The Daily Edition for Wednesday, April 1, 2020

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Welcome to your daily Impact newsletter!

As a valued member of the Maine State Chamber of Commerce, we plan to stay in touch with you every afternoon, through emails like this one and on Facebook and Twitter, until the pandemic passes. We intend to provide you with the latest state and federal information, as well as highlighting the creativity and innovation that is occuring here in Maine during this unpredictable and rapidly changing time. To assist you in navigating the uncertainties ahead, we have created a diverse and comprehensive collection of web-based resources to help you take care of yourself and your family, your employees, your business, and your community. If there is anything you need, please reach out.

We are here to help in any way we can!

 

 

Governor Mills Requests Major Disaster Declaration from the Federal Government

Governor Mills Extends State's Property Tax Exemption Deadline

Governor also requests federal funding under Title 32 for the Maine National Guard   On Wednesday, April 1, Governor Janet Mills announced that she has submitted a request through the Federal Emergency Management Agency (FEMA) for a Presidential Major Disaster Declaration in light of the significant impact of the novel coronavirus (COVID-19) on the State of Maine. If Governor Mills' request for assistance is approved, Maine people may have access to additional resources that support child care, behavioral health, and legal services, among others, needed in response to the pandemic. The Governor's request is for all 16 counties.   The Governor also requested approval of Title 32 Section 502(f) funds for the Maine National Guard. As the Chief Executive, Governor Mills exercises command over the Guard, and her Proclamation of a State of Civil Emergency allows for their deployment. Approval of the Governor's Title 32 request by the President would mean that the Federal government would absorb the costs of any action taken by the Guard in Maine. At present, the Guard stands ready to assist at the direction of the Governor and their mission could include the use of logistic, medical, transportation, security, rotary and fixed wing aviation, cyber, incident assessment and awareness, and engineering assets to respond to COVID-19.

Governor Janet Mills has issued an Executive Order extending the State's property tax exemption deadline. The order, which took effect yesterday, March 31st, extends the statutory April 1st deadline to either the commitment date of the municipality (the date set each year, usually in July, when the Tax Assessors commit the town's assessment roll to the Tax Collector to allow for the receipt of payment), or 30 days after the termination of the Governor's Proclamation of Civil Emergency, whichever comes first. Extending the deadline will allow Maine people more time to apply for the new Homestead Exemption, which provides a reduction of up to $25,000 in the value of an individual's home for property tax purposes, thereby lowering their property tax burden.   The extended application deadline includes the following property tax exemptions: Property of Institutions and Organizations; Estates of Veterans; Solar and Wind Energy Equipment; Exemption of Homesteads; and Exemption of Business Equipment.   Last year, the Legislature passed, and Governor Mills signed, a law increasing the homestead exemption from $20,000 to $25,000. Maine people may inquire with their Tax Assessors about their respective towns' commitment date. The Commitment Date is the date set each year when the Tax Assessors commit the town's assessment roll to the Tax Collector to allow for the receipt of payment.

 

 

With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds
Following President Trump's signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin announced on March 31 that the U.S. SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need.   The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. "This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed," said Secretary Mnuchin. "Treasury and the Small Business Administration expect to have this program up and running by April 3 so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses." The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees - all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest. The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program. The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.
ASSISTANCE FOR SMALL BUSINESSES   The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. For a top-line overview of the program, CLICK HERE. If you are a lender, more information can be found HERE. If you are a borrower, more information can be found HERE. The application for borrowers can be found HERE.
The U.S. DOL's Wage and Hour Division has posted a temporary rule issuing regulations pursuant to this new Families First Coronavirus Response Act (FFCRA). The U.S. DOL plans to post a recorded webinar on Friday, April 3 to provide interested parties a more in-depth description and help them learn more about the FFCRA. Once it has been posted, you will be able to find this recorded webinar online, as well as frequent updates to the compliance assistance information available there. Lastly, if you have questions that have not yet been addressed in the guidance on the U.S. DOL website, please do not hesitate to reach out through the toll-free help line at 866-4US-WAGE.

 

 

Trump pushes $2 trillion infrastructure package in next coronavirus bill

A recent Washington Post article by Jeff Stein and Seung Min Kim outlined the next phase of the stimulus package. As Sen. Angus King mentioned in our meeting with him yesterday, the fourth phase will focus on infrastructure.   According to the article, President Trump said Tuesday that a $2 trillion infrastructure package should be part of Congress' next response to the coronavirus pandemic, reviving a 2016 campaign pledge to ramp up construction projects despite public health guidance that Americans should stay home and isolated to the greatest extent possible.   Citing extraordinarily low interest rates that have reduced the cost of federal borrowing, Trump said on Twitter that now "is the time" to push forward with an infrastructure package in response to the severe economic downturn caused by the coronavirus that causes the disease COVID-19. Numerous House Democrats have also discussed in recent weeks advancing infrastructure legislation as part of their response to the coronavirus pandemic.

 

 

Updated Information from the Maine Department of Economic and Community Development and the Maine Department of Labor

In response to yesterday's "Stay Healthy from Home" mandate, the Maine Department of Economic and Community Development has updated its list of Essential Business Operations Definitions. In addition, the Maine Department of Labor has also updated its Unemployment Insurance FAQs Regarding COVID-19.

 

 

A Special Webinar Presentation FromThe Maine State Chamber: What Every Employer Needs to Know During Covid-19

As employers have been wrestling with the financial impact of the COVID-related shut-down of major sectors of the Maine and U.S. economies, there has been an avalanche of remedial legislation at both the state and federal level directed at easing the impact on employers and employees alike. However, when legislation is enacted this quickly, it's inevitable that it will create many questions.   This webinar will get you up to speed on the latest guidance and understanding concerning the emergency paid sick leave, expanded Family Medical Leave, and payroll tax credit provisions of the Families First Coronavirus Response Act. We'll do the same for the enhancements to unemployment benefits under the CARES Act and Maine's Emergency Unemployment Act.   Join Katy Rand of Pierce Atwood and Peter Gore of the Maine State Chamber as they help you understand what you need to know to make critical decisions for your workforce and your business.   To register in advance for this meeting, please click here. After registering, you will receive a confirmation email containing information about joining the meeting. If you have questions you'd like to make sure we answer, please click here to submit them.

 

 

Listen to This Week's Edition of The Bottom Line

Sen. Angus King (I-ME) is this week's special guest on The Bottom Line podcast broadcasting live at 10:00 a.m. on Thursday, April 2, 2020. King will join The Bottom Line co-hosts Dana Connors of the Maine State Chamber of Commerce and John Williams of Williams Broadcasting to discuss the latest developments and challenges businesses are facing due to the COVID-19 pandemic, and programs available to businesses and individuals during the COVID-19 pandemic through the federal rescue package, the Coronavirus Aid, Relief and Economic Security (CARES) Act. To listen live, visit www.williamsbroadcasting.net scroll down to "Listen Online," or catch up with the archived shows.

 

 

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