- Allocates $10 Billion to make payments to entities that have not received the full amount to which they are entitled to under the Consolidated Appropriations Act of 2021.
- Allocates $5 Billion to make payments to covered entities that have suffered an economic loss of greater than 50% and employ no more than 10 employees. This advance would be for $5,000 and could be in additional to the maximum of the $10,000 already received.
- Amounts received from the SBA in the form of a targeted EIDL advance shall not be included in the gross income of the person that received the advance.
- No deductions shall be denied, no tax attribute shale be reduced, and no basis increase shall be denied by reason of exclusion from gross income.
- Any amount excluded from income shall be treated as tax-exempt income for Partnerships and S Corporations.