FL H1277

Establishes the COVID-19 Relief Cash Flow Loan Program for the 2021-2022 fiscal year to assist small businesses impacted by the pandemic with cash flow for timely payments to contractors, suppliers, employees, independent contractors, landlords, or creditors.

Loan amount may not exceed the amount a small business needs to meet timely payments for continued operation.

Eligible businesses must provide evidence of COVID-19 pandemic impact, demonstrate insufficient cash flow with proof, agree to repay the full loan amount, and consent to having future fund distributions withheld if repayment is not made timely.

Department of Economic Opportunity shall administer the program, distribute loan funds based on business certification of amounts needed for payments due within 30 days of application, and deposit all repaid funds into the Budget Stabilization Fund within 30 days of receipt.

Takes effect upon becoming law.