What the Coronavirus Aid, Relief, and Economic Security Act Means for Arizona

From Expect More Arizona, March 31, 2020.

On Friday, March 27, 2020, Congress passed and the President signed into law the third COVID-19 stimulus package, also called the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act is expected to result in about $2 trillion nationwide to help respond to the pandemic.

The CARES Act includes a $30.75 billion Education Stabilization Fund to states, districts/charters, and higher education institutions. States must meet a maintenance of effort level to receive funds, which includes keeping general fund spending at or above average spending in fiscal years 2017 through 2019 for K12 and for higher education.

Arizona legislative staff at the Joint Legislative Budget Committee (JLBC) have provided an overview of estimated funding available in the CARES Act.