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The Consolidated Appropriations Act Of 2021: An Update For Tax-Exempt Organizations | Goodwin


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On December 27, 2020, “The Consolidated Appropriations Act of 2021” (H.R. 133) (the “CAA”) was signed into law by the President. The CAA includes various updates to, and additional funding for, programs established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Programs and changes of particular interest to 501(c)(3) organizations include the Paycheck Protection Program, the Economic Injury Disaster Loan and Grants Program, the Higher Education Emergency Relief Fund, grants for shuttered venue operators, and temporarily expanded charitable deductions to incentivize charitable giving.
PAYCHECK PROTECTION PROGRAM
The CAA modifies and reopens the Paycheck Protection Program (the “PPP”) through March 31, 2021. The PPP is available for first-time borrowers and additional second draw loans are now available to certain borrowers as well. 501(c)(3) tax-exempt organizat ....

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