• Authorizes $100 billion in long-term, low-cost loans to recovery sector businesses, which include seasonal businesses and businesses located in low-income census tracts that meet the applicable SBA revenue size standard, have no more than 500 employees, and demonstrate at least a 50 percent reduction in gross revenues. • Loan amount is up to $10 million. • Loans terms include a 100% SBA guarantee and maturity of up to 20 years with a one percent fixed interest rate to the borrower. Allowable loan uses include working capital, acquisition of fixed assets, and refinancing existing indebtedness. Small Business Investment Company Program • CreatesaSmallBusinessGrowthandDomesticProductionInvestmentFacilitythat provides for $10 billion in long-term debt with equity features to registered SBA Small Business Investment Companies (SBICs) that invest in small businesses with significant revenue losses from COVID-19, manufacturing startups in the domestic supply chain, and low- income communities. Safely Back to School and Back to Work Act Strategic National Stockpile • Requires the Secretary of HHS to establish clear guidance for Indian Tribes on accessing the Strategic National Stockpile. Education & Child Care • One half of 1 percent of the Department of Education’s Emergency Education Freedom Grant fund for eligible organizations that serve students attending elementary schools or secondary schools operated or funded by the Bureau of Indian Education. • Authorizes the Secretary of Education to waive certain requirements under the Every Student Succeeds Act for BIE funded schools for current student support and academic enrichment grants. • Authorizes short-term assistance through FY 2021 for Indian Tribes or tribal organizations, through the Administration of Children and Families, to help childcare providers reopen and stay open. Restoring Critical Supply Chains and Intellectual Property Act • Prevents the Secretary of the Department of Health and Human Services from purchasing foreign manufactured personal protective equipment (PPE) and additional medical items. • Eligible U.S. manufacturers can receive a 30% credit against cost associated with PPE manufacturing. There is a $7.5 billion limit to the total tax credit. • Creates the Federal Research Security Council in the Office of Management and Budget to standardize federal research and development grants. The Council must engage with the United States Research Community. o The United States Research Community includes “research and development centers of States, United States Territories, Indian tribes, and municipalities.” • Criminalizes federal grant application fraud.
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