided under this section,
the Administration should encourage lenders to provide payment
deferments, when appropriate, and to extend the maturity of
covered loans, so as to avoid balloon payments or any
requirement for increases in debt payments resulting from
deferments provided by lenders during the period of the
national emergency declared by the President under the National
Emergencies Act (50 U.S.C. 1601 et seq.) with respect to COVID-
19.
(c) Principal and Interest Payments.--
(1) In general.--The Administrator shall pay the principal,
interest, and any associated fees that are owed on a covered
loan in a regular servicing status--
(A) with respect to a covered loan made before the
date of enactment of this section and not on deferment,
for the 6-month period beginning with the next payment
due on the covered loan;
(B) with respect to a covered loan made before the
date of enactment of this section and on deferment, for
the 6-month period beginning with the next payment due
on the covered loan after the deferment period; and
(C) with respect to a covered loan made during the
period beginning on the date of enactment of this
section and ending on the date that is 6 months after
such date of enactment, for the 6-month period
beginning with the first payment due on the covered
loan.
(2) Timing of payment.--The Administrator shall begin
making payments under paragraph (1) on a covered loan not later
than 30 days after the date on which the first such payment is
due.
(3) Application of payment.--Any payment made by the
Administrator under paragraph (1) shall be applied to the
covered loan such that the borrower is relieved of the
obligation to pay that amount.
(d) Other Requirements.--The Administrator shall--
(1) communicate and coordinate with the Federal Deposit
Insurance Corporation, the Office of the Comptroller of the
Currency, and State bank regulators to encourage those entities
to not require lenders to increase their reserves on account of
receiving payments made by the Administrator under subsection
(c);
(2) waive statutory limits on maximum loan maturities for
any covered loan durations where the lender provides a deferral
and extends the maturity of covered loans during the 1-year
period following the date of enactment of this section; and
(3) when necessary to provide more time because of the
potential of higher volumes, travel restrictions, and the
inability to access some properties during the COVID-19
pandemic, extend lender site visit requirements to--
(A) not more than 60 days (which may be extended at
the discretion of the Administration) after the
occurrence of an adverse event, other than a payment
default, causing a loan to be classified as in
liquidation; and
(B) not more than 90 days after a payment default.
(e) Rule of Construction.--Nothing in this section may be construed
to limit the authority of the Administrator to make payments pursuant
to subsection (c) with respect to a covered loan solely because the
covered loan has been sold in the secondary market.
(f) Authorization of Appropriations.--There is authorized to be
appropriated to the Administrator $16,800,000,000 to carry out this
section.
SEC. 7. TEMPORARY FEE REDUCTIONS.
(a) Purpose.--The purpose of the section is to waive borrower and
lender fees on loans, including a permanent fix to waive fees for
veterans and their spouses.
(b) Administrative Fee Waiver.--
(1) In general.--During the period beginning on the date of
enactment of this Act and ending on September 30, 2021, and to
the extent that the cost of such elimination or reduction of
fees is offset by appropriations, with respect to each loan
guaranteed under section 7(a) of the Small Business Act (15
U.S.C. 636(a)) (including a recipient of assistance under the
Community Advantage Pilot Program of the Administration) for
which an application is approved or pending approval on or
after the date of enactment of this Act, the Administrator
shall--
(A) in lieu of the fee otherwise applicable under
section 7(a)(23)(A) of the Small Business Act (15
U.S.C. 636(a)(23)(A)), collect no fee or reduce fees to
the maximum extent possible; and
(B) in lieu of the fee otherwise applicable under
section 7(a)(18)(A) of the Small Business Act (15
U.S.C. 636(a)(18)(A)), collect no fee or reduce fees to
the maximum extent possible.
(2) Application of fee eliminations or reductions.--To the
extent that amounts are made available to the Administrator for
the purpose of fee eliminations or reductions under paragraph
(1), the Administrator shall--
(A) first use any amounts provided to eliminate or
reduce fees paid by small business borrowers under
clauses (i) through (iii) of section 7(a)(18)(A) of the
Small Business Act (15 U.S.C. 636(a)(18)(A)), to the
maximum extent possible; and
(B) then use any amounts provided to eliminate or
reduce fees under 7(a)(23)(A) of the Small Business Act
(15 U.S.C. 636(a)(23)(A)).
