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Bill > HB1466

CO HB1466

CO HB1466
Refinance Federal Coronavirus Recovery Funds

summary

Introduced
04/24/2024
In Committee
05/02/2024
Crossed Over
05/23/2024
Passed
05/23/2024
Dead
Signed/Enacted/Adopted
06/05/2024

Introduced Session

2024 Regular Session

Bill Summary

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.

AI Summary

This bill aims to ensure that Colorado spends the federal COVID-19 relief funds (known as ARPA money) it received from the American Rescue Plan Act of 2021 by the required deadlines. The key provisions are: 1. The state will transfer most of the ARPA funds appropriated for programs intended to be spent after December 31, 2024, to state funds, maintaining the program funding but changing the source. This is to preserve flexibility after the federal deadline. 2. The state will use the ARPA funds for personal services retroactively in fiscal years 2023-24 and 2024-25 to ensure all unobligated ARPA money is spent by the end of 2024, as required by federal law. 3. The bill establishes procedures for monitoring and reporting on the use of ARPA funds, including reducing General Fund appropriations by the amount of ARPA funds used for personal services. The goal is to meet the federal deadlines for obligating and spending the ARPA funds while continuing to support the intended programs and services.

Committee Categories

Budget and Finance

Sponsors (14)

Last Action

Governor Signed (on 06/05/2024)

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Document Type Source Location
State Bill Page https://leg.colorado.gov/bills/hb24-1466
Fiscal Note FN3 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1466_f1.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_enr.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_rer.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_rev.pdf
Fiscal Note/Analysis - Budget Staff Analysis SA2 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1466_sen.pdf
Fiscal Note FN2 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1466_r1.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_ren.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_eng.pdf
Second Reading Amendment L.002 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/505E43554B5F139A87258B0E0066CE19/HB1466_L.002.pdf
House Appropriations Amendment L.001 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/9C1B1C6309689C3D87258B0A00718AD2/HB1466_L.001.pdf
Fiscal Note/Analysis - Budget Staff Analysis SA1 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1466_hse.pdf
Fiscal Note FN1 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1466_00.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1466_01.pdf
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