Policy Update: Infrastructure Bill, Paid Sick and Family Leave Tax Credits, and More
Nonprofit Connect works to keep Members updated on policy changes that affect nonprofits through Policy Updates. These messages provide brief information on what is going on in federal government and policy that may be of interest to the nonprofit community.
$1 Trillion Infrastructure Bill Text Finalized
On Sunday, the 2702-page text of the Infrastructure Investment and Jobs Act was made public. Senators hope to debate and vote on the bill as early as this week. Related to nonprofits:
- Creates a $50 million pilot program to support nonprofit energy retro fits to promote energy efficiency
- Includes nonprofit eligibility for broadband and other grant programs
- Shortens the employee retention tax credit so it would end on October 1, 2021
- Rescinds about $31 billion in funds made available for the Economic Injury Disaster Loan Program, for which nonprofits were eligible
IRS Releases More Guidance on Paid Sick and Family Leave Tax Credits
The American Rescue Plan made paid sick and family leave tax credits available. The IRS released updated frequently asked questions, which make it clear that eligible employers (including nonprofits) can claim the refundable payroll tax credits for providing leave to employees so they can accompany a family or household member to obtain COVID-19 immunization, or to care for a family or household member recovering from the immunization.
Learn more.
SBA Streamlined the Forgiveness Application for Paycheck Protection Program loans of $150,000 or less
Last week, a new portal opened to allow borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through SBA. This process will skip the step in second draw PPP loans of proving that revenues declined in a quarter by 25%. The portal will start accepting applications on August 4th.
Learn more.
Advocacy Opportunity - Attend a Webinar on ARPA Funds for Nonprofits
On Tuesday, August 10, the National Council of Nonprofits is hosting a free webinar to help nonprofits tap into ARPA funds at the state and local levels. Using the recent Special Report as a foundation, you’ll hear from an inspirational Mayor and nonprofit leaders from across the country who will share their hands-on experiences working with governments and nonprofits to develop effective COVID-related relief programs.
Register Here.
Advocacy Opportunity – Sign onto a Nonprofit Priorities Letter
The National Council of Nonprofits and over 1,000 signatories have endorsed a letter communicating policy and funding priorities of nonprofits to the United States Senate. Asks include passing the Work Opportunities and Resources to Keep Nonprofit Organizations Well Act, extending the Employee Retention Tax Credit, appropriating funds for emergency grant programs, and providing more incentives for charitable giving.
Sign on here.
This post was written by Kristen Wood, Nonprofit Connect's Advocacy Contributor.
Kristen is an avid participant in Kansas City’s nonprofit community and a self-proclaimed ‘lifetime learner’. In addition to working for Goodwill of Western Missouri & Eastern Kansas, she enjoys following nonprofit policy issues.
If you have any questions on Policy Updates, please reach out to Nonprofit Connect’s Marketing Manager, Colin Bennett, at cbennett@npconnect.org.
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