On April 6, 2020, the Judicial Council of California, the policymaking body of the state’s court system, adopted emergency rules as a result of the COVID-19 pandemic. Emergency Rule 1 effectively places a state-wide moratorium on all evictions—both residential and commercial. First, “A court may not issue a summons on a complaint for unlawful detainer unless” the court finds eviction “is necessary to protect public health and safety.” (Emergency Rule 1(b).) This ban on future evictions will not be lifted until 90 days after the Governor declares an end to the state of emergency related to the COVID-19” or until
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On March 26, 2020, the US Environmental Protection Agency issued its Memorandum entitled “COVID-19 Implications for EPA’s Enforcement and Compliance Assurance Program.” As spelled out in greater detail in this 7 page document, retroactive to March 13, 2020, US EPA will be exercising its enforcement discretion for certain noncompliance due to the COVID-19 pandemic. Gary A. Meyer provides an environmental law update discussing the US EPA Memorandum and how COVID-19 is impacting environmental compliance obligations. >> Read the article.
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As California employers endure the economic slowdown and impact of State and local isolation orders, they must also act swiftly to update employment policies and practices based on a series of new laws enacted at the Federal, State and local levels. These laws focus on worker protections and requirements for additional paid leave. However, certain provisions also afford important rights, benefits and options to eligible employers, including potential tax credits, refunds and preferential borrowing. Parker Milliken’s labor and employment department is closely following all developments relevant to employers, which include but are not limited to: California Executive Order N-33-20 &
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As a result of COVID-19, significant legislation, executive orders, and local ordinances have been issued greatly affecting lenders in general, as well as lenders that specialize in lending to specific sectors of the economy. For example, recent developments arising from COVID-19 have both direct and indirect impact on multifamily lending. In fact, the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act”, signed into law on March 27, 2020, has at least two separate sections that may directly impact multifamily lenders. The following is a very condensed summary of the recent legislative and executive actions arising in response
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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among the provisions of this wide-reaching legislation designed to address the COVID-19 pandemic are several which directly impact financial institutions, including: The Payment Protection Program is implemented under the Small Business Act and provides for fully guaranteed loans through December 31, 2020 to businesses with 500 or fewer employees, who were in operation as of February 15, 2020 and adversely affected by COVID-19, to maintain, among other things, payroll, mortgage payments, lease payments, and utility payments. The program is available to
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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among the provisions of this wide-reaching legislation designed to address the COVID-19 pandemic, the CARES Act provides increased loans and loan guarantees for small businesses. While the details of the newly approved loans and loan guarantees are complicated, the following provides a condensed summary of these loan programs. Small Business Administration Loans In the Keeping American Workers Paid and Employed Act (KAWPEA) [Sections 1101 et seq. of the CARES Act], Congress appropriate $349,000,000,000 for small business loans. These small business loans
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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). While much of the CARES Act focuses on providing economic relief to individuals and businesses impacted by COVID-19, certain provisions of the Act will have direct and indirect impacts on real estate holdings. The following provides a summary of the key provisions that will impact real estate holdings: [Section 2307] The CARES Act provided a much needed technical amendment to Internal Revenue Code section 168, by providing that a “qualified improvement property” will now have an intended 15-year life rather than
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