29842 Federal Register / Vol. 85, No. 97 / Tuesday, May 19, 2020 / Rules and Regulations

§ 217.301 [Amended] its place ‘‘twenty-five percent of its adopted CECL may use the transition
■ 4. Amend § 217.301 by: modified AACL transitional amount’’; provision in this paragraph (d) if it has
■ a. In paragraphs (b)(1) and (d) ■ g. In paragraph (d)(2)(ii) introductory a positive modified CECL transitional
introductory, remove ‘‘U.S. GAAP’’ and text, add ‘‘or Category III’’ after the amount during any quarter ending in
add in its place ‘‘GAAP’’; and phrase ‘‘An advanced approaches’’, 2020 and makes the election in the Call
■ b. In paragraph (c)(2) introductory remove the phrase ‘‘for the fiscal year Report filed for the same quarter.
text, add ‘‘or Category III’’ after the that begins during the 2020 calendar * * * * *
phrase ‘‘an advanced approaches’’ and year’’ and add in its place ‘‘during
2020’’, and add ‘‘its applicable’’ after the Brian Brooks,
‘‘its applicable’’ after the words ‘‘its
calculation of’’; words ‘‘its calculation of’’; and First Deputy Comptroller, Comptroller of the
■ c. In paragraph (d)(2)(i) introductory ■ h. In paragraph (d)(2)(ii)(A), remove Currency.
text, remove the phrase ‘‘in a first’’ and the phrase ‘‘fifty percent of its CECL Board of Governors of the Federal Reserve
add in its place ‘‘in its first’’; and transitional amount’’ and add in its System.
■ d. In paragraph (d)(2)(ii) introductory place the phrase ‘‘fifty percent of its Ann Misback,
text, add ‘‘or Category III’’ after the modified CECL transitional amount’’ Secretary of the Board.
phrase ‘‘An advanced approaches’’ and and remove the phrase ‘‘twenty-five
percent of its CECL transitional Federal Deposit Insurance Corporation.
‘‘its applicable’’ after the words ‘‘its
amount’’ and add in its place ‘‘twenty- Dated at Washington, DC, on April 13,
calculation of’’. 2020.
five percent of its modified CECL
Federal Deposit Insurance Corporation transitional amount’’. Robert E. Feldman,
12 CFR Chapter III The revisions read as follows: Executive Secretary.
[FR Doc. 2020–08789 Filed 5–18–20; 8:45 am]
Authority and Issuance § 324.301 Current expected credit losses
(CECL) transition. BILLING CODE 4810–33–P 6210–01–P; 6714–01–P
For the reasons set forth in the joint
preamble, chapter III of title 12 of the * * * * *
(b) * * *
Code of Federal Regulations is amended SMALL BUSINESS ADMINISTRATION
(1) Transition period means the three-
as follows:
year period, beginning the first day of
the fiscal year in which an FDIC- 13 CFR Part 120
PART 324—CAPITAL ADEQUACY OF
FDIC-SUPERVISED INSTITUTIONS supervised institution adopts CECL and [Docket Number SBA–2020–2028]
reflects CECL in its first Call Report
■ 5. The authority citation for part 324 filed after that date; or, for the 2020 RIN 3245–AH42
continues to read as follows: transition under paragraph (d) of this
section, the five-year period beginning Business Loan Program Temporary
Authority: 12 U.S.C. 1815(a), 1815(b), Changes; Paycheck Protection
1816, 1818(a), 1818(b), 1818(c), 1818(t), on the earlier of the date an FDIC-
supervised institution was required to Program—Loan Increases
1819(Tenth), 1828(c), 1828(d), 1828(i),
1828(n), 1828(o), 1831o, 1835, 3907, 3909, adopt CECL for accounting purposes AGENCY: U. S. Small Business
4808; 5371; 5412; Pub. L. 102–233, 105 Stat. under GAAP (as in effect on January 1, Administration.
1761, 1789, 1790 (12 U.S.C. 1831n note); Pub. 2020), or the first day of the quarter in ACTION: Interim final rule.
L. 102–242, 105 Stat. 2236, 2355, as amended which the FDIC-supervised institution
by Pub. L. 103–325, 108 Stat. 2160, 2233 (12 files regulatory reports that include SUMMARY: On April 2, 2020, the U.S.
U.S.C. 1828 note); Pub. L. 102–242, 105 Stat.
