Cassidy Announces RESTORE Act Final Interim Rule Now Effective

WASHINGTON – Today, Congressman Bill Cassidy (R-LA) announced that the U.S. Treasury Department’s Interim Final Rule under the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States (RESTORE) Act, is now effective. The RESTORE Act allocates funding for environmental restoration and economic development projects to Gulf States affected by the Deepwater Horizon oil spill to receive funding for environmental restoration and economic development projects.

Under an Interim Final Rule, published on August 15 and effective today, 35 percent of the Gulf Coast Restoration Trust Fund is divided among Louisiana, Alabama, Mississippi, Texas and Florida for environmental and economic restoration projects.  A second Interim Final Rule, also effective today, finalizes an additional allocation for 20 parishes in Louisiana.

Dr. Cassidy, along with Senator David Vitter and House Majority Whip Steve Scalise, have been urging the Treasury Department to stop slow-walking developing and finalizing the regulations that determine how the funds are disbursed to Gulf Coast states. 

Dr. Cassidy and Rep. Scalise also helped prevent a $10.2 million dollar cut in funding for the Gulf Coast Restoration Trust Fund, proposed by the Senate Appropriations Committee.  Secured in the omnibus appropriations bill, $7.4 million of the $10.2 million dollars is allocated for the RESTORE Act.

Dr. Cassidy released the following statement:  

“Louisianans have been waiting a long time for funding for coastal restoration projects. Fully implementing the RESTORE Act is a step in the right direction, but there’s more work to be done. More than 600 miles of Louisiana’s shoreline was affected by the Deepwater Horizon oil spill—that’s more than three times the amount suffered by any other Gulf State. Ensuring that Louisiana receives its fair share of funding to restore our coasts and protect families from future storms is a priority.”