On July 27, 2020, the Senate released a series of bills that will offer relief to individuals, families, and businesses still facing hardships posed by the pandemic. The eight bills make up the Health, Economic Assistance, Liability protection and Schools (HEALS Act).1 The House of Representatives passed the HEROES Act in May, and now Congress will negotiate the provisions included in these bills over the next few weeks for a final bill that will likely be signed into law. The link includes a summary of the HEALS Act provisions that most directly impact REALTORS®, consumers, and the real estate industry as a whole. These include the liability shield for businesses, second draw on the PPP loan and COVID assistance changes for independent contractors. The bills, once passed by the Senate, will go to the Democrat-led House of Representatives where it is expected to face some challenges with regard to the included business liability shield and the size of the unemployment benefits package. We will continue to monitor this issue.
More information HERE.