The sweeping coronavirus aid package set for a House vote today provides $349 billion for the Small Business Administration to guarantee loans to small businesses. The legislation calls for the loan money to be distributed using the existing framework of the Small Business Administration’s 7(a) program. The 7(a) program is a joint partnership between private [...]
Coronavirus-related paid leave for workers and tax credits for small and midsize businesses The US Treasury Department, IRS and Department of Labor issued a joint announcement that small and midsize employers can take advantage of two new refundable payroll tax credits designed to immediately and fully reimburse them, dollar for dollar, for the cost of [...]
The Equal Employment Opportunity Commission (EEOC) issued an update to its 2009 pandemic guidance, “Pandemic Preparedness in the Workplace and the ADA.” The updated guidance advises employers that: Employers should follow guidance from the Centers for Disease Control (CDC) as well as state and local public health authorities on how best to slow the spread [...]
On March 18, 2020, the Senate passed the Families First Coronavirus Response Act, which President Trump signed last night and will become effective April 2, 2020. The below is a general summary and is not intended to be entirely comprehensive. The following is a brief overview of the Act: Expanded Family Medical Leave Act (FMLA) [...]
Our Chicago business law firm advises clients across multiple industries, market sectors, and various stages in the supply chain regarding numerous Coronavirus-related issues. Companies need to understand where the law, the virus, and their businesses intersect. Whether in retail, entertainment, transportation, or manufacturing, as factory production slows in line with the reduction of workforces, clients [...]
Illinois employers are going through one of the most sweeping sets of legal changes in state history. With over 250 new laws taking effect this week, as well as hundreds of other extensive amendments to existing laws, Illinois employers need to take immediate action to remain in compliance with Illinois laws. The penalties for legal [...]
Illinois law that was signed on February 19, 2019 and that will go into effect on January 1, 2020 amends the Illinois Minimum Wage Law and Illinois Income Tax Act. The law provides for an increase to the minimum wage in Illinois to $15.00 per hour by the year 2025. Under this new law, the [...]
The City of Chicago Council unanimously approved a new ordinance which went into effect on July 1, 2017. This ordinance requires every employer in Chicago to provide their employees who work within the city limits and work 80 or more hours within a 120-day period with at least some paid time off for sick leave. [...]
