Insular Area Liquidity Act

Bill: 116-hr-8116
Sponsor: full_name: Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large]
Introduced: 2020-08-28
Policy area: Public Lands and Natural Resources
Subjects: American Samoa

Caribbean area

Guam

Northern Mariana Islands

Public contracts and procurement

U.S. territories and protectorates

Virgin Islands
Latest action: action_date: 2020-08-28
text: Referred to the House Committee on Natural Resources.

Summaries:
action_date: 2020-08-28
action_desc: Introduced in House
text: <p><b>Insular Area Liquidity Act</b></p> <p>This bill requires each department or agency making a grant to an Insular Area (the U.S. Virgin Islands, Guam, American Samoa, or the Northern Mariana Islands) to provide the Insular Area with (1) not less than 50% of the grant funds through advanced payments, and (2) additional monitoring and technical assistance to manage the grant funds.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 8116 IN THE HOUSE OF REPRESENTATIVES August 28, 2020 Mr. Sablan (for himself, Mr. San Nicolas , Ms. Plaskett , and Mrs. Radewagen ) introduced the following bill; which was referred to the Committee on Natural Resources A BILL To amend the Act entitled An Act to authorize certain appropriations for the territories of the United States, to amend certain Acts relating thereto, and for other purposes to provide partial advanced payment for grants awarded to Insular Areas, and for other purposes.

1. Short Title This Act may be cited as the Insular Area Liquidity Act . 2. Capital advance for grants awarded to insular areas Section 501 of the Act entitled An Act to authorize certain appropriations for the territories of the United States, to amend certain Acts relating thereto, and for other purposes ( 48 U.S.C. 1469a ; Public Law 95–134 ) is amended by adding at the end the following: (e) Each department or agency making a grant to an Insular Area shall provide to the Insular Area— (1) not less than 50 percent of the grant funds through advanced payments, as defined in section 200.3 of title 2, Code of Federal Regulations; and (2) additional monitoring and technical assistance to manage the grant funds. . 3. Effective Date The amendment made by this Act shall take effect on October 1 of the first fiscal year that begins after the date of the enactment of this Act.