; (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; or (vii) payment of State or local tax assessed on the compensation of employees or owners; (B) the sum of payments of any compensation to or income of a sole proprietor or independent contractor— (i) that is a wage, commission, income, net earnings from self-employment, or similar compensation; and (ii) in an amount that is not more than $100,000 in 1 year, as prorated for the covered period; (C) the compensation of an individual employee in excess of an annual salary of $100,000, as prorated for the covered period