COVID-19 Relief Bill Helps PA Small Businesses & Residents

Last Friday, Pennsylvania Governor Tom Wolf signed legislation providing additional COVID-19 relief.

The Covid-19 Relief Bill provides funds to establish the Hospitality Industry Recovery Program, provides for emergency education relief to private schools, and establishes the Rental and Utility Assistance Grant Program along with additional relief.  The $912-million package is made up mostly of funds provided to the state through Congress’ Consolidated Appropriations Act of 2021 approved on December 27, 2020.

The new law allocates $145 million to the state’s hospitality industry, which Wolf made available in December through a transfer from the Workers’ Compensation Security Fund at the state Insurance Department to the General Fund. The bill also allocates $570 million for rental and utility assistance and $197 million for education programs.

Funding for the Rental and Utility Assistance Program will be divided up to counties by population size. The funds must be spent by September 30 or be returned to the federal government. The funds will not be available for applicants until March.

The COVID-19 Relief Bill was amended last week to exempt income from Pennsylvania Personal Income Tax that businesses receive from federal Paycheck Protection Program loan forgiveness.

This COVID-19 Relief Bill is welcome support to the financial strain on businesses and individuals since the onset of this pandemic.

COVID-19 Relief Bill can be found HERE.

We’re here to help.

For more information about COVID-19 tax relief measures and other issues, visit the special section on our website.