IBA COVID-19 Updates 7-28-20
COVID-19 UPDATES
Senate Stimulus Plan Includes PPP Reforms
Senate Republicans have released initial proposals for the next round of stimulus legislation that include several industry advocated provisions.
The HEALS Act (Health, Economic Assistance, Liability Protection and Schools Act) includes Paycheck Protection Program reforms including safe harbor protection for PPP lenders, automatic forgiveness for loans under $150,000 with borrower attestation, and a streamlined forgiveness process for loans between $150,000 and $2 million.
The legislative package – introduced by...