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Author: Daniel Cronin

GOVERNOR ANNOUNCES EXTENSION OF STAY-AT-HOME ORDER

Governor Pritzker has announced an extension and modification to the Illinois Stay-At-Home Order today. The extension is through May 30th. The current order runs through April 30th and this modified Order will go into effect on May 1st. While the actual order has not been released yet and may not be until early next week. As soon as its released, Power & Cronin will provide a detailed analysis of the modifications with a focus on its impact on business operations. For now, we have the following general details on the upcoming modifications starting May 1st: OUTDOOR RECREATION: State parks will begin...

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IRS Guidance for the Families First Coronavirus Response Act

Since our last update on March 26 regarding the Families First Coronavirus Response Act (“FFCRA”), the IRS has provided guidance on the two key provisions of the FFCRA, being the Emergency Paid Sick Leave Act (“EPSLA”) and the Emergency Family and Medical Leave Expansion Act (“EFMLEA”) which amends Title I of the Family Medical Leave Act (“FMLA”).  Below is a summary of the Guidance recently provided by the IRS.  Additionally, the US DOL has provided additions and modifications(several times to date) to the Rules for the FFCRA that I will summarize in another update. Tax Credits for Eligible Employers The FFCRA provides...

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Update on SBA’s Paycheck Protection Program

The Small Business Administration (“SBA”) has released a Sample Application for the Paycheck Protection Program (“PPP”) made available in the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”).  I have attached the sample application for your review.  Additionally, the SBA has provided updated guidance on the PPP and the application process. Under the PPP, small businesses, nonprofits, sole proprietorships, independent contractors and self-employed individuals are eligible for loans of up to $10 million.  This program is for any small business with less than 500 employees affected by coronavirus/COVID-19.Businesses in certain industries may have more than 500 employees if they meet the SBA’s...

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CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (“CARES Act”)

On March 27th, the President signed the CARES Act, the third coronavirus relief packaged signed by the President.  AT 880 pages and $2 Trillion in economic impact, the CARES Act is very large and contains many important provisions for businesses.  Here we will highlight several of the Act’s key provisions.   PAYCHECK PROTECTION PROGRAM   Title I of the CARES Act is the Keeping American Workers Paid and Employed Act, which establishes the Paycheck Protection Program (“PPP”). Congress has appropriated $349 billion for the PPP, for three months of 100% guaranteed 7(a) loans to cover payroll costs, employer group health, interest on mortgage payments,...

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UPDATED COVID-19 GUIDANCE

UPDATED COVID-19 GUIDANCE Several days into the State of Illinois’ COVID-19 Response and Governor Pritzker’s Stay-Home Executive Order, we want to bring several developments to your attention as you guide your businesses through these difficult times.   The Families First Coronavirus Response Act   The U.S. Congress passed and the President signed into law the Families First Coronavirus Response Act (“FFCRA”) and its requirements go into effect on April 2, 2020.  Further, the Act is effective until, or sunsets on December 31, 2020.  FFCRA applies to all employers with fewer than 500 employees along with all government employers, with limited exceptions.  The FFCRA provides the...

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State of Illinois Executive Order

As you are undoubtedly aware by now, Illinois Governor J.B. Pritzker today issued COVID-19 Executive Order No. 8 (“EO No.8”), under the authority granted by the Illinois Emergency Management Agency Act, 20 ILCS 3305/7(1)-7(12).  The Illinois Emergency Management Agency Act grants the Illinois Governor very broad emergency powers for a period not to exceed 30-days when the Governor Declares a Disaster, which Governor Pritzker did on March 9, 2020.  The Governor may renew this Declaration at the end of the 30-day period.   EO No.8 is a Stay-Home Order which provides limitations on businesses currently operating in the State of Illinois.  EO...

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