Bill Text: DE HB358 | 2019-2020 | 150th General Assembly | Draft
Bill Title: An Act To Amend Title 29 Of The Delaware Code Relating To Federal Coronavirus Relief Fund Of 2020 (cares Act 2020)
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2020-06-26 - Introduced and Assigned to Administration Committee in House [HB358 Detail]
Download: Delaware-2019-HB358-Draft.html
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SPONSOR: |
Rep. Collins & Sen. Richardson |
HOUSE OF REPRESENTATIVES
150th GENERAL ASSEMBLY
HOUSE BILL NO. 358
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO FEDERAL CORONAVIRUS RELIEF FUND OF 2020 (CARES ACT 2020)
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Title 29, Chapter 60E of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§ 6090 Findings and purpose.
The General Assembly hereby finds that small businesses were negatively financially impacted by the novel Coronavirus (Covid-19) infectious disease in 2020. The economic impact on small businesses is unprecedented and long-term impact on small businesses remains unknown. The federal government provided monetary relief to the State of Delaware through the Coronavirus Relief Fund (CARES Act) of 2020. To insure small businesses receive the economic relief needed to recover from this Covid-19 health crisis, the General Assembly determines it is in the State’s best interest to direct a certain portion of the Coronavirus Relief Fund money to small businesses operating in Delaware.
Section 1. Money reserved for Small Businesses
A portion of the CARES Act money received by the State of Delaware, but not less than 100,000,000.00, shall be designated for disbursement to small businesses to reimburse the costs of business interruption caused by required closures during the States of Emergency declared in Delaware, unemployment insurance costs related to Covid-19 if such costs will not be reimbursed by the federal government under the CARES Act, and any other Covid-19 related expenses reasonably related to the Covid-19 public health emergency.
Section 2. Disbursement by the Secretary of State
The Secretary of the State, through the Office of the Delaware Economic Development Authority, shall:
1. Establish the criteria by which small businesses may apply for economic relief under this section.
2. Promulgate procedures and guidelines covering the applications for economic relief.
3. Provide an accounting to the General Assembly as to the amounts disbursed on a quarterly basis.
4. Meet within 30 days of the effective date of this legislation to establish the Chairman of the Covid-19 Small Business Committee and appointment of members.
5. Meet as often as necessary to review, approve or disapprove the applications for economic relief.
SYNOPSIS
Delaware received significant funding from the federal government under the CARES Act to address economic harm caused by the Covid-19 public health emergency. This Act recognizes the undue economic harm small businesses faced during the State of Emergency closures in Delaware and specifically instructs that 100,000,000.00 of the CARES Act money be directed to small business through an application process overseen by the Secretary of State and the Delaware Economic Development Authority.
