On March 30, 2021, President Biden signed the PPP Extension Act of 2021 into law extending the Paycheck Protection Program from March 31, 2021 to June 30, 2021. However, the SBA may not accept new lender applications for first draw or second draw ppp loans submitted after May 31. It should be noted that Monday, May 31, is Memorial Day (the last business day before the application is Friday, March 28). The SBA will then have until June 30 to process and approve applications submitted by the application deadline.
Public bodies and chief administrative officers are encouraged to consult with local counsel regarding authority to declare a local state of emergency or disaster and conducting public meetings under OMA and the various public health orders.
Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the Bankruptcy Code before the pandemic. This article highlights some of these changes and their impact on the rights of lenders, trade creditors, suppliers, landlords, tenants, and debtors.
Whether the obligation that the construction works contract imposes on the contractor is classed as divisible or not has fundamental implications for the legal situation of the parties.
A new bill greatly limits use of criminal background checks in employment decisions and requires employers to obtain an “equal pay certificate” or face enormous penalties. Together, the provisions pose risks of substantial liability for any business that employs individuals within Illinois.
Many Michigan Public School Academies (PSAs) experience periodic operating cash-flow shortfalls during a school year, which often make it necessary for these schools to borrow on a short-term basis to cover the shortfalls.
In summary, the ARPA provides a tax-free 100% subsidy of COBRA premiums for assistance eligible individuals ("AEI") from April 1, 2021 through September 30, 2021 (the "Subsidy Period"). During the Subsidy Period, COBRA premiums for AEIs will generally be paid by the federal government to employers or plan administrators through credits against Medicare taxes.
ARPA provides a total of $350 billion in assistance to states, counties, municipalities, territories and tribal governments to cover expenses, make up for lost revenue and ease the overall economic impact from the COVID-19 pandemic.
Changes of expanding coverage and lowering insurance premiums for mandatory auto insurance have been widely welcomed by consumers; however, the new premium pricing rules have resulted in some commercial auto insurance products being withdrawn from the market.
