Feb 25, 2021
HOUSE & SENATE HEARINGS ON POWER OUTAGES SCHEDULED FOR FEBRUARY 25, 2021
The Texas House and Senate have scheduled hearings to examine and discuss factors that led to statewide power outages over the week of February 19, 2021. Your Chamber will be tuned in, but all are invited to participate.
House Energy Resources and House State Affairs will meet in a joint hearing at 9:00 AM on Thursday, February 25, 2021 to “consider the factors that led to statewide electrical blackouts during the recent unprecedented weather event; the response by industry, suppliers, and grid operators; and changes necessary to avoid future power interruptions.” The notice can be found here.
Senate Business & Commerce will also meet at 9:00 AM on Thursday, February 25, 2021 to “examine extreme weather condition preparedness and circumstances that led to the power outages as directed by Electric Reliability Council of Texas (ERCOT). The committee will also review generator preparedness and performance, utility outage practices, natural gas supply, and the reliability of renewable generation, as well as overall ERCOT system resilience.” The notice can be found here.
FEDERAL DISASTER ASSISTANCE AVAILABLE THROUGH THE U.S. SMALL BUSINESS ADMINISTRATION
If your business was impacted by the recent severe winter storms and is located in a declared disaster area, you may be eligible for a low-interest federal disaster loan through the SBA.

The SBA has published a fact sheet with more information on loan eligibility, specifics regarding interest rates and other loan details. To apply for a disaster assistance loan through the SBA, visit the SBA's Disaster Loan Assistance website.

The SBA has also established two new resources to help address disaster loan questions. Starting February 23, 2021, The Virtual Business Recovery Center and The Virtual Disaster Loan Outreach Center may be reached Monday through Friday between 7 a.m. and 7 p.m. by calling (800) 659-2955 or emailing FOCWAssistance@sba.gov.

For individuals interested in all forms of disaster assistance, those affected must first contact the Federal Emergency Management Agency (FEMA). To determine if you are eligible to apply, visit the FEMA website to see if you are located in a disaster area. You may also review FEMA's FAQs on the application process.

To get updates on any new information regarding these resources and other COVID-19 recovery resources through the SBA, please visit the SBA's website.

Texans are resilient, and have experience recovering from weather emergencies by all working together. Thank you for all you do for the great state of Texas! And please remain #TexasBizStrong.
IRS MOVES TAX DEADLINE BACK TO JUNE 15 FOR TEXANS AND THEIR BUSINESSES IN WAKE OF WINTER STORM
The Internal Revenue Service has moved the tax-filing and payment deadline for individuals and businesses in Texas to June 15 because of damage across the state caused by the severe winter storms. Texans in all of the state’s 254 counties will automatically be given the extra two months to file and pay their individual and business taxes. The normal filing deadline is April 15.
 
Texans who receive a late-filing penalty notice are encouraged to call the IRS to have it abated. The extension applies to a variety of filing deadlines that fell after Feb. 11, including those for 2020 business returns, originally March 15, and quarterly payroll and excise tax returns, normally April 30.
 
Now they are all due June 15, the agency announced in a press release Monday. Texans will also have until then to make their 2020 IRA contributions. People affected by the same storms in other states may qualify for the same relief if they live in a FEMA-declared disaster area. A list of eligible locations will be posted on the IRS website. The IRS will also work with people assisting with relief in the affected areas who work for recognized governmental or philanthropic agencies. Taxpayers in federally declared disaster areas can claim uninsured or unreimbursed disaster-related casualty losses on their federal income tax returns this year. Texans make up about 9% of the country’s population, meaning close to 1 in 10 Americans will be receiving an extension this tax season. 
NEW ROUND OF PAYCHECK PROTECTION FUNDING OPEN
A new round of Paycheck Protection funding is now available and will run through March 31. For the first two weeks, through Wednesday, March 10, employers with fewer than 20 employees will have exclusive access to apply.
 
The exclusive window is designed to provide lenders and community partners more time to work with very small local businesses, particularly those owned by women, minorities, veterans and underserved communities while also ensuring larger PPP-eligible businesses will still have plenty of time over three weeks to apply for and receive support before the program expires.
 
