Saul Ewing Arnstein & Lehr’s COVID-19 Weekly Digest

Below please find League Business Leaders Network member Saul Ewing Arnstein & Lehr’s COVID-19 weekly digest, which includes our analysis of the most current legal developments related to this pandemic. To receive regular updates, news and information related to COVID-19, please register here.

COVID-19 Updates

  • Phase 2 of Delaware Economy Reopening in Response to COVID-19
    Delaware Guidance
    Effective June 15, 2020, Governor Carney has announced that Delaware is moving to Phase 2 of the reopening of Delaware’s economy. His decision is largely based upon the following: continuing decline in the percent of positive cases of COVID-19 in Delaware, the implementation of testing programs for healthcare workers, the availability of widespread testing for COVID-19 throughout Delaware, the implementation of contact tracing, adequate supplies of personal protective equipment and continual monitoring of the COVID-19 situation.
  • IRS Notice 2020-39 Provides Significant COVID-19 Relief to Qualified Opportunity Zone Projects and Investors
    Opportunity Zones and Qualified Opportunity Funds
    In response to the ongoing COVID 19 pandemic, the IRS has given investors an extension of time to invest in Qualified Opportunity Zone projects, and has given Qualified Opportunity Funds (“QOFs”) and Qualified Opportunity Zone Businesses (“QOZBs”) additional time to satisfy certain statutory requirements. These extensions are described in IRS Notice 2020-39 (the “Notice”), released on June 5.