The Coronavirus Relief Fund: A Guide for Texas Local Governments

The Coronavirus Relief Fund (“Fund”) provides $139 billion to states and local governments for use toward expenditures incurred due to the public health emergency with respect to COVID-19.[1] The funding is allocated by population proportions among the States, with a minimum of $1.25 billion for smaller states. Eligible local governments (see “Eligibility” below) can apply for … Continue reading The Coronavirus Relief Fund: A Guide for Texas Local Governments

Manual of Aid to State & Local Governments Under CARES Act: Updated April 15, 2020

The Manual of Aid to State & Local Governments Under the CARES Act has been updated to provide: a comprehensive overview of the Treasury Department's Coronavirus Relief Fund; HUD's guidance on accessing, administering, and using hashtag#CDBG funds appropriated under the CARES Act; ED's launch of the Governor's Emergency Education Relief Fund; and other regulatory developments at … Continue reading Manual of Aid to State & Local Governments Under CARES Act: Updated April 15, 2020

Federal Reserve Municipal Liquidity Facility: A Guide for State & Local Governments

On April 9, 2020, The Federal Reserve launched the Municipal Liquidity Facility (“MLF”), a credit facility that will purchase up to $500 billion of Eligible Notes (defined below) issued by eligible states, local governments, and instrumentalities (“Eligible Issuers”). This post provides a comprehensive review of the term sheet published by the Federal Reserve for the … Continue reading Federal Reserve Municipal Liquidity Facility: A Guide for State & Local Governments

Manual of Aid to State & Local Governments Under CARES Act: Updated April 10, 2020

The Manual of Aid to State & Local Governments Under the CARES Act has been updated to reflect regulatory developments as federal agencies have taken steps to implement the CARES Act. This update includes coverage of new developments at HHS, ED, the Election Assistance Commission, and, most significantly, a comprehensive overview of the Federal Reserve's new … Continue reading Manual of Aid to State & Local Governments Under CARES Act: Updated April 10, 2020

Manual of Aid to State & Local Governments Under CARES Act: Updated April 6, 2020

The Manual of Aid to State & Local Governments Under the CARES Act has been updated to reflect regulatory developments as federal agencies have taken steps to implement the CARES Act. It appears the Fed, HUD, DOJ, and the Election Assistance Commission have proceeded to implement the state-and-local-government-specific provisions of the CARES Act. By contrast, … Continue reading Manual of Aid to State & Local Governments Under CARES Act: Updated April 6, 2020