Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by American Rescue Plan Act
Summary
An interim final rule of the U.S. Small Business Administration, published in the Federal Register (Vol. 86, No. 53) on Monday, March 22, 2021, that revises the Paycheck Protection Program rules to incorporate the American Rescue Plan Act of 2021, enacted March 11, 2021. The rule says the Act expanded eligibility for first and second draw PPP loans, revised the exclusions from payroll costs for loan forgiveness, and lets a PPP borrower that received a loan after December 27, 2020 be approved for a Shuttered Venue Operator Grant under certain conditions. It also clarifies first draw eligibility for applicants with a NAICS code beginning with 72 and more than one physical location. Eligible entities listed include 501(c)(3) nonprofits with not more than 500 employees per physical location and internet-only news publishers with no more than 300.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations 15083
subsequent rulemaking. We may also congressional waiting period under SMALL BUSINESS ADMINISTRATION
engage in a rulemaking that implements section 5.17(c)(1) of the Act.
section 5.61C(h) of the Act, which 13 CFR Parts 120 and 121
governs the chartering, termination, and V. Regulatory Flexibility Act Analysis
and Major Rule Conclusion [Docket Number SBA–2021–0013]
dissolution of System bridge banks that
enable FCSIC to handle the resolution of RIN 3245–AH77
Pursuant to section 605(b) of the
one or more distressed FCS institutions. Regulatory Flexibility Act (5 U.S.C. 601 Business Loan Program Temporary
IV. Direct Final Rule et seq.), FCA hereby certifies that the Changes; Paycheck Protection
direct final rule would not have a Program as Amended by American
For the reasons discussed above, we significant economic impact on a Rescue Plan Act
are rescinding the above-referenced substantial number of small entities.
sections of part 627 subparts B AGENCY: U.S. Small Business
Each of the banks in the Farm Credit
(Receivers and Receiverships) and C Administration.
System, considered together with its
(Conservators and Conservatorships) by ACTION: Interim final rule.
affiliated associations, has assets and
direct final rulemaking. The
Administrative Conference of the annual income in excess of the amounts SUMMARY: This interim final rule
United States recommends direct final that would qualify them as small implements changes related to loans
rulemakings for Federal agencies to entities. Therefore, Farm Credit System made under the Paycheck Protection
enact noncontroversial regulations on institutions are not ‘‘small entities’’ as Program (PPP), which was originally
an expedited basis, without the usual defined in the Regulatory Flexibility established under the Coronavirus Aid,
notice and comment period.5 This Act. Relief, and Economic Security Act
process enables us to reduce the time Under the provisions of the (CARES Act) to provide economic relief
and resources we need to develop, Congressional Review Act (5 U.S.C. 801 to small businesses nationwide
review, and publish a final rule while et seq.), the Office of Management and adversely impacted by the Coronavirus
still affording the public an adequate Budget’s Office of Information and Disease 2019 (COVID–19). On December
opportunity to comment or object to the Regulatory Affairs has determined that 27, 2020, the Economic Aid to Hard-Hit
rule. this direct final rule is not a ‘‘major Small Businesses, Nonprofits, and
In a direct final rulemaking, we notify Venues Act (Economic Aid Act) was
rule,’’ as the term is defined at 5 U.S.C.
the public that the rule will become enacted, extending the authority to
804(2).
effective on a specified date unless we make PPP loans through March 31,
receive a significant adverse comment List of Subjects in 12 CFR Part 627 2021, revising certain PPP requirements,
during the comment period. A and permitting second draw PPP loans.
Agriculture, Banks, Banking, Claims, On January 14, 2021, SBA published an
significant adverse comment is one Rural areas.
where the commenter explains why the interim final rule that incorporated the
rule would be inappropriate (including For the reasons stated in the Economic Aid Act amendments to the
challenges to its underlying premise or preamble, part 627 of chapter VI, title 12 PPP and consolidated the interim final
approach), ineffective, or unacceptable of the Code of Federal Regulations are rules (and important guidance) that had
without a change. In general, a been issued governing borrower
amended as follows:
significant adverse comment would eligibility, lender eligibility, and PPP
raise an issue serious enough to warrant PART 627— TITLE IV application and origination
a substantive response from the FCA in CONSERVATORS, RECEIVERS, AND requirements for PPP loans. On March
a notice-and-comment proceeding. VOLUNTARY LIQUIDATIONS 11, 2021, the American Rescue Plan Act
of 2021 (American Rescue Plan Act) was
We believe that a direct final enacted expanding eligibility for first
rulemaking is the appropriate method ■ 1. The authority citation for part 627
and second draw PPP loans, revising the
for rescinding above-referenced sections continues to read as follows: exclusions from payroll costs for
in subparts B and C of part 627 that are Authority: Secs. 4.2, 5.9, 5.10, 5.17, 5.51, purposes of loan forgiveness, and
superseded by the 2018 Farm Bill. We 5.58, 5.61 of the Farm Credit Act (12 U.S.C. providing that a PPP borrower that
do not anticipate there will be 2183, 2243, 2244, 2252, 2277a, 2277a–7, receives a PPP loan after December 27,
significant adverse comments because 2277a–10). 2020 can be approved for a Shuttered
this direct final rule implements recent Venue Operator Grant under certain
statutory amendments governing §§ 627.2725, 627.2726, 627.2730, 627.2740, conditions. This interim final rule
FCSIC’s numerous powers and duties as 627.2745, 627.2750, 627.2752, 627.2755,
revises the PPP rules to incorporate the
the conservator or receiver of System 627.2760, and 627.2780 [Removed and
Reserved]
American Rescue Plan Act’s
institutions. If, however, we receive a amendments to the PPP. Additionally,
significant adverse comment during the this interim final rule clarifies the
■ 2. Sections 627.2725, 627.2726,
comment period, we will publish in the eligibility for first draw PPP loans for
627.2730, 627.2740, 627.2745, 627.2750,
Federal Register a notice of withdrawal applicants that are assigned a North
of the relevant provisions of this rule 627.2752, 627.2755, 627.2760, and
627.2780 are removed and reserved. American Industry Classification
that will also indicate how the agency System (NAICS) code beginning with 72
plans to proceed. If we receive no Dated: March 17, 2021. and have more than one physical
significant adverse comments, we will Dale Aultman, location and clarifies certain payroll
publish notice of the effective date of Secretary, Farm Credit Administration Board. cost exclusions included in the
jbell on DSKJLSW7X2PROD with RULES
the rule following the required [FR Doc. 2021–05860 Filed 3–19–21; 8:45 am] Economic Aid Act.
