Page 1
May 1, 2024 HB 24-1466
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Revised Fiscal Note
(replaces fiscal note dated April 25, 2024)
Drafting Number:
Prime Sponsors:
LLS 24-0966
Rep. Bird; Taggart
Sen. Zenzinger; Kirkmeyer
Date:
Bill Status:
Fiscal Analyst:
May 1, 2024
Senate Appropriations
Erin Reynolds | 303-866-4146
erin.reynolds@coleg.gov
Bill Topic: REFINANCE FEDERAL CORONAVIRUS RECOVERY FUNDS
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☒ State Transfer
☐ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
The bill refinances various programs that received federal funding as a result of the
COVID-19 pandemic. It makes various state transfers and appropriations to expedite
spending of American Rescue Plan Act (ARPA) money before relevant federal
deadlines, and free up General Fund for other uses.
Appropriation
Summary:
The bill requires appropriation adjustments for in the current FY 2023-24 and
FY 2024-25. See State Appropriations and Transfers (“Swaps”) section.
Fiscal Note
Status:
The revised fiscal note reflects the reengrossed bill, which was recommended by the
Joint Budget Committee.
Table 1
1
State Fiscal Impacts Under HB 24-1466
Current Year Budget Year
Steps for Refinancing ARPA Funds FY 2023-24 FY 2024-25
1 – Transfer Unspent APRA Money
Transfer from Various ARPA Recipient Funds ($1,605,182,048) -
Transfer to ARPA Refinance State Money Cash Fund $1,605,182,048 -
2 – Refinance Personal Services Expenditures Over Two Years
General Fund Expenditures ($1,018,000,000) ($587,182,048)
ARPA Refinance State Money Cash Fund Expenditures $1,018,000,000 $587,182,048
3 – Appropriations and Transfer General Fund Savings for Program Spending
Transfer From General Fund ($1,394,623,617) -
Transfer to Various ARPA Recipient Funds $1,394,623,617 -
Net Change in Available General Fund (net of 2 and 3 above) ($376,623,617) $587,182,048
Two-Year Change
2
$210,558,431
1
Amounts in Table 1 are inclusive of certain amounts that are also adjusted in HB 24-1465.
2
The two-year change in General Fund made available as a result of this bill has been accounted by the Joint Budget
Committee in its budget balancing. Page 2
May 1, 2024 HB 24-1466
Summary of Legislation
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 (ARPA Cash Fund) and then transferred to various
cash funds (recipient funds) and appropriated for various programs for use of several years. This
bill “swaps” money between various ARPA funds and the General Fund. The bill works in tandem
with House Bill 24-1465. Additional detail on these bills can be found in this Joint Budget
Committee Staff memo.
Transfers. The bill requires the State Treasurer to transfer:
specified amounts of ARPA money from recipient funds at the close of FY 2023-24 to the
ARPA Cash Fund, totaling $1.6 billion; and
$1.4 billion from the General Fund to the newly created ARPA Refinance State Money Cash
Fund on July 1, 2024, which goes back to these various recipient funds.
Refinance of personal services. The bill requires the General Assembly to refinance personal
services expenses paid with General Fund by using ARPA funds instead in FY 2023-24 and
FY 2024-25, freeing up General Fund to spend on programs funded with ARPA money.
Appropriations and transfers (“swaps”). The bill makes appropriations and transfers totaling
$1.4 billion to programs originally funded with ARPA money, using General Fund freed up from
the refinance of personal services.
Use of unspent ARPA funds. On December 1, 2024, any unspent and unobligated money that
originated from ARPA funds, other than money designated for personal services or operating
costs, reverts to the ARPA Cash Fund. The reverted money is continuously appropriated until
January 31, 2025 to any department designated by the Governor for any purpose that was
funded with General Fund in the FY 2024-25 Long Bill.
After December 31, 2024, any ARPA funds in a recipient fund that were obligated as of
December 31, 2024, but not expended on an eligible activity at the conclusion of the fiscal year
for which the appropriation was authorized, reverts to the ARPA Cash Fund. The reverted money
is continuously appropriated through December 31, 2026, to any department designated by the
Governor for any purpose for which a General Fund appropriation was made in the Long Bill for
the state fiscal year in which the reversion occurred.
Any federal funding spent by the Governor drives an equal General Fund reversion for those
funds.
The bill also repeals the requirement for a subrecipient to obligate ARPA money by
November 30, 2024.
