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15 U.S.C. § 9009b — Targeted EIDL advance for small business continuity, adaptation, and resiliency
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Agricultural enterprise** — The term “agricultural enterprise” has the meaning given the term in [section 647(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section647/b&num=0&edition=prelim).
(2) **Covered entity** — The term “covered entity”—
(A) means an eligible entity that—
(i) applies for a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) during the covered period, including before December 27, 2020;
(ii) is located in a low-income community;
(iii) has suffered an economic loss of greater than 30 percent; and
(iv) employs not more than 300 employees; and
(B) except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise.
(3) **Covered period** — The term “covered period” has the meaning given the term in [section 9009(a)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/a/1&num=0&edition=prelim), as amended by section 332 of this Act.
(4) **Economic loss** — The term “economic loss” means, with respect to a covered entity—
(A) the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or
(B) if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator.
(5) **Eligible entity** — The term “eligible entity” means an entity that, during the covered period, is el
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Source file: Laws/federal/codes/united-states-code/title-15/section-9009b-targeted-eidl-advance-for-small-business-continuity-adaptation-and-resil--178daada0e.md
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Source location: Title 15, Chapter 116, § 9009b; chapter-116-coronavirus-economic-stabilization-cares-act.md
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**(a) Definitions** In this section:
(1) **Agricultural enterprise** — The term “agricultural enterprise” has the meaning given the term in [section 647(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section647/b&num=0&edition=prelim).
(2) **Covered entity** — The term “covered entity”—
(A) means an eligible entity that—
(i) applies for a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) during the covered period, including before December 27, 2020;
(ii) is located in a low-income community;
(iii) has suffered an economic loss of greater than 30 percent; and
(iv) employs not more than 300 employees; and
(B) except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise.
(3) **Covered period** — The term “covered period” has the meaning given the term in [section 9009(a)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/a/1&num=0&edition=prelim), as amended by section 332 of this Act.
(4) **Economic loss** — The term “economic loss” means, with respect to a covered entity—
(A) the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or
(B) if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator.
(5) **Eligible entity** — The term “eligible entity” means an entity that, during the covered period, is eligible for a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim), as described in [section 9009(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/b&num=0&edition=prelim).
(6) **Low-income community** — The term “low-income community” has the meaning given the term in [section 45D(e) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section45D/e&num=0&edition=prelim).
**(b) Entitlement to full amount**
(1) **In general** — Subject to paragraph (2), a covered entity, after submitting a request to the Administrator that the Administrator verifies under subsection (c), shall receive a total of $10,000 under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim), without regard to whether—
(A) the applicable loan for which the covered entity applies or applied under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) is or was approved;
(B) the covered entity accepts or accepted the offer of the Administrator with respect to an approved loan described in subparagraph (A); or
(C) the covered entity has previously received a loan under [section 636(a)(36) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a/36&num=0&edition=prelim).
(2) **Effect of previously received amounts**
(A) *In general* — With respect to a covered entity that received an emergency grant under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim) before December 27, 2020, the amount of the payment that the covered entity shall receive under this subsection (after satisfaction of the procedures required under subparagraph (B)) shall be the difference between $10,000 and the amount of that previously received grant.
(B) *Procedures* — If the Administrator receives a request under paragraph (1) from a covered entity described in subparagraph (A) of this paragraph, the Administrator shall, not later than 21 days after the date on which the Administrator receives the request—
(i) perform the verification required under subsection (c);
(ii) if the Administrator, under subsection (c), verifies that the entity is a covered entity, provide to the covered entity a payment in the amount described in subparagraph (A); and
(iii) with respect to a covered entity that the Administrator determines is not entitled to a payment under this section, provide the covered entity with a notification explaining why the Administrator reached that determination.
(C) *Rule of construction* — Nothing in this paragraph may be construed to require any entity that received an emergency grant under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim) before December 27, 2020, to repay any amount of that grant.
**(c) Verification** In carrying out this section, the Administrator shall require any information, including any tax records, from an entity submitting a request under subsection (b) that the Administrator determines to be necessary to verify that the entity is a covered entity, without regard to whether the entity has previously submitted such information to the Administrator.
**(d) Order of processing** The Administrator shall process and approve requests for payments under subsection (b) in the order that the Administrator receives the requests, except that the Administrator shall give—
(1) first priority to covered entities described in subsection (b)(2)(A); and
(2) second priority to covered entities that have not received emergency grants under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim), as of the date on which the Administrator receives such a request, because of the unavailability of funding to carry out such section 9009(e).
**(e) Applicability** In addition to any other restriction imposed under this section, any eligibility restriction applicable to a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim), including any restriction under section 123.300 or 123.301 of title 13, Code of Federal Regulations, or any successor regulation, shall apply with respect to funding provided under this section.
**(f) Notification required** The Administrator shall provide notice to each of the following entities stating that the entity may be eligible for a payment under this section if the entity satisfies the requirements under clauses (ii), (iii), and (iv) of subsection (a)(2)(A):
(1) Each entity that received an emergency grant under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim) before December 27, 2020.
(2) Each entity that, before December 27, 2020—
(A) applied for a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim); and
(B) did not receive an emergency grant under [section 9009(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/e&num=0&edition=prelim) because of the unavailability of funding to carry out such section 9009(e).
**(g) Administration** In carrying out this section, the Administrator may rely on loan officers and other personnel of the Office of Disaster Assistance of the Administration and other resources of the Administration, including contractors of the Administration.
**(h) Authorization of appropriations** There are authorized to be appropriated to the Administrator $20,000,000,000 to carry out this section—
(1) which shall remain available through December 31, 2021; and
(2) of which $20,000,000 is authorized to be appropriated to the Inspector General of the Administration to prevent waste, fraud, and abuse with respect to funding provided under this section.