BILLING CODE 6705–01–P DATES:
5 Recommendation 95–4, referencing the
Administrative Procedure Act ‘‘good cause’’
Effective date: The provisions of this
exemption at 5 U.S.C. 553(b)(B), adopted June 15, interim final rule are effective March 18,
1995. 2021.
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
15084 Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations
Applicability date: The provisions of (Second Draw PPP Loans) to eligible addition, this rule is being issued to
this interim final rule incorporating the borrowers under generally the same allow for immediate implementation of
American Rescue Plan Act changes to terms and conditions available under these changes. The intent of the CARES
the PPP apply to PPP loans approved, section 7(a)(36) of the Small Business Act, the Economic Aid Act, and the
and loan forgiveness applications Act through March 31, 2021. The American Rescue Plan Act is that SBA
submitted, on or after March 11, 2021. Economic Aid Act also redesignated provide relief to America’s small
Comment date: Comments must be section 1106 of the CARES Act as businesses and nonprofit organizations
received on or before April 21, 2021. section 7A of the Small Business Act, to expeditiously. Given the urgent need to
ADDRESSES: You may submit comments, appear after section 7 of the Small provide borrowers with timely relief
identified by number SBA–2021–0013 Business Act. and the short period of time before the
through the Federal eRulemaking Portal: SBA initially published an interim program ends on March 31, 2021, SBA
http://www.regulations.gov. Follow the final rule implementing the PPP on has determined that it is impractical and
instructions for submitting comments. April 15, 2020 and subsequently issued not in the public interest to provide a
SBA will post all comments on additional interim final rules. On 30-day delayed effective date. An
www.regulations.gov. If you wish to January 14, 2021, SBA published immediate effective date will allow SBA
submit confidential business interim final rules implementing the to give small businesses and nonprofit
information (CBI) as defined in the User Economic Aid Act amendments to the organizations affected by this interim
Notice at www.regulations.gov, please PPP.1 On February 5, 2021, SBA final rule the maximum amount of time
send an email to ppp-ifr@sba.gov. All published an additional interim final to apply for loans and lenders the
other comments must be submitted rule implementing Economic Aid Act maximum amount of time to process
through the Federal eRulemaking Portal changes related to the forgiveness and applications before the program ends.
described above. Highlight the review of PPP loans.2 Following the This good cause justification also
information that you consider to be CBI publication of the interim final rules supports waiver of the 60-day delayed
and explain why you believe SBA implementing the Economic Aid Act, effective date for major rules under the
should hold this information as SBA published another interim final Congressional Review Act at 5 U.S.C.
confidential. SBA will review the rule revising certain loan amount 808(2). Although this interim final rule
information and make the final calculation and eligibility provisions of is effective immediately, comments are
determination whether it will publish those rules.3 As described below, this solicited from interested members of the
the information. interim final rule further revises the public on all aspects of the interim final
FOR FURTHER INFORMATION CONTACT: A consolidated interim final rule rule.
Call Center Representative at 833–572– implementing updates to the PPP, the These comments must be submitted
0502, or the local SBA Field Office; the interim final rule on second draw PPP on or before April 21, 2021. SBA will
list of offices can be found at https:// loans, and the consolidated interim final consider these comments and the need
www.sba.gov/tools/local-assistance/ rule on loan forgiveness requirements for making any revisions as a result of
districtoffices. and loan review procedures, by these comments.
SUPPLEMENTARY INFORMATION:
incorporating the expanded eligibility III. Paycheck Protection Program as
for First Draw and Second Draw PPP Amended by the American Rescue Plan
I. Background Information Loans and the exclusions from payroll Act
On March 27, 2020, the Coronavirus costs that may be forgiven enacted in
Aid, Relief, and Economic Security Act the American Rescue Plan Act (Pub. L. 1. Eligibility, Size, Affiliation Waivers,
(the CARES Act) (Pub. L. 116–136) was 117–2); confirming that First Draw PPP and Certifications
enacted to provide emergency assistance Loan applicants that are assigned a Part III.B.1. of the consolidated
and health care response for NAICS code beginning with 72 and that interim final rule implementing updates
individuals, families, and businesses employ no more than 500 employees to the PPP identifies the businesses,
affected by the coronavirus disease 2019 per physical location are eligible; and organizations, and individuals that are
(COVID–19) pandemic. Section 1102 of clarifying certain forgiveness payroll eligible for First Draw PPP Loans,
the CARES Act temporarily permitted cost exclusions in the Economic Aid including the applicable size standards.
the Small Business Administration Act. Part III.B.3. of that rule sets forth the
(SBA) to guarantee 100 percent of 7(a) II. Comments and Immediate Effective affiliation rules generally applicable to
loans under a new program titled the Date PPP loans, including the affiliation
‘‘Paycheck Protection Program,’’ waivers available to certain businesses
pursuant to section 7(a)(36) of the Small This interim final rule is being issued and organizations. The American
Business Act (15 U.S.C. 636(a)(36)) without advance notice and public Rescue Plan Act expands eligibility to
(First Draw PPP Loans). Section 1106 of comment because section 1114 of the additional businesses and organizations
the CARES Act provided for forgiveness CARES Act and section 303 of the and revises size standards and adds
of up to the full principal amount of Economic Aid Act authorize SBA to affiliation waivers for certain eligible
qualifying loans guaranteed under the issue regulations to implement the businesses and organizations.
