US Treasury announces RESTORE rule

Bill_NelsonThe U.S. Treasury Department announced Wednesday a new rule that outlines grant programs established by the RESTORE Act as a result of the Deepwater Horizon oil spill.

The rule accepts the funding allocation proposal submitted by Florida’s Gulf Consortium, which was formed by 23 counties. Under the proposal, the eight disproportionately impacted counties, from Escambia through Wakulla, will receive an equal share of 20 percent of the funds and the remaining 80 percent will be distributed based on oiled shoreline, per capital sales tax collections, population and distance from the oil rig.

“You couldn’t spend the BP oil fines until we had these rules,” said U.S. Sen. Bill Nelson. “Now that we have them we need to get the money flowing to the affected communities,” he said.

Read more in the Aug. 21 issue of Navarre Press or subscribe online here.


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