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15 U.S.C. § 9009c — Support for restaurants
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Administrator** — The term “Administrator” means the Administrator of the Small Business Administration.
(2) **Affiliated business** — The term “affiliated business” means a business in which an eligible entity has an equity or right to profit distributions of not less than 50 percent, or in which an eligible entity has the contractual authority to control the direction of the business, provided that such affiliation shall be determined as of any arrangements or agreements in existence as of March 13, 2020.
(3) **Covered period** — The term “covered period” means the period—
(A) beginning on February 15, 2020; and
(B) ending on December 31, 2021, or a date to be determined by the Administrator that is not later than 2 years after March 11, 2021.
(4) **Eligible entity** — The term “eligible entity”—
(A) means a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink;
(B) includes an entity described in subparagraph (A) that is located in an airport terminal or that is a Tribally-owned concern; and
(C) does not include—
(i) an entity described in subparagraph (A) that—
(I) is a State or local government-operated business;
(II) as of March 13, 2020, owns or operates (together with any affiliated business) more than 20 locations, regardless of whether those locations do business under the same or multiple names; or
(III) has a pending application for or has received a grant under
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Source file: Laws/federal/codes/united-states-code/title-15/section-9009c-support-for-restaurants--a76157f8b0.md
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Source location: Title 15, Chapter 116, § 9009c; chapter-116-coronavirus-economic-stabilization-cares-act.md
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**(a) Definitions** In this section:
(1) **Administrator** — The term “Administrator” means the Administrator of the Small Business Administration.
(2) **Affiliated business** — The term “affiliated business” means a business in which an eligible entity has an equity or right to profit distributions of not less than 50 percent, or in which an eligible entity has the contractual authority to control the direction of the business, provided that such affiliation shall be determined as of any arrangements or agreements in existence as of March 13, 2020.
(3) **Covered period** — The term “covered period” means the period—
(A) beginning on February 15, 2020; and
(B) ending on December 31, 2021, or a date to be determined by the Administrator that is not later than 2 years after March 11, 2021.
(4) **Eligible entity** — The term “eligible entity”—
(A) means a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink;
(B) includes an entity described in subparagraph (A) that is located in an airport terminal or that is a Tribally-owned concern; and
(C) does not include—
(i) an entity described in subparagraph (A) that—
(I) is a State or local government-operated business;
(II) as of March 13, 2020, owns or operates (together with any affiliated business) more than 20 locations, regardless of whether those locations do business under the same or multiple names; or
(III) has a pending application for or has received a grant under [section 9009a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009a&num=0&edition=prelim); or
(ii) a publicly-traded company.
(5) **Exchange; issuer; security** — The terms “exchange”, “issuer”, and “security” have the meanings given those terms in [section 78c(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a&num=0&edition=prelim).
(6) **Fund** — The term “Fund” means the Restaurant Revitalization Fund established under subsection (b).
(7) **Pandemic-related revenue loss** — The term “pandemic-related revenue loss” means, with respect to an eligible entity—
(A) except as provided in subparagraphs (B), (C), and (D), the gross receipts, as established using such verification documentation as the Administrator may require, of the eligible entity during 2020 subtracted from the gross receipts of the eligible entity in 2019, if such sum is greater than zero;
(B) if the eligible entity was not in operation for the entirety of 2019—
(i) the difference between—
(I) the product obtained by multiplying the average monthly gross receipts of the eligible entity in 2019 by 12; and
(II) the product obtained by multiplying the average monthly gross receipts of the eligible entity in 2020 by 12; or
(ii) an amount based on a formula determined by the Administrator;
(C) if the eligible entity opened during the period beginning on January 1, 2020, and ending on the day before March 11, 2021—
(i) the expenses described in subsection (c)(5)(A) that were incurred by the eligible entity minus any gross receipts received; or
(ii) an amount based on a formula determined by the Administrator; or
(D) if the eligible entity has not yet opened as of the date of application for a grant under subsection (c), but has incurred expenses described in subsection (c)(5)(A) as of March 11, 2021—
(i) the amount of those expenses; or
(ii) an amount based on a formula determined by the Administrator.
For purposes of this paragraph, the pandemic-related revenue losses for an eligible entity shall be reduced by any amounts received from a covered loan made under paragraph (36) or (37) of [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim) in 2020 or 2021.
