HOUSE BILL 22-1342
BY REPRESENTATIVE(S) Herod and Ransom, McCluskie, Esgar, Exum,
Gonzales-Gutierrez, Lindsay, Mullica, Ricks, Snyder, Titone, Valdez A.,
Garnett;
also SENATOR(S) Hansen and Rankin, Zenzinger, Buckner, Gonzales,
Lee, Moreno, Pettersen, Fenberg.
C
ONCERNING THE REQUIREMENT THAT INTEREST AND INCOME DERIVED
FROM THE DEPOSIT AND INVESTMENT OF FEDERAL FUNDS THAT THE
STATE RECEIVED FROM THE FEDERAL CORONAVIRUS STATE FISCAL
RECOVERY FUND BE CREDITED TO THE STATE EMERGENCY RESERVE
CASH FUND
.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 24-75-226, amend
(3)(c) and (4)(c) as follows:
24-75-226. "American Rescue Plan Act of 2021" cash fund -
creation - recipient funds - limitations - reporting - definitions - repeal.
(3) (c) The state treasurer shall credit all interest and income derived from
the deposit and investment of money in the fund to the
STATE EMERGENCY
RESERVE CASH
fund CREATED IN SECTION 24-77-104 (6)(a).
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act. (4) (c) (I) Notwithstanding any provision of law to the contrary, in
order to ensure proper accounting for and compliance with the "American
Rescue Plan Act of 2021", whenever money is transferred or appropriated
to a recipient fund that also has money from other sources, the state
controller or department controller shall create a companion cash fund that
includes only the money the state received from the federal coronavirus
state fiscal recovery fund under section 9901 of title IX, subtitle M of the
"American Rescue Plan Act of 2021", but that is otherwise legally identical
to the recipient fund,
EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
(4)(c)(II) OF THIS SECTION.
(II) N
OTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY ,
THE STATE TREASURER SHALL CREDIT ALL INTEREST AND INCOME DERIVED
FROM THE DEPOSIT AND INVESTMENT OF MONEY IN A RECIPIENT FUND THAT
ORIGINATES FROM MONEY THE STATE RECEIVED FROM THE FEDERAL
CORONAVIRUS STATE FISCAL RECOVERY FUND TO THE STATE EMERGENCY
RESERVE CASH FUND CREATED IN SECTION
24-77-104 (6)(a).
SECTION 2. In Colorado Revised Statutes, 24-77-104, amend
(6)(a) as follows:
24-77-104. State emergency reserve - cash fund - creation -
declaration of emergency - reimbursement of emergency reserve
expenditures. (6) (a) The state emergency reserve cash fund, referred to
in this subsection (6) as the "fund", is hereby created in the state treasury.
The fund consists of money transferred to the fund pursuant to subsection
(6)(c) of this section,
INTEREST AND INCOME CREDITED TO THE FUND
PURSUANT TO SECTION
24-75-226 (4)(c)(II), and any other money that the
general assembly may appropriate to the fund. The state treasurer shall
credit all interest and income derived from the deposit and investment of
money in the state emergency reserve cash fund to the fund.
SECTION 3. In Colorado Revised Statutes, 13-40-127, amend
(9)(a) as follows:
13-40-127. Eviction legal assistance - fund - rules - report -
definitions - repeal. (9) (a) In accordance with section 24-75-229 (4), three
days after June 25, 2021, the state treasurer shall transfer one million five
hundred thousand dollars from the affordable housing and home ownership
PAGE 2-HOUSE BILL 22-1342 cash fund created in section 24-75-229 (3)(a) to the fund for the purpose of
providing legal representation to indigent tenants to resolve civil legal
matters arising on and after March 1, 2020, for an eviction or impending
eviction related to the public health emergency caused by the COVID-19
public health emergency. The money transferred to the fund pursuant to this
subsection (9)(a) must be maintained in a separate account and must be used
only for the purposes specified in this subsection (9)(a). N
OTWITHSTANDING
SUBSECTION
(5)(b) OF THIS SECTION, THE STATE TREASURER SHALL CREDIT
ALL INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT
OF MONEY IN THE ACCOUNT TO THE STATE EMERGENCY FUND CREATED IN
SECTION
24-77-104 (6)(a) IN ACCORDANCE WITH SECTION 24-75-226
(4)(c)(II). The general assembly shall appropriate the money transferred to
the fund pursuant to this subsection (9)(a) to the administrator for use in
accordance with this subsection (9)(a). The administrator shall use the
money by December 31, 2024, for the purposes specified in this subsection
(9)(a).
