On January 6, 2022, the Treasury Department issued the final rule implementing the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program under the American Rescue Plan. The final rule provides more flexibility for ARPA SLFRF recipients and will go into effect on April 1, 2022.
Treasury has also prepared an Overview of the Final Rule, a user guide that boils the rule text down into an easy-to-understand summary of Final Rule provisions as well as a non-exhaustive list of projects that recipients can undertake with these funds without undergoing additional independent analysis.
The Interim Final Rule remains in effect until the final rule takes effect on April 1, 2022, however, recipients can choose to take advantage of the flexibilities and simplifications of the final rule now. Recipients should consult the Statement Regarding Compliance with the Coronavirus SLFRF Interim Final Rule and Final Rule for more information on compliance with the IFR and Final Rule.
Treasury is hosting webinars with recipients and stakeholders to brief and answer questions about the Final Rule:
- January 7, 2022 at 1:00pm ET; register here. This webinar will be recorded and shared within a few business days.
- January 10, 2022 at 4:00pm ET: register here.
- January 12, 2022 at 1:00pm ET: register here
GMA is in the process of analyzing details of the rule and will be scheduling webinars for GMA members to take place in the coming weeks. In the meantime, please feel free to reach out to Becky Taylor of the GMA staff for any questions you have.