The term recovery funds refers to financial resources made available through the American Recovery and Reinvestment Act of 2009 (Public Law 111-5). These funds were designed to stimulate the economy following the recession by providing assistance for various projects and programs. Recovery funds can be used for a wide range of purposes, including infrastructure improvements, education, healthcare, and job creation.
Recovery funds are primarily used in the context of federal grants and financial assistance programs. They are relevant in areas such as:
Users may encounter forms and procedures related to the application and management of these funds, which can often be accessed through platforms like US Legal Forms that offer templates drafted by legal professionals.
Here are a couple of examples of abatement:
Example 1: A local government receives recovery funds to upgrade public transportation systems, improving accessibility and efficiency for residents.
Example 2: A school district utilizes recovery funds to enhance technology in classrooms, providing students with better learning tools. (hypothetical example)
The primary statute governing recovery funds is the American Recovery and Reinvestment Act of 2009. This law outlines the purpose, distribution, and use of the funds to promote economic recovery.
| Term | Definition | Key Differences |
|---|---|---|
| Grant Funds | Financial aid provided by an organization for a specific purpose. | Recovery funds are specifically tied to economic recovery efforts. |
| Stimulus Funds | Money allocated to boost economic activity. | Stimulus funds may be broader and not limited to recovery efforts. |
If you are involved in a project that may qualify for recovery funds, consider the following steps:
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| Attribute | Details |
|---|---|
| Source | American Recovery and Reinvestment Act of 2009 |
| Purpose | Stimulate economic recovery |
| Usage | Infrastructure, education, healthcare |