SECTION 4. In Colorado Revised Statutes, 23-3.3-1005, add (8)
as follows:
23-3.3-1005. Colorado opportunity scholarship initiative fund
- created - rules - repeal. (8) (a) N
OTWITHSTANDING SUBSECTION (2) OF
THIS SECTION
, THE STATE TREASURER SHALL CREDIT ALL INTEREST AND
INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY
APPROPRIATED TO THE FUND PURSUANT TO SUBSECTIONS
(6)(a) AND (7)(a)
OF THIS SECTION TO THE STATE EMERGENCY FUND CREATED IN SECTION
24-77-104 (6)(a) IN ACCORDANCE WITH SECTION 24-75-226 (4)(c)(II).
(b) T
HIS SUBSECTION (8) IS REPEALED, EFFECTIVE JULY 1, 2026.
SECTION 5. In Colorado Revised Statutes, 24-4.2-103, amend (2)
as follows:
24-4.2-103. Victims and witnesses assistance and law
enforcement fund - control of fund. (2) All moneys
MONEY deposited in
the fund shall be deposited in an interest-bearing account, which would be
a legal investment for the state treasurer. All interest earned by moneys
AND
INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY
in the
fund shall be credited to the fund,
EXCEPT AS OTHERWISE PROVIDED IN
SECTION
24-75-226 (4)(c)(II).
PAGE 3-HOUSE BILL 22-1342 SECTION 6. In Colorado Revised Statutes, 24-32-721, amend
(3)(a) as follows:
24-32-721. Colorado affordable housing construction grants and
loans - housing development grant fund - creation - housing assistance
for persons with behavioral, mental health, or substance use disorders
- cash fund - appropriation - report to general assembly - rules -
definitions - repeal. (3) (a) E
XCEPT AS OTHERWISE PROVIDED IN SECTION
24-75-226 (4)(c)(II), any money in the fund not expended or encumbered
from any appropriation at the end of any fiscal year, including interest
AND
INCOME
earned on the investment or deposit of money in the fund, remains
in the fund and does not revert to the general fund or any other fund and
remains available for expenditure by the division in subsequent fiscal years
for the purposes specified in subsection (1.5) or (2) of this section without
further appropriation.
SECTION 7. In Colorado Revised Statutes, 24-32-3207, amend (4)
as follows:
24-32-3207. Colorado heritage communities fund - creation -
source of funds. (4) E
XCEPT AS OTHERWISE PROVIDED IN SECTION
24-75-226 (4)(c)(II), all moneys
MONEY, including interest AND INCOME
earned on the investment or deposit of moneys MONEY in the fund, shall
remain in the fund and shall not revert to the general fund of the state at the
end of any fiscal year.
SECTION 8. In Colorado Revised Statutes, 24-37.5-119, amend
(4)(b)(I) as follows:
24-37.5-119. Broadband service - report - broadband
deployment board - broadband administrative fund - creation - rules
- legislative declaration - definitions - repeal. (4) (b) (I) The broadband
stimulus account, referred to in this subsection (4)(b) as the "account", is
hereby created in the fund and consists of money the state received from the
federal coronavirus state fiscal recovery fund created in the federal
"American Rescue Plan Act of 2021", Pub.L. 117-2, and any money that the
general assembly may appropriate. Within three days after July 7, 2021, the
state treasurer shall transfer thirty-five million dollars from the economic
recovery and relief cash fund created in section 24-75-228 (2)(a) to the
account. The money in the account is subject to annual appropriation by the
PAGE 4-HOUSE BILL 22-1342 general assembly for use by the board for the purpose of reviewing and
awarding grants under the broadband stimulus grant program created in
subsection (9.5) of this section. All interest
AND INCOME earned from THE
DEPOSIT AND
investment of money in the account is credited to the accountSTATE EMERGENCY RESERVE CASH FUND CREATED IN SECTION 24-77-104
(6)(a)
IN ACCORDANCE WITH SECTION 24-75-226 (4)(c)(II). All money not
expended from the account at the end of a fiscal year remains in the account
and does not revert to the economic recovery and relief cash fund created
in section 24-75-228 (2)(a) or any other fund.
