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File #: 2021-1440    Version:
Type: Resolution Status: Passed Finally
File created: 4/30/2021 In control: Committee on Finance and Law
On agenda: 5/4/2021 Final action: 5/17/2021
Enactment date: 5/17/2021 Enactment #: 315
Effective date: 5/24/2021    
Title: Resolution providing for the creation of the American Rescue Plan Trust Fund and setting conditions for the deposit into and expenditures from said trust fund.
Indexes: TRUST FUND
Attachments: 1. 2021-1440 Cover Letter -ARPA Trust Fund Resolution Letter (1), 2. Summary 2021-1440

Title

Resolution providing for the creation of the American Rescue Plan Trust Fund and setting conditions for the deposit into and expenditures from said trust fund.

 

Body

WHEREAS, on March 11, 2021, President Biden signed the $1.9 trillion American Rescue Plan into Law; and

 

WHEREAS, the American Rescue Plan is set to provide a total of $350 billion of state and local fiscal aid; and,

 

WHEREAS, the City of Pittsburgh will receive future direct payments from the U.S. Department of Treasury under the Coronavirus State and Local Fiscal Funds authorized by the American Rescue Plan Act; and,

 

WHEREAS, City Council will consider recommendations in its deliberations by the joint Pittsburgh Recovery Task Force consisting of representatives of the Office of the Mayor, President of City Council, President Pro-Tempore, and Chairman, Committee on Finance and Law and to consider allocation through a lens of equity,

 

WHEREAS, monies deposited will be direct federal aid allocated to the City of Pittsburgh must be spent by December 31, 2024.

 

Be it resolved by the Council of the City of Pittsburgh as follows:

 

Section 1. The City Controller is hereby authorized to create a special trust fund to be designated as the “American rescue Plan Trust Fund.” Revenue deposited into said trust fund will be funds received directly from the U.S. Department of Treasury’s State and Local Coronavirus Fiscal Recovery Fund.

 

Section 2. Monies deposited into said trust fund will be used to cover expenses and uses set forth by the general guidelines established by U.S. Department of Treasury’s program administration of the State and Local Coronavirus Fiscal Recovery Fund, as recommended by the joint Pittsburgh Recovery Task Force consisting of representatives of the Office of the Mayor, President of City Council, President Pro-Tempore, and Chairman, Committee on Finance and Law. Funds will then be voted and appropriated at the direction of City Council and the Mayor.