The RESTORE Act provides that 80% of the civil penalties recovered as a result of the Deepwater Horizon oil spill be directed to the Gulf Coast Restoration Trust Fund (Trust Fund) to be used by the five Gulf Coast states to restore and protect the environment and economy in the Gulf Coast region. Monies in the Trust Fund are distributed to five different components, one of which is the Direct Component, also referred to as Bucket 1. This component requires Mississippi, through MDEQ, to prepare a MIP describing each activity, project or program for which Mississippi seeks funding under Bucket 1 and accounts for 35% of the funds directed to the Trust Fund. Mississippi, as determined by the RESTORE Act, will receive 7% of the 35% allocation in Bucket 1. The amount currently available to Mississippi under this Bucket is $56,292,336.92. This amount does not include monies that would result from the proposed settlement with BP.
*Funding for all projects included on the MIP is subject to approval by the U.S. Department of the Treasury. Inclusion of a project in the MIP does not guarantee funding.