There’s “a pretty good possibility” that the Wyoming Legislature will call a special session to deal with the impacts of the COVID-19 pandemic and potentially determine how the state will spend hundreds of millions of dollars of incoming federal funding, says state Sen. R.J. Kost, R-Powell.

Kost said it appears Wyoming will receive at least $1.25 billion from the Coronavirus Aid, Relief, and Economic Security (CARES) Act that Congress passed Friday.

“The money will have to be spent by the end of 2020 and it should be in the State of Wyoming’s hands within 45 days,” Kost said, adding that, “It doesn’t look like our local communities will receive direct distributions but aid will have to be pushed down by the state.”

Assuming the Legislature gets a say in how the money is spent, Kost said his aim will be have as much money as possible go to citizens and business people to help get through these times.

The new federal funding headed to the state is intended to cover COVID-19 expenses that are incurred between March 1 and Dec. 31 — and it specifically cannot be used to replace lost income or revenue, Kost said.

Other provisions of the roughly $2.2 trillion CARES Act include direct payments to Americans (generally $1,200 per person), increased unemployment benefits and emergency grants and forgivable loans for small businesses, according to NPR.

Kost urged businesses and organizations to keep track of their expenses and losses that are directly related to the new coronavirus. Even if entities wind up being unable to recoup their losses, the detailed records could be useful for income tax purposes in the future, he said.

Some assistance has already been made available.

For instance, Wyoming small businesses that have been substantially impacted by the COVID-19 pandemic can apply for low-interest economic disaster loans through the U.S. Small Business Administration (SBA), in amounts of up to $2 million.

Late Friday afternoon, the Wyoming Department of Workforce Services announced it was offering $300,000 in grants to help businesses avoid or shorten employee layoffs during the pandemic. By midday Saturday, the department said it had “reached our grant application limit.”

“Clearly the need for these grant funds was immediate and urgent,” DWS Director Robin Sessions Cooley said Monday, adding, “We recognize the importance of providing as much assistance as possible to our small businesses, and are diligently working to assess other funding streams and modes of help.”

For more state-level information about resources available to businesses, visit https://wyomingbusiness.org/covid19.

The situation surrounding COVID-19 has been changing rapidly, with Kost noting that “at this point nothing is clear” about the details of the new CARES Act, which was signed by President Donald Trump on Friday.

Even before Congress’ passage of the relief bill, there had been rumblings of a special legislative session to address the recent plunge in oil prices and of the stock market — slides that could have a multi-billion dollar impact on the state’s budget.

As part of his Saturday message, Kost encouraged people to stay positive and to continue efforts to limit the spread of the new respiratory disease.

“Please understand that this is a big deal and we have not reached the peak of the virus so even though many don’t like the idea and are frustrated, it is important to do your part to help keep the spread to a minimum,” Kost said. He reiterated health officials’ advice to practice social distancing, wash hands regularly, stay home when sick, buy only the supplies you need and to reach out if you need help.

“It is a different world we live in right now and something many of us have never experienced but we will get through this,” he said.

Kost said he’ll continue to offer updates as they become available and that he would do his best to get answers to local residents’ questions.