The Office off General Treasurer Seth Magaziner will begin disbursing federal stimulus funds to cities and towns by the end of this month. The funds are part of the federally-passed American Rescue Plan Act, which aims to help states and municipalities recover from the economic and health effects of the COVID-19 pandemic.
"With these stimulus funds, Rhode Island has an opportunity to spur a broad-based economic recovery for all Rhode Islanders," said General Treasurer Seth Magaziner. "Rhode Island cities and towns can use this funding for a variety of purposes, including supporting small businesses, helping students make up for learning loss, upgrading infrastructure and improving public health systems."
Rhode Island cities and towns will receive over $540 million in American Rescue Plan stimulus funds, $260 million of which will be delivered by the General Treasurer's Office. The funding will be issued in several tranches as Federal funding is received. The first tranche is currently scheduled to be distributed on June 29.