Treasury Issues RESTORE Act Interim Final Rule

Picture1To help further the recovery of communities affected by the Deepwater Horizon oil spill, the U.S. Treasury Department today announced that a new rule has been published in the Federal Register for Gulf Coast states and municipalities to receive funding for environmental restoration and economic development projects. The Interim Final Rule outlines grant programs for Alabama, Florida, Louisiana, Mississippi, and Texas that were established by the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States (RESTORE) Act.

To date, funding has been available from the Transocean settlement but federal rules required to distribute the money were not available. Public agencies and municipalities can now begin to tackle the much-needed environmental restoration and economic recovery supported by the Gulf Coast Restoration Trust Fund. To learn more about Gulf restoration, visit the Gulf of Mexico Alliance web page for a list of supporting activities.

Download a PDF of the unpublished rule.

 

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