The new round of funding also includes other changes aimed at improving access for sole proprietors, independent contractors and self-employed workers, including how they calculate their loan amounts.
 
To get find participating lenders or get more information, visit the SBA's Paycheck Protection Program landing page. 
CONNECT ABILENE VIRTUAL OPEN HOUSE
Public Open House presentation for the 2040 Comprehensive Plan Update. Meeting will include a brief presentation of the progress to date, a walk-thru of the Virtual Open House, and an opportunity to ask questions of city staff and Halff Associates (Consultant).
TEXAS SERVICE SECTOR OUTLOOK SURVEY
Activity in the Texas service sector increased slightly in February, according to business executives responding to the Texas Service Sector Outlook Survey. The revenue index, a key measure of state service sector conditions, picked up from 0.8 in January to 2.6 in February.

Labor market indicators suggest slight gains in employment and average hours worked in February. The employment index added about one point to rise to 2.7, while the part-time employment index was roughly flat at 1.3. The hours worked index rose from 1.6 to 3.3, with nearly 11 percent reporting lengthening employees’ hours.

Perceptions of broader business conditions improved compared with January. The general business activity index rebounded into positive territory, rising over six points to 5.0, while the company outlook index improved from 1.0 to 2.7—its best reading since last October. The outlook uncertainty index declined from 6.4 in January to 1.7 in February, and the capital expenditures index rose to a one-year high of 7.0.
WHAT WE'RE READING

Atmos Energy Addresses Customer Bills Following Historic Winter Storms

Atmos Energy understands customer concerns that the recent extreme weather may affect their natural gas bills, so we want to assure customers that bills in the near-term will not include any of the unusually high gas prices from the historic winter storms.


The Smallest Businesses Are Getting Extra PPP Help

For two weeks, starting today, the Small Business Administration will only accept applications for PPP loans from firms with fewer than 20 employees.
You don't want to miss these upcoming events for
your business.

FEB 25 TABLE FOR 10 LUNCH EVENT Abilene Young Professionals presents our newest networking opportunity - Table for 10. Join us at 12:00 PM noon at Betty Rose's Little Brisket for conversation and networking! Click here to sign up.

FEB 25 TABLE FOR 10 EVENING EVENT Abilene Young Professionals presents our newest networking opportunity - Table for 10. Join us at 5:30 PM to meet new people and enjoy great food, with an appetizer on the house thanks to our partner at Betty Rose's Little Brisket! Click here to sign up.

MARCH 2 2021 ECONOMIC OUTLOOK To help you with the economic uncertainty and to help forecast recovery, your Chamber in partnership with America’s Small Business Development Center (SBDC) at Texas Tech, is pleased to bring you an Economic Outlook Seminar on March 2 featuring renowned economist Dr. Mark Dotzour. Please join us at 10:30 AM via zoom. Click here for more information.

MARCH 3 GOVERNOR'S SMALL BUSINESS WEBINAR Join us for the next Governor's Small Business Webinar for an update on the new round of Paycheck Protection Program (PPP) funding and other recovery resources through the U.S. Small Business Administration (SBA). Our panel of experts will provide up-to-date details on the PPP application process, loan forgiveness and assistance available to Texas small businesses impacted by the COVID-19 crisis and/or the recent severe winter storms. The virtual event will also feature a live Q&A with our expert panel, including senior executives from the SBA and Small Business Development Centers. Register here.

MARCH 5 FEDERAL HUBZONE OVERVIEW Are you in a HUBZone? Learn how to find out and what it means if you want to sell your product or service to the U. S. Government! Register here.

MARCH 24 SECURITY AWARENESS Did you know your team is your first line of defense when it comes to your business’s cybersecurity? Learn how to boost your defenses by training your team on Security Awareness. This virtual webinar is free and open to the public. Register here.

MARCH 25 & 26, APRIL 1 & 2 ELEMENTS OF SUCCESSFUL PHILANTHROPY VIRTUAL TRAINING SERIES The Friends of the Texas Historical Commission are leading this series on development training suited for large and small organizations from any discipline with limited development staff. They will highlight the best practices while facilitating dynamic group interactions to help attendees build and strengthen their fundraising "tool-kit" so they can more effectively and sustainably achieve their mission. Click Here to learn more and Click Here to Register Now.