(c) Exception To Guarantee Fee Waiver for Veterans.--Section
7(a)(31)(G) of the Small Business Act (15 U.S.C. 636(a)(31)(G)) is
amended--
(1) by striking clause (ii); and
(2) by redesignating clause (iii) as clause (ii).
(d) Temporary Fee Elimination for the 504 Loan Program.--
(1) In general.--During the period beginning on the date of
enactment of this section and ending on September 30, 2021, and
to the extent the cost of such elimination in fees is offset by
appropriations, with respect to each project or loan guaranteed
by the Administrator pursuant to title V of the Small Business
Investment Act of 1958 (15 U.S.C. 695 et seq.) for which an
application is approved or pending approval on or after the
date of enactment of this section--
(A) the Administrator shall, in lieu of the fee
otherwise applicable under section 503(d)(2) of the
Small Business Investment Act of 1958 (15 U.S.C.
697(d)(2)), collect no fee; and
(B) a development company shall, in lieu of the
processing fee under section 120.971(a)(1) of title 13,
Code of Federal Regulations (relating to fees paid by
borrowers), or any successor thereto, collect no fee.
(2) Reimbursement for waived fees.--
(A) In general.--To the extent that the cost of
such payments is offset by appropriations, the
Administrator shall reimburse each development company
that does not collect a processing fee pursuant to
paragraph (1)(B).
(B) Amount.--The payment to a development company
under subparagraph (A) shall be in an amount equal to
1.5 percent of the net debenture proceeds for which the
development company does not collect a processing fee
pursuant to paragraph (1)(B).
SEC. 8. GUARANTEE AMOUNTS.
(a) Purpose.--The purpose of this section is to increase loan
guarantee amounts in order to mitigate risk for lenders and keep credit
flowing, including an emphasis on underserved borrowers.
(b) 7(a) Loan Guarantees.--
(1) In general.--Section 7(a)(2)(A) of the Small Business
Act (15 U.S.C. 636(a)(2)(A)) is amended by striking ``), such
participation by the Administration shall be equal to'' and all
that follows through the period at the end and inserting ``or
the Community Advantage Pilot Program of the Administration),
such participation by the Administration shall be equal to 90
percent of the balance of the financing outstanding at the time
of disbursement of the loan.''.
(2) Termination.--Effective September 30, 2021, section
7(a)(2)(A) of the Small Business Act (15 U.S.C. 636(a)(2)(A)),
as amended by paragraph (1), is amended to read as follows:
``(A) In general.--Except as provided in
subparagraphs (B), (D), and (E), in an agreement to
participate in a loan on a deferred basis under this
subsection (including a loan made under the Preferred
Lenders Program), such participation by the
Administration shall be equal to--
``(i) 75 percent of the balance of the
financing outstanding at the time of
disbursement of the loan, if such balance
exceeds $150,000; or
``(ii) 85 percent of the balance of the
financing outstanding at the time of
disbursement of the loan, if such balance is
less than or equal to $150,000.''.
(c) Express Loan Guarantee Amounts and Loan Size Increases.--
(1) Temporary modification.--Section 7(a)(31) of the Small
Business Act (15 U.S.C. 636(a)(31)) is amended--
(A) in subparagraph (A)(iv), by striking ``with a
guaranty rate of not more than 50 percent.'' and
inserting the following: ``with a guarantee rate--
``(I) for a loan in an amount less
than or equal to $350,000, of not more
than 90 percent; and
``(II) for a loan in an amount
greater than $350,000, of not more than
75 percent.''; and
(B) in subparagraph (D), by striking ``$350,000''
and inserting ``$1,000,000''.
(2) Increase in availability.--Effective September 30,
2021, section 7(a)(31) of the Small Business Act (15 U.S.C.
636(a)(31)), as amended by paragraph (1), is amended--
(A) in subparagraph (A)(iv), by striking
``guarantee rate'' and all that follows through the
period at the end and inserting ``guarantee rate of not
more than 50 percent.''; and
(B) in subparagraph (D), by striking ``$1,000,000''
and inserting ``$500,000''.
SEC. 9. MAXIMUM LOAN AMOUNT AND PROGRAM LEVELS FOR 7(A) LOANS.