Paycheck Protection Program (PPP). Paycheck Protection Program without The American Rescue Plan Act also
On December 27, 2020, the Economic regard to notice requirements. In revises section 324 of the Economic Aid
Aid to Hard-Hit Small Businesses, 1 86 FR 3692 (Jan. 14, 2021) (which we refer to
Act to provide that businesses that
Nonprofits and Venues Act (Economic as the ‘‘consolidated interim final rule
receive a PPP loan after December 27,
Aid Act) (Pub. L. 116–260) was enacted. implementing updates to the PPP’’); 86 FR 3712 2020 are no longer ineligible for a
jbell on DSKJLSW7X2PROD with RULES
The Economic Aid Act reauthorized (Jan. 14, 2021) (which we refer to as the ‘‘interim Shuttered Venue Operator (SVO) Grant
lending under the PPP through March final rule on second draw PPP loans’’). under certain conditions. Specifically, if
2 86 FR 8283 (Feb. 5, 2021) (which we refer to as
31, 2021. The Economic Aid Act added a PPP borrower receives a First Draw or
the ‘‘consolidated interim final rule on loan
a new temporary section 7(a)(37) to the forgiveness requirements and loan review Second Draw PPP Loan after December
Small Business Act, which authorizes procedures’’). 27, 2020, the amount of any
SBA to guarantee additional PPP loans 3 86 FR 13149 (March 8, 2021). subsequently-approved SVO grant will
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00016 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations 15085
be reduced by the amount of the First • an independent contractor, eligible self- • another type of entity specifically
Draw or Second Draw PPP Loan. (If a employed individual, or sole proprietor; provided for by PPP rules (as described
PPP borrower receives both a First Draw • a business concern, a tax-exempt below); and
nonprofit organization described in section ii. you were in operation on February 15,
and a Second Draw PPP Loan after 501(c)(3) of the Internal Revenue Code (IRC), 2020, and either had employees for whom
December 27, 2020, the amount of any a tax-exempt veterans organization described you paid salaries and payroll taxes or paid
subsequently-approved SVO grant will in section 501(c)(19) of the IRC, a Tribal independent contractors, as reported on a
be reduced by the combined amount of business concern described in section Form 1099–MISC or you were an eligible
both PPP loans.) However, because 31(b)(2)(C) of the Small Business Act, and self-employed individual, independent
sections 7(a)(36)(U) and you employ no more than the greater of 500 contractor, or sole proprietorship with no
7(a)(37)(A)(iv)(III)(ee) of the Small employees or, if applicable, the size standard employees.
in number of employees established by SBA You must submit documentation sufficient
Business Act were not amended by the
in 13 CFR 121.201; to establish eligibility and to demonstrate the
American Rescue Plan Act, if a PPP • a housing cooperative that employs no qualifying payroll amount, which may
applicant is approved for an SVO grant more than 300 employees and meets the include, as applicable, payroll records,
before SBA issues a loan number for the criteria described in subsection B.1.g.v. of the payroll tax filings, Form 1099–MISC,
PPP loan, the applicant is ineligible for consolidated interim final rule implementing Schedule C or F, income and expenses from
the PPP loan and acceptance of any PPP updates to the PPP, as amended by this a sole proprietorship, or bank records.
loan proceeds will be considered an interim final rule; * * * * *
unauthorized use. • a business concern that is assigned a The American Rescue Plan Act
North American Industry Classification
In addition, SBA is making a expands eligibility for PPP loans to tax-
System (NAICS) code beginning with 72 that
clarifying change to the list of eligible employs no more than 500 employees per exempt organizations described in any
entities for First Draw PPP Loans by physical location; paragraph of section 501(c) of the
adding businesses with a NAICS code • an eligible section 501(c)(6) organization Internal Revenue Code of 1986, except
beginning with 72 that employ no more or an eligible destination marketing for section 501(c)(4). Thus, subsections
than 500 employees per physical organization,6 that employs no more than 300 III.B.1.g.iii. and iv. of the consolidated
location. These entities are included in employees per physical location; interim final rule implementing updates
section 7(a)(36)(D)(iii) of the Small • a news organization that is majority
owned or controlled by a NAICS code 511110
to the PPP, which describe the
Business Act (15 U.S.C. or 5151 business or a nonprofit public eligibility of electric cooperatives and
636(a)(36)(D)(iii)), as amended by the broadcasting entity with a trade or business telephone cooperatives that are exempt
CARES Act, and are addressed in under NAICS 511110 or 5151, that employs from Federal income taxation under
section B.3. of the consolidated interim no more than 500 employees (or, if section 501(c)(12) of the Internal
final rule implementing updates to the applicable, the size standard in number of Revenue Code, are no longer necessary.
PPP. Because the omission of these employees established by SBA in 13 CFR For PPP loans made after the effective
entities from the list of eligible entities 121.201 for your industry) per location;
• a tax-exempt non-profit organization
date of this interim final rule, such
could cause borrower confusion, SBA is described in section 501(c)(3) of the Internal organizations will be eligible as set forth
revising subsection B.1.a. to add these Revenue Code that employs not more than in a new subsection for tax-exempt
entities. 500 employees per physical location of the organizations under any paragraph of
Therefore, Part III.B.1.a. (86 FR 3692, organization; section 501(c) of the Internal Revenue
3695) of the consolidated interim final • a tax-exempt nonprofit organization Code (other than paragraph (3), (4), (6),
rule implementing updates to the PPP is described in any paragraph of section 501(c) or (19)) discussed immediately below.
revised to read as follows: of the Internal Revenue Code of 1986, other With the new statutory change, the size
than paragraph (3), (4), (6), or (19) that
1. What businesses, organizations, and employs not more than 300 employees per eligibility requirements for electric and
individuals are eligible? physical location and meets the criteria telephone cooperatives have changed as
a. Am I eligible? 2 3 described in subsection B.1.g.iii. of the well. Previously, these entities were
You are eligible for a PPP loan if: consolidated interim final rule implementing eligible if they had no more than 500
i. You, together with any affiliates (if updates to the PPP, as amended by this employees, met the employee-based
applicable),4 are: interim final rule;
• A small business concern under the
SBA size standard for their industry (if
• a business concern or other organization higher), or met SBA’s alternative size
applicable revenue-based size standard that is assigned a NAICS code of 519130,
established by SBA in 13 CFR 121.201 for certifies in good faith as an internet-only
standard. For PPP loans made after the
your industry or under the SBA alternative news publisher or internet-only periodical effective date of this interim final rule,
size standard; 5 publisher, and is engaged in the collection these entities are eligible if they have no
and distribution of local or regional and more than 300 employees per physical
2 See interim final rule on Second Draw PPP
national news and information, that employs location, and these entities are no longer
Loans for eligibility criteria for Second Draw PPP not more than 500 employees (or the size permitted to use the employee-based
Loans, which was published separately. 86 FR 3712 standard in number of employees established
(January 14, 2021). SBA size standard for their industry or
by SBA in 13 CFR 121.201 for NAICS code
3 This subsection was originally published at 85
519130) per physical location, and meets the
SBA’s alternative size standard to
FR 20811, subsection III.2.a. (April 15, 2020), as criteria described in subsection B.1.g.iv. of determine size.
