Author: David J. Marella

American Rescue Plan Act of 2021 Includes Significant Mental Health Investment

Providers of mental health services may be eligible for funding, loans, and grants as detailed below. On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021. One key component of the $1.9 trillion initiative is an investment of more than $3.5 billion toward behavioral and mental health services. This funding covers a variety of providers and mental health consumers. Section 2701 Funding for Block Grants for Community Mental Health Services $1.5 billion for carrying out certain aspects of the Public Health Service Act (“PHS Act”), as they relate to mental health: 42 U.S.C. 300x et seq. – block grants for states providing community mental health services for adults with serious mental illnesses and children with serious emotional disturbances 42 U.S.C. § 290aa-4(c) – behavioral and mental health statistics Section 3052 Funding for Block Grants for Prevention and Treatment of Substance Abuse $1.5 billion for carrying out certain aspects of the PHS Act, as they relate to mental health Block grants for states Section 2703 Funding for Mental and Behavioral Health Training for Healthcare Professionals, Paraprofessionals, and Public Safety Officers $80 million to award grants to health professional schools, academic health centers, state and local governments, and other appropriate public and private nonprofit entities, to plan, operate, or participate in trainings and...

The Corporate Transparency Act: Understanding New Federal Reporting Requirements of Company Ownership

New anti-money laundering legislation was included as part of the National Defense Authorization Act (NDAA) enacted by Congress on January 1, 2021 through the override of a presidential veto. The NDAA is a series of federal laws primarily specifying the annual budget and expenditures of the United States Department of Defense. The NDAA for Fiscal Year 2021 includes the expansive Anti-Money Laundering Act of 2020 (AMLA) with the purpose of updating and amending the country’s anti-money laundering laws. It has long been acknowledged that the United States lags behind other developed countries in its safeguards designed to prevent the flow of illicit money—so much so that the Tax Justice Network, an independent institution that indexes countries’ financial secrecy, currently ranks the United States as the second most financially secretive jurisdiction, ranking behind only the Cayman Islands and just ahead of Switzerland1. Together with the AMLA, Congress also enacted the Corporate Transparency Act (CTA), which directs the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to establish and maintain a national registry of beneficial owners of entities that are deemed “reporting companies.”2 In so acting, Congress stated that bad actors seek to conceal their ownership of business entities through the use of shell companies in order to facilitate illicit activities including money laundering, the financing of terrorism,...