Gov. Asa Hutchinson early Saturday morning signed twin bills from the Arkansas Senate and Arkansas House that puts $173 million into a reserve fund to alleviate some of the challenges the state is facing as a result of the coronavirus pandemic.

Business slowdown and extending the tax filing deadline to July 15 for individual taxpayers will result in a projected $353 million shortfall in the state budget over the next three months, Hutchinson said Monday.

The number of confirmed cases of COVID-19 in Arkansas reached 404 Saturday and the number of deaths increased to five, Gov. Hutchinson said in his Saturday afternoon coronavirus update.

Watch Gov. Hutchinson’s Satruday afternoon coronavirus update: