1. Short title This Act may be cited as the Local News and Emergency Information Act of 2020 . 2. Amendments to the Paycheck Protection Program Section 7(a)(36)(D) of the Small Business Act ( 15 U.S.C. 636(a)(36)(D) ) is amended— (1) in clause (iii)— (A) by striking business concern that employs and inserting the following: business concern that— (I) employs ; (B) in subclause (I), by striking the period at the end and inserting ; or ; and (C) by adding at the end the following: (II) is assigned a North American Industry Classification System code beginning with 511110, 515112, or 515120 at the time of disbursal shall be eligible to receive a covered loan for business expenses of the business concern that are associated with an individual physical location of that business concern, provided that— (aa) the proceeds of the loan are used to support expenses associated with the continued provision of local news, information, content, or emergency information; and (bb) at the time of disbursal, the individual physical location does not exceed the size standard established by the Administrator for the applicable code. ; (2) in clause (iv)— (A) in subclause (II), by striking and at the end; (B) in subclause (III), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (IV) an individual physical location of a business concern that, as of the date on which the covered loan is disbursed, is assigned a North American Industry Classification System code beginning with 511110, 515112, or 515120 and does not exceed the size standard established by the Administrator for the applicable code, provided that, as a condition of the waiver under this subclause, the business concern shall not pay, distribute, or otherwise provide the covered loan or any portion of the covered loan to any other entity other than the individual physical location that is the intended recipient of the covered loan.