GUARANTEED INCOME PROGRAM ACT

Creates the Guaranteed Income Pilot Program Act. Provides that, beginning one year after the effective date of the Act, the Department of Commerce and Economic Opportunity shall provide $500 monthly cash payments to 3,250 low-to-moderate-income families in the State for a period of 2 years. Provides that the recipients of the monthly cash payments shall be determined by lottery. Provides that the Department may not limit how the recipients of the monthly cash payments use the monthly cash payments or require the recipients of the monthly cash payments to provide receipts demonstrating how the recipients of the monthly cash payments use the monthly cash payments. Requires the Department to adopt rules to implement the Act. Provides that the Act is repealed 5 years after the effective date of the Act.