For those interested in the Economic Injury Disaster Loan (EIDL) (as opposed to the Paycheck Protection Loan (PPL) Program with forgiveness), the streamlined application is out. Find it here: https://covid19relief.sba.gov/#/. You will recall the EDIL offers SBA loans up to $2 million for disaster relief. $10 billion is appropriated for this program. Applicants for EIDL due to COVID-19 can get an emergency $10k grant…

  Applications Will Start April 3, 2020 The much-anticipated application for the “CARES” act Paycheck Protection Loan was issued today. You can find it here: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf Treasury also has given some important information such as; what counts as payroll costs; what may be forgiven; and that you will owe money when the loan is due if the money is used for anything other than payroll…

  President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” on March 27, 2020. This 880-page bill is divided into six separate sections. We will provide a brief overview of the separate provisions and the implications it has to businesses. TITLE I: Keeping American Workers Paid and Employed 1. Paycheck Protection Loan (PPL) Program Title I creates…

  Today's second update will discuss the 880-page federal law that was signed yesterday concerning layoffs, some government funding of small business, small business loans, unemployment insurance and other issues. This update will discuss the construction industry. As you are aware from my prior emails, Governor Cuomo’s Executive Order No. 202.6, effective March 20, 2020, implemented in-person workforce reductions to 100% for non-essential businesses. However,…

  During these unprecedented times, where the headlines and news cycles are dominated by COVID-19 and its devastating global effects, it is important to keep an eye on other developments that impact our lives. To that end, here is a list of important developments and upcoming deadlines for Long Island property owners. 1. Earlier this week, the Nassau County Legislature passed the "Reassessment Phase-In Act…

  On March 25, 2020, the Federal Department of Labor, Wage and Hour Division, which is tasked with overseeing enforcement of the Emergency Family Medical Leave and Emergency Paid Sick Leave that are part of the Families First Coronavirus Response Act (“FFCRA”) provided guidance to employers on the notice they must distribute and how these new leave laws will be enforced. As a reminder, the…

  This has been a stressful few days/weeks for everyone. As we approach, 8:00 p.m. tonight, the time Governor Cuomo set for all non-essential business employees to be sent home from the work place, I have been asked by a number of employers, 3 overriding questions: 1. Am I an Essential Business? Please see my March 20, 2020 update or click here for guidance for…

  A. Governor Cuomo of NY Institutes Mandate: 100% of New York Workforce Must Stay Home However, there are multiple exceptions to this rule including Any essential business or entity providing essential services or functions shall not be subject to the in-person restrictions. This includes essential health care operations including research and laboratory services; essential infrastructure including utilities, telecommunication, airports and transportation infrastructure; essential manufacturing,…

  The last Executive Order posted says 50%, but Governor Cuomo announced today a “mandate” that 75% of employees must work from home. Updates on the New York State Laws and Executive Orders The last Executive Order from the Governor gives some clarification to his 50% (now 75%, see above) on-site workforce reduction order. Executive Order 202.6 provides as follows: All businesses and not-for-profit entities…

  The Senate just passed the “Families First Coronavirus Response Act,” and it is now heading to President Donald J. Trump for his expected signature. For employers with less than 500 employees, this bill provides additional leave benefits for certain employees; A. Expanded Family Medical Leave Act Benefits The bill expands the leave benefits under the existing Family Medical Leave Act. The existing Family Medical…