may prescribe) to have this section not apply to such wages. (2) Coordination with paycheck protection program The Secretary, in consultation with the Administrator of the Small Business Administration, shall issue guidance providing that payroll costs paid or incurred during the covered period shall not fail to be treated as qualified wages under this section by reason of an election under paragraph (1) to the extent that a covered loan of the eligible employer is not forgiven by reason of a decision under section 1106(g). Terms used in the preceding sentence which are also used in section 1106 shall have the same meaning as when used in such section. . (2) Conforming amendments (A) Section 2301 of the CARES Act ( Public Law 116–136 ) is amended by striking subsection (j). (B) Section 2301(l) of the CARES Act ( Public Law 116–136 ) is amended by striking paragraph (3) and by redesignating paragraphs (4) and (5) as paragraphs (3) and (4), respectively. (c) Effective date The amendments made by this section shall take effect as if included in the provisions of the CARES Act ( Public Law 116–136 ) to which they relate. 90006. Allowable uses of covered loans