RISCPA/RI BUSINESS FORUM NEWS RELEASE AUGUST 5, 2020
NEWS AND UPDATES:
- Governor Raimondo discussed new advisories in place for Rhode Islanders traveling to Connecticut, New York, New Jersey and Massachusetts. Anyone traveling to these states will be required to quarantine for 14 days. The Governor said everyone should be concerned and said, “It should certainly be a wake-up call to the people of Rhode Island that we need to do better. If we don’t follow the rules, things like this will happen.”
- The Restore RI Grant program: https://commerceri.com/about-us/restore-ri/ is now open. The program is targeted at small businesses that have been most severely impacted by the COVID-19 pandemic and provides eligible businesses with grants of up to $15,000. Assistance is being offered for anyone needing support or information on the program including tutorials on the process.
- Effective Sunday, August 9th, anyone checking into a hotel, vacation rental or other lodging, will be required to sign a certificate of compliance regarding quarantine, guests will not be allowed to check-in without this document; the process is similar to what they are doing in Maine.
- Data shows that bars continue to be a problem in Rhode Island; the Governor reported that at least 20% were not in compliance with regulations in place. Because this continues to be a problem, beginning this Friday, bar areas will need to close by 11 pm – including restaurants.
- Governor Raimondo announced the state has contracted with Accu Reference and Dominion Diagnostics located in RI to offer COVID-19 testing to expand capacity with a guaranteed turn-around of 48 hours. Beginning next week, each company will do 1000 tests per day, for a total of 2000 per day and will continue to increase capacity in the coming weeks.
- The Governor announced focus on five key areas regarding Readiness for Back to School Fall 2020:
- Executive Orders extended to September 4th:
- Telemedicine coverage
- Cloth face coverings must be worn in public
- State of Emergency (Disaster declaration)
- Quarantine regulations (includes newly added rules) remain in place
Visit https://governor.ri.gov/newsroom/orders/ for a complete list of Executive Orders.
Phase 3 Guidelines: https://www.reopeningri.com/
SBA AND TREASURY ANNOUNCE PPP FORGIVENESS UPDATES: FAQs on PPP Loan Forgiveness: As of August 4, 2020
PPP LENDING REPORT THROUGH JULY 31ST: PPP Approvals Through 7-31-2020
EIDL Program Updates - Small Business Guidance & Loan Resources
Upcoming SBA training: August 5 - August 26, 2020
Richard J Petrucci, Jr. Joins PG&Co as Partner: Press Release
Legislative Committee Calendar Week of August 3rd:
All committee hearings have been canceled at the State House this week
COVID-19 Rhode Island Stats:
- Total number of cases: 19,481
- New cases: 84
- People hospitalized: 79
- Total Number of Deaths: 1012
- Total number of tests: 384,902
SPECIAL REPORT: Key Questions Remain in Proposal to Shore Up Flagging RIte Share Program:Key Questions Remain
- Governor Raimondo announced a new initiative, Back to Work RI, an innovative $45M plan to train and support Rhode Islanders who have lost jobs as a result of the crisis. The initiative, which partners with businesses and other key stakeholders, is focused on getting displaced residents back to work; RISCPA is proud to partner with RI Department of Labor for this program. The program, funded through Federal CARES Act, is being launched in addition to the Restore RI and RIse Together, initiatives announced previously. For more information, visit RI DLT website: https://dlt.ri.gov/backtoworkri/
- Governor Raimondo noted the Phase 3 order (currently in place) was expiring and provided criteria in place for moving between phases and an update on where things stand now. Although the positivity rate remains steady, she cited concerns with the “Rate of Spread”, currently at (R Value) 1.3-1.4 which does not meet the criteria established for moving to the next phase, which is (R Value) 1.1 or lower. As a result, Phase 3 will be extended for 30 days (through August 28th). Phase 3 protocols remain in place with one exception: social gathering limits will be reduced.
- Governor Raimondo announced $100k in grants for nursing homes to help residents connect with loved ones; facilities will receive up to $3,000 to purchase smart devices and related accessories.
- AICPA and CPA.com announced the launch of PPP loan forgiveness tool, for more information, visit: https://www.pppforgivenesstool.com/
- Domestic quarantine restrictions are now in place for anyone traveling to Rhode Island from states with a 5% or greater positivity rate. Exceptions will be made for anyone who has tested negative in their home state during the past 72 hours. The list of states will be updated weekly: https://coronavirus.jhu.edu/testing/testing-positivity
- Governor Raimondo joined 39 other states asking President Trump to grant an extension to Rhode Island to use the National Guard through the end of the year. President Trump previously signed a provision extending the use of the National Guard for Rhode Island to August 21st (full federal reimbursement).
- Rhode Island Small Business Development Center is hosting a series of free seminars to help small businesses with their marketing needs. For more information, please visit: https://www.risbdc.org/workshop.aspx?ekey=70400014
- IRS Nationwide Tax Forums: Seminar dates, times now available: https://www.riscpa.org/writable/files/ir-20-123_nationwide_tax_events.pdf
- Department of Motor Vehicle services are available online. DMV Headquarters in Cranston and Middletown locations are available by appointment only; other locations remain closed.
- DLT email for employers with employees refusing work or otherwise ineligible to receive benefits: email@example.com.