On November 9, 2023, the U.S. Department of Treasury unveiled the Obligation Interim Final Rule that provides counties and other State & Local Fiscal Recovery Fund recipients with clarification and flexibilities as it relates to the definition of 'obligation' provided through Treasury's Final Rule published in January 2022.
This Obligation IFR does not change the statutory obligation deadline of December 31, 2024.
Read why Treasury released the Obligation IFR, what it does, how counties can take advantage of this new flexibility and more in the Article authored by Paige Mellerio, NACo Associate Legislative Director-Finance, Pensions & Intergovernmental Affairs.