American Rescue Plan Act
The American Rescue Plan Act (ARPA) created the Coronavirus State and Local Fiscal Recovery Funds to provide a resources to State and Local Governments to help turn the tide on the pandemic, to provide economic assistance, and to begin the process for a strong and equitable recovery.
ARPA funds are to be used to:
- Support urgent COVID-19 response efforts to continue to decrease spread of the virus and bring the pandemic under control
- Replace lost revenue for eligible state, local, territorial, and Tribal governments to strengthen support for vital public services and help retain jobs
- Support immediate economic stabilization for households and businesses
- Address systemic public health and economic challenges that have contributed to the inequal impact of the pandemic
Coronavirus State and Local Fiscal Recovery Funds
The Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each government to meet local needs—including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis. These funds can also be used to make necessary investments in water, sewer, and broadband infrastructure.
For Arkansas, the categories and amounts allocated from these funds are as follows:
|State Fiscal Recovery Fund||$1,573,121,580.80|
|Local Fiscal Recovery Fund|
|Local Funds Total||$1,011,246,949.00|
Capital Project Funds
The Capital Project Fund (CCPF) provides funding to provide access to high-quality, modern infrastructure needed to thrive, including internet access.
For Arkansas, the anticipated amount allocated from the Capital Project fund is as follows:
|Capital Project Fund||$157,785,000.00|
State Fiscal Recovery Funds