1. Short title This Act may be cited as the State Housing Relief Act of 2020 . 2. Housing Assistance Fund (a) Definitions In this section: (1) Secretary The term Secretary means the Secretary of the Treasury. (2) State The term State means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Northern Mariana Islands. (b) Establishment of fund There is established at the Department of the Treasury a Housing Assistance Fund to provide such funds as are allocated in subsection (f) to State housing finance agencies for the purpose of preventing homeowner mortgage defaults, foreclosures, and displacements of individuals and families experiencing financial hardship after January 21, 2020. (c) Allocation of funds (1) In general The Secretary of the Treasury shall establish such criteria as are necessary to allocate the funds available within the Housing Assistance Fund to each State. The Secretary shall allocate such funds among all States taking into consideration the number of unemployment claims within a State relative to the nationwide number of unemployment claims. (2) Small state minimum Each State shall receive no less than $125,000,000 for the purposes established in subsection (b). (d) Disbursement of funds (1) Initial disbursement The Secretary shall disburse to the State housing finance agencies not less than ½ of the amount made available pursuant to this section, and in accordance with the allocations established under subsection (c), not later than 120 days after the date of enactment of this Act. The Secretary or designee shall enter into a contract with each State housing finance agency, which may be amended from time to time, establishing the terms of the use of such funds prior to the disbursement of such funds. (2) Second disbursement The Secretary shall disburse all funds made available pursuant to this section, and in accordance with the allocations established under subsection (c), not later