I 116TH CONGRESS 2D SESSION H. R. 6366 To permit, due to the COVID–19 emergency, Federal financial regulators to allow for the temporary waiver of requirements that a State, territory, or local government provide matching or cost-sharing funds before receiv- ing a grant from a Federal financial regulator, to allow for certain reprogramming of funds to support unemployment, childcare, and healthcare programs, and for other purposes. IN THE HOUSE OF REPRESENTATIVES MARCH 23, 2020 Mr. SAN NICOLAS introduced the following bill; which was referred to the Committee on Financial Services A BILL To permit, due to the COVID–19 emergency, Federal finan- cial regulators to allow for the temporary waiver of re- quirements that a State, territory, or local government provide matching or cost-sharing funds before receiving a grant from a Federal financial regulator, to allow for certain reprogramming of funds to support unemploy- ment, childcare, and healthcare programs, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 23:23 Apr 09, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6366.IH H6366 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 6366 IH SECTION 1. TEMPORARY WAIVER AND REPROGRAMMING 1 AUTHORITY. 2 (a) WAIVER AUTHORITY.— 3 (1) IN GENERAL.—With respect to a covered 4 grant awarded to a State, territory, or local govern- 5 ment by a Federal financial regulator, the Federal 6 financial regulator may, upon request, waive any 7 matching or cost-sharing requirements with respect 8 to such grant until January 1, 2023. 9 (2) REQUIREMENTS FOR WAIVER RECIPI- 10 ENTS.—A State, territory, or local government 11 granted a waiver with respect to a grant under sub- 12 section (a) shall waive any matching or cost-sharing 13 requirements that such government imposes on sub- 14 grantees on such grant until January 1, 2023. 15 (b) REPROGRAMMING AUTHORITY.— 16 (1) IN GENERAL.—With respect to a covered 17 grant awarded to a State, territory, or local govern- 18 ment by a Federal financial regulator, the Federal 19 financial regulator may, upon request, permit the 20 State, territory, or local government to reprogram 21 awarded grant funds for purposes related to unem- 22 ployment, childcare, and healthcare, if the majority 23 of normally funded activities under such grant are 24 not in areas related to unemployment, childcare, and 25 healthcare. 26 VerDate Sep 11 2014 23:23 Apr 09, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H6366.IH H6366 pamtmann on DSKBC07HB2PROD with BILLS 3 •HR 6366 IH (2) CONSIDERATION FOR FUTURE GRANTS.— 1 Any grantee (or sub-grantee) with respect to which 2 a Federal financial regulator allows to reprogram 3 funds under paragraph (1) shall be given priority by 4 such Federal financial regulator for future awards of 5 the type reprogrammed. 6 (c) DEFINITIONS.—In this section: 7 (1) COVERED GRANTS.—The term ‘‘covered 8 award’’ means a grant— 9 (A) that was awarded to a State, territory, 10 or local government before the date of enact- 11 ment of this Act and under which the State, 12 territory, or local government may still receive 13 additional grant amounts; or 14 (B) with respect to which the period of 15 performance does not expire before January 1, 16 2023. 17 (2) FEDERAL FINANCIAL REGULATOR.—The 18 term ‘‘Federal financial regulator’’ means the Board 19 of Governors of the Federal Reserve System, the 20 Bureau of Consumer Financial Protection, the De- 21 partment of Housing and Urban Development, the 22 Department of the Treasury (other than the Inter- 23 nal Revenue Service), the Federal Deposit Insurance 24 Corporation, the Office of the Comptroller of the 25 VerDate Sep 11 2014 23:23 Apr 09, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H6366.IH H6366 pamtmann on DSKBC07HB2PROD with BILLS 4 •HR 6366 IH Currency, the National Credit Union Administra- 1 tion, and the Securities and Exchange Commission. 2 Æ VerDate Sep 11 2014 23:23 Apr 09, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\H6366.IH H6366 pamtmann on DSKBC07HB2PROD with BILLS