S.Amdt. 5043
What it does: Adds SEC. 502. OFFSET OF COSTS USING UNOBLIGATED FUNDS FROM THE AMERICAN RESCUE PLAN ACT OF 2021 at the end of title V
Sen. Ron Johnson (R-WI)What it changes
1 change to S. 4008 · shown in the bill's text
Adds SEC. 502. OFFSET OF COSTS USING UNOBLIGATED FUNDS FROM THE AMERICAN RESCUE PLAN ACT OF 2021 at the end of title V
Adds a sectionIn S. 4008 · Placed on Calendar Senate
(b) CARES Act.--Of the unexpended balances remaining from amounts made available under the heading "Small Business Administration-- Business Loans Program Account, CARES Act" in section 1107(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (15 U.S.C. 9006(a)(1)) $1,904,000,000 shall be returned to the Treasury.
Inserted: SEC. 502. OFFSET OF COSTS USING UNOBLIGATED FUNDS FROM THE AMERICAN RESCUE PLAN ACT OF 2021.
Inserted: Effective on the date of enactment of this Act, of the unobligated balances made available under the American Rescue Plan Act of 2021 (Public Law 117-2; 135 Stat. 4), or an amendment made by such Act, there is rescinded, on a pro rata basis, the amount necessary to reduce the total amount of such unobligated balances by an amount equal to the total amount appropriated or otherwise made available by this Act and the amendments made by this Act.
Original wording
At the end of title V, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 5043. Mr. JOHNSON (for himself and Mr. Hagerty) submitted an amendment intended to be proposed by him to the bill S. 4008, to provide COVID relief for restaurants, gyms, minor league sports teams, border businesses, live venue service providers, exclave businesses, and providers of transportation services; which was ordered to lie on the table; as follows:
At the end of title V, add the following:
SEC. 502. OFFSET OF COSTS USING UNOBLIGATED FUNDS FROM THE AMERICAN RESCUE PLAN ACT OF 2021.
Effective on the date of enactment of this Act, of the unobligated balances made available under the American Rescue Plan Act of 2021 (Public Law 117-2; 135 Stat. 4), or an amendment made by such Act, there is rescinded, on a pro rata basis, the amount necessary to reduce the total amount of such unobligated balances by an amount equal to the total amount appropriated or otherwise made available by this Act and the amendments made by this Act.
Legislative Activity
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Senate amendment submitted
May 19, 2022