Coronavirus State and Local Financial Assistance Act 2020-05-05 Introduced in House 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.

]]> text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.