The Comptroller’s office is committed to ensuring local government entities in Texas have access to stimulus funding information, guidelines and assistance. We’ll add to these resources as they become available.
We encourage Texas local governments to become familiar with the Coronavirus Relief Fund and the Commercial Paper Funding Facility as opportunities to secure stimulus funding for their communities.
The Commercial Paper Funding Facility (CPFF) is intended to relieve the stress on the commercial paper market caused by the pandemic, which has chilled investors and prompted high interest rates on longer-term notes, such as those with maturities of three months, as noted by the Federal Reserve Bank of New York.
The CPFF will enhance the liquidity of commercial paper by increasing the availability of term funding to issuers and by providing greater assurance to issuers and investors that firms and municipalities can roll over their maturing paper.
The facility will do this through a special purpose vehicle (SPV) that will buy eligible three-month unsecured commercial paper and asset-backed commercial paper from eligible issuers, including municipal governments. The New York Fed will provide this financing to the SPV.
The SPV will hold the commercial paper until it matures, and use proceeds from the paper and other assets to repay its loan to the New York Fed. The U.S. Treasury will make a $10 billion equity investment in the SPV. The SPV will cease to purchasing commercial paper on March 17, 2021, unless the Board extends the facility.
The deadline to apply for the CRF was Oct. 16, 2020. Local governments should note that under the Consolidated Appropriations Act, 2021, any funds received must be spent by Dec. 31, 2021 or returned to the federal government. The prior deadline established by the CARES Act was Dec. 31, 2020.
|Texas (less Houston and San Antonio)||$227,056,156|
Source: U.S. Department of Health and Human Services,
|Amounts Apportioned to Urbanized Areas with 1 million or More in Population:|
|Dallas – Fort Worth – Arlington||$128,511,228|
|Amounts Apportioned to Urbanized Areas with 200,000 to 1 Million in Population:|
|Texas (less areas listed)||$6,847,837|
|Amounts Apportioned to Urbanized Areas with Populations of 200,000 or More:|
|Conroe – The Woodlands||$33,016|
|Dallas – Fort Worth – Arlington||$661,250|
|Denton – Lewisville||$41,938|
|Amounts Apportioned to State Governors for Urbanized Areas with Populations of 50,000 to 199,999:|
|Amounts Apportioned to State Governors for Non-urbanized Areas with Populations Less than 50,000:|
In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.