Capital Advance for the Insular Areas

I introduced H.R. 8116, the Insular Areas Liquidity Act which would require any department or agency rewarding a grant to any of the four smaller insular areas, to provide at least 50 percent of the award amount up front in an advance payment as defined in 2 CFR 200.3. My bill will also require the awarding department or agency to provide enhanced grant management assistance and technical assistance to the recipients. Grant recipients are often required to provide their own capital to fund projects and are reimbursed later. But in the insular areas, capital is already limited, even more so with the economic downturn caused by the coronavirus crisis. By providing an advanced payment of at least 50 percent, we will ensure that projects and programs would not be delayed, and that the entirety of any grant award will be spent. My insular area colleagues Mr. San Nicolas, Ms. Plaskett, and Radewagen signed on as original cosponsors of my bill.