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The U.S. Department of Treasury has released proposed regulations for the RESTORE Act in the Federal Register. The proposed regulations contain procedures required by the RESTORE Act, outlining financial management, auditing, and reporting procedures for the Gulf Coast Restoration Trust Fund. As with the other components of the RESTORE Act, the NOAA RESTORE Science Program will be funded through this Trust Fund.
The Department of Treasury will be accepting comments on the proposed regulations for 60 days starting from their Federal Register publication date of September 6, 2013 and anticipates publishing binding procedures soon after the public comment period closes. For more information on the regulations, please visit the Department of Treasury’s website. To provide comments, please go to the Proposed Rule for the Gulf Coast Restoration Trust Fund at regulations.gov.