Community College Emergency Stabilization Fund Act - Directs the Secretary of Education to provide temporary emergency funding to states for use in awarding competitive grants to community colleges to assist them in maintaining, or hiring additional, staff.
Allots such funding to states pursuant to a formula that takes into account each state's share of increased unemployment over the past 12 months and the extent to which its unemployment rate exceeds the national average.
Directs the Secretary to award competitive grants to career and technical colleges to assist them in maintaining, or hiring additional, staff.
Requires the states and the Secretary, when determining the amount of a grant to be awarded to a community college or career and technical college pursuant to this Act, to consider: (1) its student enrollment; (2) the increase in its enrollment over the preceding academic year; and (3) the most recent monthly unemployment rate in its locality.
Requires the Comptroller General to conduct an evaluation this Act's grant programs and report its results to Congress.