amended by 85 FR 36308 (June 16, 2020), 85 FR
the consolidated interim final rule Therefore, Part III.B.1.g. of the
36717 (June 18, 2020), and 85 FR 38301 (June 26, consolidated interim final rule
2020), and has been modified to reflect subsequent implementing updates to the PPP, as
rules or guidance, the Economic Aid Act, and the amended by this interim final rule; or implementing updates to the PPP (86 FR
American Rescue Plan Act. 3692, 3696–3697) is revised by
4 See subsection B.3 of the consolidated interim losses) for the two full fiscal years before the date replacing subsections B.1.g.iii. and iv. of
final rule implementing updates to the PPP of application is not more than $5 million. the industry-specific eligibility issues
regarding the applicability of affiliation rules at 13 6 See subsections B.1.g.vii. and B.1.g.viii for
with two new subsections to read as
jbell on DSKJLSW7X2PROD with RULES
CFR 121.103 and 121.301 to PPP loans. additional information on the eligibility of section
5 Under SBA’s alternative size standard, a 501(c)(6) organizations, and destination marketing follows:
business concern may qualify as a small business organizations. As amended by the American Rescue g. Industry-Specific Eligibility Issues
concern if it, together with any affiliates: (1) Has a Plan Act, the applicable size standard for section
maximum tangible net worth of not more than $15 501(c)(6) organizations and destination marketing * * * * *
million; and (2) the average net income after organizations is not more than 300 employees per iii. Are tax-exempt nonprofit organizations
Federal income taxes (excluding any carry-over physical location. described in any paragraph of section 501(c)
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00017 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
15086 Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations
of the Internal Revenue Code of 1986, other employees (or the size standard in number of amended by this interim final rule, is
than paragraph (3), (4), (6), or (19), eligible employees established by SBA in 13 CFR revised to read as follows:
for PPP loans? 17 121.201 for NAICS code 519130) per physical
Yes. An organization described in any location; and (5) certifies in good faith that
* * * * *
paragraph of section 501(c) of the Internal viii. Your business is an issuer, the
proceeds of the loan will be used to support
Revenue Code of 1986, other than paragraph securities of which are listed on an exchange
expenses at the component of the business
(3), (4), (6), or (19) and exempt from tax registered as a national securities exchange
concern or organization that supports local or
under section 501(a) of such Code, is eligible under section 6 of the Securities Exchange
regional news.20
for a PPP loan if: (1) The organization does Act of 1934 (15 U.S.C. 78f) 32 (SBA will not
* * * * * consider whether a news organization that is
not receive more than 15 percent of its
receipts from lobbying activities; (2) the To implement the American Rescue eligible under the conditions described in
lobbying activities of the organization do not Plan Act provision that allows subsection 1.f. and 1.g.vi. or an internet
comprise more than 15 percent of the total businesses to receive both a Shuttered publishing organization that is eligible under
activities of the organization; (3) the cost of Venue Operator (SVO) Grant and a PPP the conditions described in subsection 1.g.iv.
the lobbying activities of the organization did is affiliated with an entity, which includes
loan under certain conditions, Part
not exceed $1,000,000 during the most recent any entity that owns or controls such news
III.B.2.a.vi. of the consolidated interim organization or internet publishing
tax year of the organization that ended prior final rule implementing updates to the
to February 15, 2020; and (4) the organization organization, that is an issuer 33);
PPP (86 FR 3692, 3698) is revised to
employs not more than 300 employees.18 * * * * *
However, this does not include any
read as follows: Also, Part III.B.12.vi. of the
organization that, if the organization were a 2. What businesses, organizations, and consolidated interim final rule
business concern, would be described in 13 individuals are ineligible? implementing updates to the PPP (86 FR
CFR 120.110 (or any successor regulation or a. Could I be ineligible even if I meet the 3692, 3706) is revised to read as follows:
other related guidance or rule that may be eligibility requirements in section 1? 28
issued by SBA) other than a business concern You are ineligible for a PPP loan if, for 12. What certifications need to be made?
described in paragraph (a) or (k) of such example: On the PPP borrower application, an
section. Tax-exempt organizations described authorized representative of the applicant
* * * * * must certify in good faith to all of the below:
in section 501(c)(3), 501(c)(6) and 501(c)(19) vi. You or your business have been
of the Internal Revenue Code of 1986 have approved for a grant under the Shuttered * * * * *
separate eligibility requirements described Venue Operator (SVO) Grant Program under vi. The Applicant has not been approved
elsewhere in this rule. Tax-exempt section 324 of the Economic Aid Act. (If you for a Shuttered Venue Operator (SVO) grant
organizations described in section 501(c)(4) receive a PPP loan after December 27, 2020 from SBA as of the date of this loan
of the Internal Revenue Code of 1986 are and you are subsequently approved for an application, and the Applicant acknowledges
ineligible for a PPP loan. SVO grant, the amount of the SVO grant that if the Applicant is approved for an SVO
iv. Are internet publishing organizations received will be reduced by the amount of a grant before SBA issues a loan number for
eligible for PPP loans? 19 First Draw or Second Draw PPP Loan. If you this loan, the Applicant is ineligible for the
Yes. A business concern or other receive both a First Draw and Second Draw loan and acceptance of any loan proceeds
organization that was not eligible to receive PPP Loan after December 27, 2020 and you will be considered an unauthorized use.
a PPP loan before March 11, 2021, is eligible are subsequently approved for an SVO grant,
for a PPP loan if it: (1) Is assigned a NAICS Part III.B.3. of the consolidated
the SVO grant will be reduced by the interim final rule implementing updates
code of 519130; (2) certifies in good faith that combined amounts of both PPP loans. A PPP
it is an internet-only news publisher or to the PPP describes the affiliation rules
loan received before December 27, 2020 will
internet-only periodical publisher; (3) is not reduce the amount of the SVO grant.) 30
generally applicable to PPP loans (86 FR
engaged in the collection and distribution of 3692, 3698–3699). The American
local or regional and national news and As noted above, the American Rescue Rescue Plan Act adds affiliation waivers
information; (4) employs not more than 500 Plan Act added affiliation waivers for for certain businesses and organizations.
certain eligible organizations with Therefore, footnote 40 in part III.B.3.a.