State Controller duties and reporting. The bill authorizes the State Controller in the
Department of Personnel and Administration (DPA) 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
and legislative leadership about the transfers in the bill and about spending ARPA money. Page 3
May 1, 2024 HB 24-1466
Other provisions and clarifications. 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
capital construction projects that use federal money.
State Transfers
The bill, in concert with House Bill 24-1465, makes the following transfers from various cash
funds into the ARPA Cash Fund in the current FY 2023-24, totaling $1.6 billion. It then transfers
$1.4 billion from the General Fund to these various recipient funds in FY 2024-25. The difference
between these two transfers reflects the amount remaining unallocated by the General
Assembly, totaling $125 million, changes in program spending for the various programs
originally funded with ARPA money made in HB 24-1465, and $12 million in funds reverted from
various programs that have already concluded spending.
Table 2
Transfers Under HB 24-1466
Recipient Fund
Transfer from
Recipient Fund to
ARPA Cash Fund*
Transfer from
General Fund to
Recipient Fund Difference
Affordable Housing and Home Ownership Cash Fund * $70,582 - $70,582
American Rescue Plan Act of 2021 Cash Fund * $249,344,084 $248,244,084 $1,100,000
Behavioral and Mental Health Cash Fund * $268,744,343 $212,881,576 $55,862,767
Broadband Administrative Fund $14,500,000 $14,500,000 -
Colorado Economic Development Fund $7,134,282 $7,134,282 -
Colorado Heritage Communities Fund $10,368,159 $10,368,159 -
Colorado Opportunity Scholarship Initiative Fund * $21,545,307 $11,545,307 $10,000,000
Colorado Water Conservation Board Const. Fund $7,000,000 $7,000,000 -
Connect. Co. Exp. Homelessness with Services Fund $90,980,000 $90,980,000 -
Digital Inclusion Grant Program Fund $11,002,529 $11,002,529 -
Economic Recovery and Relief Cash Fund * $135,875,549 $129,293,242 $6,582,307
Healthy Forests and Vibrant Communities Fund $3,000,000 $3,000,000 -
Housing Development Grant Fund $20,000 $20,000 -
Infra. and Strong Communities Grant Program Fund $29,209,576 $29,209,576 -
Judicial Dep’t Information Technology Cash Fund $17,000,000 $17,000,000 -
Local Invest. in Transformational Aff. Housing Fund $125,600,000 $125,600,000 -
Multimodal Trans. and Mitigation Options Fund $96,160,000 $96,160,000 -
Regional Navigation Campus Cash Fund $49,652,936 $49,652,936 -
Regional Talent Dev. Initiative Grant Program Fund $68,730,000 $68,730,000 -
Revenue Loss Restoration Cash Fund * $299,362,303 $163,541,565 $135,820,738
Rural Provider Access and Affordability Fund $2,300,000 $2,300,000 -
State Highway Fund $75,330,000 $75,330,000 -
Wildfire Mitigation Capacity Development Fund $40,000 $40,000 -
Workers, Employers, and Workforce Cash Fund * $22,212,399 $21,090,361 $1,122,038
Total $1,605,182,048 $1,394,623,617 $210,558,431
* Some of these amounts are also accounted for in HB 24-1465, which this bill is conditional upon taking effect.
Page 4
May 1, 2024 HB 24-1466
State Expenditures
The bill refinances General Fund spending on personal services using ARPA Cash Funds in
FY 2023-24 and FY 2024-25. The amounts spent from the ARPA Cash Funds are shown in
Table 3, and are equal to the amount transferred to the fund, as shown in Table 2. This will
increase APRA Cash Fund spending by $1.6 billion over two years, and reduce General Fund
expenditures by the same amount.
Table 3
Expenditures Under HB 24-1466
Department
FY 2023-24
11-Month
GF Refinance
FY 2024-25
5-Month
GF Refinance Two-Year Total
Department of Corrections $495,000,000 $324,000,000 $819,000,000
Department of Human Services $214,000,000 $63,182,048 $277,182,048
Judicial Department $309,000,000 $200,000,000 $509,000,000
Total $1,018,000,000 $587,182,048 $1,605,182,048
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature, except that sections 53 to 66 and section 82 only take effect if House Bill 24-1465
becomes law, and section 6 takes effect only if House Bill 24-1231 becomes law.
State Appropriations and Transfers (“Swaps”)
The bill makes the following adjustments to appropriations made in prior year bills as listed in
Table 4 below. In some cases, these are statutory transfers. “Swaps” are paid using General Fund
revenue transferred to the recipient funds as shown in Table 2 above.
