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GOVERNOR'S DAILY BRIEFING – Tax deadline extended, more support for small businesses

IDPH Director Dr. Ngozi Ezike reported 330 confirmed cases, including three deaths. COVID-19 cases have been confirmed in 35 counties.

Helping businesses news:

In the interest of protecting small businesses and the unemployed, Gov. Pritzker spoke today about programs he and Treasurer Frerichs have instituted for economic relief during the COVID-19 pandemic response. Among measures the governor's DCEO and the Treasury are taking:

  • The state income tax filing deadline has been extended to July 15, in line with the federal deadline delay. Refunds will continue to be distributed "in a timely fashion," the governor said.
  • DCEO is administering a small business emergency loan program to companies with fewer than 50 employees or less than $3 million in 2019 revenue.
  • Suburban and downstate communities with low to moderate income will have access to a small business stabilization grant program, with grants up to $25,000.
  • A $14 million grant program for the hospitality industry's use in training, obtaining tech for delivery, and rent payments will be made available.
  • The governor has asked banks and credit unions to adopt similar forbearance measures to the state's, has asked the credit bureaus not to lower credit scores as a result of COVID-19, and during the press conference urged those with mortgages to reach out to the companies that hold them for information about relief.

Treasurer Frerichs clarified that the state's investment portfolio cannot, by statute, be invested in the stock market, and that his office is taking steps to protect the state's portfolio and assist residents and business owners. Some of the measures he's taken:

  • The Treasurer's Office has expanded its unclaimed property recovery operations in order to get unclaimed money to its rightful owners more quickly.
  • They’ve created $250 million bridge loan program in order to help banks lend to small businesses in the interest of paying rent, buying supplies and making payroll.
  • They’ve made a $200 million investment in loans intended to help people pay medical bills.

Pritzker expressed hope that action in Washington could mean relief coming for Illinoisans, but both he and Frerichs reiterated that medical minds should determine when social distancing measures be lifted.

COVID-19 Links

Illinois.gov

Illinois Department of Public Health

Centers for Disease Control and Prevention

Illinois Department of Employment Security - Unemployment Benefits

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