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PPP Forgiveness Changes Coming as Senate Passes House Bill

The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation Wednesday night, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans.

The bill passed in a unanimous voice vote hours after Wisconsin Sen. Ron Johnson initially blocked it. Among the key provisions is a change in the threshold for the amount of PPP funds required to be spent on payroll costs to qualify for forgiveness to 60% of the loan amount. 

The Senate approval sends the House bill, called the Paycheck Protection Flexibility Act, to President Donald Trump, who is expected to sign it.

The vote had to be unanimous because the Senate is not officially in session. That meant that any senator could force the matter to be delayed until the Senate returned to Washington with enough members for a quorum and a vote.

MACC News Spring Vol. 2

MACC News Spring Vol. 2

On behalf of everyone at Metropolitan Air Conditioning Contractors of New York (MACC), I hope that you and your family are staying well during these difficult and uncertain times.

We would like you to know that MACC is here for you! MACC strives to be a valuable resource for members and the industry, and our Board of Directors and Staff have been working hard to ensure we continue to be a resource during this pandemic.
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ASHRAE Publishes Updated Legionella Guideline

ASHRAE has published an updated guideline to assist in control of legionellosis associated with building water systems.

Click here to continue reading this article.

New York Forward Business Reopening Lookup Tool

This tool will help you determine whether or not your business is eligible to reopen, and the public health and safety standards with which your business must comply. Click here for more information.

MACC News Spring 2020 Vol 2Latest Newsletter
MACC News Spring 2020 Vol 2
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