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Massachusetts Restaurant Recovery Commission & New PPP Guidance
Coronavirus update 5/25/20   Memorial Day "Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices." -President Harry S. Truman   Washington DC Congressional Fixes to PPP Our calls for Congress to fix the Paycheck Protection Program (PPP) on behalf of the restaurant industry are making a difference.  On Wednesday, House lawmakers will vote to approve bipartisan legislation that will make real changes in PPP, extending the period restaurants can use to spend federal loans, giving more flexibility in how the loans are used, and extending the date that restaurants can bring their teams back online. The Senate is considering how to fix the PPP – and we will need your voice to press for them to finish the job. Stay tuned for an update after the House vote and a call-to-action to move a real PPP fix through the Senate.   PPP-new/recent guidance from the Treasury Interim Final Rule on Loan Forgiveness (5/22/20) Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (5/22/20) Lender Processing Fee Payment and 1502 Reporting Process (Effective 5/21/20) Interim Final Rule on Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting (5/20/20) FAQ (Last Updated 5/19/20)    Massachusetts Restaurant Recovery Commission Speaker of the House Robert DeLeo announced that restaurants will need special attention as the Massachusetts economy seeks to recover. In an economic address, the House Speaker outlined the steps that the House would take to refocus lawmakers on aiding the state's economic recovery. The Speaker announced that the "Restaurant Promotion Commission" will be repurposed as the "Restaurant Recovery Commission" to focus on issues impacting our industry. "...It is important for us to work with restaurants so that when this is over, we have healthy business to provide jobs for our residents." The MRA has proposed a number of legislative issues that legislators need consider to both in the short and long term get our industry back on track.   Massachusetts Public Health Indicators The Governor's office has indicated a number of public health indicators must trend in the right direction, both during and after reopening. Please find the latest report here: https://www.mass.gov/doc/covid-19-dashboard-may-25-2020/download Updates to this dashboard will be posted on the MRA website nightly.    
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