; and (2) in the case of an eligible recipient that did not accept the full amount of a covered loan, such eligible recipient may request a modification to increase the amount of the covered loan to the maximum amount applicable, subject to the requirements of such section 7(a)(36). 218. Treatment of certain criminal violations (a) In general Section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ), as amended by section 101, is further amended by adding at the end the following new subparagraph: (U) Treatment of certain criminal violations (i) Financial fraud or deception A entity that is a business, organization, cooperative, or enterprise may not receive a covered loan if an owner of 20 percent or more of the equity of such entity, during the 5-year period preceding the date on which such entity applies for a covered loan, has been convicted of a felony of financial fraud or deception under Federal, State, or Tribal law. (ii) Arrests or convictions An entity that is a business, organization, cooperative, or enterprise shall be an eligible recipient notwithstanding a prior arrest or conviction under Federal, State, or Tribal law of an owner of 20 percent or more of the equity of such entity, unless such owner is currently incarcerated. (iii) Waiver The Administrator may waive the requirements of clause (i). . (b) Rulemaking Not later than 15 days after the date of enactment of this Act, the Administrator shall make necessary revisions to any rules to carry out the amendment made by this section. III Tax Provisions 301. Improved coordination between paycheck protection program and employee retention tax credit (a) Amendment to paycheck protection program Section 1106(a)(8) of the CARES Act ( 15 U.S.C. 9005(a)(8) ) is amended by inserting , except that such costs shall not include qualified wages taken into account in determining the credit allowed under section 2301 of this Act before the period at the end. (b) Amendments to employee retention tax credit (1) In general Section 2301(g) of the CARES Act