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Congress Passes Another Round of Coronavirus Relief for Small Businesses

Client Alert
April 24, 2020

Today President Trump signed into law another round of coronavirus relief aimed at helping small businesses during this public health emergency. The bill contains a total of $484 billion in additional aid. The majority of funds in this bill are dedicated to replenishing the Paycheck Protection Program (“PPP”), which gives small businesses loans to cover payroll costs that could be forgiven if specific requirements are followed. Congress initially funded the PPP in March with $350 billion, but this amount was exhausted as of April 16, 2020.

Most notably, the new legislation adds $310 billion to the PPP. Of these funds, $2.1 billion are earmarked for salaries and expenses to administer programs related to the coronavirus, $50 billion will go towards the Economic Injury Disaster Loan (“EIDL”) program, and $10 billion is set aside for Emergency EIDL grants/advances.

Further, the bill provides $100 billion to the Department of Health and Human Services for the Public Health and Social Services Emergency Fund. These funds include $75 billion to reimburse health care providers for health care related expenses (e.g., building/construction of temporary structures, leasing of properties, medical supplies, equipment, increased workforce and training, and surge capacity) or lost revenues that are attributable to the coronavirus. This relief is available for Medicare/Medicaid enrolled providers, including physician practices and hospitals that are diagnosing, treating, and caring for actual/potential coronavirus patients and the method of dispersal will be announced soon. The other $25 billion is set for expenses to research, develop, and manufacture coronavirus tests and increase the country’s testing capacity. Increased testing dollars are spread amongst the states, the Centers for Disease Control and Prevention, the National Institutes of Health, the Food and Drug Administration, Community Health Centers, Rural Health Centers, and testing for the uninsured.

Please contact a BMD attorney should you have any additional questions regarding this new economic stimulus bill, questions on how to take advantage or apply for these programs, or general questions related to the coronavirus and its economic impact.

coronavirus reliefsmall businessespublic health emergencyPPPpaycheck protection programpayrollEconomic Injury Disaster LoanEIDLEmergency EIDL grants/advancesDepartment of Health and Human ServicesHHSPublic Health and Social Services Emergency Fund
Client Alert

New NIL Opportunities for Student-Athletes Require Diligent Review

July 8, 2021On June 28, 2021, Governor Mike DeWine signed Executive Order 2021-10D, “Establishing the Duties of Colleges and Universities as to Name, Image, and Likeness Compensation of Student-Athletes.” The Executive Order was motivated by the passage of similar name, image, and likeness (“NIL”) regulations in seventeen (17) other states; Ohio followed suit to avoid a significant competitive disadvantage in attracting student-athletes to the state.Client Alert

Tax Savings Potentially on the Chopping Block under President Biden’s American Jobs Plan and American Families Plan

June 18, 2021Recently, President Biden has proposed several tax law changes in his American Jobs Plan and American Families Plan. Outlined below, are a few of the tax savings that could be significantly changed or eliminated under Biden’s plans.Client Alert

Here are the Final Candidates for Mayor of Cleveland

June 17, 2021Earlier this year, current Cleveland Mayor, Frank Jackson, announced he would not run for re-election this fall. With no need to beat an incumbent, the Cleveland mayoral race suddenly became competitive. Thirteen individuals declared their intent to run for mayor. The City of Cleveland, however, has a difficult qualification requirement to run: 3,000 valid signatures from Cleveland residents. The deadline to file a petition to run, with the 3,000 valid signatures, had to be submitted by June 16 (yesterday).Client Alert

What Happens to a Pandemic Stimulus Payment Upon Death?

June 14, 2021On January 1, 2021, the federal government issued stimulus payments (also known as Economic Impact Payments) to American citizens – on paper. However, many of the stimulus payments were not received until several months later. Sometimes the stimulus payments did not arrive until after an individual died.Client Alert

The Masks Are Back: New OSHA Regulations for Healthcare Employers

June 11, 2021Employment Law After Hours is back with a News Break Episode. Yesterday, OSHA published new rules for healthcare facilities, including hospitals, home health employers, nursing homes, ambulance companies, and assisted living facilities. These new rules are very cumbersome, requiring mask wearing for all employees, even those that are vaccinated. The only exception is for fully vaccinated employees (2 weeks post final dose) who are in a "well-defined" area where there is no reasonable expectation that any person with suspected or confirmed COVID-19 will be present.
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