17 This subsection was originally published at 85
respect to PPP loans. To implement the is revised to read as follows:
FR 29847, subsection III.1. (May 19, 2020) and has additional affiliation waiver applicable
been revised to conform to the American Rescue Paragraph 7(a)(36)(D)(iv) of the Small
Plan Act. Section 7(a)(36)(D)(ix) of the Small to eligible internet publishing Business Act (15 U.S.C. 636(a)(36)(D)(iv)), as
Business Act (15 U.S.C. 636(a)(36)(D)(ix)) as organizations, the parenthetical at the added by the CARES Act and amended by
amended by the American Rescue Plan Act adds end of Part III.B.2.a.viii. of the the Economic Aid Act and the American
‘‘additional covered nonprofit entities’’ to the consolidated interim final rule Rescue Plan Act, waives the affiliation rules
eligible entities for First Draw PPP Loans. The term
‘‘additional covered nonprofit entities’’ is defined implementing updates to the PPP (86 FR contained in § 121.103 for (1) any business
in section 7(a)(36)(A)(xvii) as ‘‘an organization 3692, 3698) is revised to include a concern with not more than 500 employees
described in any paragraph of section 501(c) of the reference to B.1.g.iv, which describes that, as of the date on which the loan is
Internal Revenue Code of 1986, other than the conditions under which such disbursed, is assigned a North American
paragraph (3), (4), (6), or (19), and exempt from tax Industry Classification System code
under section 501(a) of such Code; and does not internet publishing companies are
beginning with 72; (2) any business concern
include any entity that, if the entity were a business eligible. Therefore, Part III.B.2.a.viii of operating as a franchise that is assigned a
concern, would be described in section 120.110 of the consolidated interim final rule franchise identifier code by the
title 13, Code of Federal Regulations (or in any implementing updates to the PPP, as
successor regulation or other related guidance that Administration; (3) any business concern that
may be issued by the Administrator) other than a receives financial assistance from a company
business concern described in paragraph (a) or (k) 20 See section 7(a)(36)(D)(iii)(IV) of the Small
of such section.’’ Business Act as amended by the American Rescue 32 Added to conform to section 342 of the
18 For such entities with more than one physical Plan Act. Economic Aid Act, which also added the following
location, section 7(a)(36)(D)(iii)(III) of the Small 28 This subsection was originally published at 85 definitions to paragraph 7(a)(36)(A) of the Small
Business Act (15 U.S.C. 636(a)(36)(D)(iii)(III)), as FR 20811, subsection III.2.a. (April 15, 2020), and Business Act (15 U.S.C. 636(a)(36)(A)): ‘‘(xvi) the
amended by section 5001 of the American Rescue amended by 85 FR 36308 (June 16, 2020), 85 FR terms ‘exchange’, ‘issuer’, and ‘security’ have the
jbell on DSKJLSW7X2PROD with RULES
Plan Act, provides that such entities with more than 36717 (June 18, 2020), 85 FR 38301 (June 26, 2020), meanings given those terms in section 3(a) of the
one physical location are eligible if they employ not and 86 FR 13149 (March 8, 2021), and has been Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).’’
more than 300 employees per physical location. modified to conform to subsequent interim final This provision applies to loans made on or after
19 This subsection was originally published at 85 rules or guidance, the Economic Aid Act, the December 27, 2020.
FR 35550, subsection III.1. (June 11, 2020) and has American Rescue Plan Act and for readability. 33 See section 317 of the Economic Aid Act, as
been revised to conform with the American Rescue 30 This subsection has been revised to conform to amended by section 5001 of the American Rescue
Plan Act. section 5005 of the American Rescue Plan Act. Plan Act.
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00018 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations 15087
licensed under section 301 of the Small independent contractor, eligible self- of the loan will be used to support expenses
Business Investment Act of 1958 (15 U.S.C. employed individual, sole proprietor, at the component of the business concern or
681); (4)(a) any business concern (including nonprofit organization eligible for a First organization that supports local or regional
any station which broadcasts pursuant to a Draw PPP Loan, veterans organization, Tribal news.
license granted by the Federal business concern, housing cooperative, small
Communications Commission under title III agricultural cooperative, eligible 501(c)(6)
Part IV.(d) of the interim final rule on
of the Communications Act of 1934 (47 organization or destination marketing second draw PPP loans states that
U.S.C. 301 et seq.) without regard for whether organization, an eligible nonprofit news eligibility for Second Draw PPP Loans is
such a station is a concern as defined in organization, additional covered nonprofit governed by the same affiliation rules
§ 121.105 of title 13, Code of Federal entity, or eligible internet publishing (and waivers) as First Draw PPP Loans,
Regulations, or any successor thereto) that company 33 that: except as described in subsection (d)(2).
employs not more than 500 employees, or the (i) Previously received a First Draw PPP The American Rescue Plan Act revised
size standard established by the loan in accordance with the eligibility the affiliation waivers for First Draw
Administrator for the North American criteria in the Consolidated First Draw PPP
Industry Classification System code IFR (as amended); and Second Draw PPP Loans. Although
applicable to the business concern, per (ii) has used, or will use, the full amount the American Rescue Plan Act did not
physical location of such business concern of its First Draw PPP Loan (including the amend section 7(a)(37)(E)(ii) of the
and is majority owned or controlled by a amount of any increase on such First Draw Small Business Act (15 U.S.C.
business concern that is assigned a North PPP Loan) on authorized uses under 636(a)(37)(E)(ii)) to substitute ‘‘not more
American Industry Classification System subsection B.11. of the Consolidated First than 300 employees’’ for ‘‘not more than
code beginning with 511110 or 5151; or (b) Draw PPP IFR on or before the expected date 500 employees’’ in subclause (V) of
any nonprofit organization that is assigned a on which the Second Draw PPP Loan will be
North American Industry Classification disbursed;
section 7(a)(36)(D)(iv) of the Small
System code beginning with 5151; and (5) (iii) employs not more than 300 employees, Business Act (15 U.S.C.
