Welcome

Kentucky Sends $506M in Covid-19 Cash Back to U.S. to Repay Loan

April 7, 2021, 3:46 PM

Kentucky will send $506 million in federal Covid-19 stimulus money back to Washington to repay an unemployment loan under a law signed by the governor Wednesday.

Another $69 million of the federal aid will be moved into the state’s unemployment fund following a flood of pandemic claims.

The law, H.B. 382, is part of a compromise between Gov. Andy Beshear (D) and GOP legislative leaders that appropriates roughly $1.4 billion of the state’s $2.4 billion in stimulus dollars from the recently-passed $2 trillion American Rescue Plan, H.R. 1319.

The state is putting the largest chunk of cash toward ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.