MAY 6, 2020 On April 3, 2020, banks, credit unions, and community lenders throughout the U.S. started to accept applications from businesses for the new Small Business Administration lending facility, the Paycheck Protection Program, created by the CARES Act. Aimed at providing immediate relief to small and mid-sized businesses across the country in response to COVID-19, the program was extremely popular and the initial $349 billion appropriation by Congress to fund the program soon ran out. O ...
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OSHA Requirements and Enforcement Guidelines in the Face of COVID-19
OSHA requires that employers provide a workplace free from recognized hazards that may cause injury or death to employees. These requirements apply to all businesses, with very few limited exceptions. The COVID-19 crisis has displaced certain requirements and, where applicable, OSHA has relaxed certain enforcement measures. This article shall address OSHA’s activity on these subjects to date. The OSHA COVID-19 webpage can be accessed at https://www.osha.gov/SLTC/covid-19/. Enforcement discreti ...
North Central CT Chamber | Positioning Your Business For Success When Connecticut Re-Opens Its Economy
THURSDAY - May 7, 2020 | 4:00 p.m. via ZOOM Webinar This webinar will focus on practical considerations for getting back to business, including: Employment Law – Return to Work Issues/Making Your Business Safety Compliant Navigating The Intersection of SBA and CARES ACT Relief Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program Government Relief – Relief Certificatio ...
Business Expense Deductions and Paycheck Protection Program Loan Forgiveness
On April 30, 2020, the Internal Revenue Service issued Notice 2020-32 which provides guidance regarding the deductibility for Federal income tax purposes of certain otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer receives a loan pursuant to the Paycheck Protection Program (“PPP”) as authorized by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Specifically, Notice 2020-32 clarifies that no deduction is allowed under the Intern ...
Windham Region Chamber | Positioning Your Business For Success When Connecticut Re-Opens Its Economy
Tuesday - May 12, 2020 | 11:30 a.m. via ZOOM Webinar This webinar will focus on practical considerations for getting back to business, including: Employment Law – Return to Work Issues/Making Your Business Safety Compliant Navigating The Intersection of SBA and CARES ACT Relief Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program Government Relief – Relief Certificati ...
UKS COVID-19 – Executive Order 7CC
On April 21, 2020, Governor Ned Lamont issued Executive Order 7CC which speaks to the applicability of Executive Order 7S. Order 7S, Section 7 provided that a municipality’s legislative body and budget-making authority has authority to approve certain financial transactions, expenditures, or decisions, without in-person approval of residents or taxpayers. Order 7CC, Section 1 clarifies Order 7S, Section 7, by stating that the following actions may also be authorized by a majority vote withou ...
THE INTERSECTION OF THE NEW CHAPTER 11- SUBCHAPTER V AND COVID-19
There is a connection between the two. . . In 2019, without yet being aware of the soon to arrive Coronavirus pandemic, the United States Congress amended Chapter 11 of the Bankruptcy Code in order to make the bankruptcy reorganization “tool” more expedient, accessible, efficient and practical. The Small Business Reorganization Act (SBRA) became effective on February 19, 2020. That effective date of this “new and improved” small business bankruptcy reorganization law was quickly followed by ...
HHS Advisory Opinion Regarding Immunity Under PREP Act for COVID-19 Countermeasures
In response to the COVID-19 pandemic and the resulting medical-supply shortage, the Secretary of Health and Human Services (“HHS”) published a Declaration under the Public Readiness and Emergency Preparedness (“PREP”) Act immunizing entities from liability related to the manufacture, testing, development, distribution, and use of certain drugs, biologics and devices used to diagnose and/or treat COVID-19. The purpose of the PREP Act is to allow companies and individuals to quickly respond to t ...
Millions in Funding to be Made Available for the State of Connecticut’s Brownfield Program
On March 13, 2020, Governor Lamont signed House Bill 5518. This is the first bill signed by Governor Lamont of the 2020 Regular Session. House Bill 5518 is a bipartisan bond package that includes $30 million and $17 million for fiscal years 2020 and 2021, respectively, allocated to the Department of Economic and Community Development (“DECD”). Grants and loans will be provided by the State’s brownfield program for the assessment and remediation of contaminated properties. Pending approval fro ...
Update to COVID-19’s Effect on Commercial Litigation
1. Landlord–Tenant: Evictions and Foreclosures On April 23, 2020, the Connecticut state judicial branch ordered an immediate stay of the service of all issued executions on evictions and ejectments through June 1, 2020, which extends the previous stay order by one month. The judicial branch also ordered that all foreclosure sales scheduled for June and through July 18, 2020 are cancelled in order to prevent a potential gathering of individuals at the auction site. The court, on its own, open ...