Terminates unemployment insurance benefit payments under the CARES Act and rescinds unobligated balances of funds.
The CLOSE Act, also known as the Clawing back Lapsed Obligations from State Emergency programs Act, amends the CARES Act to terminate unemployment insurance benefit payments and rescind unobligated balances of funds. Specifically, it stops payments under the Pandemic Unemployment Assistance and Federal Pandemic Unemployment Compensation programs 30 days after enactment. It also rescinds unobligated balances in the extended unemployment compensation account of the Unemployment Trust Fund.
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