Gordon signs CARES Act funding measures
CHEYENNE, Wyo. (KIFI/KIDK)-Wyoming Governor Mark Gordon has signed legislation that will direct $1.25 billion in federal funding into the state economy.
Gordon signed three bills approved by the Legislature’s special session last weekend.
Senate File 1001 gives the Governor flexibility to spend $1.25 billion in CARES Act funding. That will be done in three allotments. The first $450 million will go out immediately, an additional $400 million on July 15 and the remaining $400 million beginning September 15.
The second bill made changes to the state’s unemployment and workers’ compensation programs. It created an eviction prevention program to be administered by the Wyoming Community Development Authority.
The third bill provides funds for three business relief programs to help those impacted by COVID-19 and health orders. The Wyoming Business Interruption stipend program allocates $50 million to help businesses with 50 or fewer employees, with grants of up to $50,000. The Coronavirus Business Relief Stipend will spent $225 million to assist businesses with up to 100 employees, with stipends of up to $300,000. The third, Mitigation Stipend Program, will help businesses of any size pay for COVID-19 related expenses up to $500,000.
Gordon vetoed two provisions. One addressed the timing of allocations and the second put a $20,000 minimum amount that businesses would be eligible for the Business Interruption Stipend Program. Gordon said that would help meet the needs of the smallest businesses with relatively minor losses.
