NC H1127

Establishes the COVID-19 Emergency Grant Program for Postsecondary Students to provide emergency scholarship grants covering up to 70% of rental lease obligations for 2020-2021 school year leases executed on or before March 15, 2020.

Eligible students must be enrolled in a UNC constituent institution, demonstrate financial need related to COVID-19 impact, and have entered into a lease agreement on or before March 15, 2020 for the 2020-2021 school year.

Grants must be awarded within two weeks of application receipt, with funds paid directly to landlords who agree to hold students harmless for any remaining unpaid lease obligations.

Students receiving grants must use best efforts to obtain alternative funds and remit any alternative funding amounts to their institution, but are not required to remit amounts exceeding the grant received.

Appropriates $50,000,000 in nonrecurring funds from the Coronavirus Relief Reserve to the UNC Board of Governors for fiscal year 2020-2021 to distribute among constituent institutions for the grant program; act becomes effective July 1, 2020.