S 4001 116th Congress Senate Labor and Employment Government trust funds Social work, volunteer service, charitable organizations State and local finance Unemployment

Protecting Nonprofits from Catastrophic Cash Flow Strain Act of 2020

Introduced: June 18, 2020 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 18, 2020

Read twice and referred to the Committee on Finance.

Jun 18, 2020

Introduced in Senate

Plain-English summary Congressional Research Service

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 on or after March 13, 2020, and before enactment of this bill.

What's happening now June 18, 2020

Read twice and referred to the Committee on Finance.

Committees of jurisdiction 1