Proposed regulations - Treasury’s administration of grants under Gulf Coast restoration law 

September 5: The U.S. Treasury Department today released for publication in the Federal Register proposed regulations concerning investment and use of amounts deposited in the Gulf Coast Restoration Trust Fund (established pursuant to the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act)).

The proposed regulations [PDF 261 KB] set forth procedures required by the RESTORE Act, and generally describe the responsibilities of federal and state entities that administer RESTORE Act programs and carry out restoration activities in the Gulf Coast region.


Under these procedures, many expenditures from the trust fund will be in the form of grants. Accordingly, the financial management, auditing, and reporting requirements in federal grant law and policy will apply to these expenditures.




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