Advertisement
American Rescue Plan Act Expands PPP Eligibility - Modifies Loan Forgiveness and Adds Funding for Online Publishers, Restaurants and Shuttered Venues Tuesday, March 16, 2021
President Biden recently signed the American Rescue Plan Act of 2021, which adds an additional $15 billion in new funding for Economic Injury Disaster Loan grants, expands PPP for nonprofit organizations, online news publishers, restaurants, shuttered venues and modifies loan forgiveness rules.
Nonprofit Organizations
501(c) entities, other than 501(c)(3), (4), (6) or (19), that are exempt from taxation under 501(a) (“Additional Nonprofits”) are eligible to receive first draw PPP loans if Additional Nonprofits:
Employ no more than 300 employees per physical location;
Posted March 11th, 2021 for Broadcast Music Posted in on March 11, 2021 Today, President Biden signed the sweeping $1.9 trillion COVID-19 relief package called the American Rescue Plan Act of 2021, offering support to many individuals economically impacted by the pandemic, including music creators, copyright owners, and other small businesses. This vital legislation includes the following provisions that can help the creative community:
Direct Payments: The American Rescue Plan provides a $1,400 payment to supplement the $600 already provided in December. Individuals earning up to $75,000 and couples earning up to $150,000 will receive the full direct payments of $1,400 per person. Individuals will also receive an additional $1,400 payment for each dependent claimed on their tax returns.
Public Assets Institute As the legislature gets into full swing this month, dealing with the impacts of COVID-19 on Vermonters will be at the top of the list. At the end of 2020, Washington approved another round of pandemic relief, adding more funds and extending the spending deadline for the federal aid sent last spring. Vermont expects up to $2.5 billion from this new round