S.4209 - Protecting Nonprofits from Catastrophic Cash Flow Strain Act of 2020116th Congress (2019-2020) |
|Sponsor:||Sen. Scott, Tim [R-SC] (Introduced 07/02/2020)|
|Latest Action:||08/03/2020 Became Public Law No: 116-151. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.4209 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (07/02/2020)
Protecting Nonprofits from Catastrophic Cash Flow Strain Act of 2020
This bill permits certain governmental entities, federally recognized tribes, and nonprofit organizations to make up front payments of 50% of unemployment benefits into the state Unemployment Trust Fund (in lieu of contributions) to be used exclusively to reduce such payments resulting from the COVID-19 (i.e., coronavirus disease 2019) pandemic.
Currently, the Department of Labor issued guidance on April 27, 2020 (UIPL 18-20), requiring states to collect 100% of such payments up front and then reimburse them by 50% later.
In addition, the bill allows states to opt to issue such reimbursements or to reduce the amounts required to be paid for weeks of employment after March 12, 2020, and before enactment of this bill.