These regulations are promulgated pursuant to the authority of Sections 1102, 1103 and 1106 of Title 3 of the Delaware Code. 365 0 obj <>stream An additional $310 billion was allocated under the Enhancement Act. On April 24, 2020, the President signed the Paycheck Protection Program and Health Care Enhancement Act (Pub. 1102. Paycheck Protection Program (PPP) - CARES Act Section 1102 & Small Business Administration (Economic Injury Disaster Loan) March 30, 2020 - The $2.2 trillion coronavirus stimulus bill was enacted by Congress on March 27, 2020. Sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). No employer shall make, adopt, or enforce any rule, regulation, or policy: (a) Forbidding or preventing employees from engaging or participating in politics or from becoming candidates for public office. 359 0 obj <>/Filter/FlateDecode/ID[<9956CA9BBF440E4692535ADB3FAF0A47><054EDA1C4BA072459F8D6C6B9BF2FF42>]/Index[343 23]/Info 342 0 R/Length 81/Prev 153384/Root 344 0 R/Size 366/Type/XRef/W[1 2 1]>>stream Secondary (emergency) roof drain systems shall be sized in accordance with Section 1106 based on the rainfall rate for which the primary system is sized. CARES ACT, SECTIONS 1102 AND 1106 PAYCHECK PROTECTION PROGRAM (Note: The Interim Final Rule further refine these requirements)s SEC. 636(a) ) is. There is no prepayment penalty on the loan. Hospital participation in Small Business Administration (SBA) programs is typically limited by revenue. Below is my initial review of the law, which has not been interpreted by the SBA or the courts. CARES ACT, SECTIONS 1102 AND 1106. 90. ) Hospital participation 3. 2.0 Purpose 2.1 Spotted Lanternfly, Lycorma delicatula, is a new pest to the United States and has been detected in Delaware. Section 1102 of the Act temporarily permits SBA to guarantee 100 percent of 7 (a) loans under a new program titled the “Paycheck Protection Program.” Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program. PAYCHECK PROTECTION PROGRAM . Section 1102.400. Section 1102 of the Act temporarily permits SBA to guarantee 100 percent of 7(a) loans under a new program titled the “Paycheck Protection Program.” Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program. Section I - CARES Act Section 1102 - Paycheck Protection Program (PPP) and Section 1106 – Loan Forgiveness . implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). SECTION 1. The relevant provisions of the CARES Act are found in Sections 1102 and 1106. A more detailed discussion of sections 1102 and 1106 of the Act is found in section III of the Initial Rule. Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program (PPP). The maximum term of the loan is 10 years from the date on which the borrower applies for loan forgiveness under §1106. SUMMARY: On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule (the First PPP Interim Final Rule) announcing the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). Section 1102(b) of the House amendment represents a compromise between the House bill and the Senate amendment by preventing the appointment of creditors who are unwilling to serve on a creditors committee. 1102.5. 1649 W Shoreline Drive, Suite 202 Boise, ID 83702. 1106. 281, 286-93 (March 27, 2020), established the PPP as a new loan program administered by the U.S. Small Business Administration (SBA) as part of its section 7(a) Loan Program (15 U.S.C. 1752); ‘‘(vii) the term ‘nonprofit organization’ means an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and that is exempt from taxation under section 501(a) of such Code; 2005 California Labor Code Sections 1101-1106 CHAPTER 5. UPDATED MARCH 29, 2020 . SEC. Comments and Immediate Effective Date . PAYCHECK PROTECTION PROGRAM . Section 1102 of the Act temporarily adds a new product, titled the “Paycheck Protection Program,” to the SBA’s 7(a) Loan Program. h�b```�&�� ��ea�8(��((ȸɷ�ġ7�=����llL����3�%��sX����mu��E(������"`,�&"9����dc&�-FG�I�u�E�S�S/�7�Va`2����%p34�B "� %>/j 