(8) **Payroll costs** — The term “payroll costs” has the meaning given the term in [section 636(a)(36)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a/36/A&num=0&edition=prelim), except that such term shall not include—
(A) qualified wages (as defined in subsection (c)(3) of section 2301 of the CARES Act) taken into account in determining the credit allowed under such section 2301; or
(B) premiums taken into account in determining the credit allowed under [section 6432 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6432&num=0&edition=prelim).
(9) **Publicly-traded company** — The term “publicly-traded company” means an entity that is majority owned or controlled by an entity that is an issuer, the securities of which are listed on a national securities exchange under [section 78f of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78f&num=0&edition=prelim).
(10) **Tribally-owned concern** — The term “Tribally-owned concern” has the meaning given the term in section 124.3 of title 13, Code of Federal Regulations, or any successor regulation.
**(b) Restaurant Revitalization Fund**
(1) **In general** — There is established in the Treasury of the United States a fund to be known as the Restaurant Revitalization Fund.
(2) **Appropriations**
(A) *In general* — In addition to amounts otherwise available, there is appropriated to the Restaurant Revitalization Fund for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $28,600,000,000, to remain available until expended.
(B) *Distribution*
(i) *In general* — Of the amounts made available under subparagraph (A)—
(I) $5,000,000,000 shall be available to eligible entities with gross receipts during 2019 of not more than $500,000; and
(II) $23,600,000,000 shall be available to the Administrator to award grants under subsection (c) in an equitable manner to eligible entities of different sizes based on annual gross receipts.
(ii) *Adjustments* — The Administrator may make adjustments as necessary to the distribution of funds under clause (i)(II) based on demand and the relative local costs in the markets in which eligible entities operate.
(C) *Grants after initial period* — Notwithstanding subparagraph (B), on and after the date that is 60 days after March 11, 2021, or another period of time determined by the Administrator, the Administrator may make grants using amounts appropriated under subparagraph (A) to any eligible entity regardless of the annual gross receipts of the eligible entity.
(3) **Use of funds** — The Administrator shall use amounts in the Fund to make grants described in subsection (c).
**(c) Restaurant revitalization grants**
(1) **In general** — Except as provided in subsection (b) and paragraph (3), the Administrator shall award grants to eligible entities in the order in which applications are received by the Administrator.
(2) **Application**
(A) *Certification* — An eligible entity applying for a grant under this subsection shall make a good faith certification that—
(i) the uncertainty of current economic conditions makes necessary the grant request to support the ongoing operations of the eligible entity; and
(ii) the eligible entity has not applied for or received a grant under [section 9009a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009a&num=0&edition=prelim).
(B) *Business identifiers* — In accepting applications for grants under this subsection, the Administrator shall prioritize the ability of each applicant to use their existing business identifiers over requiring other forms of registration or identification that may not be common to their industry and imposing additional burdens on applicants.
(3) **Priority in awarding grants**
(A) *In general* — During the initial 21-day period in which the Administrator awards grants under this subsection, the Administrator shall prioritize awarding grants to eligible entities that are small business concerns owned and controlled by women (as defined in [section 632(n) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/n&num=0&edition=prelim)), small business concerns owned and controlled by veterans (as defined in [section 632(q) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/q&num=0&edition=prelim)), or socially and economically disadvantaged small business concerns (as defined in [section 637(a)(4)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/a/4/A&num=0&edition=prelim)). The Administrator may take such steps as necessary to ensure that eligible entities described in this subparagraph have access to grant funding under this section after the end of such 21-day period.
(B) *Certification* — For purposes of establishing priority under subparagraph (A), an applicant shall submit a self-certification of eligibility for priority with the grant application.
(4) **Grant amount**
(A) *Aggregate maximum amount* — The aggregate amount of grants made to an eligible entity and any affiliated businesses of the eligible entity under this subsection—
(i) shall not exceed $10,000,000; and
(ii) shall be limited to $5,000,000 per physical location of the eligible entity.
(B) *Determination of grant amount*
(i) *In general* — Except as provided in this paragraph, the amount of a grant made to an eligible entity under this subsection shall be equal to the pandemic-related revenue loss of the eligible entity.
