AAFAF - Autoridad de Asesoría Financiera y Agencia Fiscal de Puerto Rico
Coronavirus State and Local Fiscal Recovery Funds (CSLFRF)

The American Rescue Plan will deliver $350 billion for eligible state, local, territorial, and Tribal governments to respond to the COVID-19 emergency and bring back jobs.

The Coronavirus State and Local Fiscal Recovery Funds provide a substantial infusion of resources to help turn the tide on the pandemic, address its economic fallout, and lay the foundation for a strong and equitable recovery.

Click here for more information about the CSLFRF.

Coronavirus Local Fiscal Recovery Funds (CLFRF):

The Coronavirus Local Fiscal Recovery Fund will provide $19.53 billion to support non-entitlement units of local government (NEUs), which are local governments typically serving a population under 50,000. Treasury expects to make payments to states and territories, which will distribute amounts to eligible NEUs in their jurisdiction in accordance with the guidelines established by Treasury.

Additional Information on Non-entitlement Units (NEUs)

Coronavirus State and Local Fiscal Recovery Funds Guidelines

The U.S Treasury Department published the Coronavirus State and Local Fiscal Recovery Funds Guidance for State, Territorial, Local, and Tribal Governments. These guidelines provide guidance to recipients-including Puerto Rico its municipalities-of the funding avaliable under the American Rescue Plan Act.

On August 9, 2021, Governor Pedro Pierluisi announced Cultural Rescue program which makes up to $50 million in CSFRF funds available to support the financial liquidity of cultural institutions, repair historically significant buildings, and conservation and digitalization of historic documents. This program will be divided into two (2) phases:

Phase 1 – Phase 1 makes $10 million in immediately available funds as described below in the “Eligibility Criteria” section to Instituto de la Cultura Puertorriqueña (ICP), Corporación del Conservatorio de Música, Corporación de las Artes Musicales, Corporación del Centro de Bellas Artes and Escuela de Artes Plásticas.

Phase 2 – 4 Phase 2 makes $30 million available to restore and preserve historically significant buildings and $10 million for the conservation and digitalization of historic documents.

Investment: $50,000,000

Restrictions: These funds will only be available to cover necessary expenditures related to the COVID-19 emergency that have not been covered or reimbursed, or that will not be covered in the future, by other state, federal or private programs that the entities may have. Likewise, the beneficiary entities must sign an agreement as part of the program in which they agree to return the money if it is determined in the future that they did not comply with any of the eligibility requirements. Beneficiaries must spend the money on or before December 31, 2024.

The Assistance to Nonprofit Organizations Program in Puerto Rico (NGOs) under the Coronavirus State Fiscal Recovery Fund, is intended to provide assistance to NGOs for necessary expenditures related to the COVID-19 emergency. Allocation to each organization will be based on approval of budget submitted with each proposal.

Investment: $15,000,000

Restrictions: These funds will only be available to cover necessary expenditures related to the COVID-19 emergency that have not been covered or reimbursed, or that will not be covered in the future, by other state, federal or private programs that the entities may have. Organizations that receive these funds will not be able to use them to pay executive bonuses, debt refinancing or other expenses that are determined to be ineligible. Likewise, the beneficiary entities must sign an agreement as part of the program in which they agree to return the money if it is determined in the future that they did not comply with any of the eligibility requirements. Beneficiaries must spend the money on or before December 31, 2024.