The U.S. Congress has passed legislation to provide relief for tax-exempt organizations, allowing offsets of the costs of unemployment benefits provided for the organizations’ workers who received unemployment insurance payments.
The House of Representatives on July 9, 2020, passed S. 4209, Protecting Nonprofits from Catastrophic Cash Flow Strain Act of 2020. The bill was passed by the Senate on July 2, 2020. The next step is for the bill to be enrolled and sent to the White House for action by the president.
Read text of the bill: S. 4209
With passage by the House, the Ways and Means Committee issued a release noting:
The legislation would provide cash-flow relief for tax-exempt organizations that “self-insure” and that now must reimburse states for employees that claimed unemployment insurance during the COVID-19 pandemic.
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Preston Quesenberry | +1 202 533 3985 | firstname.lastname@example.org
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