any business concern or organization that is unless it satisfies the alternative criteria for 636(a)(36)(D)(iv)), as section
assigned a NAICS code of 519130, certifies in businesses with a North American Industry 7(a)(37)(E)(ii) does for eligible news
good faith as an internet-only news publisher Classification System (‘‘NAICS’’) code organizations, SBA is doing so here to
or internet-only periodical publisher, and is beginning with 72, eligible news harmonize the affiliation waiver for
engaged in the collection and distribution of organizations, (501)(c)(3) nonprofit internet publishing organizations with
local or regional and national news and organizations, additional covered nonprofit
information, if the business concern or entities, 501(c)(6) organizations, eligible
the 300 employees per location size
organization employs not more than 500 destination marketing organizations, and standard for Second Draw PPP Loans to
employees (or the size standard in number of eligible internet publishing organizations internet publishing organizations.
employees established by SBA in 13 CFR with more than one physical location Therefore, Part IV.(d)(2) of the interim
121.201 for NAICS code 519130) per physical described in subsection (c)(3), (c)(4), (c)(5), or final rule on second draw PPP loans (86
location, and is majority owned or controlled (c)(6) of this section; and FR 3712, 3718) is revised by adding a
by a business concern or organization that is (iv) (A) experienced a reduction in revenue new subsection (iii) to read as follows:
assigned NAICS 519130. This interim final in calendar year 2020, measured as follows:
rule has no effect on these statutory waivers, (d) How do SBA’s affiliation rules affect an
* * * * * applicant’s eligibility for a Second Draw PPP
which remain in full force and effect. As a Part IV.(c) of the interim final rule on
result, the affiliation rules contained in Loan?
second draw PPP loans (86 FR 3712,
§ 121.301 also do not apply to these types of * * * * *
entities. In addition, paragraph 7(a)(36)(D) of 3718) also is revised by adding two new (iii) Any business concern or other
the Small Business Act (15 U.S.C. subsections at the end to read as organization that was not eligible to receive
636(a)(36)(D)), as amended by section 342 of follows: a covered loan before March 11, 2021, is
the Economic Aid Act and section 5001 of (5) An entity is eligible for a Second Draw assigned a NAICS code of 519130, certifies in
the American Rescue Plan Act states that, PPP Loan if it is a 501(c)(3) nonprofit good faith as an internet-only news publisher
with respect to a business concern made organization, an additional covered nonprofit or internet-only periodical publisher, and is
eligible under paragraph 7(a)(36)(D)(iii)(II) or entity, an eligible 501(c)(6) organization, or engaged in the collection and distribution of
(IV) or 7(a)(36)(D)(iv)(IV) or (V) (certain news an eligible destination marketing local or regional and national news and
organizations and internet publishing organization and it employs not more than information, if the business concern or
organizations), the Administrator shall not 300 employees per physical location of the organization:
consider whether any affiliated entity, which entity or organization. (A) Employs not more than 300 employees,
for purposes of this subclause shall include (6) A business concern or other per physical location of the business concern
any entity that owns or controls such organization that was not eligible to receive or organization; and
business concern or organization, is an issuer a covered loan before March 11, 2021, is (B) is majority owned or controlled by a
as defined in subsection III.B.2.a.viii. eligible to receive a Second Draw PPP Loan busines concern or organization that is
Part IV.(c) of the interim final rule on for the continued provision of news, assigned a NAICS code of 519130.
second draw PPP loans sets forth who information, content, or emergency In order to implement the American
information if it is assigned a NAICS code of
is eligible for a Second Draw PPP Loan. Rescue Plan Act provision that allows
519130, certifies in good faith as an internet-
The American Rescue Plan Act only news publisher or internet-only businesses to receive both a Shuttered
amended the eligibility criteria for a periodical publisher, and is engaged in the Venue Operator (SVO) Grant and a PPP
Second Draw PPP Loan similarly to the collection and distribution of local or loan, part IV.(e)(5) of the interim final
amendments discussed above for First regional and national news and information, rule on second draw PPP loans (86 FR
Draw PPP Loans. Therefore, part and: 3712, 3719) is revised to read as follows:
IV.(c)(1) of the interim final rule on (i) The business concern or organization
employs not more than 300 employees per (e) Who is not eligible for a Second Draw
second draw PPP loans (86 FR 3712, PPP Loan?
3717) is revised to read as follows: physical location of the business concern or
organization; and An applicant is not eligible for a Second
(c) Who is eligible for a Second Draw PPP (ii) the business concern or organization Draw PPP Loan, even if it meets the
jbell on DSKJLSW7X2PROD with RULES
Loan? makes a good faith certification that proceeds eligibility requirements of subsection (c) of
Subject to subsection (e) of this section, this section, if the applicant is:
below, the following applicants are eligible 33 All terms in this subsection have the same * * * * *
for Second Draw PPP Loans: definitions as in sections 7(a)(36) and (37) of the (5) any person or entity that has been
(1) An applicant is eligible for a Second Small Business Act and the Consolidated First approved for a grant under the Shuttered
Draw PPP Loan if it is a business concern, Draw PPP IFR, as applicable. Venue Operator (SVO) Grant Program under
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00019 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
15088 Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations
section 324 of the Economic Aid Act. (If you in part III.B.14 of the consolidated procedures describes the amount
receive a PPP loan after December 27, 2020 interim final rule implementing updates eligible for loan forgiveness for
and you are subsequently approved for an to the PPP (86 FR 3692, 3706) reading individuals with self-employment
SVO grant, the amount of the SVO grant
‘‘[p]ayroll costs that are qualified wages income who file an IRS Form 1040,
received will be reduced by the amount of a
First Draw or Second Draw PPP Loan. If you taken into account in determining the Schedule C or F. The last clause of part
receive both a First Draw and Second Draw Employer Retention Credit are not IV.1.b.i (86 FR 8283, 8287) is revised to
PPP Loan after December 27, 2020 and you eligible for loan forgiveness,’’ is revised read ‘‘but excluding any qualified wages
are subsequently approved for an SVO grant, to read ‘‘The following payroll costs are taken into account in determining the
the SVO grant will be reduced by the not eligible for loan forgiveness: (a) CARES Act Employee Retention Credit,
combined amounts of both PPP loans. A PPP Qualified wages taken into account in ARP Employee Retention Credit, or the
loan received prior to December 27, 2020 will determining (i) the Employee Retention Disaster Credit or premiums for COBRA
not reduce the amount of the SVO grant.)
Credit under section 2301 of the CARES Continuation Coverage.’’