CECL. Small Business Administration (SBA)
2236, 2386, as amended by Pub. L. 102–550,
106 Stat. 3672, 4089 (12 U.S.C. 1828 note); * * * * * posted an interim final rule announcing
Pub. L. 111–203, 124 Stat. 1376, 1887 (15 (d) Calculation of the five-year CECL the implementation of the Coronavirus
U.S.C. 78o–7 note); Pub. L. 115–174; Pub. L. transition provision. An FDIC- Aid, Relief, and Economic Security Act
116–136, 134 Stat. 281. supervised institution that was required (CARES Act). The CARES Act
■ 6. Amend § 324.301 as follows: to adopt CECL for accounting purposes temporarily adds a new program, titled
■ a. Revise paragraph (b)(1); under GAAP (as in effect January 1, the ‘‘Paycheck Protection Program,’’ to
■ b. In paragraph (b)(2), remove the 2020) as of the first day of a fiscal year the SBA’s 7(a) Loan Program. The
phrase ‘‘FDIC-supervised’s adoption’’ that begins during the 2020 calendar CARES Act also provides for forgiveness
and add in its place ‘‘FDIC-supervised year, and that makes the election of up to the full principal amount of
institution’s adoption’’; described in paragraph (a)(1) of this qualifying loans guaranteed under the
■ c. In paragraph (c)(2) introductory section, may use the transitional Paycheck Protection Program (PPP). The
text, add ‘‘or Category III’’ after the amounts and modified transitional PPP is intended to provide economic
phrase ‘‘an advanced approaches’’ and amounts in paragraph (d)(1) of this relief to small businesses nationwide
‘‘its applicable’’ after the words ‘‘its section with the 2020 CECL transition adversely impacted by the Coronavirus
calculation of’’; calculation in paragraph (d)(2) of this Disease 2019 (COVID–19). SBA posted
■ d. Revise paragraph (d) introductory section to adjust its calculation of additional interim final rules on April 3,
text; regulatory capital ratios during each 2020, April 14, 2020, April 24, 2020,
■ e. In paragraph (d)(2)(i) introductory quarter of the transition period in which April 28, 2020, April 30, 2020, May 5,
text, remove the phrase ‘‘in its a’’ and an FDIC-supervised institution uses 2020, and May 8, 2020, and the
add in its place ‘‘in its first’’; CECL for purposes of its Call Report. An Department of the Treasury posted an
■ f. In paragraph (d)(2)(i)(C), remove the FDIC supervised-institution that did not additional interim final rule on April
phrase ‘‘fifty percent of its AACL make the election described in 28, 2020. This interim final rule
transitional amount’’ and add in its paragraph (a)(1) of this section because supplements the previously posted
place ‘‘fifty percent of its modified it did not record a reduction in retained interim final rules by providing
AACL transitional amount’’ and remove earnings due to the adoption of CECL as guidance on the ability to increase
the phrase ‘‘twenty-five percent of its of the beginning of the fiscal year in certain PPP loans, and requests public
AACL transitional amount’’ and add in which the FDIC-supervised institution comment.

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Federal Register / Vol. 85, No. 97 / Tuesday, May 19, 2020 / Rules and Regulations 29843

DATES: assistance and health care response for implementation of this program.
Effective date: This rule is effective individuals, families, and businesses Although this interim final rule is
May 19, 2020. affected by the coronavirus pandemic. effective immediately, comments are
Applicability date: This interim final The Small Business Administration solicited from interested members of the
rule applies to applications submitted (SBA) received funding and authority public on all aspects of the interim final
under the Paycheck Protection Program through the CARES Act to modify rule, including section III below. These
through June 30, 2020, or until funds existing loan programs and establish a comments must be submitted on or
made available for this purpose are new loan program to assist small before June 18, 2020. SBA will consider
exhausted. businesses nationwide adversely these comments and the need for
Comment date: Comments must be impacted by the COVID–19 emergency. making any revisions as a result of these
received on or before June 18, 2020. Section 1102 of the CARES Act comments.