(ii) *Return to Treasury* — Any amount of a grant made under this subsection to an eligible entity based on estimated receipts that is greater than the actual gross receipts of the eligible entity in 2020 shall be returned to the Treasury.
(5) **Use of funds** — During the covered period, an eligible entity that receives a grant under this subsection may use the grant funds for the following expenses incurred as a direct result of, or during, the COVID–19 pandemic:
(A) Payroll costs.
(B) Payments of principal or interest on any mortgage obligation (which shall not include any prepayment of principal on a mortgage obligation).
(C) Rent payments, including rent under a lease agreement (which shall not include any prepayment of rent).
(D) Utilities.
(E) Maintenance expenses, including—
(i) construction to accommodate outdoor seating; and
(ii) walls, floors, deck surfaces, furniture, fixtures, and equipment.
(F) Supplies, including protective equipment and cleaning materials.
(G) Food and beverage expenses that are within the scope of the normal business practice of the eligible entity before the covered period.
(H) Covered supplier costs, as defined in [section 636m(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636m/a&num=0&edition=prelim) (as redesignated, transferred, and amended by section 304(b) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Public Law 116–260)).
(I) Operational expenses.
(J) Paid sick leave.
(K) Any other expenses that the Administrator determines to be essential to maintaining the eligible entity.
(6) **Returning funds** — If an eligible entity that receives a grant under this subsection fails to use all grant funds or permanently ceases operations on or before the last day of the covered period, the eligible entity shall return to the Treasury any funds that the eligible entity did not use for the allowable expenses under paragraph (5).
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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
**(a) Definitions** In this section:
(1) **Eligible person or entity**
(A) *In general* — The term “eligible person or entity” means a live venue operator or promoter, theatrical producer, or live performing arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative that meets the following requirements:
(i) The live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative—
(I) was fully operational as a live venue operator or promoter, theatrical producer, or live performing arts organization operator, a relevant museum operator, a motion picture theatre operator, or a talent representative on February 29, 2020; and
(II) has gross earned revenue during the first, second, third, or, only with respect to an application submitted on or after January 1, 2021, fourth quarter in 2020 that demonstrates not less than a 25 percent reduction from the gross earned revenue of the live venue operator or promoter, theatrical producer, or live performing arts organization operator, the relevant museum operator, the motion picture theatre operator, or the talent representative during the same quarter in 2019.
(ii) As of the date of the grant under this section—
(I) the live venue operator or promoter, theatrical producer, or live performing arts organization operator is or intends to resume organizing, promoting, producing, managing, or hosting future live events described in paragraph (3)(A)(i);
(II) the motion picture theatre operator is open or intends to reopen for the primary purpose of public exhibition of motion pictures;
(III) the relevan
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 9009a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Registration; application** An exchange may be registered as a national securities exchange under the terms and conditions hereinafter provided in this section and in accordance with the provisions of [section 78s(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78s/a&num=0&edition=prelim), by filing with the Commission an application for registration in such form as the Commission, by rule, may prescribe containing the rules of the exchange and such other information and documents as the Commission, by rule, may prescribe as necessary or appropriate in the public interest or for the protection of investors.
**(b) Determination by Commission requisite to registration of applicant as a national securities exchange** An exchange shall not be registered as a national securities exchange unless the Commission determines that—
(1) Such exchange is so organized and has the capacity to be able to carry out the purposes of this chapter and to comply, and (subject to any rule or order of the Commission pursuant to section 78q(d) or 78s(g)(2) of this title) to enforce compliance by its members and persons associated with its members, with the provisions of this chapter, the rules and regulations thereunder, and the rules of the exchange.
(2) Subject to the provisions of subsection (c) of this section, the rules of the exchange provide that any registered broker or dealer or natural person associated with a registered broker or dealer may become a member of such exchange and any person may become associated with a member thereof.
(3) The rules of the exchange assure a fair representation of its members in the selection of its directors and administration of its affairs and provide that one or more directors shall be representa
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78f
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The person to whom premiums are payable for continuation coverage under section 9501(a)(1) of the American Rescue Plan Act of 2021 shall be allowed as a credit against the tax imposed by section 3111(b), or so much of the taxes imposed under section 3221(a) as are attributable to the rate in effect under section 3111(b), for each calendar quarter an amount equal to the premiums not paid by assistance eligible individuals for such coverage by reason of such section 9501(a)(1) with respect to such calendar quarter.
