Treasury Publishes Interim Final Rule Expanding Use of Coronavirus State and Local Fiscal Recovery Fund to Include Housing Assistance Projects and Recovery from Natural Disasters
The U.S. Treasury Department published an interim final rule expanding the eligible uses of funds from the $350 billion Coronavirus State and Local Fiscal Recovery Fund (SLFRF) enacted as part of the American Rescue Plan Act and amended by last year’s omnibus government spending legislation.
Per this IFR, state, local, and Tribal government recipients of SLFRF awards can now use these funds for housing assistance projects eligible under Title I of the Housing and Community Development Act of 1974. Eligible Title I projects that may use SLFRF funds include, among others: (1) the construction, reconstruction, rehabilitation, or installation of public facilities; (2) the construction, reconstruction, rehabilitation, or installation of privately owned utilities; and (3) the rehabilitation and reconstruction of housing, conversion of structures to housing, or construction of certain housing. The IFR also authorizes the use of SLFRF funds for emergency relief and mitigation activities related to natural disasters, including repairs to public infrastructure and home repairs for uninhabitable primary residences.
The IFR is effective on September 20, 2023. Comments on the IFR are due by November 20, 2023 and can be submitted here using RIN 1505–AC81.
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