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Pandemic Relief Package Expansion of PPP - US Chamber
ICYMI: Summary of 501(c)(6) Eligibility in Pandemic Relief Package Expansion of PPP
The final pandemic relief package restarts the Paycheck Protection Program (PPP) and expands PPP eligibility to include 501(c)(6)s. The language begins on page 2102 (in the PDF) and can be found here. The authority to make new PPP loans will terminate on March 31, 2021. We expect the pandemic relief bill to become law this week.
501(c)(6) organizations are eligible to receive a PPP loan provided:
  1. They are not a professional sports league or organized for the purpose of promoting or participating in a political campaign (Note: this will not impact chambers of commerce or trade associations);
  2. They do not employ more than 300 employees;
  3. They do not receive more than 15% of their receipts from lobbying activities;
  4. Lobbying activities do not compromise more than 15% of the organization’s total activities; and
  5. The cost of the lobbying activities of the organization did not exceed $1,000,000 during the most recent tax year that ended prior to February 15, 2020.
If an organization fails any of these tests they are NOT eligible to receive a PPP loan.
Similar rules apply to Destination Marketing Organizations.
Lobbying activities are not defined in the section. The Small Business Administration may provide a definition or guidance. Congressional staff have used information available in the 990 tax form when discussing the impact of the 15% lobbying activities limitation. Specifically, staff have compared the lobbying expenses reported on schedule C, Part III-B, Line 2 with the total expenses reported for the year (Page 1, line 18). (Note that these lines may be different if you are using a 990 form vs. 990EZ.)
Absent further guidance, organizations may wish to analyze their most recent 990 to determine whether they may be eligible to apply for a PPP loan and may wish to proceed with their lender if they believe they do qualify.
The bill also expands allowable uses for PPP funds and simplifies the loan process. We will be providing separate information on the other PPP changes.
Travel Provisions in the COVID-19 Emergency Relief Package
Congress has passed a year-end funding bill that includes a COVID-19 recovery package. While many components of the legislation impact travel, a few of particular importance to the industry include:
  • PPP Eligibility for DMOs: Expands PPP eligibility to both nonprofit and quasi-governmental destination marketing organizations (DMOs) with 300 employees or less (full time and part-time combined).
  • $35 billion is set aside for first-time PPP loan recipients.
  • Second round of PPP loans: Businesses with 300 employees or less and a 25% decline in revenue in any quarter in 2020 may receive a second PPP loan of up to $2 million.
  • Extension to use Coronavirus Relief Funds until December 31, 2021.
  • $15 billion in grants to concert venues, performing art centers, theaters, and museums with 500 or less full-time equivalent employees and at least a 25% decline in revenue, among other qualifications.
  • Extension of the Employee Retention Tax Credit through July 1, 2021.
  • $2 billion in grants for airports and airport concessionaires: Including $1.75 billion in grants for commercial service airports and $200 million for airport concessionaire relief.
  • Full deductibility of business meal expenses incurred in 2021 and 2022.
COVID-19 News from Nebraska State Chamber
Quarantine options updated

Nebraska updated its quarantine options in the latest DHM’s effective December 3 – 31. If necessary, individuals can complete a close contact quarantine after seven days with a negative test or 10 days without a test.
 
Continued monitoring and mask-wearing is required. Local health departments have final authority, depending on local conditions.
 
The CDC guidance appears to be tied to the availability of mass testing and lower risk of transmission, ranging from 1% to 12%.
Let's all do our part this holiday season and
Avoid the Three C's
to keep us all healthy.
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