• The National Restaurant Association has prepared four new tools to help restaurant owners navigate the new legislation passed by Congress as it relates to the coronavirus pandemic.
• The U.S. Department of Labor Wage and Hour Division is responsible for implementing and enforcing new leave mandates enacted as part of the Phase II COVID-19 response bill. Click here for an overview of the paid and sick leave regulations in the Families First Coronavirus Response Act (FFCRA).
• The CARES Act created a $349 billion fund to help businesses retain employees during the virus emergency and includes a Paycheck Protection Program (PPP) of federally-guaranteed loans to eligible companies. Click here to view the PPP background document.
• The Economic Injury Disaster Loans (EIDL) targeting small businesses with both a low interest loan and the possibility of a short-term cash advance that is forgivable under certain rules. Click here to view the EIDL background document.
• The law also established a new Employee Retention Tax Credit (ERTC) of up to 50 percent of as much as $10,000 in employee wages paid by businesses that are closed, partially closed, or experiencing a major reduction in revenue due to the crisis. Click here to view the ERTC background document.

• For our Workers' Compensation Safety Group 505 Participants, the New York State Insurance Fund (NYSIF) and the Association stand ready to help. NYSIF will be suspending cancellations, late fees, interest and installment fees on your worker’s compensation policy. We want to ensure that you maintain full coverage without assuming additional financial burden at this time. We know you’ve experienced a significant decrease in your payroll – please contact Kevin Cook, Jennifer Romanski or Sarah Cook to adjust your payroll to lower your premium.

• NYC Mayor de Blasio's office has offered a preview of the budget cuts the city can expect in response to the Covid-19 crisis. Among the areas indicated so far for cuts are 3K (preschool) and other Department of Education expenses, a summer youth employment program, bike and bus lanes, and eliminating vacant positions in city agencies. We expect the full executive budget to be announced later this month, and we will update you when more details are available.