Resources

Client Alerts, News Articles, Blog Posts, & Multimedia

Everything you need to know about BMD and the industry.

America’s New COVID-19 Relief Package — Unpacked

Client Alert

On March 11, 2021, President Biden signed the highly anticipated American Rescue Plan Act (the “Act”) into law, a $1.9 trillion COVID-19 relief bill aimed at addressing and resolving many of the lingering questions and concerns following the expiration of the Families First Coronavirus Response Act (“FFCRA”) on December 31, 2020.

Among the most notable provisions of the Act include the following:

FFCRA Tax Credit Extension | While employers are no longer mandated to provide paid sick leave to covered employees under the FFCRA, the Act grants an extension to the government tax credit previously provided to employers under the FFCRA if an employer elects to continue such paid time off to its employees. This tax credit remains available through September 2021 for employers with fewer than 500 employees. In addition, the Act now gives paid family leave for 12 weeks, instead of 10 weeks, ultimately providing an employee 14 weeks of paid leave when including the paid sick leave. Finally, the Act resets an employee’s FFCRA availability beginning on April 1, 2021. Meaning, any FFCRA time used before April 1, 2021 will not count against the employee’s leave entitlement after April 1, 2021.

COBRA Coverage | Also through September 2021, the federal government will subsidize the entirety of COBRA premiums for employees (and their covered family members) facing layoffs, ensuring health insurance coverage despite COVID unemployment concerns.

Unemployment Benefits | Prior to the passage of the Act, the weekly $300 unemployment supplement was set to expire in mid-March; however, now, these supplemental payments have been extended through September 6, 2021 — the first $10,200 of which will be tax-free for households earning up to $150,000. The Act additionally provides new protections for self-employed workers otherwise uncovered by state benefits.

Based on the changes to the FFCRA and the increased availability of vaccines, we recommend that clients consider revoking their FFCRA leave policies to avoid renewed employee eligibility for paid leave, including increased paid family leave for 12 weeks. If employers continue to provide paid leave under the FFCRA, they will remain eligible for payroll tax credits, up to the permitted maximums, for eligible leave time, through September 30, 2021.

As businesses across the country witnessed firsthand last year, federal and state legislation related to the COVID-19 pandemic is ever-evolving and requires a watchful eye to remain in the know. For more information on any of the above-provisions or for any questions related to the American Rescue Plan Act, please contact BMD Labor and Employment Partner Bryan Meek at bmeek@bmdllc.com or 330.253.5586.

Thank you to Monica Andress for her assistance drafting this Client Alert.


Community Banks: Collaboration, not isolation, is the key to protecting/ enhancing the cannabis business you pioneered

As we prepare for the plenary session of the informal institutional cannabis lenders community announced in my previous article, I am pleased to advise that participants now include 5 of the best-known dedicated loan funds; a select group of commercial banks ranging in size from single state community banks to mid-size regionals making cannabis loans into the mid-8 figures; and, a syndicator of credit union cannabis loans.

Inflation Reduction Act: Healthcare Provisions

On August 16, 2022, President Joe Biden signed into law the Inflation Reduction Act (the “Act”), a landmark climate, healthcare, and tax bill. Though the Act’s climate provisions have received most of the media attention, the healthcare aspects of the Act present some of the most significant changes to the American healthcare system since the passage of the Affordable Care Act.

The Current State of Assignment of Benefits Litigation in Florida

On May 25, 2022, Florida lawmakers approved property insurance reforms that remove attorney’s fees, with respect to assignment of benefits (“AOB”) property insurance litigation. One-way attorney’s fees are a longstanding problem in Florida and the reforms come at a time when AOB litigation increasingly affects homeowners in a negative way.

Proposed Community Revitalization Grants for Ohio Projects

Jason A. Butterworth client alert ohio tax credits historic preservation tax credits community revitalization grants

Ohio Senate Bill 225 Paves the Way for Greater Investment in Opportunity Zones and Historic Districts

Ohio Senate Bill 225 is poised to make dramatic enhancements to certain tax credit programs in Ohio, specifically those surrounding investments in “Opportunity Funds” and historic buildings. Signed into law by Governor Mike DeWine in June 2022, the Bill is positive news for real estate developers working to revitalize Ohio communities with investment and rehabilitation projects.