Governor Hogan’s Update & The Paycheck Protection Flexibility Act

Governor Hogan Announces Completion of Stage 1 of Recovery:

At yesterday’s press conference, Governor Hogan announced resumption of outdoor activities, including outdoor dining at restaurants, bars and social/fraternal clubs;  opening of outdoor pools, youth sports, and day camps, drive-in movie theatres, and tour boats, effective Friday, May 29th at 5:00 pm. Read the Governor’s order here.

Guidance and best practices for restaurants

Guidance and best practices for youth sports.

MD Department of Health directives for youth camps.

MD Department of Health directives for swimming pools.

Governor Hogan noted that health officials will continue to watch the data closely, and if these encouraging trends continue into next week, the state will then be in a position to move into Stage Two of the recovery, which would mean lifting the order on non-essential businesses.

Paycheck Protection Flexibility Act Progresses:

Today the U.S. House of Representatives plans to vote on the Paycheck Protection Flexibility Act (H.R. 6886). The bill would modify sections of the Paycheck Protection Program (PPP), extending loan forgiveness for expenses for up to 24 weeks and removing the limitation that restricts non-payroll expenses (rent, utilities) to 25% of the loan, among other changes.

 

Similar Senate legislation would also extend the window for the money to be spent. S. 3833 would double the loan forgiveness period to 16 weeks, and allow businesses to use the loan funds for investments to reopen safely.  It would also extend the program through December 2020.

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