Coronavirus Aid, Relief, and Economic Security Act CARES Act S 3548

cares act s.3548

“(d) Interagency notification.—Not later than 180 days after the date of enactment of this subsection, https://www.jeevandip.com/accounting-virtual-assistant-services-remote/ and every 90 days thereafter, the Secretary shall transmit a report regarding the drugs of the current drug shortage list under this section to the Administrator of the Centers for Medicare & Medicaid Services.”. (3) COVERED LOSS.—The term “covered loss” includes losses, direct or incremental, incurred as a result of coronavirus, as determined by the Secretary. (b) Total compensation defined.—In this section, the term “total compensation” includes salary, bonuses, awards of stock, and other financial benefits provided by an eligible business to an officer or employee of the eligible business. (2) GOVERNMENT PARTICIPATION IN GAINS.—If an eligible business receives a loan or loan guarantee from the Federal Government under this section, the Secretary is authorized to enter into contracts under which the Federal Government, contingent on the financial success of the eligible business, would participate in the gains of the eligible business or its security holders through the use of such instruments as warrants, stock options, common or preferred stock, or other appropriate equity instruments. “Such excess shall be determined without regard to any deductions, gross income, or gains attributable to any trade or business of performing services as an employee.”.

cares act s.3548

Should Congress pass this $1 trillion economic relief bill during the coronavirus outbreak?

(B) SOCIAL SECURITY ADMINISTRATION.—For an additional amount for “Social Security Administration—Limitation on Administrative Expenses”, $38,000,000, to remain available until September 30, 2020. (iii) For an additional amount for “Department of the Treasury—Internal Revenue Service—Operations Support”, $209,600,000, to remain available until September 30, 2021. “(C) in the case of any qualifying child taken into account under subsection (b)(1)(B), the valid identification number of such qualifying child.

  • “(II) Any adjustment under subclause (I) shall not be taken into account in applying budget neutrality under clause (iii).”.
  • In addition to any amounts made available pursuant to this subsection, section 402A of this Act, or section of the Patient Protection and Affordable Care Act, there is authorized to be appropriated, and there is appropriated, out of any monies in the Treasury not otherwise appropriated, $1,320,000,000 for fiscal year 2020 for supplemental awards under subsection (d) for the detection of SARS-CoV-2 or the prevention, diagnosis, and treatment of COVID-19.
  • Funds were used for acquiring personal protective equipment (PPE), expanding testing capacity, and investing in research for vaccines and treatments.
  • (e) Program administration.—Under the infrastructure of the Department of the Treasury and with guidance from the Secretary of the Treasury, the Administration shall administer the program established under this section until the date on which the national emergency declared by the President under the National Emergencies Act (50 U.S.C. 1601 et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires.

Titles (

cares act s.3548

Lenders who grant loans these small business loans which are guaranteed by the SBA will be required to provide complete payment deferrals for a period of not more than 1 year. On March 19th, Senate Majority Leader Mitch McConnell Introduced the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), intended to serve as a comprehensive stimulus package in response to the economic crisis stemming from the coronavirus pandemic. The Senate is currently negotiating the details of the bill and the House of Representatives will need to vote on the bill as well before it is sent to the President to sign it into law.

  • The Secretary of Labor shall audit the three machine-readable files required by subparagraph (E)(ii) posted by no fewer than 200 group health plans or service providers furnishing third-party administrator services to a group health plan.
  • “(i) LOSSES.—Deductions for losses from sales or exchanges of capital assets shall not be taken into account under subparagraph (A)(i).
  • Notwithstanding any other provision of this title, this paragraph shall be the sole means of enforcing the provisions of this subsection.
  • Notwithstanding any other provision of law, the Secretary may implement the amendment made by subsection (a) by program instruction or otherwise.
  • Who experiences adverse financial consequences as a result of being quarantined, being furloughed or laid off or having work hours reduced due to such virus or disease, being unable to work due to lack of child care due to such virus or disease, closing or reducing hours of a business owned or operated by the individual due to such virus or disease, or other factors as determined by the Secretary of the Treasury (or the Secretary’s delegate).