Table 4
State Appropriations Adjustments Under HB 24-1466
Bill Section Appropriation
HB21-1264 Section 19 (2) Total $15,651,351
Section 19 (3) Total $2,880,000
Section 19 (4)(a) Total $2,559,010
HB21-1271 Section 12 (1) Total $9,861,200
Section 12 (2) Total $506,959
HB21-1289 Section 15 (1) Total $11,002,529
Section 15 (2) Total $15,330,000
HB21-1330 Section 16 (1) Total $10,463,439
Section 16 (2) Total $1,081,868
HB22-1220 Section 9 (2)(a) Total $7,700,000
HB22-1243 Section 4 (3) Total $1,243,963
HB22-1259 Section 14 Total $400,000
HB22-1281 Section 4 (1)(a) Total $32,200,000
Section 4 (1)(b) Total $6,100,000 Page 5
May 1, 2024 HB 24-1466
Table 4
State Appropriations Adjustments Under HB 24-1466 (Cont.)
Bill Section Appropriation
HB22-1283 Section 10 Total $30,236,662
Section 8 (1)(a) Total $2,900,000
Section 9 Total $431,457
HB22-1302 Section 6 (1) Total $19,231,546
Section 6 (2) Total $1,754,853
HB22-1303 Section 4 (1)(a) Total $372,264
Section 4 (1)(b) Total $346,040
Section 4 (1)(c) Total $9,992
Section 5 (1)(a) Total $1,491,061
Section 5 (1)(c) Total $5,485,761
Section 7 Total $4,857,586
HB22-1304 Section 2 (4)(c) and Section 5 (6) Total $154,809,576
HB22-1326 Section 56 (10) Total $7,459,000
Section 56 (11) Total $4,439,519
HB22-1329 Cap Const. PART I Section (1)(A) Total $1,275,425
Cap Const. PART I Section (1)(B) Total $3,346,671
Cap Const. PART I Section (1)(C) Total $110,000
Cap Const. PART I Section (1)(D) Total $1,315,802
Cap Const. PART I Section (1)(E) Total $829,453
Cap Const. PART I Section (1)(F) Total $12,316,617
Cap Const. PART I Section (1)(G) Total $653,140
Cap Const. PART I Section (1)(H) Total $589,312
Cap Const. PART I Section (1)(I) Total $2,695,489
Cap Const. PART I Section (1)(J) Total $534,862
Cap Const. PART I Section (2)(A) Total $2,206,619
Cap Const. PART I Section (2)(B) Total $668,864
Cap Const. PART I Section (2)(C) Total $2,357,684
Cap Const. PART I Section (2)(D) Total $949,753
Cap Const. PART I Section (2)(E) Total $809,100
Cap Const. PART I Section (2)(F) Total $1,969,340
Cap Const. PART I Section (2)(G) Total $1,457,695
Cap Const. PART I Section (2)(H) Total $1,870,000
Cap Const. PART I Section (2)(I) Total $1,453,992
Cap Const. PART I Section (2)(J) Total $694,207
Cap Const. PART I Section (2)(K) Total $1,282,689
Cap Const. PART I Section (2)(L) Total $254,302
Cap Const. PART I Section (2)(M) Total $739,020
Cap Const. PART I Section (2)(N) Total $1,104,453
Cap Const. PART I Section (2)(O) Total $754,350
Cap Const. PART I Section (2)(P) Total $2,501,384
Cap Const. PART I Section (2)(Q) Total $1,624,790
Page 6
May 1, 2024 HB 24-1466
Table 4
State Appropriations Adjustments Under HB 24-1466 (Cont.)