ADDRESSES: You may submit comments, temporarily permits SBA to guarantee
100 percent of 7(a) loans under a new III. Paycheck Protection Program
identified by number SBA–2020–2028
program titled the ‘‘Paycheck Protection Requirements for Loan Increases
through the Federal eRulemaking Portal:
http://www.regulations.gov. Follow the Program.’’ Section 1106 of the CARES Overview
instructions for submitting comments. Act provides for forgiveness of up to the
The CARES Act was enacted to
SBA will post all comments on full principal amount of qualifying
provide immediate assistance to
www.regulations.gov. If you wish to loans guaranteed under the Paycheck
individuals, families, and organizations
submit confidential business Protection Program (PPP). On April 24,
affected by the COVID–19 emergency.
information (CBI) as defined in the User 2020, the President signed the Paycheck
Among the provisions contained in the
Notice at www.regulations.gov, please Protection Program and Health Care
CARES Act are provisions authorizing
send an email to ppp-ifr@sba.gov. Enhancement Act (Pub. L. 116–139),
SBA to temporarily guarantee loans
Highlight the information that you which provided additional funding and
authority for the PPP. under the PPP. Loans under the PPP
consider to be CBI and explain why you will be 100 percent guaranteed by SBA,
believe SBA should hold this II. Comments and Immediate Effective and the full principal amount of the
information as confidential. SBA will Date loans and any accrued interest may
review the information and make the qualify for loan forgiveness. Additional
The intent of the Act is that SBA
final determination whether it will information about the PPP is available
provide relief to America’s small
publish the information. in interim final rules published by SBA
businesses expeditiously. This intent,
FOR FURTHER INFORMATION CONTACT: A along with the dramatic decrease in and the Department of the Treasury in
Call Center Representative at 833–572– economic activity nationwide, provides the Federal Register (85 FR 20811, 85
0502, or the local SBA Field Office; the good cause for SBA to dispense with the FR 20817, 85 FR 21747, 85 FR 23450,
list of offices can be found at https:// 30-day delayed effective date provided 85 FR 23917, 85 FR 26321, 85 FR 26324,
www.sba.gov/tools/local-assistance/ in the Administrative Procedure Act. 85 FR 27287), and an additional SBA
districtoffices. Specifically, it is critical to meet interim final rule entitled ‘‘Business
SUPPLEMENTARY INFORMATION: lenders’ and borrowers’ need for clarity Loan Program Temporary Changes;
concerning program requirements as Paycheck Protection Program—
I. Background Information
rapidly as possible because the last day Requirements—Extension of Limited
On March 13, 2020, President Trump eligible borrowers can apply for and Safe Harbor with Respect to
declared the ongoing Coronavirus receive a loan is June 30, 2020. Certification Concerning Need for PPP
Disease 2019 (COVID–19) pandemic of This interim final rule supplements Loan Request,’’ which SBA posted on
sufficient severity and magnitude to previous regulations and guidance on an May 8, 2020, and is published
warrant an emergency declaration for all important, discrete issue. The elsewhere in this issue of the Federal
States, territories, and the District of immediate effective date of this interim Register (collectively, the PPP Interim
Columbia. With the COVID–19 final rule will benefit lenders so that Final Rules).
emergency, many small businesses they can swiftly close and disburse On April 14, 2020, SBA posted an
nationwide are experiencing economic loans to small businesses. This interim interim final rule that, among other
hardship as a direct result of the final rule is effective without advance things, provided guidance for
Federal, State, tribal, and local public notice and public comment because individuals with self-employment
health measures that are being taken to section 1114 of the Act authorizes SBA income (85 FR 21747). The interim final
minimize the public’s exposure to the to issue regulations to implement Title rule stated, ‘‘if you are a partner in a
virus. These measures, some of which I of the Act without regard to notice partnership, you may not submit a
are government-mandated, are being requirements. In addition, SBA has separate PPP loan application for
implemented nationwide and include determined that there is good cause for yourself as a self-employed individual.
the closures of restaurants, bars, and dispensing with advance public notice Instead, the self-employment income of
gyms. In addition, based on the advice and comment on the ground that it general active partners may be reported
of public health officials, other would be contrary to the public interest. as a payroll cost, up to $100,000
measures, such as keeping a safe Specifically, SBA has determined that annualized, on a PPP loan application
distance from others or stay-at-home advance public notice and comment filed by or on behalf of the partnership.’’
orders, are being implemented, resulting would delay the ability of certain On April 28, 2020, the Department of
in a dramatic decrease in economic businesses to obtain increases in their the Treasury posted an interim final rule
activity as the public limits activity at PPP loan amounts in order to ensure that provided an alternative criterion for
malls, retail stores, and other they obtain the maximum amount that calculating the maximum loan amount
businesses. they are eligible for under current for PPP loans issued to seasonal
On March 27, 2020, the President guidance (guidance that was not employers (85 FR 23917).
