Trump Signs $484 Billion COVID-19 Relief Bill into Law

Friday, April 24, 2020 - 10:15am

President Donald Trump today signed the $484 billion COVID-19 relief bill into law, providing $380 billion for small businesses, $75 billion for hospitals and $25 billion for disease testing. The Paycheck Protection Program and Health Care Enhancement Act includes $60 billion in Paycheck Protection Program funding for small- to medium-sized insured depository institutions, credit unions and community financial institutions, which include Community Development Financial Institutions (CDFIs). Half of that $60 billion is for institutions with between $10 billion and $50 billion in assets, the other half is for those with less than $10 billion in assets.

For community development, affordable housing and renewable energy updates related to COVID-19, see Novogradac’s dedicated page.