CARES Act: A Summary for Nonprofits
The Coronavirus Aid, Relief and Economic Security Act (CARES ACT) (H.R. 748) passed the Senate just before midnight on March 25, 2020. The House of Representatives is expected to pass the bill by the end of the week and send the measure to the President’s desk for signature.
Prior COVID-19 Legislation
On March 6, Congress approved an initial emergency aid package totaling $8.3 billion. The Coronavirus Preparedness and Response Supplemental Appropriations Act (H.R. 6074) increased funding for testing of the COVID-19 virus and lowered costs for related medical treatments.
On March 18, the Families First Coronavirus Response Act (H.R. 6201) passed Congress and was signed into law by President Trump. A summary of H.R. 6201 can be found here.
The CARES ACT (H.R. 748) contains several provisions that are relevant to nonprofit organizations and the communities they serve.