Bill > HB1466

This bill refinances federal Coronavirus State Fiscal Recovery Fund money with state money to ensure compliance with federal spending deadlines and to allow for continued program implementation. * The bill transfers approximately $1.1 billion from various funds that originated from the federal Coronavirus State Fiscal Recovery Fund to the "American Rescue Plan Act of 2021" cash fund. These transfers are scheduled for June 30, 2024. * Specific transfers include: * $248,244,083.62 from the Discretionary Account. * $268,744,342.71 from the Behavioral and Mental Health Cash Fund. * $135,875,548.54 from the Economic Recovery and Relief Cash Fund. * $299,362,302.73 from the Revenue Loss Restoration Cash Fund. * $75,330,000 from the State Highway Fund. * Other significant transfers are directed to funds for broadband, economic development, affordable housing, infrastructure, and transportation. * The bill allows for the appropriation of these federal funds for personal services in fiscal year 2023-24 and the first half of fiscal year 2024-25, with a deadline of January 31, 2025, for spending. * Federal funds that originated from the Coronavirus State Fiscal Recovery Fund must be obligated by December 31, 2024, and expended by December 31, 2026. * Any unspent and unobligated federal funds, other than those designated for personal services or operating costs, will revert to the "American Rescue Plan Act of 2021" cash fund on December 1, 2024, and are continuously appropriated until January 31, 2025, for purposes for which a General Fund appropriation was made in fiscal year 2024-25. * The bill reduces General Fund appropriations for personal services by the amount of federal funds spent for those purposes in fiscal years 2023-24 and 2024-25. * A report on the expenditure of federal funds and related General Fund adjustments is due by September 15, 2024.