Coronavirus State and Local Financial Assistance Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 5, 2020)
Coronavirus State and Local Financial Assistance Act
This bill (1) directs the Department of the Treasury to establish a State and Local Government Coronavirus Relief Program under which Treasury shall make monthly grants to states to make up for revenue lost from March 1-December 31, 2020, due to COVID-19 (i.e., coronavirus disease 2019) and social distancing steps taken by the state and its political subdivisions, and (2) appropriates $500 billion to carry out the program.
To be eligible to receive a grant, a state must (1) compile estimates for the revenue lost by the state and each political subdivision, and (2) submit an estimate to Treasury by the 20th of each month.
Treasury shall make grant payments to a state within 15 days of receiving a loss estimate.
The bill sets forth requirements with respect to pro rata distribution of funds, treatment of overpayments, and distribution to political subdivisions of a state.
What just happenedMay 5, 2020
Referred to the House Committee on Oversight and Reform.
Who’s behind it
- Introduced in HouseMay 5, 2020
- May 5, 2020IntroReferralH11100
Referred to the House Committee on Oversight and Reform.
Oversight and Accountability Committee - May 5, 2020IntroReferralIntro-H
Introduced in House
- May 5, 2020IntroReferral1000
Introduced in House