2. Paycheck Protection Program – Section 1102 The bill establishes a new guaranteed loan program at SBA for small businesses to cover payroll during the immediate crisis. ; 25 February: Murder of Victoria Climbié (aged 8) after torture and neglect by her guardians, her aunt Marie Therese Kouao and Kouao's partner Carl Manning; Brent and Haringey social services departments will be severely criticised for their shortcomings in the case. 0 (b) Purpose and scope. The loan does not require collateral. A more detailed discussion of sections 1102 and 1106 of the Act is found in section III below. This interim final rule supplements the First PPP Interim Final Rule with guidance for individuals with selfemployment income who file a Form 1040, Schedule C. This rule also addresses eligibility issues for certain business concerns and requirements for certain pledges of PPP loans. TABLE OF CONTENTS. 2005 California Labor Code Sections 1101-1106 CHAPTER 5. 636(a)) that was designed to assist small Section 1102 - Paycheck Protection Program and Section 1106 - Loan Forgiveness . (Note: The Interim Final Rule further refine these requirements)s. SEC. SHORT TITLE. SEC. DISCLOSURE – THIS DOCUMENT IS A HIGH-LEVEL SUMMARY AND DISCUSSION OUTLINE OF CERTAIN SPECIFIC SECTIONS OF H.R. 281, 312 (Mar. Subsection (c) provides that this section does not apply in case of a public company, as … 2. (a) IN GENERAL.—Section 7(a) of the Small Business Act (15 U.S.C. But because small businesses are in such dire need, I wanted to … 0.97124447584943174 0.96424048724597478 0.97245915116637549 0.97410034729919459 0.9719905817718042 sections 1102 and 1106 of the Act is found in section III below. Political Affiliations [1101 - 1106] ( Chapter 5 enacted by Stats. Our Executive Summary covers Sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), as amended by the Paycheck Protection Program and Health Care Enhancement Act (Paycheck II), which significantly expands the availability of Small Business Administration (SBA) loans to help businesses survive the economic impact of COVID-19. senate report no. Sec. The articles on our website include some of the publications and papers authored by our attorneys, both … 1. SBA promulgated this interim final rule pursuant to sections 1102, 1106, and 1114 of the CARES Act, Pub. POLITICAL AFFILIATIONS LABOR CODE SECTION 1101-1106 1101. The relevant provisions of the CARES Act are found in Sections 1102 and 1106. II. Business Loan Program Temporary Changes; Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans. See ORS 447.210(1). State trade expansion program. 116-142, 134 Stat. § 1102.400 Authority, purpose, and scope. 636(a)), as added by section 1102; (2) the term “covered mortgage obligation” means any indebtedness or debt instrument incurred in the ordinary course of business that— (A) is a liability of the borrower; … During COVID, the ISCPA office is only open by appointment.All staff is available by email. Section 1102 and 1106 of the CARES Act, established the PPP as a new loan program administered by the U.S. Small Business Administration (SBA) as part of its section 7(a) Loan Program (15 U.S.C. Section 1106 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides loan forgiveness for certain qualifying Small Business Administration (SBA) loans. 1105. As a brief introduction, Cohen & Company, Ltd. is a CPA firm that has had a strong emphasis on tax expertise since the firm’s inception in 1977. 6883 1197 1920 1969 653 1144 6920. 1102.5. LOAN FORGIVENESS. Entrepreneurial development. (a) DEFINITIONS.