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US Treasury issues final rule on use of $492M relief fund
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Posted on Jan 17 2022
The U.S. Treasury Department has issued its 437-page final rule on the use of the Coronavirus State and Local Fiscal Recovery Funds that the U.S. Congress included in the American Rescue Plan Act, according to Delegate Gregorio Kilili C. Sablan (Ind-MP) over the weekend.
In his e-kilili newsletter, Sablan said the Marianas state and local-level governments are receiving $492 million.
He said the Commonwealth government gets $481,876,521, the single largest federal grant ever to go to the Marianas. He said half of this money from Congress was from an equal division among the insular areas and half was allocated based on population.
Sablan said 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).
He said Congress laid out four specific purposes for the money in the American Rescue Plan Act:
*To pay for government services cut back because of lost revenues during the pandemic.
*To assist households, small businesses, and non-profit organizations, or the tourism industry.
*To provide premium pay to essential workers dealing with the health emergency.
*To invest in water, sewer, or broadband infrastructure projects.