signed the Coronavirus Aid, Relief, and available at the time their PPP loans Some PPP loans were approved to
Economic Security Act (the CARES Act) were approved). This rule is being partnerships or seasonal employers
(Pub. L. 116–136) to provide emergency issued to allow for immediate before the additional guidance was

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29844 Federal Register / Vol. 85, No. 97 / Tuesday, May 19, 2020 / Rules and Regulations

issued and, as a result, those businesses can the increased loan amount exceed Yes. Notwithstanding the requirement
may not have received PPP loans in the the maximum loan amount allowed set forth in paragraph 1.a. of the interim
maximum amount for which they are under the PPP Program, which is $10 final rule on disbursements posted on
eligible. This interim final rule million for an individual borrower or April 28, 2020, i.e., that lenders make a
authorizes all PPP lenders to increase $20 million for a corporate group. one-time, full disbursement of the PPP
existing PPP loans to partnerships or Additionally, the borrower must loan within ten calendar days of loan
seasonal employers to include provide the lender with required approval, if a PPP loan is increased
appropriate amounts to cover partner documentation to support the under paragraphs 1.a. or b. above, the
compensation in accordance with the calculation of the increase. lender may make a single additional
interim final rule posted on April 14, The interim final rule posted on April disbursement of the increased loan
2020, or to permit the seasonal 14, 2020, describes how partnerships, proceeds prior to submission of the
employer to calculate its maximum loan rather than individual partners are initial SBA Form 1502 report for that
amount using the alternative criterion eligible for a PPP loan. The interim final loan.
posted on April 28, 2020. rule further explained that the self- b. How do lenders report
In addition, although the interim final employment income of general active disbursements on PPP loans that are
rule on disbursements posted on April partners could be reported as a payroll increased and does the increase in the
28, 2020, requires PPP loans to be cost, up to $100,000 annualized, on a loan delay the timeframe to report the
disbursed in a single disbursement, if a PPP loan application filed by or on loan on the SBA Form 1502?
PPP loan that is increased has already behalf of the partnership. Guidance SBA set forth in the interim final rule
been disbursed, this interim final rule describing how to calculate partnership on disbursements and 1502 reporting
authorizes the lender to make an PPP loan amounts and defining the self- posted on April 28, 2020, the process
additional disbursement of the employment income of partners was lenders must follow to electronically
increased loan proceeds prior to posted on April 24, 2020 (see How to upload SBA Form 1502 information on
submission of the initial SBA Form Calculate Maximum Loan Amounts, PPP loans. The interim final rule
1502 that includes that loan. SBA Form Question 4 at https://www.sba.gov/sites/ provided that lenders must submit the
1502 is required to be submitted within default/files/2020-04/How-to-Calculate- SBA Form 1502 information within 20
20 calendar days after a PPP loan is Loan-Amounts.pdf). calendar days after a PPP loan is
approved or, for loans approved before approved or, for loans approved before
b. If a seasonal employer received a
availability of the updated SBA Form availability of the updated SBA Form
PPP loan before the alternative criterion
1502 reporting process, by May 22, 1502 reporting process, by May 18,
for determining the maximum loan
2020.1 2020. In its interim final rule posted on
amount for seasonal employers became
1. Loan Increases available, can the loan amount be May 8, 2020, SBA revised that date from
a. If a partnership received a PPP loan increased based on a revised calculation May 18, 2020 to May 22, 2020. Lenders
that did not include any compensation using the alternative criterion? must comply with the initial 1502
for its partners, can the loan amount be Yes. If a seasonal employer received reporting deadline. SBA may review at
increased to include partner a PPP loan before the alternative any time an increase submitted by the
compensation? criterion for such employers was posted lender to confirm that the increase was
Yes. If a partnership received a PPP on April 28, 2020, and would be eligible submitted within the required
loan that only included amounts for a higher maximum loan amount timeframe; increases submitted outside
necessary for payroll costs of the under the alternative criterion, the the required timeframe will not be
partnership’s employees and other lender may electronically submit a forgiven and no processing fee will be
eligible operating expenses, but did not request through SBA’s E-Tran Servicing earned on such amounts. Additionally,
include any amount for partner site to increase the PPP loan amount, lenders are not entitled to processing
compensation,2 the lender may even if the loan has been fully fees on increases submitted outside of
electronically submit a request through disbursed, provided that the lender’s the required timeframe.