(a) Purpose.--The purpose of this section is to temporarily
increase the maximum loan size in order to expand the reach of this
long-term capital.
(b) Maximum Loan Amount.--During the period beginning on the date
of enactment of this section and ending on September 30, 2021, with
respect to any loan guaranteed under section 7(a) of the Small Business
Act (15 U.S.C. 636(a)) for which an application is approved or pending
approval on or after the date of enactment of this section, the maximum
loan amount shall be $10,000,000.
(c) Program Levels.--During each of fiscal years 2020 and 2021,
commitments for general business loans authorized under section 7(a) of
the Small Business Act (15 U.S.C. 636(a)) shall not exceed
$75,000,000,000.
SEC. 10. MAXIMUM LOAN AMOUNT FOR 504 LOANS.
(a) Purpose.--The purpose of this section is to make refinancing of
fixed assets more flexible for small business concerns seeking
immediate financing and relief from the COVID-19 crisis.
(b) Temporary Increase.--During the period beginning on the date of
enactment of this section and ending on September 30, 2021, with
respect to each project or loan guaranteed by the Administrator
pursuant to title V of the Small Business Investment Act of 1958 (15
U.S.C. 695 et seq.) for which an application is approved or pending
approval on or after the date of enactment of this section, the maximum
loan amount shall be $10,000,000.
(c) Permanent Increase for Small Manufacturers.--Effective on
October 1, 2021, section 502(2)(A)(iii) of the Small Business
Investment Act of 1958 (15 U.S.C. 696(2)(A)(iii)) is amended by
striking ``$5,500,000'' and inserting ``$10,000,000''.
SEC. 11. RECOVERY ASSISTANCE FOR MICROBUSINESSES.
(a) Purpose.--The purpose of this section is to allow lenders to
deploy more capital, give borrowers more time to repay, increase rural
lending, and cut technical assistance red tape.
(b) Loans to Intermediaries.--
(1) In general.--Section 7(m) of the Small Business Act (15
U.S.C. 636(m)) is amended--
(A) in paragraph (3)(C)--
(i) by striking ``and $6,000,000'' and
inserting ``$10,000,000, in the aggregate,'';
and
(ii) by inserting before the period at the
end the following: ``, and $4,500,000 in any of
those remaining years'';
(B) in paragraph (4)--
(i) in subparagraph (A), by striking
``subparagraph (C)'' each place that term
appears and inserting ``subparagraphs (C) and
(G)'';
(ii) in subparagraph (C), by amending
clause (i) to read as follows:
``(i) In general.--In addition to grants
made under subparagraph (A) or (G), each
intermediary shall be eligible to receive a
grant equal to 5 percent of the total
outstanding balance of loans made to the
intermediary under this subsection if--
``(I) the intermediary provides not
less than 25 percent of its loans to
small business concerns located in or
owned by one or more residents of an
economically distressed area; or
``(II) the intermediary has a
portfolio of loans made under this
subsection--
``(aa) that averages not
more than $10,000 during the
period of the intermediary's
participation in the program;
or
``(bb) of which not less
than 25 percent is serving
rural areas during the period
of the intermediary's
participation in the
program.''; and
(iii) by adding at the end the following:
``(G) Grant amounts based on appropriations.--In
any fiscal year in which the amount appropriated to
make grants under subparagraph (A) is sufficient to
provide to each intermediary that receives a loan under
paragraph (1)(B)(i) a grant of not less than 25 percent
of the total outstanding balance of loans made to the
intermediary under this subsection, the Administration
shall make a grant under subparagraph (A) to each
intermediary of not less than 25 percent and not more
than 30 percent of that total outstanding balance for
the intermediary.''; and
(C) by striking paragraph (7) and inserting the
following:
``(7) Program funding for microloans.--Under the program
authorized by this subsection, the Administration may fund, on
a competitive basis, not more than 300 intermediaries.''.
(2) Amendment in 2021.--Effective on October 1, 2021,
section 7(m)(3)(C) of the Small Business Act (15 U.S.C.
636(m)(3)(C)), as amended by paragraph (1)(A), is further
amended--
(A) by striking ``$10,000,000'' and by inserting
``$7,000,000''; and
(B) by striking ``$4,500,000'' and inserting
``$3,000,000''.
