NV (STL.News) U.S Treasury Department issued comprehensive guidance related to how the states and territories can spend aid allocated from the Coronavirus State and Local Fiscal Recovery Funds established by the federal American Rescue Plan (ARP). The newest figures show that Nevada will receive $2.7 billion in direct State aid, with billions of additional dollars flowing directly to local governments and to more than ninety specific programs.
The 150 plus pages of guidance released today includes detailed information on the allowable uses for how the States can utilize fiscal recovery funds from the ARP to respond to pandemic response needs, fill revenue shortfalls, and support communities and populations hardest-hit by the COVID-19 pandemic. The Treasury Department announced that eligible jurisdictions would be able to access funding in the coming days.
“Now that the U.S. Treasury has issued guidance related to the latest federal funding, the State team will get to work analyzing and reviewing the information. This will be one of the largest infusions of federal dollars into Nevada in history, and therefore it is critical that we take the time to analyze the guidance in detail so we can ensure these funds are spent in accordance with eligibility guidelines and in the most effective manner for Nevada residents.
“In early April, along with Treasurer Zach Conine, Senate Majority Leader Nicole Cannizzaro and Assembly Speaker Jason Frierson, we developed the ‘Every Nevadan Recovery’ framework to ensure the State had a strategic planning process for the discretionary funds allocated directly to the State. This is our foundation to ensure this federal funding is used in a strategic manner focused on a strong recovery with long lasting impacts for Nevada families and our economy.
”Having that framework will be essential in the time ahead as we review and analyze the guidance and conduct significant engagement with community leaders, businesses, public servants, labor and the residents of Nevada. I look forward to working together with leaders across the State to make sure this money is used strategically to propel our recovery and set Nevadans on a path for success.”
Nevadans are encouraged to review the Every Nevadan Recovery Framework and submit their ideas using the links provided on the “Stakeholder Engagement Process” page.