**(b) Person to whom premiums are payable** For purposes of subsection (a), except as otherwise provided by the Secretary, the person to whom premiums are payable under such continuation coverage shall be treated as being—
(1) in the case of any group health plan which is a multiemployer plan (as defined in section 3(37) of the Employee Retirement Income Security Act of 1974), the plan,
(2) in the case of any group health plan not described in paragraph (1)—
(A) which is subject to the COBRA continuation provisions contained in—
(i) the Internal Revenue Code of 1986,
(ii) the Employee Retirement Income Security Act of 1974, or
(iii) the Public Health Service Act, or
(B) under which some or all of the coverage is not provided by insurance,
the employer maintaining the plan, and
(3) in the case of any group health plan not described in paragraph (1) or (2), the insurer providing the coverage under the group health plan.
**(c) Limitations and refundability**
(1) **Credit limited to certain employment taxes** — The credit allowed by subsection (a) with respect to any calendar quarter shall not exceed the tax imposed by section 3111(b), or so much of the taxes imposed under section 3221(a) as are attributable to the ra
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6432
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Old-age, survivors, and disability insurance** In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to 6.2 percent of the wages (as defined in section 3121(a)) paid by the employer with respect to employment (as defined in section 3121(b)).
**(b) Hospital insurance** In addition to the tax imposed by the preceding subsection, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to 1.45 percent of the wages (as defined in section 3121(a)) paid by the employer with respect to employment (as defined in section 3121(b)).
**(c) Relief from taxes in cases covered by certain international agreements** During any period in which there is in effect an agreement entered into pursuant to section 233 of the Social Security Act with any foreign country, wages received by or paid to an individual shall be exempt from the taxes imposed by this section to the extent that such wages are subject under such agreement exclusively to the laws applicable to the social security system of such foreign country.
**(d) Repealed. Pub. L. 115–141, div. U, title IV, § 401(b)(34), Mar. 23, 2018, 132 Stat. 1204]**
**(e) Credit for employment of qualified veterans**
(1) **In general** — If a qualified tax-exempt organization hires a qualified veteran with respect to whom a credit would be allowable under section 38 by reason of section 51 if the organization were not a qualified tax-exempt organization, then there shall be allowed as a credit against the tax imposed by subsection (a) on wages paid with respect to employment of all employees of the organization during the applicable period an amount equal to the credit determined under section 51
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 3111
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In the case of an employer, there shall be allowed as a credit against applicable employment taxes for each calendar quarter an amount equal to 100 percent of the qualified sick leave wages paid by such employer with respect to such calendar quarter.
**(b) Limitations and refundability**
(1) **Wages taken into account** — The amount of qualified sick leave wages taken into account under subsection (a), plus any increases under subsection (e), with respect to any individual shall not exceed $200 ($511 in the case of any day any portion of which is paid sick time described in paragraph (1), (2), or (3) of section 5102(a) of the Emergency Paid Sick Leave Act, applied with the modification described in subsection (c)(2)(A)(i)) for any day (or portion thereof) for which the individual is paid qualified sick leave wages.
(2) **Overall limitation on number of days taken into account** — The aggregate number of days taken into account under paragraph (1) for any calendar quarter shall not exceed the excess (if any) of—
(A) 10, over
(B) the aggregate number of days so taken into account during preceding calendar quarters in such calendar year (other than the first quarter of calendar year 2021).
(3) **Credit limited to certain employment taxes** — The credit allowed by subsection (a) with respect to any calendar quarter shall not exceed the applicable employment taxes for such calendar quarter on the wages paid with respect to the employment of all employees of the employer.
(4) **Refundability of excess credit**
(A) *Credit is refundable* — If the amount of the credit under subsection (a) exceeds the limitation of paragraph (3) for any calendar quarter, such excess shall be treated as an overpayment that shall be refunded under sections 6402(a)
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 3131
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In the case of an employer, there shall be allowed as a credit against applicable employment taxes for each calendar quarter an amount equal to 100 percent of the qualified family leave wages paid by such employer with respect to such calendar quarter.