As noted above, the American Rescue Act, as amended by section 206 of the
Plan Act added affiliation waivers for 3. Additional Information
Taxpayer Certainty and Disaster Tax
certain eligible organizations with Relief Act of 2020 (Relief Act), (ii) the SBA may provide further guidance, if
respect to PPP loans. To implement the Employee Retention Credit under needed, through SBA notices that will
additional affiliation waiver applicable section 3134 of the Internal Revenue be posted on SBA’s website at
to eligible internet publishing Code, or (iii) the disaster credit under www.sba.gov. Questions on the
organizations, the parenthetical at the section 303 of the Relief Act, and (b) Paycheck Protection Program may be
end of Part IV.(e)(7) of the interim final premiums for COBRA continuation directed to the Lender Relations
rule on second draw loans (86 FR 3712, coverage taken into account in Specialist in the local SBA Field Office.
3719) is revised to include a reference determining the credit under section The local SBA Field Office may be
to Part IV.(c)(6), which describes the 6432 of the Internal Revenue Code.’’ found at https://www.sba.gov/tools/
conditions under which such internet Part IV.1 of the consolidated interim local-assistance/districtoffices.
publishing companies are eligible. final rule on loan forgiveness Compliance with Executive Orders
Therefore, Part IV.(e)(7) of the interim requirements and loan review 12866, 12988, 13132 and 13563 the
final rule on second draw loans, as procedures sets forth general Congressional Review Act, the
amended by this interim final rule, is information about loan forgiveness for Administrative Procedure Act, the
revised to read as follows: First Draw and Second Draw PPP Loans. Paperwork Reduction Act (44 U.S.C. Ch.
* * * * * The consolidated interim final rule on 35), and the Regulatory Flexibility Act (5
(7) Any issuer, the securities of which are loan forgiveness requirements and loan U.S.C. 601–612).
listed on an exchange registered as a national review procedures requires revisions to
Executive Orders 12866 and 13563
securities exchange under section 6 of the clarify certain forgiveness payroll cost
Securities Exchange Act of 1934 (15 U.S.C. exclusions under the Economic Aid Act This interim final rule is
78f), where the terms ‘‘exchange,’’ ‘‘issuer,’’ and revisions to incorporate the economically significant for the
and ‘‘security’’ have the meanings given forgiveness payroll cost exclusions purposes of Executive Orders 12866 and
those terms in section 3(a) of the Securities required by the American Rescue Plan 13563. SBA, however, is proceeding
Exchange Act of 1934 (15 U.S.C. 78c(a)) under the emergency provision at
(except that SBA will not consider whether
Act. Part IV.1.a.(1) describes the payroll
a news organization that is eligible under costs that are eligible for loan Executive Order 12866 section 6(a)(3)(D)
subsection (c)(4) or an internet publishing forgiveness and identifies those costs based on the need to move
organization that is eligible under subsection that are to be excluded. The second full expeditiously to mitigate the current
(c)(6) is affiliated with an entity, which sentence of part IV.1.a.(1), Payroll Costs economic conditions arising from the
includes any entity that owns or controls (86 FR 8283, 8286), reading ‘‘[p]ayroll COVID–19 emergency.
such news organization or internet costs that are qualified wages taken into This rule is necessary to provide
publishing organization, that is an issuer); account in determining the Employer economic relief to small businesses and
* * * * * Retention Credit are not eligible for loan nonprofit organizations nationwide
forgiveness,’’ is revised to read ‘‘The adversely impacted under the COVID–
2. Forgiveness of First Draw and Second
following payroll costs are not eligible 19 Emergency Declaration. We
Draw PPP Loans
for loan forgiveness: (a) Qualified wages anticipate that this rule will result in
Part III.B.14 of the consolidated taken into account in determining (i) the substantial benefits to small businesses,
interim final rule implementing updates Employee Retention Credit under nonprofit organizations, their
to the PPP provides general information section 2301 of the CARES Act, as employees, and the communities they
to borrowers on loan forgiveness. The amended by section 206 of the Taxpayer serve. However, we lack data to estimate
consolidated interim final rule Certainty and Disaster Tax Relief Act of the effects of this rule.
implementing updates to the PPP 2020 (Relief Act) (CARES Act Employee The Administrator of the Office of
requires a revision to clarify certain Retention Credit), (ii) the Employee Management and Budget’s Office of
forgiveness payroll cost exclusions Retention Credit under section 3134 of Information and Regulatory Affairs
included in the Economic Aid Act and the Internal Revenue Code of 1986 (ARP (OIRA) has determined that this is a
to incorporate section 3134 of the Employee Retention Credit), or (iii) the major rule for purposes of Subtitle E of
Internal Revenue Code of 1986 (Internal disaster credit under section 303 of the the Small Business Regulatory
Revenue Code) as added by section 9651 Relief Act (Disaster Credit), and (b) Enforcement and Fairness Act of 1996
of the American Rescue Plan Act. premiums for COBRA continuation (also known as the Congressional
Additionally, section 5001(c) of the coverage taken into account in Review Act or CRA) (5 U.S.C. 804(2) et
jbell on DSKJLSW7X2PROD with RULES
American Rescue Plan Act revised the determining the credit under section seq.). Under the CRA, a major rule takes
forgiveness payroll cost exclusions to 6432 of the Internal Revenue Code of effect 60 days after the rule is published
include premiums taken into account in 1986 (COBRA Continuation Coverage).’’ in the Federal Register. 5 U.S.C.
determining the credit allowed under Part IV.1.b. of the consolidated 801(a)(3).