(c) Temporary Waiver of Technical Assistance Grants Matching
Requirements and Flexibility on Pre- and Post-Loan Assistance.--During
the period beginning on the date of enactment of this section and
ending on September 30, 2021, the Administration shall waive--
(1) the requirement to contribute non-Federal funds under
section 7(m)(4)(B) of the Small Business Act (15 U.S.C.
636(m)(4)(B)); and
(2) the limitation on amounts allowed to be expended to
provide information and technical assistance under clause (i)
of section 7(m)(4)(E) of the Small Business Act (15 U.S.C.
636(m)(4)(E)) and enter into third-party contracts to provide
technical assistance under clause (ii) of such section
7(m)(4)(E).
(d) Temporary Duration of Loans to Borrowers.--
(1) In general.--During the period beginning on the date of
enactment of this section and ending on September 30, 2021, the
duration of a loan made by an eligible intermediary under
section 7(m) of the Small Business Act (15 U.S.C. 636(m))--
(A) to an existing borrower may be extended to not
more than 8 years; and
(B) to a new borrower may be not more than 8 years.
(2) Reversion.--On and after October 1, 2021, the duration
of a loan made by an eligible intermediary to a borrower under
section 7(m) of the Small Business Act (15 U.S.C. 636(m)) shall
be 7 years or such other amount established by the
Administrator.
(e) Program Levels.--Section 20 of the Small Business Act (15
U.S.C. 631 note) is amended by adding at the end the following:
``(h) Microloan Program.--For each of fiscal years 2021 through
2025, the Administration is authorized to make--
``(1) $80,000,000 in technical assistance grants, as
provided in section 7(m); and
``(2) $110,000,000 in direct loans, as provided in section
7(m).''.
(f) Authorization of Appropriations.--In addition to amounts
provided under the Consolidated Appropriations Act, 2020 (Public Law
116-93) for the program established under section 7(m) of the Small
Business Act (15 U.S.C. 636(m)), there is authorized to be appropriated
for fiscal year 2020, to remain available until expended--
(1) $50,000,000 to provide technical assistance grants
under such section 7(m); and
(2) $7,000,000 to provide direct loans under such section
7(m).
SEC. 12. ADDITIONAL LEVERAGE FOR SMALL BUSINESSES AFFECTED BY THE
COVID-19 OUTBREAK.
(a) In General.--Section 303(b)(2) of the Small Business Investment
Act of 1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the
following:
``(E) Additional leverage base on investment.--
``(i) Exclusion of amounts.--In calculating
the outstanding leverage of a company for
purposes of subparagraph (A) or (B), the
Administrator shall exclude the amount of
leverage outstanding to covered small
businesses, not to exceed an amount equal to
$100,000,000, if the amount excluded is used
exclusively for working capital purposes.
``(ii) Covered small business defined.--In
this subparagraph, the term `covered small
business' means a small business concern is
located in a State or United States territory
with at least one confirmed or presumed
positive case of COVID-19.''.
(b) Application.--Notwithstanding any other provision of law, for
purposes of additional leverage requested under subparagraph (E) of
section 303(b)(2) of the Small Business Investment Act of 1958, as
added by subsection (a), the Administrator shall approve or deny such
request within 14 calendar days of receipt by the Administrator of the
request.
SEC. 13. NEW MARKETS VENTURE CAPITAL PROGRAM.
Section 368(a) of the Small Business Investment Act of 1958 (15
U.S.C. 689q(a)) is amended--
(1) by striking ``fiscal years 2001 through 2006'' and
inserting ``fiscal years 2020 through 2025'';
(2) in paragraph (1), by striking ``$150,000,000'' and
inserting ``$10,000,000,000''; and
(3) in paragraph (2), by striking ``$30,000,000'' and
inserting ``$2,000,000,000''.
SEC. 14. GRANTS TO SMALL BUSINESS DEVELOPMENT CENTERS, WOMEN'S BUSINESS
CENTERS, AND CHAPTERS OF THE SERVICE CORPS OF RETIRED
EXECUTIVES.
(a) In General.--The Administrator of the Small Business
Administration shall provide grants to small business development
centers, women's business centers, and chapters of the Service Corps of
Retired Executives for the purposes described in subsection (b).
