| Covid-19 | Aug 25, 2020

Treasury Updates Coronavirus Relief Fund FAQs and Issues New Information on Tribal Awards

The Treasury issued updated Coronavirus Relief Fund FAQs (see questions 49 – 52), clarifying and mostly reiterating technical requirements covering: • That states are permitted to use payments from the Fund to satisfy 100% of their cost share for lost wages assistance as authorized by the Stafford Act to the extent that costs are related to COVID-19 and otherwise satisfy the Fund’s eligibility criteria;• At what point costs are considered “incurred” when funds were used to make a loan; and• Relevant IRS guidance about using Coronavirus Relief Funds to establish grant or loan programs to support businesses