New rule supports environmental and economic restoration
of the Gulf Coast region
WASHINGTON – To
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.
“Treasury
today took another important step to help the communities, ecosystems, and
people of the Gulf Coast as they continue to recover from the largest offshore oil
spill in U.S. history,” said David Lebryk, Fiscal Assistant Secretary at the
U.S. Treasury Department. “With this action,
affected states and municipalities can now begin the process of applying for
grants from the Gulf Coast Restoration Trust Fund.”
The
Deepwater Horizon oil spill released millions of barrels of crude oil in the
Gulf waters, and caused extensive damage to marine and wildlife habitats,
fishing, and tourism. On July 6, 2012, President
Obama signed the RESTORE Act into law establishing a trust fund within Treasury
with 80 percent of the civil penalties to be paid by parties responsible for
the Deepwater Horizon oil spill under the Federal Water Pollution Control
Act.
Under the Interim Final Rule published today, 35 percent
of the Gulf Coast Restoration
Trust Fund is divided equally
among the five states
for
ecological and economic
restoration. In the States of Alabama, Texas,
and Mississippi, each will be responsible for obtaining and distributing the
funds for the benefit of the Gulf region.
The State of Florida’s allocation goes to 23 coastal counties.
The State of Louisiana’s allocation will be split between the state and the
parishes, with 70 percent for state initiatives and 30 percent for initiatives chosen among 20 coastal parishes. Separately, Treasury recently published a
proposed rule that sets out the individual Louisiana parish allocations.
Treasury will also provide grants using 2.5
percent of the trust fund for research centers of excellence that will be
selected by the Gulf Coast States. Research
centers of excellence will focus on science, technology, and monitoring. In addition to these grant programs, the
Interim Final Rule describes requirements for RESTORE Act programs administered
by other federal agencies.
Treasury is one of several federal entities
working to implement the RESTORE Act. The
Gulf Coast Ecosystem Restoration Council, a federal entity composed of the five
Gulf Coast States and six federal agencies, will use 30 percent of the trust fund
for projects selected by the council, and administer grants to the states
pursuant to council-approved state expenditure plans using an additional 30
percent. The National Oceanic and
Atmospheric Administration will use the remaining 2.5 percent of the trust fund
for a program focused on advancements in monitoring, observation, and
technology. For more information on the Gulf
Coast Ecosystem Restoration Council, please visit http://www.restorethegulf.gov/.
On September 6, 2013, Treasury published its first proposed
rule to implement the Act. Today’s rule
builds on Treasury’s ongoing work to implement the RESTORE Act.
To review the Interim Final Rule, please
click here. The formal Federal Register webpage will
be available on Friday, August 15, 2014 along with program information on the
Treasury website.
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