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April 06, 2020 State & Local Government Law

CARES Act Information

On March 31, GAO created a resource page of information on the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136) signed by the President on March 27. Contents include:

  • A Washington Letter article on the CARES Act highlighting ten of the most significant provisions to ABA members and our advocacy efforts.
  • A summary of the Paycheck Protection Program written and updated as needed by an ABA full firm member as a reference for small and midsize law firms or state bar associations with less than 500 members who may be interested in the program. Also included are FAQs and a one pager written by the Senate Small Business and Entrepreneurship Committee on the same program.
  • FAQs written by the Senate Banking Committee on the Employee Retention Credit included in the Act as a reference for businesses who may have experienced a significant decline (i.e., 50 percent) in gross receipts during the period from March 13, 2020 through December 31, 2020.