The American Rescue Plan
Hunterdon County Will Receive $24 Million Dollars Within Two Installments, Over The Next Two Years From the American Rescue Fund.
On May 7, 2021 the The Secretary of the Treasury (Treasury) issued the Interim Final Rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund established under the American Rescue Plan Act.
Hunterdon County is actively working on multi-phased approach that implements the stipulations outlined in the Interim Final Rule, in order to identify key investments throughout the County. Though we are waiting for Treasury to issue the Final Rule, The County and it's stakeholders are committed to moving forward collaboratively to identify all possible investment opportunities.
The U.S. Treasury Department has prepared rules regarding the use and accounting for the funds. The one thing that new law states the funds cannot be used for, unfortunately, is to reduce taxes. These funds can be used, according to various reports, to pay COVID-related expenses; cover lost revenues due to the pandemic; maintain critical services; provide additional assistance to residents and small businesses; and invest in water, sewer and broadband infrastructure, among other uses.
In March, Commissioner Matt Holt spoke about the upcoming Recovery Funds by stating,
"Our taxpayers here in Hunterdon County can rest assured that the significant and detailed financial controls and systems of accountability that are in place for the county budget and tax dollars will be also be implemented to ensure that every dime of these funds are managed and expended properly and appropriately."