1. What is the purpose of the American Recovery and Reinvestment Act of 2009?
- Create and save jobs
- Jump-start the economy
- Promote economic recovery and growth
2. Where is the full text of the American Recovery and Reinvestment Act of 2009?
Full text of the American Recovery and Reinvestment Act of 2009 (ARRA) can be found at this web site.
3. What types of programs will be funded?
Projects that are going to be funded will...
- Create a framework for clean, efficient, American energy
- Transform our economy through the use of science and technology
- Modernize roads, bridges, transit and waterways
- Overhaul education for the 21st century
- Dispense tax cuts to create jobs
- Expand access to health care and lower costs
- Provide assistance to workers hurt by the economy
- Save public sector jobs and protect vital services.
4. How much money is available from the American Recovery and Reinvestment Act of 2009?
The total bill appropriates $789.5 billion nationwide. The state of North Carolina is expected to receive approximately $6.1 billion in direct aid to create jobs and to rebuild and expand the state’s critical infrastructure. It also provides for targeted federal tax cuts, additional grants from federal agencies and direct funding to local governments for specific federal programs in North Carolina.
5. How much of that funding might Charlotte receive?
Charlotte anticipates receiving some stimulus directly from the federal government and additional funding through applying for competitive grants for which the City is eligible. Presently, the City anticipates receiving at least $50 – 75 million in ARRA funds for police, homeless assistance, community development, job training, weatherization assistance, energy programs, transit and transportation projects.
6. What potential sources of stimulus funding for Charlotte are listed on this web site?
The list on the City’s Economic Recovery web site represents what is currently known about funding and will be updated as new information is received.
7. How will funds be dispersed?
Funding will be provided through to various government agencies including:
- State of North Carolina
- City of Charlotte
- Mecklenburg County
- Charlotte-Mecklenburg Schools
- Centralina Council of Governments
8. What will the City do with the funds?
There are more than 20 projects and programs that may be eligible for ARRA funding. Review each of the five funding categories to see the various stimulus programs coming to Charlotte.
Community Development and Job Training
Public Safety Programs
9. What accountability and transparency steps are required?
The ARRA includes extensive provisions to ensure that recipients spend funds in ways that are consistent with its purposes. Requirements include:
- Certifications from governors or local officials stating that infrastructure expenditures have been fully reviewed and are an appropriate use of tax dollars.
- Public access to contract and grant information, including requests of proposals for competitive application grant programs.
- Provisions for federal oversight, reviews and audits, coordinated by a Recovery Act Accountability and Transparency Board.
- Access by federal inspectors and the Recovery Act Accountability and Transparency Board to information needed to ensure accountability at the national level.
States receiving funds are required to report the following to the federal government:
- How funds are being used
- Descriptions and status reports on stimulus-related projects
- Estimates of jobs saved or created by federal stimulus activities
- Estimates of tax increases averted because of federal stimulus funding.
10. Where can I find information on stimulus tax incentives?
Most tax incentives in the ARRA are related to the federal tax code. The Internal Revenue Service will be the best source of information related to tax incentives.