1. Home
  2. |Insights
  3. |Treasury Issues Guidance on the Coronavirus State and Local Fiscal Recovery Funds under the American Rescue Plan Act

Treasury Issues Guidance on the Coronavirus State and Local Fiscal Recovery Funds under the American Rescue Plan Act

Client Alert | 1 min read | 05.17.21

On May 17, 2021, the U.S. Department of the Treasury officially published an Interim Final Rule to provide long-awaited guidance on the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund (“the Fiscal Recovery Funds”) established under the American Rescue Plan Act (“ARPA”).  To facilitate the disbursement of these funds, this Interim Final Rule establishes a framework for determining the types of programs and services that are eligible under the ARPA along with a list of eligible uses that State, local, and Tribal governments may consider.  While State, local, and Tribal governments have the flexibility to determine how best to use the Fiscal Recovery Funds to meet the needs of their communities and populations, this funding, along with its recipients and subrecipients, will be subject to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards in 2 C.F.R. Part 200.

To learn more about this Interim Final Rule and better understand the opportunities and risks for companies, please read our blog post here.

Insights

Client Alert | 3 min read | 12.10.24

Fast Lane to the Future: FCC Greenlights Smarter, Safer Cars

The Federal Communications Commission (FCC) has recently issued a second report and order to modernize vehicle communication technology by transitioning to Cellular-Vehicle-to-Everything (C-V2X) systems within the 5.9 GHz spectrum band. This initiative is part of a broader effort to advance Intelligent Transportation Systems (ITS) in the U.S., enhancing road safety and traffic efficiency. While we previously reported on the frustrations with the long time it took to finalize rules concerning C-V2X technology, this almost-final version of the rule has stirred excitement in the industry as companies can start to accelerate development, now that they know the rules they must comply with. ...