S.Amdt. 2542

SA 2542. Mr. CRAPO submitted an amendment intended to be proposed to
amendment SA 2499 proposed by Mr. McConnell to the bill S. 178, to
condemn gross human rights violations of ethnic Turkic Muslims in
Xinjiang, and calling for an end to arbitrary detention, torture, and
harassment of these communities inside and outside China; which was
ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. CLARIFICATION ON 13(3) FACILITIES UNDER THE CARES
ACT.

Section 4003(c)(1)(A) of the CARES Act (15 U.S.C.
9042(c)(1)(A)) is amended by adding ``In making loans, loan
guarantees, and other investments under subsection (b)(4),
the Secretary shall prioritize the provision of credit and
liquidity to assist eligible businesses, States and
municipalities, even if the Secretary estimates that such
loans, loan guarantees, or investments may incur losses.''
after the period at the end.

SEC. __. EXTENSIONS OF TEMPORARY RELIEF AND EMERGENCY
AUTHORITIES.

(a) In General.--Title IV of the CARES Act (Public Law 116-
136) is amended--
(1) in section 4012(b)(2)(B) (15 U.S.C. 9050(b)(2)(B)), by
striking ``2020'' and inserting ``2021''; and
(2) in section 4016(b)(2), by striking ``2020'' and
inserting ``2021''.
(b) Temporary Credit Union Provisions.--Section
307(a)(4)(A) of the Federal Credit Union Act (12 U.S.C.
1795f(a)(4)(A)) is amended by striking ``December 31, 2020''
and inserting ``December 31, 2021''.

SEC. __. EXTENSION OF TEMPORARY RELIEF FROM TROUBLED DEBT
RESTRUCTURINGS AND INSURER CLARIFICATION.

Section 4013 of the CARES Act (15 U.S.C. 9051) is amended--
(1) by inserting ``, including an insurance company,''
after ``institution'' each place the term appears;
(2) in subsection (a)(1), by striking ``December 31, 2020''
and inserting ``January 1, 2022''; and
(3) in subsection (d)(1), by inserting ``, including
insurance companies,'' after ``institutions''.

SEC. __. EXTENSION OF TEMPORARY OPTIONAL TEMPORARY RELIEF
FROM CURRENT EXPECTED CREDIT LOSSES AND
APPLICATION TO PERSONS.

Section 4014 of the CARES Act (15 U.S.C. 9052(b)) is
amended--
(1) in subsection (b)--
(A) in the matter preceding paragraph (1), by striking
``insured depository institution, bank holding company, or
any affiliate thereof'' and inserting ``person'';
(B) in paragraph (1), by inserting ``the first day of the
fiscal year of the person that begins after'' before ``the
date''; and
(C) in paragraph (2), by striking ``December 31, 2020'' and
inserting with ``January 1, 2023''; and
(2) by striking ``(a) Definitions'' and all that follows
through ``Standards''.

SEC. __. TEMPORARY AUTHORITY ON LEVERAGE AND RISK-BASED
CAPITAL REQUIREMENTS.

Section 171 of the Financial Stability Act of 2010 (12
U.S.C. 5371) is amended by adding at the end the following:
``(d) Temporary Authority.--
``(1) Definition.--In this subsection, the term
`appropriate Federal banking agency'--
``(A) has the meaning given the term in section 2; and
``(B) means the Board of Governors, in the case of a
nonbank financial company supervised by the Board of
Governors.
``(2) Temporary authority.--
``(A) In general.--Notwithstanding any other provision of
this section or any other law or regulation, if any
appropriate Federal banking agency determines that unusual
and exigent circumstances exist or are otherwise imminent,
the appropriate Federal banking agency shall have the
authority, by rule or order, to make such temporary
adjustments

[[Page S4857]]

to the method of calculating the generally applicable
leverage capital requirements or other leverage requirement
of an insured depository institution, a depository
institution holding company, or a nonbank financial company
supervised by the Board of Governors for purposes of
compliance with this section as the appropriate Federal
banking agency determines necessary to address or avoid a
severe economic stress situation.
``(B) Duration.--
``(i) In general.--Except as provided in clause (ii), any
temporary adjustment made under subparagraph (A) shall be for
a period of not longer than 12 months after the date on which
the determination is made under subparagraph (A).
``(ii) Additional periods.--A temporary adjustment made
under subparagraph (A) may be extended for a period of not
longer than 180 days after the date on which the period
described in clause (i) expires to permit institutions and
companies to return to compliance with the generally
applicable leverage capital requirements or other leverage
requirements, if the appropriate Federal banking agency
determines such an extension is necessary.''.

SEC. __. HEALTHCARE OPERATING LOSS LOANS.

(a) Definitions.--In this section:
(1) Operating loss.--The term ``operating loss'' has the
meaning given the term in section 223(d) of the National
Housing Act (12 U.S.C. 1715n(d)).
(2) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Authorization to Provide Mortgage Insurance.--
Notwithstanding any other provision of law, for fiscal years
2020 and 2021, in addition to the authority provided to
insure operating loss loans under section 223(d) of the
National Housing Act (12 U.S.C. 1715n(d)), the Secretary may
insure or enter into commitments to ensure mortgages under
such section 223(d) with respect to healthcare facilities--
(1) insured under section 232 or section 242 of the
National Housing Act (12 U.S.C. 1715w, 1715z-7);
(2) that were financially sound immediately prior to the
President's March 13, 2020 Proclamation on Declaring a
National Emergency Concerning the Novel Coronavirus Disease
(COVID-19) Outbreak;
(3) that have exhausted all other forms of assistance; and
(4) subject to--
(A) the limitation for new commitments to guarantee loans
insured under the General and Special Risk Insurance Funds
under the heading ``General and Special Risk Program
Account'' for fiscal years 2020 and 2021; and
(B) the underwriting parameters and other terms and
conditions that the Secretary determines appropriate through
guidance.
(c) Amount of Loan.--After all other realized or reasonably
anticipated assistance (including reimbursements, loans, or
other payments from other Federal sources) are taken into
account, a loan insured under subsection (b) shall be in an
amount not exceeding the lesser of--
(1) the temporary losses or additional expenses incurred or
expected to be incurred by the healthcare facility as a
result of the impact of the circumstances giving rise to the
President's March 13, 2020 Proclamation on Declaring a
National Emergency Concerning the Novel Coronavirus Disease
(COVID-19) Outbreak; or
(2) the amount expected to be needed to cover the sum of--
(A) 1 year of principal and interest payments for the
existing loans of the healthcare facility insured by the
Secretary;
(B) 1 year of principal and interest payments for the loan
pursuant to this section;
(C) 1 year of mortgage insurance premiums for the loans
described in subparagraphs (A) and (B);
(D) 1 year of monthly deposits to reserve accounts required
by the Secretary for the loans described in subparagraphs (A)
and (B);
(E) 1 year of property taxes and insurance for the
healthcare facility; and
(F) transaction costs, including legal fees, for the loans
described in subparagraphs (A) and (B).
______