News & Analysis as of

Loan Forgiveness New Legislation

Brownstein Hyatt Farber Schreck

Chairman Cassidy Unveils Senate HELP Committee Budget Reconciliation Bill

On Tuesday, June 10, the Senate Health, Education, Labor and Pensions (HELP) Committee released the text of its budget reconciliation bill, accompanied by a section-by-section summary and a one-pager. This release follows the...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 7, August 2023

Understanding the New Pregnant Workers Fairness Act and Full Scope of Pregnancy-Related Discrimination Laws for Schools - On June 27, 2023, the Pregnant Workers Fairness Act went into effect. This new law requires covered...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 5, May 2023

Summer is Coming: Are Youth Camps Part of Your Clery Compliance Program? “Regarding compliance and safety, many institutions have youth protection policies that camps must follow.” Why this is important: The Jeanne...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 3, March 2023

Department of Education’s New Guidance on Personal Liability Requirements Leaves Uncertainty for Institutions - On March 1, 2023, the U.S. Department of Education (“DOE”) released guidance related to the instances in which...more

Faegre Drinker Biddle & Reath LLP

Student Loan Assistance From Employers

As recently announced, President Biden has authorized forgiveness of up to $10,000 for federal student loan borrowers and $20,000 to individuals who received Pell Grants....more

Winthrop & Weinstine, P.A.

Legislative Top 5: June 11, 2021

440 Days - The Minnesota State Capitol opened its doors to the public on Thursday for the first time since closing them last March due to the pandemic. Our client, The Minnesota Association of Resources for Recovery and...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans - Update

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Revised PPP Loan Forgiveness Applications and Guidance - Update #2

Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, ‎as well as other forgiveness procedures as updated by the Economic...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two - Update

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

PPP Loans $2 Million and Up and the PPP Necessity Questionnaires

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

Consolidated Appropriations Act, 2021: Tax Update

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax...more

Perkins Coie

New COVID-19 Relief Law Includes Limited Bankruptcy Protections Regarding PPP Loans

Perkins Coie on

The latest COVID-19 relief legislation provided some additional aid and clarity for a select group of debtors and left many other questions unanswered. The requirements for the next round of the Payroll Protection Program...more

Dorsey & Whitney LLP

Round Three of the PPP - The New Stimulus Bill Amendments

Dorsey & Whitney LLP on

In an effort to achieve an agreement before the expiration of many of the CARES Act1 economic relief measures, on December 21, 2020, the U.S. Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Seyfarth Shaw LLP

How the Consolidated Appropriations Act Impacts Unemployment Compensation Benefits

Seyfarth Shaw LLP on

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, an omnibus spending bill that authorized additional funding and extended supplemental unemployment benefits created by the Coronavirus...more

Sheppard Mullin Richter & Hampton LLP

The Reauthorization and Revival of the Paycheck Protection Program and Economic Injury Disaster Loan Program under the Economic...

[Update: This article has been updated since its initial publication on December 31, 2020.] On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020, ‎as well as...more

Franczek P.C.

Congress’ Second COVID-19 Relief Bill Updates the Paycheck Protection Program

Franczek P.C. on

Last week, Congress reached a deal on a second pandemic relief package which includes the enactment of the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (Act), which has now been signed by President...more

Goulston & Storrs PC

PPP2, Real Estate, and Tax Highlights of Year-end COVID-Relief Act (The Consolidated Appropriations Act, 2021)

Goulston & Storrs PC on

The massive Consolidated Appropriations Act, 2021 (the “Act”), providing year-end COVID-19 relief, was signed into law by President Trump on Sunday, December 27, 2020. Among other changes, the Act extends and makes clarifying...more

Lowndes

The Consolidated Appropriations Act, 2021: Round 2 of the Paycheck Protection Program

Lowndes on

After days of uncertainty, the Consolidated Appropriations Act, 2021 (the “Act”) was passed by Congress on December 21, 2020, and signed into law by President Donald Trump on December 27, 2020....more

McDermott Will & Schulte

COVID Relief Bill: Key PPP Eligibility Issues Loom Large for New and Second Draw Loans

McDermott Will & Schulte on

The COVID-19 relief bill opens the door to new aid for small businesses under the Paycheck Protection Program (PPP). This is welcome news to small businesses throughout the country, but—as detailed below—there are significant...more

Bowditch & Dewey

PPP Flexibility Act of 2020

Bowditch & Dewey on

On Friday June 5, President Trump signed into law the Paycheck Protection Flexibility Act which makes the following tweaks to the original terms of the Paycheck Protection Loan Program. EXTENSION OF THE COVERED PERIOD ...more

Sullivan & Worcester

Better Late Than Never? New Law Expands Loan Forgiveness Provisions of the Paycheck Protection Program and Provides Other...

Sullivan & Worcester on

On Friday, June 5, 2020, bipartisan legislation aimed at addressing many of the issues and difficulties that have arisen with respect to the loan forgiveness provisions of the Paycheck Protection Program (PPP) became law. The...more

Jackson Walker

Paycheck Protection Program Flexibility Act Of 2020 – Amendments Affording Greater Flexibility To PPP Borrowers

Jackson Walker on

The Acts - On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, providing emergency economic stimulus to small businesses and certain eligible recipients in response to the economic distress...more

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