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ARTICLE · 06 MAY 2020

$484 Billion Small Business Coronavirus Relief Bill Summary

Dickinson Wright PLLC
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On April 24, 2020, President Trump signed "Phase 3.5" of the emergency interim coronavirus relief package into law a day after Congress had passed the legislation, known as the Paycheck Protection Program...

United StatesCoronavirus (COVID-19)
Kevin W. DeHart
Kevin W. DeHart
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On April 24, 2020, President Trump signed "Phase 3.5" of the emergency interim coronavirus relief package into law a day after Congress had passed the legislation, known as the Paycheck Protection Program and Health Care Enhancement Act, which expands upon the Coronavirus Aid, Relief, and Economic Security Act signed into law on March 27, 2020. The $484 billion in additional funding will replenish the Paycheck Protection Program and provide additional support of Health and Human Services and Emergency Disaster Loans as summarized below:

AMENDMENTS TO THE PAYCHECK PROTECTION PROGRAM

  • Expand the authorization level in Section 1102(b)(1) of the CARES Act for the Paycheck Protection Program from $349 billion to $659 billion.

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