; and (ii) any deduction otherwise allowable under such Code for applicable payments during any taxable year shall be reduced (but not below zero) by the excess (if any) of— (I) the aggregate amounts of grants received under this section; over (II) the sum of any amount refunded under subsection (d) plus the aggregate amount of applicable payments made for all preceding taxable years. (B) Applicable payments For purposes of this paragraph, the term applicable payments means amounts paid as premium pay under subsections (b) or (f) of section 317805 and amounts paid for employer payroll taxes with respect to such amounts. (C) Aggregation rule Rules similar to the rules of subsections (a) and (b) of section 52 of the Internal Revenue Code of 1986 shall apply for purposes of this section. (3) Information reporting The Secretary of the Treasury shall submit to the Commissioner of Internal Revenue statements containing— (A) the name and tax identification number of each essential work employer receiving a grant under this section; (B) the amount of such grant; and (C) any amounts refunded under subsection (d)(3). (i) Reports (1) In general Not later than 30 days after obligating the last dollar of the funds appropriated under this part, the Secretary of the Treasury shall submit a report, to the Committees of Congress described in paragraph (2), that— (A) certifies that all funds appropriated under this part have been obligated; and (B) indicates the number of pending applications for grants under this section that will be rejected due to the lack of funds. (2) Committees of Congress The Committees of Congress described in this paragraph are— (A) the Committee on Ways and Means of the House of Representatives; (B) the Committee on Education and Labor of the House of Representatives; (C) the Committee on Finance of the Senate