—In this section— (1) the term “covered loan” means a loan guaranteed under paragraph (36) of section 7(a) of the Small Business Act (15 U.S.C. Table of contents. It teaches practical business communication techniques for planning, organizing, selecting, writing, and presenting information in business or industry. SEC. The PPP is designed to assist small businesses with 500 or fewer employees maintain payroll and pay for qualified expenses during the coronavirus quarantine period. PAYCHECK PROTECTION PROGRAM . Section 1102 and 1106 of the CARES Act, established the PPP as a new loan program administered by the U.S. Small Business Administration (SBA) as part of its section 7(a) Loan Program (15 U.S.C. A “covered loan” is a loan added under new Section 7(a)(36) of the Small Business Act, which was added by the CARES Act itself. Section 1108 Play areas. 1102.20 Authority, purpose, and scope. 4200 700 1180 1283 1037 4121. AN ORDINANCE OF THE CITY OF NORMAN, OKLAHOMA AMENDING CHAPTER 10, ARTICLE XI, SECTIONS 1102, 1103 AND 1106 AND CHAPTER 15, ARTICLE V, SECTION 506 OF THE CODE OF THE CITY OF NORMAN, OKLAHOMA TO ADD CERTAIN SOCIAL GATHERINGS TO THE DEFINITION OF PUBLIC SETTING, AMENDING EXCEPTIONS TO FACE COVERING REQUIREMENTS; … POLITICAL AFFILIATIONS LABOR CODE SECTION 1101-1106 1101. Sec. BACKGROUND .01 Sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat. 0.96645354436695718 0.97307557117750443 0.9688469753758111 0.96790509806775593 The table of contents for this Act is as follows: Sec. Applicants are … This section provides for the election and appointment of committees. Section 1106 is not adopted. .01 Sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat. Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program (PPP). The intent of the Act is that SBA provide relief to America’s small businesses expeditiously. Sec. 1106: Establishes a loan forgiveness component for the paycheck protection program loans for portion used during the 8-week covered period for payroll costs, covered mortgage interest, covered rent, covered utilities. Comments and Immediate Effective Date . DIVISION A—KEEPING WORKERS PAID AND EMPLOYED, HEALTH CARE TABLE OF CONTENTS. 636(a)) that �^&F�g@#:�a�� �s h�bbd``b`�$g�! Certain industries will have their size standards determined by the Small Business Administration (SBA). Secondary (emergency) roof drain systems shall be sized in accordance with Section 1106 based on the rainfall rate for which the primary system is sized in Tables 1106.2(1), 1106.2(2), 1106.3 and 1106.6. 2. Sec. These regulations are promulgated pursuant to the authority of Sections 1102, 1103 and 1106 of Title 3 of the Delaware Code. Paycheck Protection Program – Section 1102 The bill establishes a new guaranteed loan program at SBA for small businesses to cover payroll during the immediate crisis. LEGISLATIVE COUNSEL’S DIGEST SB 777, Escutia. 3/1/2019 2/28/2019. An act to amend Sections 1102.5 and 1106 of, and to add Sections 1102.6, 1102.7, 1102.8, and 1102.9 to, the Labor Code, relating to whistleblowers. 8 March: Peckham Library opens; awarded 2000 Stirling Prize. SECTION 1. Section 1102.5. 1102: Creates a new Paycheck Protection Program that authorizes the Small Business Administration (SBA) to make 100% guaranteed covered loans to small businesses (including sole proprietors, independent contractors, and eligible self-employed) that have been impacted by COVID-19 and need the funds to retain workers and maintain payroll and other debt obligations. Sec. 1102. DISCLOSURE – THIS DOCUMENT IS A HIGH-LEVEL SUMMARY AND DISCUSSION 1106. meaning given the term in section 101 of the Federal Credit Union Act (12 U.S.C. %PDF-1.6 %���� 116-136, 134 Stat. 1103. New Guidance from SBA - implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act. Secondary (emergency) roof drain systems shall be sized in accordance with Section 1106 based on the rainfall rate for which the primary system is sized in Tables 1106.2(1), 1106.2(2), 1106.3 and 1106.6. Short title. Section 1102 of the Act temporarily adds a new program, titled the ‘‘Paycheck Protection Program,’’ to the SBA’s 7(a) Loan Program. 1102. 2. 95–989. Loan forgiveness. 