American Recovery and Reinvestment Act (ARRA)
AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA)
On February 17, 2009, President Obama signed Public Law 111-5. The legislation, referred to as the American Recovery and Reinvestment Act of 2009, provides to the Department of Transportation, among other things, $48.1 billion for infrastructure development. Of this amount, $1.1 billion is provided to FAA from the General Fund for airport-related purposes. Congress has specifically mandated that both the sponsors and the FAA report on the use of funds provided under the ARRA to (a) assure transparency and oversight of the distribution of the funding, and (b) assure the effective administration of the ER funds as envisioned by Congress. With respect to covered funds made available to State or local governments for infrastructure investments, the Governor, mayor, or other chief executive, as appropriate, shall certify that the infrastructure investment has received the full review and vetting required by law and that the chief executive accepts responsibility that the infrastructure investment is an appropriate use of taxpayer dollars. On March 19, 2009 the Sarasota Bradenton International Airport received a $4.75 Million Stimulus Grant. Please see our Airport Sponsor Certification below. SRQ Airport Sponsor Certification Additional information about the American Recovery and Reinvestment Act can be found at www.Recovery.gov.