New Forgiveness Application and Relief from Forgiveness Reduction for PPP Loans under $50,000 and Limitation of Lender Review of Expenses that Exceed Those Necessary for Forgiveness The latest Interim Final Rule issued by the SBA on October 8, 2020 addresses the following: Another new forgiveness application has been issued: SBA Form 3508S Borrowers with a PPP loan of $50,000 or less, other than any borrower that together with its affiliates received loans totaling $2 million or [...]

The SBA released a Procedural Notice (the “Notice”) effective October 2, 2020 that provides information concerning the required procedures for changes of ownership of an entity that received Paycheck Protection Program (“PPP”) funds. For purposes of the PPP, a “change of ownership” will be considered to have occurred when:• at least 20 percent of the common stock or other ownership interest of a PPP borrower (including a publicly traded entity) is sold [...]

• New York Election Law Section 3-110 entitled “Time allowed employees to vote” was amended and made effective on April 3, 2020• Pursuant to the amended law:    o Paid Time Off to Vote: If a registered voter does not have sufficient time outside of his or her scheduled working hours, within which to vote on any day at which he or she may vote, at any election, he or she may, without loss of pay for up to two hours, take off so much working time as will, when added [...]

The United States Department of Labor’s (DOL) Wage and Hour Division (WHD) Has Revised FFCRA Regulations • On September 11, 2020, the US Department of Labor’s WHD announced revisions to the regulations that implement the paid sick leave and expanded family and medical leave provisions of the FFCRA• This revised rule was issued in light of the US District Court for the Southern District of New York’s August 3, 2020, decision that invalidated portions of the relevant [...]

The U.S. Equal Employment Opportunity Commission (“EEOC”) has issued an update to its technical guidance: “What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws.” The technical guidance incorporates the EEOC’s prior guidance on the ADA and other anti-discrimination laws into one question and answer document. In addition, the updated guidance clarifies the following:• COVID-19 and Employee Testing (Question A.6): The ADA [...]

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