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SUMMARY:Consultation: SLFRF Interim Final Rule (Obligation IFR)
DESCRIPTION:Dear Tribal Leader\, \nToday\, the U.S. Department of the Treasury (Treasury) published a new interim final rule for the State and Local Fiscal Recovery Funds (SLFRF) program. This interim final rule (Obligation IFR) provides additional flexibility and clarity for recipients regarding the definition of “obligation” and associated guidance. The Obligation IFR clarifies the application of the statutory obligation deadline of December 31\, 2024\, to subrecipients and contractors\, and provides guidance on the circumstances under which contracts and subawards entered into prior to the obligation deadline may be amended or replaced. It does not alter the existing obligation and expenditure deadlines or eligible use categories\, including how recipients may use SLFRF funds under the revenue loss eligible use category. Recipients must continue to obligate funds by December 31\, 2024\, and expend funds by December 31\, 2026 (other than in the case of SLFRF funds used for Surface Transportation projects or Title I projects\, which must be expended by September 30\, 2026). \nTo support SLFRF recipients in their understanding of the Obligation IFR\, on November 16th\, Treasury will host a webinar. During the two sessions listed below\, Treasury will provide an overview of the new Obligation IFR\, including explaining the amended definition of “obligation” and highlighting key examples of how related guidance and clarifications apply to implementation of SLFRF funds. Recipients will have the opportunity to submit questions in advance for the Q&A portion of the webinar. Recipients can follow along with the Obligation IFR Quick Reference Guide. Treasury is also hosting a Tribal consultation on the Obligation IFR on November 29\, 2023. The Dear Tribal Leader letter and information on how to register may be found below. \nSign Up for the Upcoming Webinar \n\nMorning Session: November 16th at 10:00 AM ET\nAfternoon Session: November 16th at 3:00 PM ET\n\nTribal Consultation\n\nWednesday\, November 29\, 2023\, 2-5pm ET – Treasury is hosting a Tribal Consultation on the Obligation IFR.  You may find the Dear Tribal Leader Letter here. \nYou may register for the consultation here. \nTreasury is accepting written comments received by December 22\, 2023\, 11:59 p.m. Alaska Time. Submit written comments at tribal.consult@treasury.gov. \nFor general information about the program\, please see the State and Local Fiscal Recovery Funds website. For details regarding the eligible use categories under the SLFRF program\, please see the following resources: \n\n2022 Final Rule\n2023 Interim Final Rule\nOverview of the 2022 Final Rule\nOverview of the 2023 Interim Final Rule\nRecipient Compliance and Reporting Responsibilities\nSelf-Service Resources\n\nTreasury looks forward to working with you to ensure the continued success of the SLFRF program. \nFatima Abbas\nDirector\nOffice of Tribal and Native Affairs\nU.S. Department of the Treasury
URL:https://www.usetinc.org/event/webinar-slfrf-interim-final-rule-obligation-ifr-2023-11-29/
LOCATION:Virtual Event
CATEGORIES:Consultation,Infrastructure,Treasury Department
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