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U.S. Department of the Treasury Launches the Coronavirus State and Local Fiscal Recovery Funds Program | Ballard Spahr LLP


Summary
The U.S. Department of the Treasury (Treasury Department) announced the launch of the Coronavirus State and Local Fiscal Recovery Funds Program, which will provide $350 billion in emergency funds to eligible entities including state, local, territorial, and tribal governments. Eligible entities may use Coronavirus State and Local Fiscal Recovery Funds to stabilize revenue downturns and address budget shortfalls.
The Upshot
The Coronavirus State and Local Fiscal Recovery Funds Program allocates up to $350 billion to eligible government entities. Of the $350 billion, $306 billion is available to states, counties, and metropolitan cities for COVID-19 mitigation efforts, post-pandemic recovery, and capital investments in public facilities. ....

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US Treasury Issues New Guidance On What Actions Certain Local Governments Need To Take To Receive APR Relief Funds - Finance and Banking


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The American Rescue Plan Act of 2021 (ARP) will provide
more than US$130 billion to local governments to support the public
health response to the COVID-19 pandemic through the Coronavirus
State and Local Fiscal Recovery Funds Program.
US Treasury guidance issued on April 15 outlines pre-award
requirements for certain local governmental entities to receive
payments under the program. Under this recent Treasury guidance, governmental entities that
are eligible to receive direct payment from the federal government,
including states, counties and metropolitan cities with populations
over 50,000, must: ....

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