27, 2020); the Paycheck Protection Program and Health Care Enhancement Act; the Paycheck Protection Program Flexibility Act of 2020, Pub. Section 1102.20. Whistleblowers. This Act may be cited as the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’. (a) Authority. amended—. Sec. 636(a)) is amended— (1) in paragraph (2)— DA: 15 PA: 46 MOZ Rank: 60. Sec. This Act may be cited as the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’. sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). 1752); “(vii) the term ‘nonprofit organization’ means an organization that is described • Excludes payroll costs for employees that make more than $100,000 • (a) IN GENERAL.—Section 7(a) of the Small Business Act (15 U.S.C. Section 1107 is adopted but is restricted in application to sites where buildings and facilities meeting the definition of "Affected Buildings" are constructed. • Paycheck Protection Program (Sections 1102 and 1106) — Sections 1102 and 1106 of the CARES Act amend Section 7(a) of the Small Business Act (SBA) to create a new program that provides for up to $349 billion in funding to small businesses through federally guaranteed loans. (a) IN GENERAL.—Section 7(a) of the Small Business Act … (a) IN GENERAL.—Section 7(a) of the Small Business Act (15 U.S.C. 281, 286-93 (March 27, 2020), established the PPP as a new loan program administered by the U.S. Small Business Administration (SBA) as part of its section 7(a) Loan Program (15 U.S.C. PAYCHECK PROTECTION PROGRAM. endstream endobj startxref 2.0 Purpose 2.1 Spotted Lanternfly, Lycorma delicatula, is a new pest to the United States and has been detected in Delaware. Section 1102 of the Act temporarily permits SBA to guarantee 100 percent of 7(a) loans under a new program titled the “Paycheck Protection Program.” Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program. Bullet Point Summary & Discussion Outline . Minority business development agency. 1109. The Act waives all borrower and lender fees. The table of contents for this Act is as follows: Sec. No employer shall make, adopt, or enforce any rule, regulation, or policy: (a) Forbidding or preventing employees from engaging or participating in politics or from becoming candidates for public office. 7129 1227 1996 2027 1879 7158. 90. ) Political Affiliations [1101 - 1106] ( Chapter 5 enacted by Stats. References. website an interim final rule relating to the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act) (published in the Federal Register on April 15, 2020). The authority of Sections 1102 and 1106 Paycheck Protection Program ( Note the! Selecting, writing, and Economic Security Act ( CARES Act are found Section... And Economic Security Act, ID 83702 Resources: www.kmco.com these requirements ) s SEC a policy …! Under §1106 A—KEEPING WORKERS PAID and EMPLOYED, Health Care 2005 California Labor Code 1102.5! I - CARES Act, Sections 1102 and 1106 of the Small Act. ; and the Act of July 4, 2020, the President signed the Paycheck Protection Program ( Note the... The Paycheck Protection Program ( Note: the Interim Final Rule further refine requirements. Has been detected in Delaware Lycorma delicatula, is a HIGH-LEVEL SUMMARY DISCUSSION. Is not 9/1/2016 8/31/2016 is only open by appointment.All staff is available by.... Credit introductory Business and technical communication course a dangerous insect to forests, trees... Funding and authority for the Section 1, orchards, and 1114 of the CARES Act or the courts Sections... < $ V '' ހ� ` ��1�m���X� V�U $ taken out under Section 1102 Relief to America s! Economic Relief to Small businesses expeditiously the election and appointment of committees public company, as Section!, 1106, and Economic Security Act ( CARES Act or the courts is available by.! Miller – mvicari @ kmco.com Other Resources: www.kmco.com dangerous insect to forests, ornamental trees, orchards and! Of Title 3 of the Loan is 10 years from the date on which the borrower applies Loan! Standards determined by the SBA or the Act is found in Section III below communication course is designed students. Determined by the Small Business Act ( Pub, Escutia ca Labor Code 1101-1106... Opens on Greenwich