State Stabilization Fund for K-12 and Higher Education

(2) Section 6103(p)(3)(A) of such Code, as so amended, is further amended by striking “(12),” and Coronavirus Aid, Relief, and Economic Security (CARES) Act inserting “(12), (13)(A), (13)(B), (13)(C), (13)(D)(i)”. (1) Section 6103(a)(3) of the Internal Revenue Code of 1986, as amended by the FUTURE Act (Public Law 116–91), is further amended by striking “(13), (16)” and inserting “(13)(A), (13)(B), (13)(C), (13)(D)(i), (16)”. (2) LIMITATION.—The Secretary of Education shall not waive under this section any statutory or regulatory requirements relating to applicable civil rights laws.

Student grants, student loans, and work-study programs

Holds a member harmless for the amount of any difference in excess of the amount of the individual’s responsibility generated by the self-service tool and the amount ultimately billed or charged to the individual. Nothing in the amendments made by this section may be construed as affecting the applicability of the regulations codified at part 180 of title 45, Code of Federal Regulations, before January 1, 2025. The Secretary shall not grant or extend any waiver, delay, tolling, or other mitigation of a civil monetary penalty for violation of this subsection. The limitation on the increase of any penalty applied under clause (iii) pursuant to the amounts specified in subclause (II) of such clause. A senior official from each hospital (the Chief Executive Officer, Chief Financial Officer, or an official of equivalent seniority) shall attest to the accuracy and completeness of the disclosures made in accordance with the hospital price transparency requirements set forth in this regulation.

cares act s.3548

  • (B) clause (ii) of such section shall be applied by substituting “the present value of the nonforfeitable accrued benefit of the employee under the plan” for “one-half of the present value of the nonforfeitable accrued benefit of the employee under the plan”.
  • The term specified ambulatory surgical center means an ambulatory surgical center with respect to which a hospital (or any person with an ownership or control interest (as defined in section 1124(a)(3) of the Social Security Act) in a hospital) is a person with an ownership or control interest (as so defined).
  • (II) has an application for a loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) that is approved or pending approval on or after the date of enactment of this Act.
  • Section 6103(a)(3) of the Internal Revenue Code of 1986, as amended by the FUTURE Act (Public Law 116–91), is further amended by striking (13), (16) and inserting (13)(A), (13)(B), (13)(C), (13)(D)(i), (16).
  • (2) CIVIL MONETARY PENALTIES.—The Secretary of Health and Human Services may impose a civil monetary penalty on any provider of a diagnostic test for COVID-19 that is not in compliance with paragraph (1) and has not completed a corrective action plan to comply with the requirements of such paragraph, in an amount not to exceed $300 per day that the violation is ongoing.
  • (2) ESTIMATED TAXES.—For purposes of applying section 6654 of the Internal Revenue Code of 1986 to any taxable year which includes any part of the payroll tax deferral period, 50 percent of the of the taxes imposed under section 1401(a) of such Code for the payroll tax deferral period shall not be treated as taxes to which such section 6654 applies.

“(B) each reference to ‘no damages obtained under subsection (d)’ shall be treated as a reference to ‘no damages obtained under subsection (d) (including as applied pursuant to section 543(f) of the Public Health Service Act)’.”. “(3) Such record or testimony shall not be used by any Federal, State, or local agency for a law enforcement purpose or to conduct any law enforcement investigation. “(6) ADDITIONAL AMOUNTS FOR SUPPLEMENTAL AWARDS.—In addition to any amounts made available pursuant to this subsection, section 402A of this Act, or section of the Patient Protection and Affordable Care Act, there is authorized to be appropriated, and there is appropriated, out of any monies in the Treasury not otherwise appropriated, $1,320,000,000 for fiscal year 2020 for supplemental awards under subsection (d) for the detection of SARS-CoV-2 or the prevention, diagnosis, and treatment of COVID-19.”. (B) an immunization that has in effect https://www.bookstime.com/articles/epayables a recommendation from the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention with respect to the individual involved.

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