Legislation creating a $2.2 trillion economic stabilization package to combat the COVID‐19 pandemic became law on March 27, when President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Pub. L. No. 116‐136). This was the third, and most massive, COVID‐19 emergency relief act passed by Congress in March. There are several features of the act of direct interest and import to nonprofit organizations.