Cares Act Colorado End Date. About $1 billion of the money will be used for what polis says are “immediate needs” in the current fiscal year, which runs through june. The cares (coronavirus aid, relief, and economic security) act is designed to help you, businesses, and nonprofits facing economic hardship during the coronavirus pandemic.
This has resulted in some states changing their fiscal year end date, changing their irc conformity dates, and decoupling from favorable business provisions of the cares act because not doing so would reduce tax revenues even further. A related measure — not funded through cares act dollars — would set up a $250 million small business recovery loan program in colorado. Some key provisions are set to expire at year's end.
Some key provisions are set to expire at year's end.
(a) if the due date pursuant to subparagraph (b) or (c) of section 72(p)(2) of such code for any repayment with respect to such loan occurs during the period beginning on the date of the enactment of this act and ending on december 31, 2020, such due date shall be delayed for 1 year (or, if later, until the date which is 180 days after the date of the enactment of this act), On march 10, 2021 congress passed the american rescue plan act of 2021.on march 11, 2021 president biden signed the bill into law. On june 26, 2020, governor polis signed h.b. As a result, the cares act changes that impact 2018 or 2019 do not currently apply to colorado.