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UPDATE: CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT PAYCHECK PROTECTION PROGRAM Over the weekend, the Small Business Administration (the “Administration”) published a Second Interim Final Rule to provide guidance in applying the affiliation rules under the Small Business Act (the “SBA”) to certain borrowers under the Paycheck Protection Program (the “Program”) set forth in the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).  The Second Interim Final Rule is effective immediately, although the Administration will consider any comments received to the Second Interim Final Rule following its publication. The Second Interim Final Rule confirms that, subject to the

CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT PAYCHECK PROTECTION PROGRAM On April 2, 2020, the Small Business Administration (the “Administration”) published an Interim Final Rule to provide guidance to borrowers and lenders in applying for and disbursing loans (“Covered Loans”) under the Paycheck Protection Program (the “Program”) set forth in the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The Interim Final Rule is effective immediately, although the Administration will consider any comments received to the Interim Final Rule following its publication. The Interim Final Rule addresses, among other things, the following items: Clarifies that amounts paid by

DEPARTMENT OF LABOR & INTERNAL REVENUE SERVICE GUIDANCE REGARDING THE FFCRA On April 2, 2020, the U.S. Department of Labor’s Wage and Hour Division published a temporary rule (available here) issuing regulations pursuant to the Families First Coronavirus Response Act (“FFCRA”). The Internal Revenue Service (“IRS”) has also issued guidance (available here) regarding COVID-19 related tax credits available to employers who are required to provide paid leave under the FFCRA. Much of the temporary rule repeats prior guidance published by the DOL, but there are a few new takeaways worth mentioning: Temporary Rules Regarding the FFCRA Child Care Provider. The

DEPARTMENT OF LABOR GUIDANCE REGARDING PAID SICK LEAVE AND FMLA CHILDCARE LEAVE UNDER THE FFCRA Over the weekend, on March 28, 2020, the U.S. Department of Labor’s Wage and Hour Division published its latest round of guidance to assist employers with complying with the Families First Coronavirus Response Act (“FFCRA”). This new guidance appears in the form of updated Questions and Answers Nos. 38-59 (available here) and addresses, among other things, the following:  Clarifies the interaction of FMLA emergency childcare leave with regular FMLA leave; Clarifies that a full-time employee for purposes of the Emergency Paid Sick Leave Act is