; and (2) generates evidence on impact of specific projects, or groups with identical (or nearly identical) service components and protocols. (h) Rules and guidance The Secretary, in consultation with the Secretary of the Treasury and the Administrator of the Small Business Administration, shall issue any rules and guidance that are necessary to carry out this Act, including by establishing appropriate compliance and reporting requirements, in addition to the reporting requirements under subsection (e). 7. Definitions In this section: (1) Covered period The term covered period means the period beginning on May 1, 2020, and ending at the end of December 31, 2020. (2) Eligible entity The term eligible entity means— (A) a privately held business entity that— (i) employs not more than 50 full-time or full-time equivalent employees; and (ii) (I) is physically based and located in, or provides services to, a low-income community or a HUBZone; or (II) has incurred damage to real or personal property of the business entity during a covered period as a result of social and civil unrest; and (iii) has average annual receipts (as determined in accordance with section 121.104 of title 13, Code of Federal Regulations, or any successor regulation) of not more than $2,000,000; (B) an individual who operates under a sole proprietorship, an individual who operates as an independent contractor, or any eligible self-employed individual, if such an individual has incurred damage to real or personal property of their business concern during a covered period as a result of social and civil unrest; (C) a community- or worker-owned cooperative that— (i) meets the requirements of an eligible cooperative under section 105 of the National Consumer Cooperative Bank Act ( 12 U.S.C. 3015 ); (ii) employs not more than 250 full-time or full-time equivalent employees; and (iii) is based in, or provides services to, a low-income community