$492m. relief fund rules issued

Jan 17, 2022
$492m. relief fund rules issued

The U.S. Treasury Department has issued its Final Rule on use of the Coronavirus State and Local Fiscal Recovery Funds that Congress included in the American Rescue Plan Act, Public Law 117-2. Marianas state and local-level governments are receiving $492 million. The Commonwealth government gets $481,876,521, the single largest federal grant ever to go to the Marianas. Half of this money from Congress was from an equal division among the insular areas and half was allocated based on population. Another $10.4 million of Fiscal Recovery Funds was provided to the municipalities of Rota ($449,840), Tinian ($609,131), and Saipan ($9,366,170). Congress laid out four specific purposes for the money in the American Rescue Plan: 

  1. To pay for government services cut back because of lost revenues during the pandemic, 
  2. To assist households, small businesses, and nonprofits, or the tourism industry,
  3. To provide premium pay to essential workers dealing with the health emergency, and 
  4. To invest in water, sewer, or broadband infrastructure projects.

The 437-page Final Rule from Treasury goes into greater detail and is supplemented by a 44-page summary.