Legislation

Federal

Federal Legislation

• There have been multiple bills introduced to help address the COVID-19 financial crisis.
• Phase I: Coronavirus Preparedness and Response Supplemental Appropriations Act (H.R. 6074 / Public Law No: 116-123)
  • U.S. Chamber Letter on H.R. 6074
• Phase II: The Families First Corona Virus Response Act  (HR 6201) signed by the president on March 19, addresses many issues pertinent to employers and employees including paid sick leave.
  • U.S. Chamber analysis.
  • Families First Coronavirus Response Act: Questions and Answers
  • Families First Coronavirus Response Act: Employer Paid Leave Requirements
• Phase III: CARES Act. (S.3548)
  • Senator McConnell’s Summary
  • U.S. Chamber information on how businesses can benefit from the CARES Act

• Phase IV
  H.R.266 - Paycheck Protection Program and Health Care Enhancement Act

  • Bill Summary
  • $310 billion increase (total of $659 billion) for Paycheck Protection Program

    • Sets aside the following amounts:

    o $30 billion for loans made by Insured Depository Institutions and Credit Unions that have assets between $10 billion and $50 billion; and

    o $30 billion for loans made by Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10 billion

    • No changes to eligibility for the PPP (No c(6) fix) 

     

    $10 billion increase (total of $20 billion) for EIDL Grants and an additional $50 billion to support EIDL Loans

    • Allows agricultural enterprises as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)) with not more than 500 employees to receive EIDL grants and loans

     

    $75 billion increase (total of $175 billion) for reimbursement to hospitals and healthcare providers

    • Same language as the CARES Act

     

    $25 billion for COVID-19 tests

    • Covers expenses to research, develop, validate, manufacture, purchase, administer, and expand capacity

    • $11 billion for states and localities and includes ability to cover cost of testing for employers

    • $1 billion for CDC for contact tracing

• Economic Injury Disaster Loan Program
  • Legislation passed 4/23 provided additional funding to the EIDL ($50B) and EIDL advance ($10B) programs. In addition, it relaxed eligibility requirements so agricultural businesses including businesses engaged in the legal production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)) are eligible for the EIDL and EIDL advance. These businesses would still need to meet the criteria of having 500 or fewer employees.
  • The portal is now open for ag businesses to apply a this site. Any assistance you can provide is getting the word out is greatly appreciated.
  • Note: Only agricultural businesses are eligible to apply at this time. Non-agricultural businesses who make application at this time will have their applications returned. 

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