This brief communicates findings from Phase 1 of "State Responses to COVID-19 -- Implications for Outcomes-Based Funding" a 50-state policy scan to determine how Outcomes-Based or Student Success Funding (PBF/OBF/SSF) policies are shifting in response to COVID-19 related budget fluctuations. Conducted between August and December of 2020, this 50-state scan included the following goals: (1) explore how COVID-19 and related budget cuts have impacted state SSF policies; and (2) explore how, if at all, shifts in SSF policies affected the level or type of support provided to sectors and institutions that serve Black, Latinx and low-income students. The research team reviewed publicly available websites, including those of state legislatures, higher education agencies, local and state-level media, and systematically recorded data along several key elements. Research for Action (RFA) found that over one third of states running SFF/PBF/OBF models in FY20 either implemented a new hold harmless provision, extended a FY20 hold harmless provision that had been set to expire, or paused their formula for FY21. Few states heightened their focus on racial equity through SSF models. Some states communicated an intent to increase institutional focus on underrepresented minority students through SFF/PBF/OBF models, but none adopted new equity metrics for FY21. [For a related report, "The State of Promise Programs during COVID-19: Results from a Policy Scan," see ED614912.]