**(b) Limitations and refundability**
(1) **Wages taken into account** — The amount of qualified family leave wages taken into account under subsection (a), plus any increases under subsection (e), with respect to any individual shall not exceed—
(A) for any day (or portion thereof) for which the individual is paid qualified family leave wages, $200, and
(B) in the aggregate with respect to all calendar quarters, $12,000.
(2) **Credit limited to certain employment taxes** — The credit allowed by subsection (a) with respect to any calendar quarter shall not exceed the applicable employment taxes for such calendar quarter (reduced by any credits allowed under section 3131) on the wages paid with respect to the employment of all employees of the employer.
(3) **Refundability of excess credit**
(A) *Credit is refundable* — If the amount of the credit under subsection (a) exceeds the limitation of paragraph (2) for any calendar quarter, such excess shall be treated as an overpayment that shall be refunded under sections 6402(a) and 6413(b).
(B) *Advancing credit* — In anticipation of the credit, including the refundable portion under subparagraph (A), the credit shall be advanced, according to forms and instructions provided by the Secretary, up to an amount calculated under subsection (a), subject to the limits under paragraph (1) and (2), all calculated through the end of the most recent payroll period in the quarter.
**(c) Qualified family leave wages**
(1) **In general** — For purposes
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 3132
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In the case of an eligible employer, there shall be allowed as a credit against applicable employment taxes for each calendar quarter an amount equal to 70 percent of the qualified wages with respect to each employee of such employer for such calendar quarter.
**(b) Limitations and refundability**
(1) **In general**
(A) *Wages taken into account* — The amount of qualified wages with respect to any employee which may be taken into account under subsection (a) by the eligible employer for any calendar quarter shall not exceed $10,000.
(B) *Recovery startup businesses* — In the case of an eligible employer which is a recovery startup business (as defined in subsection (c)(5)), the amount of the credit allowed under subsection (a) (after application of subparagraph (A)) for any calendar quarter shall not exceed $50,000.
(2) **Credit limited to employment taxes** — The credit allowed by subsection (a) with respect to any calendar quarter shall not exceed the applicable employment taxes (reduced by any credits allowed under sections 3131 and 3132) on the wages paid with respect to the employment of all the employees of the eligible employer for such calendar quarter.
(3) **Refundability of excess credit** — If the amount of the credit under subsection (a) exceeds the limitation of paragraph (2) for any calendar quarter, such excess shall be treated as an overpayment that shall be refunded under sections 6402(a) and 6413(b).
**(c) Definitions** For purposes of this section—
(1) **Applicable employment taxes** — The term “applicable employment taxes” means the following:
(A) The taxes imposed under section 3111(b).
(B) So much of the taxes imposed under section 3221(a) as are attributable to the rate in effect under section 3111(b).
(2) **E
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 3134
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Federal law — U.S. Code and appendices · legal_authorities
Page 2493
TITLE 15—COMMERCE AND TRADE
§ 9009c
(g) Administration
In carrying out this section, the Adminis-
trator may rely on loan officers and other per-
sonnel of the Office of Disaster Assistance of the
Administration and other resources of the Ad-
ministration, including contractors of the Ad-
ministration.
(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 De-
cember 31, 2021; and
(2) of which $20,000,000 is authorized to be ap-
propriated to the Inspector General of the Ad-
ministration 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 pursu-
ant to this section shall be filed not later than
10 years after the offense was committed.
(Pub. L. 116–260, div. N, title III, § 331, Dec. 27,
2020, 134 Stat. 2043; Pub. L. 117–165, § 2(c), Aug. 5,
2022, 136 Stat. 1363.)
Editorial Notes
REFERENCES IN TEXT
Section 332 of this Act, referred to in subsec. (a)(3), is
section 332 of div. N of Pub. L. 116–260.
CODIFICATION
Section was enacted as part of the Economic Aid to
Hard-Hit Small Businesses, Nonprofits, and Venues
Act, and not as part of the CARES Act which in part
comprises this chapter.
AMENDMENTS
2022—Subsec. (i). Pub. L. 117–165 added subsec. (i).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective on Dec. 27, 2020, and applicable to
loans and grants made on or after Dec. 27, 2020, see sec-
tion 348 of Pub. L. 116–260, set out as an Effective Da
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 9009c
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.