Is there an exemption for rehires?

FAQ Answer

The circumstances related to the amount of loan forgiveness shall be determined without regard to a reduction in the number of FTE employees of an eligible recipient or a reduction in the salary of 1 or more employees of the eligible employer, as applicable, during the period beginning on February 15, 2020 and ending on the date that is 30 days after the date of enactment of this Act. 

In a circumstance described below, the loan forgiveness shall be determined:

  • In which
    1. During the period beginning on February 15, 2020 and ending on the date that is 30 days after the date of enactment of this Act, there is a reduction, as compared to February 15, 2020, in the number of FTE employees of an eligible recipient; and
    2. Not later than June 30, 2020, the eligible employer has eliminated the reduction in the number of FTE employees;
  • In which
    1. During the period beginning on February 15, 2020 and ending on the date that is 30 days after the date of enactment of this Act, there is a reduction, as compared to February 15, 2020, in the salary or wages of 1 or more employees of the eligible recipient; and
    2. Not later June 30, 2020, the eligible employer has eliminated the reduction in the salary or wages of such employees; or
  • In which the events described above occur.
FAQ Weight
22