Your government may have heard that the US Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Perhaps you are interested in what this means for your state and local government and why you should care.
Relevant to State and Local Governments, the CARES Act provided $150 million toward the Coronavirus Relief Fund. After carve outs for outlying territories and tribal entities, $139 million is left to State and Local Governments.
The distribution is based on the latest Census data available, with a $1.25 billion small state minimum. The United State Treasury administers the funds to the State Governments. If your local government is 500,000 or greater, you may petition the Treasury for a direct payment. Direct payments to local governments is capped at 45% of the State allocation. The State’s receive the remainder of the allocation (55%) which may also be used for local payments as well.
(Read more: ELGL)
