A BILL DESIGNED TO HELP STRUGGLING SMALL BUSINESSES THAT RECEIVED PAYCHECK PROTECTION PROGRAM LOANS TO SURVIVE THE PANDEMIC IS HEADED TO THE GOVERNOR.
A bill designed to help struggling small businesses that received paycheck protection program loans to survive the pandemic is headed to the governor.
Under the bill, businesses can deduct expenses paid with loan money from their taxes.
That puts kentucky in line with federal tax law.
The loans are part of the cares act.
The money is to be used to continue to pay employees and certain other costs during the pandemic.
To date...kentuckians have received 5- point-3 billion dollars from these loans.
Fayette county has a similar provision which helps businesses save on local taxes.
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Action News Now looked back at some of the key events in the 12 months since the stay-at-home order was issued. Anchor Alan Marsden..
