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HB24-1466

Refinance Federal Coronavirus Recovery Funds

Concerning exchanging money received from the federal coronavirus state fiscal recovery fund with state money, and, in connection therewith, ensuring that money received from the federal coronavirus state fiscal recovery fund is spent in accordance with deadlines established in federal law and making and reducing appropriations.
Session:
2024 Regular Session
Subject:
State Government
Bill Summary

Joint Budget Committee. The state received money from the federal coronavirus state fiscal recovery fund pursuant to the "American Rescue Plan Act of 2021" (ARPA money). ARPA money was deposited into the "American Rescue Plan Act of 2021" cash fund and then transferred to various cash funds (recipient funds) and appropriated for various programs.

The bill requires the state treasurer to transfer specified amounts of ARPA money from specified recipient funds at the close of the 2023-24 state fiscal year to the "American Rescue Plan Act of 2021" cash fund. The bill requires the state treasurer to transfer money from the general fund to a new ARPA refinance state money cash fund. Money in the new ARPA refinance state money cash fund is transferred to the specified recipient funds.

The bill requires the general assembly to appropriate ARPA money from the "American Rescue Plan Act of 2021" cash fund to state departments for personal services in fiscal year 2023-24. For fiscal year 2024-25, the general assembly shall appropriate the balance of the cash fund for personal services or for other purposes permitted under the "American Rescue Plan Act of 2021", and the money so appropriated must be expended on or before January 31, 2025.

On December 1, 2024, any unspent and unobligated money in a recipient fund, other than money designated for personal services or operating costs that will be spent by January 31, 2025, reverts to the "American Rescue Plan Act of 2021" cash fund. The reverted money is continuously appropriated to any department designated by the governor for any purpose that was funded with general fund money in the general appropriations act for fiscal year 2024-25.

After December 31, 2024, any ARPA money in a recipient fund that was obligated as of December 31, 2024, but not expended on an eligible activity at the conclusion of the appropriation reverts to the "American Rescue Plan Act of 2021" cash fund and is continuously appropriated to any department designated by the governor for any purpose for which a general fund appropriation was made in the general appropriation act for the state fiscal year in which the reversion occurred.

The amount of general fund money appropriated in a line item in a general appropriations act is reduced by the amount of ARPA money appropriated pursuant to the bill's provisions that is spent for the line item.

The bill repeals the requirement for a subrecipient to obligate ARPA money by November 30, 2024.

The bill authorizes the state controller to take certain measures to implement the bill and ensure that ARPA money is expended within the time allowed by federal law. The governor and the state controller shall jointly submit a report to the joint budget committee, the speaker of the house of representatives, the minority leader of the house of representatives, the president of the senate, and the minority leader of the senate about the transfers in the bill and about spending ARPA money.

The bill makes changes to various programs related to refinancing ARPA money, including clarifying spending and obligation deadlines for program money that is not ARPA money and exempting the use of state money from requirements for capitol construction projects that use federal money. The bill makes changes to appropriations.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details