H1105 - Coronavirus Relief Act 3.0. (SL 2020-97)

Overview: This provision allocates $440,541,000 of the federal funds in the Coronavirus Relief Fund to provide a grant of $335 to eligible families to assist with virtual schooling and child-care costs during the COVID-19 pandemic. The grant is available to families that resided in the State for all of 2019 and reported they had at least one child eligible for the federal child tax credit in 2019. 1.2 million families, with almost 2 million children, are expected to qualify for the grant. The provision also provides a State income tax deduction for the 2020 taxable year equal to the grant amount received.

Section 1.1(c) and Section 1.3 of this act became effective when the act was signed into law on September 4, 2020. Section 1.4 of this act is effective for taxable years beginning on or after January 1, 2020, and expires for taxable years beginning on or after January 1, 2021.