(b) Use of Funds.--Grant funds under this section shall be used for
the following:
(1) To purchase laptops, software, and other related
technical or electronic equipment to ensure that employees of
small business development centers, women's business centers,
and chapters of the Service Corps of Retired Executives may
telework and provide remote customer service in response to a
public health emergency declared because of COVID-19.
(2) To create marketing materials for employees of small
business development centers, women's business centers, and
chapters of the Service Corps of Retired Executives to educate
customers on available training and counseling resources
relevant to a public health emergency declared because of
COVID-19.
(c) Definitions.--In this section:
(1) Administrator.--The term ``Administrator'' means the
Administrator of the Small Business Administration.
(2) Service corps of retired executives.--The term
``Service Corps of Retired Executives'' means the Service Corps
of Retired Executives established under section 8(b)(1)(B) of
the Small Business Act (15 U.S.C. 637(b)(1)(B)).
(3) Small business development center.--The term ``small
business development center'' has the meaning given in section
3 of the Small Business Act (15 U.S.C. 632).
(4) Women's business center.--The term ``women's business
center'' means a women's business center as described under
section 29 of the Small Business Act (15 U.S.C. 656).
(d) Authorization of Appropriations.--There is authorized to be
appropriated $25,000,000 to the Administrator to carry out this Act, of
which not less than $15,000,000 shall be used for grants to small
business development centers.
SEC. 15. GRANT PROGRAMS FOR SMALL BUSINESS DEVELOPMENT CENTERS, WOMEN'S
BUSINESS CENTERS, AND CHAPTERS OF THE SERVICE CORPS OF
RETIRED EXECUTIVES.
(a) Small Business Development Center Grants.--
(1) Small business development center grants.--The
Administrator of the Small Business Administration shall
provide grants to small business development centers (as
defined in section 3 of the Small Business Act (15 U.S.C. 632))
for the purposes described in paragraph (2).
(2) Use of funds.--Grant funds under this subsection shall
be used to educate, train, and advise owners and employees of
small business concerns (as defined under section 3 of the
Small Business Act (15 U.S.C. 632)) on the following matters:
(A) The hazards of and prevention of the
transmission and communication of COVID-19 and similar
communicable diseases.
(B) The potential effects to the supply chains,
distribution, and sale of products of the concern, and
the mitigation of such effects, during a period of a
public health emergency declared because of COVID-19 or
a similar communicable disease.
(C) The management and practice of telework or
remote customer service by electronic or other means to
reduce possible transmission of COVID-19 and other
communicable diseases.
(D) The risks and mitigation of cyber threats in
remote customer service or telework practices.
(E) The mitigation of the effects of reduced travel
or outside activities during a period of a public
health emergency declared because of COVID-19 or a
similar communicable disease.
(F) Business continuity plans during a period of a
public health emergency declared because of COVID-19 or
a similar communicable disease.
(G) Any other relevant business practices necessary
to mitigate any economic effects experienced during a
period of a public health emergency declared because of
COVID-19 or a similar communicable disease.
(3) Formula.--The Administrator and the association
authorized under section 21(a)(3)(A) of the Small Business Act
(15 U.S.C. 648(a)(3)(A)) shall jointly establish a formula
under which grants under this subsection shall be awarded.
(4) Metrics and goals.--
(A) In general.--The Administrator and the
association described in paragraph (3) shall jointly
establish goals and metrics for the use of funds made
available under this subsection. Such goals and metrics
shall--
(i) consider the extent of the
circumstances relating to the spread of COVID-
19 or a similar communicable disease that
affect small business concerns served by each
grant recipient, particularly rural areas or
economically distressed areas;
(ii) ensure grant recipients comply with
the requirements of paragraph (2) while also
ensuring that grant recipients may have
flexibility in responding to unique situations;
and
(iii) encourage grant recipients to develop
and provide services to small business concerns
that are located in areas substantially
affected by COVID-19.
(B) Public availability.--The Administrator shall
make publicly available the methodology by which the
Administrator and the association jointly developed the
metrics and goals described in subparagraph (A).
(5) Authorization of appropriations.--There is authorized
to be appropriated $75,000,000, to remain available until
expended, to the Administrator to carry out this subsection.
