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New PPP Flexibility Act further modifies key program features

from Church Law & Tax

New PPP Flexibility Act further modifies key program features Church Law & Tax On June 3, 2020, the Senate passed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020 (the Flexibility Act). This bipartisan bill passed in the House by a vote of 417-1 and in the Senate by a unanimous voice vote, and then was signed into law on June 5, 2020, by President Trump. What does this mean for churches that received a Paycheck Protection Program (PPP) loan? This article reviews eight major changes to be aware of. READ MORE

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