The Department of Treasury has released a link to guidance for the CERTS grant program today. Please visit the Treasury's CERTS Act web page for information on how to apply for the grant funding when they open the application portal at a later date.
Key Guidance Highlights:
- This is guidance only, to prepare for the application process. The application process and portal to apply are not yet available.
- When applications become available and the application portal is open, there will be a four-week window to submit applications.
- At the end of the 4-week period, after Treasury receives the applications, it will determine how much each industry sector receives and how much each applicant will receive.
- Grants will be awarded by comparing 2020 revenue vs. 2019 revenue.
- Grant amounts will be adjusted based on other federal assistance received.
- Treasury will rely on information from tax documents to validate an applicants revenues and employment.
- Motorcoach operators will need to validate the number of vehicles by type.
- Companies that receive grants will have one year to use them.
Working with Treasury officials to open the CERTS grant funding program has been a main priority for ABA as we work together to get the industry healthy once again. ABA is working with Congress and the Administration on future funding opportunities for the industry.