Under the CARES Act funds have been allocated for airport capital expenditures and airport operating expenses related to coronavirus prevention, preparedness, and response. The CARES Act also provides funds to increase the Federal share to 100 percent for grants awarded under the fiscal year 2020 appropriations for Airport Improvement Program (AIP) and Supplemental Discretionary grants. This funding is subject to a simplified application process and will be awarded on an expedited basis.
The CARES Act includes three grant programs under the Education Stabilization Fund:
These grant programs are being administered through the U.S. Department of Education and are intended to support efforts by states, schools and institutions of higher learning to prevent, prepare for, and respond to coronavirus, but each has a different focus and are subject to different eligibility requirements.
The CARES Act includes $100 billion for the Public Health and Social Services Emergency Fund (PHSSEF), also known as the Provider Relief Fund. The amount was increased by another $75 billion in the most recently enacted economic relief package. This program is intended to cover non-reimbursable health care related expenses or lost revenue directly attributable to coronavirus (COVID-19) and is being administered by the U.S. Department of Health and Human Services. The CARES Act also includes $200 million for a COVID-19 Telehealth Program being administered by the Federal Communications Commission.
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**LCA is not an authorized tax advisor.