US SB4308 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 23 2020 - 25% progression, died in committee
Action: 2020-07-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Makes special districts eligible for the Coronavirus Relief Fund and the Municipal Liquidity Facility program. Specifically, the bill makes special districts eligible for payments from amounts paid to states from any new appropriations to the fund. A special district must submit a request for payment to the state with information demonstrating that the special district has experienced or is likely to experience during the COVID-19 (i.e., coronavirus disease 2019) emergency reduced revenue or operational funding derived from provided services, taxes, fees, or other sources of revenue; reduced indirect funding from the federal government, the state, or a unit of general government below the state level; or as a result of the COVID-19 emergency, increased expenditures necessary to continue operations. The Board of Governors of the Federal Reserve System shall include special districts as eligible issuers in the Municipal Liquidity Facility program, which was created in response to the COVID-19 emergency to buy municipal securities.

Tracking Information

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Title

Special Districts Provide Essential Services Act

Sponsors


History

DateChamberAction
2020-07-23SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB7073 (Related) 2020-06-01 - Referred to the Committee on Oversight and Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects


US Congress State Sources


Bill Comments

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