**(i) Statute of limitations** Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of any amount received pursuant to this section shall be filed not later than 10 years after the offense was committed.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** The adjusted basis of a partner’s interest in a partnership shall, except as provided in subsection (b), be the basis of such interest determined under section 722 (relating to contributions to a partnership) or section 742 (relating to transfers of partnership interests)—
(1) increased by the sum of his distributive share for the taxable year and prior taxable years of—
(A) taxable income of the partnership as determined under section 703(a),
(B) income of the partnership exempt from tax under this title, and
(C) the excess of the deductions for depletion over the basis of the property subject to depletion;
(2) decreased (but not below zero) by distributions by the partnership as provided in section 733 and by the sum of his distributive share for the taxable year and prior taxable years of—
(A) losses of the partnership, and
(B) expenditures of the partnership not deductible in computing its taxable income and not properly chargeable to capital account; and
(3) decreased (but not below zero) by the amount of the partner’s deduction for depletion for any partnership oil and gas property to the extent such deduction does not exceed the proportionate share of the adjusted basis of such property allocated to such partner under section 613A(c)(7)(D).
**(b) Alternative rule** The Secretary shall prescribe by regulations the circumstances under which the adjusted basis of a partner’s interest in a partnership may be determined by reference to his proportionate share of the adjusted basis of partnership property upon a termination of the partnership.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 705
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of—
(1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and
(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000.
**(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000.
**(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
In this title— 11 See References in Text note below.
(1) the terms “Administration” and “Administrator” mean the Small Business Administration and the Administrator thereof, respectively; and
(2) the term “small business concern” has the meaning given the term in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 9001
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the terms “appropriate Federal banking agency” and “insured depository institution” have the meanings given those terms in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim);
(2) the term “insured credit union” has the meaning given the term in [section 1752 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752&num=0&edition=prelim); and
(3) the term “Secretary” means the Secretary of the Treasury.
**(b) Authority to include additional financial institutions** The Department of the Treasury, in consultation with the Administrator, and the Chairman of the Farm Credit Administration shall establish criteria for insured depository institutions, insured credit unions, institutions of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim) et seq.), and other lenders that do not already participate in lending under programs of the Administration, to participate in the paycheck protection program to provide loans under this section until the date on which the national emergency declared by the President under the National Emergencies Act ([50 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1601&num=0&edition=prelim) et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires.
**(c) Safety and soundness** An insured depository institution, insured credit union, institution of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-secti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 9008
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations** The Administration is empowered to the extent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business concern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the following restrictions, limitations, and provisions:
(1) **In general.—**
(A) *Credit elsewhere.—*
(i) *In general.—* — The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere. No financial assistance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participation may be purchased unless it is shown that a deferred participation is not available; and no direct financing may be made unless it is shown that a participation is not available.
(ii) *Liquidity.—* — On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market.
(B) *Background checks.—* — Prior to the approval of any loan made pursuant to this subsecti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the term “covered period” means the period beginning on January 31, 2020 and ending on December 31, 2021; and
(2) the term “eligible entity” means—
(A) a business with not more than 500 employees;
(B) any individual who operates under a sole proprietorship, with or without employees, or as an independent contractor;
(C) a cooperative with not more than 500 employees;
(D) an ESOP (as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632&num=0&edition=prelim)) with not more than 500 employees;
(E) a tribal small business concern, as described in [section 657a(b)(2)(C) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section657a/b/2/C&num=0&edition=prelim), with not more than 500 employees; or
(F) an agricultural enterprise (as defined in [section 647(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section647/b&num=0&edition=prelim) 11 So in original. Probably should be followed by a closing parenthesis. with not more than 500 employees.
**(b) Eligible entities** During the covered period, in addition to small business concerns, private nonprofit organizations, and small agricultural cooperatives, an eligible entity shall be eligible for a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim).
**(c) Terms; credit elsewhere** With respect to a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) in response to COVID–19 during the covered period, the Administrator shall waive
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 9009
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Federal law — U.S. Code and appendices · legal_authorities
Page 2491
TITLE 15—COMMERCE AND TRADE
§ 9009b
1 So in original. The period probably should be ‘‘; and’’.
Committee on Small Business and Entrepre-
neurship of the Senate and the Committee on
Small Business of the House of Representa-
tives an audit plan that details—
(A) the policies and procedures of the Ad-
ministrator for conducting oversight and au-
dits of grants under this section; and
(B) the metrics that the Administrator
shall use to determine which grants under
this section will be audited pursuant to sub-
section (e).
(2) Reports
Not later than 60 days after December 27,
2020, and each month thereafter until the date
that is 1 year after the date on which all
amounts
made
available
under
section
323(d)(1)(H) of this Act 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 on
the oversight and audit activities of the Ad-
ministrator under this subsection, which shall
include—
(A) the total number of initial grants ap-
proved and disbursed;
(B) the total amount of grants received by
each eligible person or entity, including any
supplemental grants;
(C) the number of active investigations
and audits of grants under this section;
(D) the number of completed reviews and
audits of grants under this section, including
a description of any findings of fraud or
other material noncompliance.1
(E) any substantial changes made to the
oversight and audit plan submitted under
paragraph (1).
(Pub. L. 116–260, div. N, title III, § 324, Dec. 27,
2020, 134 Stat. 2022; Pub. L. 117–2, title V,
§ 5005(b), Mar. 11, 2021, 135 Stat. 92.)
Editorial Notes
REFERENCES IN TEXT
The Robert T. Stafford Disaste
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 9009b
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