(b) Establishment of Women's Business Center and Service Corps of
Retired Executives Grants.--
(1) In general.--The Administrator of the Small Business
Administration shall provide grants to women's business centers
(as described under section 29 of the Small Business Act (15
U.S.C. 656)) and to chapters of the Service Corps of Retired
Executives (established under section 8(b)(1)(B) of the Small
Business Act (15 U.S.C. 637(b)(1)(B))) for the purposes
described in paragraph (2).
(2) Use of funds.--Grant funds under this subsection shall
be used to educate, train, and advise owners and employees of
small business concerns on the following matters:
(A) The hazards of and prevention of the
transmission and communication of COVID-19 and similar
communicable diseases.
(B) The potential effects to the supply chains,
distribution, and sale of products of the concern, and
the mitigation of such effects, during a period of a
public health emergency declared because of COVID-19 or
a similar communicable disease.
(C) The management and practice of telework or
remote customer service by electronic or other means to
reduce possible transmission of COVID-19 and other
communicable diseases.
(D) The risks and mitigation of cyber threats in
remote customer service or telework practices.
(E) The mitigation of the effects of reduced travel
or outside activities during a period of a public
health emergency declared because of COVID-19 or a
similar communicable disease.
(F) Business continuity plans during a period of a
public health emergency declared because of COVID-19 or
a similar communicable disease.
(G) Any other relevant business practices necessary
to mitigate any economic effects experienced during a
period of a public health emergency declared because of
COVID-19 or a similar communicable disease.
(3) Authorization of appropriations.--There is authorized
to be appropriated $25,000,000, to remain available until
expended, to the Administrator to carry out this section.
(c) Report.--Not later than 6 months after the date of enactment of
this section, and annually thereafter until the amounts authorized in
subsection (a)(5) and subsection (b)(3) have been expended, the
Administrator shall submit to the Committee on Small Business and
Entrepreneurship of the Senate and the Committee on Small Business of
the House of Representatives a report that--
(1) describes, with respect to the initial year covered by
the report, the programs and services developed and provided by
the Administrator, small business development centers, women's
business centers, and chapters of the Service Corps of Retired
Executives in response to a public health emergency declared
because of COVID-19; and
(2) describes, with respect to the subsequent years covered
by the report--
(A) the efforts of the Administrator, small
business development centers, women's business centers,
and chapters of the Service Corps of Retired Executives
to develop services to assist small business concerns
affected by COVID-19;
(B) the challenges faced by owners of small
business concerns in accessing services provided by the
Administrator, small business development centers,
women's business centers, and chapters of the Service
Corps of Retired Executives in response to a public
health emergency declared because of COVID-19;
(C) the number of unique small business concerns
that were served by the Administrator, small business
development centers, women's business centers, and
chapters of the Service Corps of Retired Executives
under the programs established by this section; and
(D) other relevant performance data with respect to
small business concerns affected by COVID-19, including
the number of employees affected, the effect on sales
of the concern, any disruptions of supply chains, and
the efforts made by the Administrator, small business
development centers, women's business centers, and
chapters of the Service Corps of Retired Executives (as
applicable) to mitigate these effects.
SEC. 16. WAIVER OF MATCHING FUNDS REQUIREMENT UNDER THE WOMEN'S
BUSINESS CENTER PROGRAM.
During the 3-month period beginning on the date of the enactment of
this section, the requirement relating to obtaining cash contributions
from non-Federal sources under section 29(c)(1) of the Small Business
Act (15 U.S.C. 656(c)(1)) is waived for any recipient of assistance
under such section 29.
SEC. 17. STATE TRADE EXPANSION PROGRAM.
(a) Reimbursement.--The Administrator of the Small Business
Administration shall reimburse any recipient of assistance under
section 22(l) of the Small Business Act (15 U.S.C. 649(l)) for
financial losses relating to a foreign trade mission or a trade show
exhibition that was cancelled solely due to a public health emergency
declared due to COVID-19.