SBA’s E-Tran Servicing site to increase first SBA Form 1502 report to SBA on 3. Additional Information
the PPP loan amount to include the PPP loan has not been submitted.
After the initial SBA Form 1502 report SBA may provide further guidance, if
appropriate partner compensation, even
has been submitted to SBA, or after the needed, through SBA notices that will
if the loan has been fully disbursed,
date the initial SBA Form 1502 report be posted on SBA’s website at
provided that the lender’s first SBA
was required to be submitted to SBA, www.sba.gov. Questions on the
Form 1502 report to SBA on the PPP
the loan cannot be increased. In no Paycheck Protection Program may be
loan has not been submitted. After the
event can the increased loan amount directed to the Lender Relations
initial SBA Form 1502 report on the PPP
exceed the maximum loan amount Specialist in the local SBA Field Office.
loan has been submitted to SBA, or after
allowed under the PPP Program, which The local SBA Field Office may be
the date the first SBA Form 1502 was
is $10 million for an individual found at https://www.sba.gov/tools/
required to be submitted to SBA, the
borrower or $20 million for a corporate local-assistance/districtoffices.
loan cannot be increased. In no event
group. Additionally, the borrower must Compliance With Executive Orders
1 SBA extended the deadline for submission of provide the lender with required 12866, 12988, 13132, 13563, and 13771,
the initial SBA Form 1502 for such loans from May documentation to support the the Paperwork Reduction Act (44 U.S.C.
18, 2020 to May 22, 2020, in its interim final rule calculation of the increase.
posted on May 8, 2020. Ch. 35), and the Regulatory Flexibility
2 As set forth in the interim final rule posted on
2. Disbursements and 1502 Reporting on Act (5 U.S.C. 601–612)
April 14, 2020, a partner in a partnership may not Increased PPP Loans
submit a separate PPP loan application as a self-
Executive Orders 12866, 13563, and
employed individual. Instead, the self-employment a. If a borrower’s PPP loan has 13771
income of general active partners may be reported
as a payroll cost, up to $100,000 annualized, on a
already been fully disbursed, can the This interim final rule is
PPP loan application filed by or on behalf of the lender make an additional disbursement economically significant for the
partnership. for the increased loan proceeds? purposes of Executive Orders 12866 and

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Federal Register / Vol. 85, No. 97 / Tuesday, May 19, 2020 / Rules and Regulations 29845

13563, and is considered a major rule small entities. The requirement to Protection Program was established
under the Congressional Review Act. conduct a regulatory impact analysis under the Coronavirus Aid, Relief, and
SBA, however, is proceeding under the does not apply if the head of the agency Economic Security Act (CARES Act or
emergency provision at Executive Order ‘‘certifies that the rule will not, if the Act). This interim final rule revises
12866 Section 6(a)(3)(D) based on the promulgated, have a significant the interim final rule posted on April
need to move expeditiously to mitigate economic impact on a substantial 24, 2020, by extending the date by
the current economic conditions arising number of small entities.’’ 5 U.S.C. which certain Paycheck Protection
from the COVID–19 emergency. This 605(b). The agency must, however, Program borrowers may repay their
rule’s designation under Executive publish the certification in the Federal loans from May 7, 2020 to May 14, 2020,
Order 13771 will be informed by public Register at the time of publication of the in order to avail themselves of a safe
comment. rule, ‘‘along with a statement providing harbor with respect to a certification
the factual basis for such certification.’’ required by the Act, and makes other
Executive Order 12988
If the agency head has not waived the conforming changes. This interim final
SBA has drafted this rule, to the requirements for a regulatory flexibility rule supplements SBA’s implementation
extent practicable, in accordance with analysis in accordance with the RFA’s of the Act and requests public comment.
the standards set forth in section 3(a) waiver provision, and no other RFA DATES:
and 3(b)(2) of Executive Order 12988, to exception applies, the agency must Effective date: This rule is effective
minimize litigation, eliminate prepare the regulatory flexibility May 19, 2020.
ambiguity, and reduce burden. The rule analysis and publish it in the Federal Applicability date: This interim final
has no preemptive or retroactive effect. Register at the time of promulgation or, rule applies to borrowers who applied
Executive Order 13132 if the rule is promulgated in response to for loans under the Paycheck Protection
an emergency that makes timely Program.