SECTION 9. In Colorado Revised Statutes, 24-48.5-131, amend
(9)(b) as follows:
24-48.5-131. Colorado startup loan program - fund - creation -
policies - report - legislative declaration - definitions - repeal.
(9) (b) The state treasurer shall credit all interest and income derived from
the deposit and investment of money in the fund to the fund,
EXCEPT AS
OTHERWISE PROVIDED IN SECTION
24-75-226 (4)(c)(II).
SECTION 10. In Colorado Revised Statutes, 24-75-227, repeal
(2)(b)(II) as follows:
24-75-227. Revenue loss restoration cash fund - creation -
allowable uses - definitions - repeal. (2) (b) (II) The state treasurer shall
credit all interest and income derived from the deposit and investment of
money in the fund to the fund.
SECTION 11. In Colorado Revised Statutes, 24-75-228, repeal
(3)(b) as follows:
24-75-228. Economic recovery and relief cash fund - creation -
allowable uses - interim task force - report - legislative declaration -
definitions - repeal. (3) (b) The state treasurer shall credit all interest and
income derived from the deposit and investment of money in the fund to the
fund.
SECTION 12. In Colorado Revised Statutes, 24-75-229, repeal
(3)(b)(II) as follows:
24-75-229. Affordable housing and home ownership cash fund
PAGE 5-HOUSE BILL 22-1342 - creation - allowable uses - task force - legislative declaration -
definitions - repeal. (3) (b) (II) The state treasurer shall credit all interest
and income derived from the deposit and investment of money in the fund
to the fund.
SECTION 13. In Colorado Revised Statutes, 24-75-230, repeal
(2)(b)(II) as follows:
24-75-230. Behavioral and mental health cash fund - creation -
allowable uses - task force - definitions - repeal. (2) (b) (II) The state
treasurer shall credit all interest and income derived from the deposit and
investment of money in the fund to the fund.
SECTION 14. In Colorado Revised Statutes, 24-75-231, repeal
(2)(b)(II) as follows:
24-75-231. Workers, employers, and workforce centers cash
fund - creation - allowable uses - definitions - repeal. (2) (b) (II) The
state treasurer shall credit all interest and income derived from the deposit
and investment of money in the fund to the fund.
SECTION 15. In Colorado Revised Statutes, 39-22-802, amend (1)
as follows:
39-22-802. Contributions credited to Colorado domestic abuse
program fund - creation - appropriation. (1) The department of revenue
shall determine annually the total amount designated pursuant to section
39-22-801 and shall report such amount to the state treasurer. The state
treasurer shall credit such amount to the Colorado domestic abuse program
fund, a cash fund hereby established in the state treasury. The controller,
upon presentation of vouchers properly drawn and signed by the executive
director of the department of human services, pursuant to section
26-7.5-105, C.R.S.,
shall issue warrants drawn on the Colorado domestic
abuse program fund. All moneys MONEY in the Colorado domestic abuse
program fund at the end of a fiscal year, after appropriations made pursuant
to subsection (3) of this section, shall remain in the fund to be used for the
purposes set forth in article 7.5 of title 26 C.R.S.,
and shall not revert to the
general fund. Any interest earned on moneys DERIVED FROM THE DEPOSIT
AND INVESTMENT OF MONEY
in the fund shall remain in the fund to be used
for the purposes of article 7.5 of title 26, C.R.S.
EXCEPT AS OTHERWISE
PAGE 6-HOUSE BILL 22-1342 PROVIDED IN SECTION 24-75-226 (4)(c)(II).
SECTION 16. Safety clause. The general assembly hereby finds,
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, or safety.
____________________________ ____________________________
Alec Garnett Steve Fenberg
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Robin Jones Cindi L. Markwell
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
PAGE 7-HOUSE BILL 22-1342