Please be patient with the links from the latest omnibus legislation (Consolidated Appropriations Act, 2021). They load slowly but will take you directly to the reference. The complete text of the law is available in PDF format here. You can search using the section numbers provided in the references.
Institutions may accept a signed and dated statement from applicants in which they truthfully attests to secondary school completion or the equivalent.
If an estimated or actual amount of PPP loan forgiveness is identified on an institution's audited financial statements for the year in which the loan was received, and attested to by the institution's auditor, the Department will exclude that portion of the PPP loan from total liabilities and increase the institution's equity or net assets by that amount in calculating the institution's composite score.
Institutions must exclude work-study students when counting employees for PPP loan eligibility.
Institutions must exclude payroll costs for FWS students from the calculation of payroll costs used to determine their PPP loan amount. See here for details.
Insurance: Several states are considering laws that would permit businesses to collect on business interruption claims despite lack of physical damage and specific virus or pandemic exclusions. If passed, the constitutionality of those laws may come under fire.