section 6432 of the Internal Revenue interim final rule on loan forgiveness Notwithstanding this requirement, the
Code. Therefore, the fourth full sentence requirements and loan review CRA allows agencies to dispense with
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
Federal Register / Vol. 86, No. 53 / Monday, March 22, 2021 / Rules and Regulations 15089
the requirements of section 801 when Application Form for Schedule C Filers DEPARTMENT OF TRANSPORTATION
the agency for good cause finds that Using Gross Income March 3, 2021, SBA
such procedure would be impracticable, Form 2484, Lender’s Application— Federal Aviation Administration
unnecessary, or contrary to the public Paycheck Protection Program Loan
interest and the rule shall take effect at Guaranty Revised March 3, 2021, SBA 14 CFR Part 39
such time as the agency promulgating Form 2484–SD, Lender’s Application— [Docket No. FAA–2020–0971; Product
the rule determines. 5 U.S.C. 808(2). Second Draw Loan Guaranty Revised Identifier 2020–NM–083–AD; Amendment
Pursuant to section 808(2), SBA for good March 3, 2021,. SBA Forms 2483, 2483– 39–21453; AD 2021–05–10]
cause finds that a 60-day delay to C, 2483–SD, and 2483–SD–C were
provide public notice is impracticable RIN 2120–AA64
amended to include the additional
and contrary to the public interest. eligible entities (where applicable) and Airworthiness Directives; Airbus
Likewise, for the same reasons, SBA for revise the Shuttered Venue Operator Canada Limited Partnership (Type
good cause finds that there are grounds Grant Program certification due to the Certificate Previously Held by C Series
to waive the 30-day effective date delay changes made by the American Rescue Aircraft Limited Partnership (CSALP);
under the Administrative Procedure Plan Act. Other clarifying changes were Bombardier, Inc.) Airplanes
Act. 5 U.S.C. 553(d)(3). also made to the forms. Additionally,
The last day to apply for and receive conforming changes were made to SBA AGENCY: Federal Aviation
a PPP loan is March 31, 2021. Given the Forms 2484 and 2484–SD. Administration (FAA), Department of
short duration of this program, and the Transportation (DOT).
SBA has requested Office of
urgent need to issue loans quickly, SBA ACTION: Final rule.
Management and Budget (OMB)
has determined that it is impractical and
emergency approval of the revisions to
not in the public interest to provide a SUMMARY: The FAA is adopting a new
the information collections to give small
delayed effective date. An immediate airworthiness directive (AD) for certain
businesses and nonprofits affected by
effective date will give small businesses Airbus Canada Limited Partnership
this interim final rule the maximum
and nonprofit organizations affected by Model BD–500–1A10 and BD–500–
amount of time to apply for loans and
this interim final rule the maximum 1A11 airplanes. This AD was prompted
lenders the maximum amount of time to
amount of time to apply for loans and by a report that threaded fuel couplings
process applications before the program
lenders the maximum amount of time to were incorrectly installed at final
ends.
process applications before the program assembly and in service. This AD
ends. Regulatory Flexibility Act (RFA) requires repetitive functional tests of the
Executive Order 12988 auxiliary power unit (APU) fuel feed
The Regulatory Flexibility Act (RFA) line shroud, a general visual inspection
SBA has drafted this rule, to the generally requires that when an agency of the APU fuel feed line shroud for any
extent practicable, in accordance with issues a proposed rule, or a final rule loose couplings; and tightening any
the standards set forth in section 3(a) pursuant to section 553(b) of the loose couplings, which would terminate
and 3(b)(2) of Executive Order 12988, to Administrative Procedure Act or the repetitive functional tests. The FAA
minimize litigation, eliminate another law, the agency must prepare a is issuing this AD to address the unsafe
ambiguity, and reduce burden. The rule regulatory flexibility analysis that meets condition on these products.
has no preemptive or retroactive effect. the requirements of the RFA and
DATES: This AD is effective April 26,
publish such analysis in the Federal
Executive Order 13132 2021.
Register. 5 U.S.C. 603, 604.
SBA has determined that this rule The Director of the Federal Register
Rules that are exempt from notice and approved the incorporation by reference
will not have substantial direct effects
comment are also exempt from the RFA of a certain publication listed in this AD
on the States, on the relationship
requirements, including conducting a as of April 26, 2021.
between the National Government and
regulatory flexibility analysis, when ADDRESSES: For service information
the States, or on the distribution of
among other things the agency for good identified in this final rule, contact
power and responsibilities among the
cause finds that notice and public Airbus Canada Limited Partnership,
various layers of government. Therefore,
procedure are impracticable, 13100 Henri-Fabre Boulevard, Mirabel,
SBA has determined that this rule has
unnecessary, or contrary to the public Québec J7N 3C6, Canada; telephone
no federalism implications warranting
interest. SBA Office of Advocacy guide: 450–476–7676; email a220_crc@
preparation of a federalism assessment.
How to Comply with the Regulatory abc.airbus; internet http://
Paperwork Reduction Act, 44 U.S.C. Flexibility Act, Ch.1. p.9. Since this rule a220world.airbus.com. You may view
Chapter 35 is exempt from notice and comment, this service information at the FAA,
SBA has determined that this rule SBA is not required to conduct a Airworthiness Products Section,
will require revisions to existing regulatory flexibility analysis. Operational Safety Branch, 2200 South
recordkeeping or reporting requirements Authority: 15 U.S.C. 636(a)(36); 15 U.S.C. 216th St., Des Moines, WA. For
of the Paycheck Protection Program 636(a)(37); 15 U.S.C. 636m; Coronavirus Aid, information on the availability of this
(PPP) information collections (OMB Relief, and Economic Security Act, Pub. L. material at the FAA, call 206–231–3195.
Control Numbers 3245–0407 and 3245– 116–136, section 1114, Economic Aid to It is also available on the internet at
0417. The revisions will affect SBA Hard-Hit Small Businesses, Nonprofits, and
Venues Act (Pub. L. 116–260), section 303,
https://www.regulations.gov by
Form 2483, Borrower Application Form and American Rescue Plan Act of 2021, searching for and locating Docket No.
Revised March 3, 2021, SBA Form sections 5001 and 5005. FAA–2020–0971.
jbell on DSKJLSW7X2PROD with RULES
2483–C, Borrower Application Form for
Schedule C Filers Using Gross Income James Rivera, Examining the AD Docket
March 3, 2021, SBA Form 2483–SD, Acting Administrator, Small Business You may examine the AD docket on
Second Draw Borrower Application Administration. the internet at https://
Form Revised March 3, 2021, SBA Form [FR Doc. 2021–05930 Filed 3–18–21; 4:15 pm] www.regulations.gov by searching for
2483–SD–C, Second Draw Borrower BILLING CODE P and locating Docket No. FAA–2020–
VerDate Sep<11>2014 16:10 Mar 19, 2021 Jkt 253001 PO 00000 Frm 00021 Fmt 4700 Sfmt 4700 E:\FR\FM\22MRR1.SGM 22MRR1
File and source
- File
- c37.pdf
- Size
- 297,206 bytes
- SHA-256
- 3dd33b1998636c5876fe940a9000560ce0f6fb803ac13e2ee8f4f0d1db48c517
- Our copy
- c37.pdf
- Original
- www.govinfo.gov