Cares Act Passed In December. Section 102 extends the termination date to march 31, 2021. The coronavirus aid, relief, and economic security act or, cares act, was passed by congress on march 27th, 2020.
You can scroll down to see our more expansive information on the cares act, and it’s most important piece for startups, the ppp loans. Employers should review the arpa’s provisions to identify any requirements and opportunities that apply to them. College students 24 and under are not eligible.
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The cares act was introduced on march 19, 2020, by senate majority leader mcconnell. On march 27, 2020, the coronavirus aid, relief, and economic security act (the “cares act” or “bill”), a “phase iii” coronavirus economic stimulus package, was passed by the house and quickly signed by the president. (a) authority to include additional financial institutions.—the department of the treasury, in consultation with the administration and the other federal financial regulatory agencies (as defined in section 313(r) of title 31, united states code), shall establish criteria for insured depository institutions (as defined in section 3 of the federal deposit insurance act (12 u.s.c. This act may be cited as the ‘‘coronavirus aid, relief, and