(b) Budget Plan Revisions.--Section 22(l)(3) of the Small Business
Act (15 U.S.C. 649(l)(3)) is amended--
(1) in subparagraph (D)(i), by inserting ``, including a
budget plan for use of funds awarded under this subsection''
before the period at the end; and
(2) by adding at the end the following new subparagraph:
``(E) Budget plan revisions.--
``(i) In general.--A State receiving a
grant under this subsection may revise the
budget plan of the State submitted under
subparagraph (D) after the disbursal of grant
funds if--
``(I) the revision complies with
allowable uses of grant funds under
this subsection; and
``(II) such State submits
notification of the revision to the
Associate Administrator.
``(ii) Exception.--If a revision under
clause (i) reallocates 10 percent or more of
the amounts described in the budget plan of the
State submitted under subparagraph (D), the
State may not implement the revised budget plan
without the approval of the Associate
Administrator, unless the Associate
Administrator fails to approve or deny the
revised plan within 10 days after receipt of
such revised plan.''.
SEC. 18. CONTRACTING AND ENTREPRENEURIAL DEVELOPMENT ASSISTANCE.
(a) Purpose.--The purpose of this section is to provide--
(1) flexibility to small business Federal suppliers and to
the Federal Government to more quickly award contracting
dollars to small business concerns in times of economic
uncertainty and downturn related to COVID-19; and
(2) additional funds to resource partners of the
Administration, such as small business development centers,
women's business centers, and SCORE to conduct outreach to
small business concerns affected by COVID-19, including by
increasing their virtual outreach capacity.
(b) Definitions.--In this section--
(1) the term ``contracting officer'' has the meaning given
the term in section 36(e) of the Small Business Act (15 U.S.C.
657f(e));
(2) the term ``covered entity'' means a small business
concern that--
(A) is a party to a contract with a Federal agency;
and
(B) experiences an adverse impact to the operations
of the small business concern as a result of COVID-19;
(3) the term ``economically disadvantaged women-owned small
business'' has the meaning given the term in section 127.102 of
title 13, Code of Federal Regulations, or any successor
regulation;
(4) the term ``HUBZone small business concern'' has the
meaning given the term in section 31(b) of the Small Business
Act (15 U.S.C. 657a(b));
(5) the term ``SCORE'' means the Service Corps of Retired
Executives program established under section 8(b)(1)(B) of the
Small Business Act (15 U.S.C. 637(b)(1)(B));
(6) the term ``small business concern owned and controlled
by service-disabled veterans'' has the meaning given the term
in section 3(q) of the Small Business Act (15 U.S.C. 632(q));
(7) the term ``small business concern owned and controlled
by women'' has the meaning given the term in section 8(m) of
the Small Business Act (15 U.S.C. 637(m));
(8) the term ``small business development center'' has the
meaning given the term in section 3(t) of the Small Business
Act (15 U.S.C. 632(t)); and
(9) the term ``women's business center'' means a women's
business center described in section 29 of the Small Business
Act (15 U.S.C. 656).
(c) Promotion of Small Business Contracting.--
(1) Small business contracting relief.--Notwithstanding any
other provision of law or regulation, during the period
beginning on the date of enactment of this section and ending
on September 30, 2021, the head of the Federal agency with
which a covered entity has a contract shall provide the covered
entity with--
(A) 90 additional days to carry out the
responsibilities of the covered entity under the
contract; or
(B) an additional amount of time to carry out the
responsibilities of the covered entity under the
contract that the head of the Federal agency determines
to be appropriate after taking into consideration the
severity of the adverse impact experienced by the
covered entity.
(2) Payment continuation.--If the performance of all or any
part of the work of a Federal goods or services contract in
force and effect during the period beginning on the date of
enactment of this section and ending on September 30, 2021, is
unavoidably delayed or interrupted by the small business
contractor employees' inability to access Government
facilities, systems, or other Government-provided resources due
to restrictions related to COVID-19 that have been imposed by
any authority or due to orders or instructions issued by the
Contracting Agency in response to COVID-19, the Government
shall pay the small business contractor, upon the submission of
the documentation required by the contract and according to the
terms specified in the contract, the prices stipulated in the
contract for goods or services as if the small business
contractor had rendered and the Government accepted the goods
or services. Contractor delivery schedules shall be revised and
small business contractors shall be eligible for equitable
adjustments based on the revised schedules.
