On Wednesday, June 3rd, 2020, the Senate passed the Paycheck Protection Program Flexibility Act (the “Flexibility Act”). The House passed the bill (H.R. 7010) last week, and the President signed the bill into law on June 5. The Flexibility Act provides much needed relief for businesses by extending the “covered period” for loan forgiveness under the Paycheck Protection Program (“PPP”) to 24 weeks and reducing the amount of loan proceeds that must be spent on payroll costs to be eligible for forgiveness from 75% to 60%.  Read more about what the Flexibility Act means for your business here.

Title III of the Americans with Disabilities Act (ADA) prohibits discrimination on the basis of disability in the activities of places of public accommodation.  In the past 7 years, the number of ADA Title III federal lawsuits has more than quadrupled, with 11,053 suits filed in 2019.  On May 15, 2020, Fishman attorney Mike Dodson participated in a panel that presented this important topic at the American Bar Association’s Annual Real Property Trusts & Estates (RPTE) National CLE Conference (The Virtual Experience 2020).  Mike discussed the applicability of Title III and key considerations, such as architectural standards for new and altered buildings, reasonable accommodations to policies, practices, and procedures, and effective communication with people with hearing, vision, or speech disabilities.  In addition, Mike explained various avenues to achieve compliance, pre-suit, and how to defend Title III claims in litigation.  Read about the presentation here.  

Fishman Haygood Partner, Charles Landry, is honored by the Baton Rouge Area Foundation as the winner of the 2020 Marcia Kaplan Kantrow Baton Rouge Visionary award for using his skills and determination to implement the master plan for downtown Baton Rouge.  Charles helped the state consolidate its rented spaces into state-owned Art-Deco inspired buildings on North Street.  He was also central to the expansion of downtown hotels, beginning with the success of the Capital House Hotel.  Charles was also an early proponent of and the legal mind behind much of the Arts Block, including its early anchor, the Shaw Center for the Arts, and the many new restaurants and apartments that followed.  BRAF selects award winners whose vision and action fosters smart growth of the Capital Region based on New Urbanist principles.   Read more about Landry’s award in BRAF’s magazine Currents.

Because the overall market has performed well over the past several years, a great deal of investor losses and broker misconduct has gone undetected.  Many investors have lost money in the recent decline of the market due to COVID-19, but for some investors, negligence or other misconduct on the part of a broker or financial advisor has caused excessive and unnecessary losses that could have been prevented.  Fishman Haygood’s team of securities lawyers is here to help.  Click here for more information.

As more investors eye lucrative investment opportunities in Qualified Opportunity Zones, the SEC and state regulators will be monitoring securities activities associated with the program. Maureen Gershanik advises that, at the federal level, careful compliance with these four areas of securities regulations will help avoid costly violations that could delay or even prevent a transaction: Securities Offering Regulation, Broker-Dealer Regulation, Investment Adviser Regulation, and Investment Company Act Regulation.  Learn more in Maureen’s article that was recently published by the ABA Probate & Property Magazine.

The Community Development Financial Institutions (CDFI) Fund today announced the opening of the calendar year 2019 allocation round of the federal new markets tax credit (NMTC). Applications are due October 28, 2019. The CDFI Fund anticipates announcing 2019 NMTC awards in summer 2020. The CDFI Fund provides resources including an introduction to the NMTC program, the NMTC program application, the Notice of Allocation Availability (NOAA), an Awards Management Information System navigation guide, an application FAQ and an application roadmap presentation here.