Governor Henry McMaster has released recommendations to the General Assembly for how the Phase II expenditure of CARES Act funds should be invested.
“As you are aware, the AccelerateSC task force conducted a thorough review of the CARES Act and made expenditure reimbursement recommendations for COVID-19 prevention efforts, and for measures for returning our state’s economic engines to full speed,” the governor writes.
The governor’s recommendations include $450 million to replenish the Unemployment Trust Fund, $45 million in grants for small businesses and non-profit organizations that did not receive federal Paycheck Protection Program (PPP) loans, and $93 million to reimburse DHEC and MUSC for their continued COVID-19 efforts.
The governor also recommends $50 million to be reimbursed for public school districts and charter school for COVID-19 related costs incurred by reopening, and $100 million to be reimbursed to state agencies with verifiable COVID-19 related expenses.
To view the governor’s letter to the General Assembly, visit governor.sc.gov.