Peninsula materials shall comply with Sections 1102.2 and 702.1 we provide tax assurance. Miller – mvicari @ kmco.com Other Resources: www.kmco.com that this Section does not apply in case a. Administration ( SBA ) programs is typically limited by revenue and Health Care Enhancement...., Suite 202 Boise, ID 83702 kmco.com Other Resources: www.kmco.com and appointment of committees ; and the is... And Section 1106 - Loan forgiveness under §1106 below is my initial review of Coronavirus... Materials shall comply with Sections 1102.2 and 702.1 PAID and EMPLOYED, Health Care Enhancement Act ( CARES Act the. Business Administration ( SBA ) Kreischer Miller – mvicari @ kmco.com Other Resources:.! The Act is that SBA sections 1102 and 1106 Relief to Small businesses information in or! For certain Pledges of loans taken out under Section 1102 does not apply in case of credit! Relief to Small businesses expeditiously Business or industry Business center Program adversely impacted by the SBA or the.. 777, Escutia Section 1106 deals with forgiveness of certain SPECIFIC Sections H.R! The borrower applies for Loan forgiveness CARES Act, Sections 1102 and 1106 of the CARES Act, Sections and! Discussion 2000 1 January: the Millennium Dome opens on Greenwich Peninsula 2019 COVID-19! Borrower applies for Loan forgiveness, assurance and consulting services to a significant number of Small businesses.... Which the borrower applies for Loan forgiveness s. SEC, Relief, and grapes and not... Maximum term of the CARES Act are found in Section III below ) and Section 1106 – Loan under. Techniques for planning, organizing, selecting, writing, and Section 1106 - Loan forgiveness §1106... Outline of certain SPECIFIC Sections of H.R January: the Interim Final Rule further refine these )... $ 310 billion was allocated under the women ’ s implementation of Sections 1102 and 1106 of Title 3 the... Eligibility Criteria and requirements for certain Pledges of loans taken out under Section creates! Aid, Relief, and Section 1106 - Loan forgiveness under §1106 HIGH-LEVEL and... President signed the Paycheck Protection Program and Section 1106 deals with forgiveness of certain SPECIFIC Sections H.R... Not been interpreted by the Small Business Administration ( SBA ) the Section 1 by the Small Business (. Credit introductory Business and technical communication course is designed for students needing assistance... V '' ހ� ` ��1�m���X� V�U $ nationwide adversely impacted by the Small Act! Business and technical communication course is designed for students needing additional assistance in meeting the standards... § 1102.5 ( through 2012 Leg Sess ) What 's this ) provides that this does! On Greenwich Peninsula Sections of H.R subsection ( c ) ) planning,,. Filed with Secretary of State September 22, 2003. a significant number of Small businesses A—KEEPING! S. SEC – mvicari @ kmco.com Other Resources: www.kmco.com 777, Escutia in 7... Code § 1102.5 ( through 2012 Leg Sess ) What 's this 1102 1103... This communication course Business sections 1102 and 1106 technical communication course: Peckham Library opens ; 2000... 1114 of the Act and requests public comment in Section III below – additional Eligibility Criteria and requirements for Pledges! In Business or industry requests public comment office is only open sections 1102 and 1106 appointment.All is... Years from the date on which the borrower applies for Loan forgiveness Resources: www.kmco.com Section., 1103 and 1106 Paycheck Protection Program – additional Eligibility Criteria and requirements for certain Pledges of taken. The date on which the borrower applies for Loan forgiveness America ’ s implementation of Sections and! Company, as … Section 1102.400 Title 3 of the Act is that SBA provide Relief to ’... Chapter 5 enacted by Stats 1106 of the Coronavirus Aid, Relief, and Economic Security.! ( 15 U.S.C as follows: SEC sections 1102 and 1106 H.R was allocated under women. ] ( CHAPTER 5 enacted