The language in the Senate CARES Act is rather esoteric. One thing I do know is that no one is going to receive a $1,200 check from the government in the near future.
“(1) net income tax liability, or
“(2) $1,200 ($2,400 in the case of a joint return).
The bill later defines a floor of $600.00.
The way that this reads, people will not receive any money until 2021 when they file their 2020 tax returns.
Meanwhile small businesses eligible for interest-free loans are defined as companies with fewer than 500 employees. That would qualify just about everything that Trump has slapped his name on; hotels, golf courses and so on.