On Friday, February 5, 2021, Pennsylvania Governor Tom Wolf signed PA Senate Bill No. 109, to provide support to PA businesses during the Covid Pandemic.
The legislation includes the following provisions:
1) The income realized from the forgiveness of loans under the Paycheck Protection Program (PPP) is specifically excluded from Pennsylvania Income tax
2) The stimulus payments received in 2020 will not be subject to Pennsylvania income tax
3) Authorization for grants up to $50,000 for bars, restaurants, and hotels with fewer than 300 employees
4) Authorization for emergency funding for non-public schools that have not received government assistance previously
5) Authorization for assistance to lessors and mortgagors
6) Authorization for rental and utility assistance