June 3, 2020: Written by Anthony J. Vizzoni, Esq. and Christopher Leddy, Esq.
In the ever changing landscape of the Payroll Protection Program ("PPP"), last night, June 3, 2020, the Senate passed the House version of H.R.7010 -Paycheck Protection Program Flexibility Act of 2020 (the "Act"). The Act has now been sent to the President's desk for enactment. The purpose of the Act is to give more flexibility in the use and the timing of use of PPP funds, and in doing so amends significant provisions of the PPP.