Coronavirus Capital Projects Fund – $10 Billion (can be used for broadband)

The American Rescue Plan also includes a $10 billion Coronavirus Capital Projects Fund to help states, territories, and Tribal governments to carry out critical capital projects directly enabling work, education, and health monitoring, including remote options, in response to the pandemic.

Of importance to schools and libraries, this funding can be used for capital projects for broadband.

Payments will be:

  • $100 million to each state,
  • $100 million to Puerto Rico,
  • $100 million to the District of Columbia,
  • $100 million in equal shares to the Virgin Islands, Guam, American Samoa, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, and Republic of Palau, and
  • $100 million to Tribal governments and Hawaii (in addition to the previous allocation as a state) with half allocated to each.

The remaining amounts will be made by the Secretary of the Treasury to the states based on population, rural area distribution, and household income.

Within 60 days (by May 12, 2021) the Department of Treasury will establish a process of applying for grants to access this funding.

Here is the bill text:

Sec. 604. Coronavirus Capital Projects Fund