Maine Bill Would Exclude Forgiven Virus Loans From Income

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 from state income. The forgiven loan amounts are currently excluded from federal gross income.

--Editing by Robert Rudinger.

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