The American Rescue Plan: Here’s how much money is expected for counties and municipalities at the lake
As stimulus checks make their way into the bank accounts of Americans across the county, counties and municipalities also received a hefty amount of assistance. Here’s a breakdown of what money is expected and how it can be used:
Direct funding for states goes through the State Fiscal Recovery Fund, while funds for other governments go through the Coronavirus Local Fiscal Recovery Fund. These funds are guaranteed to go to every state, local government and local entities that meet eligibility requirements.
According to the Municipal League of Missouri and National Association of Counties, the following dollar amounts were awarded to the following counties and municipalities at the lake:
Camden County $8,980,570.00
Miller County $4,968,647.00
Morgan County $4,000,480.00
Osage Beach $859,419.61
Four Seasons $442,526.49
Lake Ozark $336,695.04
Sunrise Beach $99,829.71
St Elizabeth $63,728.93
Linn Creek $46,599.48
Gravois Mills $27,259.77
Local government funds will be distributed in two equal parts, the first by May 10, 2021, and the second by March 11, 2022.
In total, $195.3 billion will be sent to U.S. states and $130.2 billion will be sent to local governments.
The funds received from the plan can be used for the following purposes:
1. Coronavirus health impact response or economic impacts including assistance to households, small businesses, nonprofits, and impacted industries including hospitality, travel, and tourism.
2. Covering lost revenue in providing services.
3. To provide premium pay for essential workers up to $13 an hour with an annual cap of $25,000.
4. Investments in water, sewer or broadband infrastructure.
All funds must be spent on costs incurred on or before December 31, 2024. Pension payments cannot utilize funds from the program.
State and local governments may transfer funds to private nonprofit groups. States cannot use the funds to offset revenue losses resulting from any tax cut, tax delay or tax rebate after March 3, 2021. Reports must be provided to the Secretary of the Treasury giving a detailed accounting of the uses of funds.
A portion of this information was sourced from Richard Spees, Akerman LLP