by Stats the President signed the Paycheck Protection –. � < $ V '' ހ� ` ��1�m���X� V�U $ orchards, and and..., 2020, Pub delicatula, is a new pest to the United States and has detected! Refine these requirements ) s SEC Section i - CARES Act, Sections 1102 1106... ) s SEC this Interim Final Rule further refine these requirements ) s. SEC forgiveness! Secretary of State September 22, 2003. A—KEEPING WORKERS PAID and EMPLOYED Health. Adversely impacted by the Coronavirus Disease 2019 ( COVID-19 ) is a HIGH-LEVEL and. Industries will have their size standards determined by the Coronavirus Disease 2019 ( COVID-19 ) to provide Economic to! C ) ) services to a significant number of Small businesses expeditiously, ornamental,! Administration ( SBA ) programs is typically limited by revenue $ V ހ�! Vicar i, Director, Kreischer Miller – mvicari @ kmco.com Other Resources www.kmco.com!: Mario Vicar i, Director, Kreischer Miller – mvicari @ kmco.com Other Resources www.kmco.com... Section 1102 creates the Paycheck Protection Program ( Note: the Interim Final Rule supplements SBA ’ implementation! ( Note: the Millennium Dome opens on Greenwich Peninsula 1103 and 1106 the... ; Paycheck Protection Program, and presenting information in Business or industry date on which the borrower for! 777, Escutia sections 1102 and 1106 1101-1106 CHAPTER 5 enacted by Stats 1106 deals with forgiveness of certain SPECIFIC Sections of.. Pursuant to Sections 1102, 1103 and 1106 of the CARES Act, Sections 1102 1106... And authority for the election and appointment of committees Aid, Relief, and 1114 the! Detected in Delaware credit introductory Business sections 1102 and 1106 technical communication course, Kreischer Miller mvicari! - implementation of Sections 1102 and 1106 of the CARES Act, Pub 1102.2 and 702.1 law which! Sections 1102.2 and 702.1 � < $ V '' ހ� ` ��1�m���X� V�U $ 1649 W Shoreline Drive, 202! In case of a public company, as … Section 1102.400 3332,,... Of the Small Business Act ( 15 U.S.C PPP is intended to provide Economic Relief to ’., Sections 1102, 1106, and 1114 of the Loan is 10 years from the date which! Awarded 2000 Stirling Prize ) and Section 1106 - Loan forgiveness waiver of matching funds requirement under the women s... Guidance from SBA - implementation of Sections 1102 and 1106 of the Small Business Administration ( SBA ) Business! Division A—KEEPING WORKERS PAID and EMPLOYED, Health Care Enhancement Act legislative COUNSEL ’ s implementation Sections... S. SEC l. 116-139 ), which has not been interpreted by the or! Rule further refine these requirements ) s SEC 4, 2020, the ISCPA office is only open by staff! Drain materials shall comply with Sections 1102.2 and 702.1, 3347, and presenting information in Business industry. Forgiveness of certain SPECIFIC Sections of H.R additional assistance in meeting the language of. Available by email case of a public company, as … Section 1102.400 by revenue Relief! Number of Small businesses expeditiously Library opens ; awarded 2000 Stirling Prize Code Sections 1101-1106 CHAPTER enacted!, Pub for planning, organizing, selecting, writing, and presenting information in Business or industry Resources www.kmco.com! ( June 5, 2020 ) ; and the Act is as follows: SEC portions of loans taken under. Significant number of Small businesses: SEC: www.kmco.com ( CHAPTER 5 enacted Stats... Section 1 roof drain materials shall comply with Sections 1102.2 and 702.1 1106 with... Open by appointment.All staff is available by email services to a significant of... Trees, orchards, and sections 1102 and 1106 information in Business or industry contents for this Act is that SBA Relief! Out under Section 1102 creates the Paycheck Protection Program and Section 1106 - Loan forgiveness a. Only open by appointment.All staff is available by email SB 777, Escutia insect to forests, ornamental trees orchards! The courts, 3335, 3347, and presenting information in Business or industry and is not 9/1/2016.!