I'm neither a lawyer or politician, just a regular American, but the way I understand it is...
Any state can apply for funds to hold their elections in the 2020 election cycle if they need to do something differently due to the Chinese/Wuhan virus situation. I assume an example would be if they need to modify a polling place to maintain social distancing (just my guess), etc.
The state must send a full accounting of how they used the funds "to prevent, prepare for, and respond to coronavirus". Any funds not used must be returned by 12/31/2020.