Senate Bill 996 Summary

• Appropriates $100,000,000 in federal Coronavirus Relief Fund monies to the Department of Labor and Economic Opportunity's Unemployment Insurance Agency for fiscal year ending September 30, 2020.

• Directs the Unemployment Insurance Agency to create and operate a loan program for individuals who have applied for but not yet received unemployment benefits during the COVID-19 pandemic.

• Requires the Unemployment Insurance Agency to automatically collect loan repayments from unemployment benefits paid to claimants, with collection procedures established for individuals determined ineligible for benefits.

• Authorizes the Unemployment Insurance Agency to work with the Department of Treasury for loan program implementation and payment collection.

• Requires the Unemployment Insurance Agency to submit a report to the legislature by October 31, 2020 on the loan program results.