Presented by MMA and Butzel Long

Background: On 12/27/20, President Trump signed into law the Consolidated Appropriations Act, 2021, which included several provisions related to the Paycheck Protection Program (PPP) first established under the CARES Act and the amendatory Flexibility Act. Among the numerous provisions of this comprehensive bill was creation of the “COVID-related Tax Relief Act of 2020,” which made several changes to the PPP structure and the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act,” which established a much-needed second round of PPP funding.