Treasury Releases CRF Guidance
The Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) created a Coronavirus Relief Fund (CRF), which provides $150 billion to state, local, territorial, and tribal governments. While the law specified allowable uses of the CRF, states have been awaiting guidance to provide additional details on how these funds may be used. The Department of the Treasury released the guidance on April 22, 2020. It is summarized here.