On March 12, the U.S. Small Business Administration released that clarifies the Lobbying Disclosure Act definition of 鈥渓obbying鈥� expenses and will be used to calculate the 15% thresholds for 501(c)(6) organizations receiving Paycheck Protection Program loans. Since December, in calculating lobbying activity and has continued to push the administration to release clear guidance on this critical issue for 老牛影视and its chapters.

The LDA definition should be better for most 老牛影视chapters than the IRS definition, since the LDA definition is narrower.

The new law, passed in December, made 501(c)(6) organizations eligible to apply for PPP loans as long as they are not engaged in 鈥渟ignificant lobbying activities,鈥� meaning:

1. No more than 15% of revenues are received from lobbying activities;
2. No more than 15% of total activities comprise lobbying activities; and
3. Lobbying activity costs did not exceed $1 million during the most recent tax year ended prior to Feb. 15, 2020.

The LDA definition now adopted by SBA does not require chapters to report state lobbying and grassroots lobbying expenses, which would have been a concern if SBA had adopted the IRS definition of lobbying. More than $100 billion remains in the PPP, which expires at the end of the month. The guidance states that eligible nonprofit organizations that wish to apply for remaining PPP funds should submit their applications no later than March 31, 2021. However, on March 16, the U.S. House passed legislation, , to extend the PPP application period from the current March 31 deadline through May 2021 by a . Senate Majority Leader Schumer has expressed his hope for quick action in the Senate to get this bill to the president鈥檚 desk for his signature. 老牛影视will inform members about this action in Newsline.