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Maine Bill Would Exclude Forgiven Virus Loans From Income
By Jaqueline McCool
· 2021-02-02 11:50:53 -0500
Maine would exclude from income small-business loans that were forgiven as a response to the novel coronavirus pandemic, under a bill introduced in the state Senate.
S.P. 124, which Sen. James Dill, D-Old Town, introduced Monday, would exclude forgiven Paycheck Protection Program loans that were given under the
Coronavirus Aid, Relief and Economic Security Act ![](//www.law360.com/images/lexis_advance/kb-icon-red.png)
from state income. The forgiven loan amounts are currently excluded from federal gross income.
--Editing by Robert Rudinger.
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