(3) Temporary sole-source award parity among contracting
programs.--Notwithstanding any other provision of law or
regulation, during the period beginning on the date of
enactment of this section and ending on September 30, 2021,
with respect to a small business concern owned and controlled
by women, an economically disadvantaged women-owned small
business, a HUBZone small business concern, or a small business
concern owned and controlled by service-disabled veterans, a
contracting officer may award a sole source contract to the
small business concern if the anticipated award price of the
contract will not exceed the maximum permissible amount for the
contract, as provided under the applicable provision of the
Small Business Act (15 U.S.C. 631 et seq.), as amended by this
subsection.
(4) Increasing sole source caps.--
(A) Qualified hubzone small business concerns.--
Section 31(c)(2)(A)(ii) of the Small Business Act (15
U.S.C. 657a(c)(2)(A)(ii)) is amended--
(i) in subclause (I), by striking
``$5,000,000'' and inserting ``$10,000,000'';
and
(ii) in subclause (II), by striking
``$3,000,000'' and inserting ``$8,000,000''.
(B) Small business concerns owned and controlled by
service-disabled veterans.--Section 36(a)(2) of the
Small Business Act (15 U.S.C. 657f(a)(2)) is amended--
(i) in subparagraph (A), by striking
``$5,000,000'' and inserting ``$10,000,000'';
and
(ii) in subparagraph (B), by striking
``$3,000,000'' and inserting ``$8,000,000''.
(C) Small business concerns owned and controlled by
socially and economically disadvantaged individuals.--
Section 8(a)(1)(D)(i)(II) of the Small Business Act (15
U.S.C. 637(a)(1)(D)(i)(II)) is amended--
(i) by striking ``$5,000,000'' and
inserting ``$10,000,000''; and
(ii) by striking ``$3,000,000'' and
inserting ``$8,000,000''.
(D) Certain small business concerns owned and
controlled by women.--Section 8(m) of the Small
Business Act (15 U.S.C. 637(m)) is amended--
(i) in paragraph (7)(B)--
(I) in clause (i), by striking
``$6,500,000'' and inserting
``$10,000,000''; and
(II) in clause (ii), by striking
``$4,000,000'' and inserting
``$8,000,000''; and
(ii) in paragraph (8)(B)--
(I) in clause (i), by striking
``$6,500,000'' and inserting
``$10,000,000''; and
(II) in clause (ii), by striking
``$4,000,000'' and inserting
``$8,000,000''.
(5) Prompt payments of small business contractors.--
Notwithstanding any other provision of law or regulation,
during the period beginning on the date of enactment of this
section and until the invocation of the Defense Production Act
on March 18, 2020, by the President is repealed or rescinded--
(A) for a prime contractor (as defined in section
8701 of title 41) that is a small business concern (as
defined in section 3 of the Small Business Act (15
U.S.C. 632)), require that the head of an agency, to
the fullest extent permitted by law and to the maximum
extent practicable, establish an accelerated payment
date of 15 days after receipt of a proper invoice for
the amount due; and
(B) for a prime contractor that subcontracts with a
small business concern, require that the head of an
agency, to the fullest extent permitted by law and to
the maximum extent practicable, establish an
accelerated payment date of 15 days after receipt of a
proper invoice for the amount due if the prime
contractor agrees to make payments to the subcontractor
in accordance with the accelerated payment date, to the
maximum extent practicable, without any further
consideration from or fees charged to the
subcontractor.
(6) 8(a) extension.--The Administrator of the Small
Business Administration shall allow a participant in the
program established under section 8(a) of the Small Business
Act on the date of enactment of this section to extend such
participation by a period of 1 year.
SEC. 19. RESOURCES AND SERVICES IN LANGUAGES OTHER THAN ENGLISH.
(a) In General.--The Administrator of the Small Business
Administration shall provide resources and services to small business
concerns (as defined under section 3 of the Small Business Act (15
U.S.C. 632)) in the 10 most commonly spoken languages, other than
English, in the United States, which shall include Mandarin, Cantonese,
Japanese, and Korean.
(b) Authorization of Appropriations.--There is authorized to be
appropriated to the Administrator of the Small Business Administration
$25,000,000 to carry out this section.
SEC. 20. AUTHORIZATION OF APPROPRIATIONS FOR PERSONNEL.
There is authorized to be appropriated $200,000,000 to the
Administrator of the Small Business Administration for purposes of
hiring staff to carry out the requirements of this Act.
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