1. Short title This Act may be cited as the Saving Our Street Act . 2. Grants to small businesses (a) Definition In this section: (1) Covered period The term covered period means the period beginning on February 15, 2020 and ending on December 31, 2020. (2) Eligible entity The term eligible entity — (A) means an entity that— (i) is— (I) a community small business, including a self-employed worker, independent contractor, or sole proprietor, or a community nonprofit with less than— (aa) $1,000,000 in gross revenue; (bb) $500,000 in gross receipts for nonprofits; or (cc) 10 employees; or (II) a small business with— (aa) less than 20 employees in a low-income community; and (bb) not less than 50 percent of employees who live in a low-income community; and (ii) has suffered a drop in revenue of over 20 percent of gross revenue since February 15, 2020; and (B) does not include entities that are publicly traded companies, private equity firms, or hedge funds. (3) Employee The term employee includes— (A) individuals employed on a full-time, part-time, or other basis; (B) independent contractors; (C) any individual in a jurisdiction subject to a stay-at-home order, even if the employee has not physically returned to work. (4) Low-income community The term low-income community means a census tract (or equivalent geographic area defined by the United States Census Bureau) in which at least 50 percent of households have an income less than 60 percent of the area median gross income, as determined by the Secretary of Housing and Urban Development. (5) Payroll costs The term payroll costs means— (A) the sum of payments of any compensation that is a— (i) salary, wage, commission, or similar compensation; (ii) payment of cash tip or equivalent; (iii) payment for vacation, parental, family, medical, or sick leave; (iv) allowance for dismissal or separation; (v) payment required for the provisions of group health care benefits, including insurance premiums; (vi) payment of any retirement benefit