SBA has determined that this rule compliance impracticable, within 180 Comment date: Comments must be
will not have substantial direct effects days of publication of the final rule. 5 received on or before June 18, 2020.
on the States, on the relationship U.S.C. 604(a), 608(b). Rules that are ADDRESSES: You may submit comments,
between the National Government and exempt from notice and comment are identified by number SBA–2020–0026
the States, or on the distribution of also exempt from the RFA requirements, through the Federal eRulemaking Portal:
power and responsibilities among the including conducting a regulatory http://www.regulations.gov. Follow the
various layers of government. Therefore, flexibility analysis, when among other instructions for submitting comments.
SBA has determined that this rule has things the agency for good cause finds SBA will post all comments on
no federalism implications warranting that notice and public procedure are www.regulations.gov. If you wish to
preparation of a federalism assessment. impracticable, unnecessary, or contrary submit confidential business
Paperwork Reduction Act, 44 U.S.C. to the public interest. SBA Office of information (CBI) as defined in the User
Chapter 35 Advocacy guide: How to Comply with Notice at www.regulations.gov, please
the Regulatory Flexibility Act, Ch.1. p.9. send an email to ppp-ifr@sba.gov.
SBA has determined that this rule
Accordingly, SBA is not required to Highlight the information that you
will not impose new or modify existing
conduct a regulatory flexibility analysis. consider to be CBI and explain why you
recordkeeping or reporting requirements
under the Paperwork Reduction Act. believe SBA should hold this
Jovita Carranza,
information as confidential. SBA will
Regulatory Flexibility Act (RFA) Administrator.
review the information and make the
[FR Doc. 2020–10658 Filed 5–18–20; 8:45 am]
The Regulatory Flexibility Act (RFA) final determination whether it will
BILLING CODE P publish the information.
generally requires that when an agency
issues a proposed rule, or a final rule FOR FURTHER INFORMATION CONTACT: A
pursuant to section 553(b) of the APA or SMALL BUSINESS ADMINISTRATION Call Center Representative at 833–572–
another law, the agency must prepare a 0502, or the local SBA Field Office; the
regulatory flexibility analysis that meets 13 CFR Part 120 list of offices can be found at https://
the requirements of the RFA and www.sba.gov/tools/local-assistance/
[Docket Number SBA–2020–0026] districtoffices.
publish such analysis in the Federal
Register. 5 U.S.C. 603, 604. Specifically, RIN 3245–AH41 SUPPLEMENTARY INFORMATION:
the RFA normally requires agencies to
describe the impact of a rulemaking on Business Loan Program Temporary I. Background Information
small entities by providing a regulatory Changes; Paycheck Protection On March 13, 2020, President Trump
impact analysis. Such analysis must Program—Requirements—Extension declared the ongoing Coronavirus
address the consideration of regulatory of Limited Safe Harbor With Respect to Disease 2019 (COVID–19) pandemic of
options that would lessen the economic Certification Concerning Need for PPP sufficient severity and magnitude to
effect of the rule on small entities. The Loan Request warrant an emergency declaration for all
RFA defines a ‘‘small entity’’ as (1) a AGENCY: U.S. Small Business States, territories, and the District of
proprietary firm meeting the size Administration. Columbia. With the COVID–19
standards of the Small Business ACTION: Interim final rule. emergency, many small businesses
Administration (SBA); (2) a nonprofit nationwide are experiencing economic
organization that is not dominant in its SUMMARY: On April 24, 2020, the U.S. hardship as a direct result of the
field; or (3) a small government Small Business Administration (SBA) Federal, State, tribal, and local public
jurisdiction with a population of less posted an interim final rule relating to health measures that are being taken to
than 50,000. 5 U.S.C. 601(3)–(6). Except promissory notes, authorizations, minimize the public’s exposure to the
for such small government jurisdictions, affiliation, and eligibility in connection virus. These measures, some of which
neither State nor local governments are with the implementation of a temporary are government-mandated, are being
‘‘small entities.’’ Similarly, for purposes new program, titled the ‘‘Paycheck implemented nationwide and include
of the RFA, individual persons are not Protection Program.’’ The Paycheck the closures of restaurants, bars, and

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