Bill Section Appropriation
HB22-1329 (cont.) Cap Const. PART I Section (2)(R) Total $2,580
Cap Const. PART I Section (2)(S) Total $1,730,739
Cap Const. PART I Section (2)(T) Total $1,128,906
Cap Const. PART I Section (2)(U) Total $1,022,757
Cap Const. PART I Section (2)(V) Total $2,683,008
Cap Const. PART I Section (2)(W) Total $258,552
Cap Const. PART II Section (1)(A) Total $5,108,877
Cap Const. PART II Section (1)(B) Total $14,908,530
Cap Const. PART II Section (1)(C) Total $123,446
Cap Const. PART II Section (1)(E) Total $51,145,998
Cap Const. PART III Section (2)(D) Total $6,750,000
HB22-1335 Section 3 (3.5) Total $17,000,000
HB22-1350 24-48.5-406 (1)(a)(I) Total $68,730,000
HB22-1356 Section 2 Total $7,160,000
HB22-1369 Section 2 Total $1,500,000
HB22-1377 Section 2 (5)(d) Total $90,980,000
HB22-1378 Section 2 (7) Total $49,652,936
HB22-1379 Section 1(a)(I) and (II) Total $3,040,000
Section (1)(a)(III) through (V) Total $7,000,000
HB22-1380 Section 6 (1) Total $400,000
Section 6 (2) Total $1,814,616
Section 6 (3) Total $810,000
Section 6 (4) Total $1,000,000
Section 6 (5) Total $4,090,500
HB22-1386 Section 6 (2) Total $334,200
HB22-1411 Section 1 (4)(a) Total $70,000,000
SB21-242 Section 2 (g)(I) Total $20,000
SB21-260 Section 7(7)(a)(I) Total $75,330,000
Section 55 (1)(c) & (1.5) and Section 7(7)(a)(II) Total $96,160,000
SB21-288 Section 1 (4)(a) Total $155,320,345
Unallocated SLFRF $22,923,739
SB21-291 Section 2 Total $7,134,282
SB22-028 Section 3 (1) Total $500,000
SB22-147 Section 5 (1) Total $4,414,069
Section 5 (2) Total $3,516,581
Section 5 (3) Total $665,486
SB22-148 Section 3 Total $1,500,000
SB22-177 Section 3 Total $10,500,000
SB22-181 Section 6 (1)(b) Total $3,048,890
Section 6 (1)(c) Total $2,063,133
Section 6 (1)(d) Total $3,000,000
Page 7
May 1, 2024 HB 24-1466
Table 4
State Appropriations Adjustments Under HB 24-1466 (Cont.)
Bill Section Appropriation
SB22-181 (cont.) Section 6 (1)(e) Total $1,928,337
Section 6 (1)(f) Total $4,376,616
Section 6 (1)(g) Total $2,428,337
Section 6 (1)(h) Total $2,928,337
Section 6 (1)(i) Total $1,428,337
Section 7 Total $7,116,823
Section 8 (1)(a) Total $63,018
Section 8 (1)(b) Total $13,206,278
SB22-196 Section 12 (1)(a) Total $449,688
Section 12 (1)(b) Total $24,063,797
Section 12 (2) Total $1,300,000
Section 12 (3)(a) Total $141,563
Section 12 (3)(b) Total $1,547,728
Section 12 (3)(c) Total $1,746,528
Section 12 (5) Total $2,554,126
SB22-200 Section 2 (7)(a) and (b) Total $2,300,000
SB22-211 Section 4 (1) Total $44,090,000
SB22-213 Section 8 (1)(a) Total $6,100,000
Section 8 (1)(b) Total $6,400,000
Section 8 (1)(c) Total $14,247,910
Section 8 (1)(d) Total $6,720,000
Section 8 (1)(e) Total $567,641
SB22-226 Section 12 (1)(a) Total $257,775
Section 12 (1)(b) Total $5,685,000
Section 12 (1)(c) Total $15,019,800
Section 12 (2) Total $4,000,000
SB23-214 Cap Const. PART I Section (2)(F) Total $2,440,000
Cap Const. PART I Section (2)(G) Total $7,297,883
Cap Const. PART I Section (2)(H) Total $1,366,889
Cap Const. PART I Section (2)(L) Total $1,028,925
Cap Const. PART I Section (2)(T) Total $5,628,388
Cap Const. PART I Section (2)(U) Total $1,376,321
Cap Const. PART I Section (2)(V) Total $7,158,534
Cap Const. PART I Section (2)(W) Total $4,206,565
Department Section of LB Total $1,809,654
Total $1,394,623,617
Page 8
May 1, 2024 HB 24-1466
Other Budget Impacts
General Fund reserve. Under current law, an amount equal to 15 percent of General Fund
appropriations must be set aside in the General Fund statutory reserve. To ensure that this
General Fund reserve level is maintained under the bill, the bill does the following:
in the current FY 2023-24, it applies the General Fund reserve requirement to the amount of
General Fund appropriations reduced related to federal funds appropriations for personal
services; and
in FY 2024-25, it adds to the reserve requirement $56,493,543, which is the amount of
General Fund appropriations reduced related to federal funds appropriations for personal
services, less the $210,558,431 that is available to spend after refinancing existing programs.
State and Local Government Contacts
Joint Budget Committee Staff
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit the General Assembly website.