H1043 - 2020 COVID-19 Recovery Act. (SL 2020-4)

Overview: Section 1.5 of S.L. 2020-4 provides that if an allocation made under the act is disallowed by federal law, the disallowed allocation is repealed, and the Office of State Budget and Management (OSBM) must transfer the amount of the disallowed allocation to the Coronavirus Relief Reserve. If the funds have been allocated to a nonprofit corporation, and the use of funds by the nonprofit corporation is disallowed by federal law, the nonprofit corporation must return the amount of funds allocated to the nonprofit corporation to OSBM to transfer the funds into the Coronavirus Relief Reserve.

This section became effective May 4, 2020.