The Coronavirus Aid, Relief, and Economic Security (CARES) Act

 

The Bill applies to arts organizations, arts workers, and artists. There is relief for non-profit organizations, small businesses, independent contractors, and self-employed individuals.

The Bill calls for:

Paycheck Protection COVID-19 relief loans.

Organizations, including 501(c)(3) non-profits, and self-employed individuals will have access to forgivable loans through a streamlined application process intended to provide rapid relief, keep workers on the payroll, and help self-employed workers. Independent contractors and those who are self-employed can begin applying on April 10, 2020.

Applicants may apply to their lender for loan forgiveness. 

A borrower shall be eligible for loan forgiveness equal to the amount spent by the borrower during an 8-week period after the origination date of the loan.

Pandemic unemployment assistance for workers, including self-employed individuals.

Unemployment benefits will be expanded to provide an additional $600 per week above the amount allowed under state unemployment benefits, for four months. 

Money granted to the National Endowment for the Arts (NEA) to distribute to non-profit arts organizations.

 

Full Text of Bill

Section by Section Summary of Bill

 

 

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