HB 22-1411

  • Colorado House Bill
  • 2022 Regular Session
  • Introduced in House May 03, 2022
  • Passed House May 03, 2022
  • Passed Senate May 11, 2022
  • Signed by Governor May 27, 2022

Money From Coronavirus State Fiscal Recovery Fund

Abstract

In 2021, the state received $3,828,761,790 from the federal coronavirus state fiscal recovery fund as part of the federal "American Rescue Plan Act of 2021". For purposes of complying with the requirements established by the United States department of the treasury (treasury), the general assembly established administrative requirements related to the expenditure of this federal money. Section 1 of the bill modifies these requirements by: Establishing deadlines for a subrecipient, which is a person that carries out a program or project on behalf of the state, to expend or obligate this money, and if not, to return this money to the state for the state to either expend or return to treasury, depending on the timing; Requiring the state controller to transmit to treasury any money that was obligated by December 31, 2024, but not expended by December 31, 2026; Requiring the department of revenue to provide the state controller with any information about any increases in the state's net tax revenue, which is necessary for calculating the state's revenue reductions for 2022 and 2023; Clarifying that the compliance, reporting, record-keeping, and program evaluation requirements established by the office of state planning and budgeting and the state controller apply to a person regardless of whether the person is a beneficiary or a subrecipient and regardless of whether the person receives the money directly from a department or from a subrecipient; and Permitting the state controller to report any expenditures to treasury as a government service to the extent of the reduction in the state's revenue due to the COVID-19 public health emergency relative to the revenues the state collected for the state fiscal year 2018-19. Sections 3 through 6 make conforming amendments related to this change. The bill also substitutes money from the general fund or from a cash fund that included money that originated from the general fund for money that was allocated in 2021 legislation from the federal coronavirus state fiscal recovery fund, as follows: $29.5 million from the housing development grant fund ( section 7 ); $36.5 million from the highway users tax fund that was distributed to counties, cities, and incorporated towns, which is accomplished by replenishing and reclassifying the federal funds that were initially used ( section 8 ); $10 million from the Colorado startup loan program fund ( section 9 ), with the freed up federal funds being transferred to the revenue loss restoration cash fund ( section 6 ); and $98.5 million from the affordable housing and home ownership cash fund ( section 10 ). Sections 2 and 6 include conforming amendments related to the reclassification of the money paid to the counties, cities, and incorporated towns.(Note: This summary applies to this bill as introduced.)

Bill Sponsors (3)

Votes


Actions


May 27, 2022

Office of the Governor

Governor Signed

May 20, 2022

Office of the Governor

Sent to the Governor

Senate

Signed by the President of the Senate

House

Signed by the Speaker of the House

May 11, 2022

House

House Considered Senate Amendments - Result was to Concur - Repass

Senate

Senate Third Reading Passed with Amendments - Floor

May 10, 2022

Senate

Senate Second Reading Passed with Amendments - Committee, Floor

May 09, 2022

Senate

Senate Second Reading Special Order - Laid Over Daily - No Amendments

Senate

Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

  • Committee-Passage
  • Referral-Committee
Senate Committee of the Whole Appropriations

May 03, 2022

Senate

Introduced In Senate - Assigned to Appropriations

  • Introduction
Appropriations

House

House Third Reading Passed - No Amendments

May 02, 2022

House

House Second Reading Special Order - Passed with Amendments - Committee

House

House Committee on Appropriations Refer Amended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Appropriations

Apr 27, 2022

House

Introduced In House - Assigned to Appropriations

  • Introduction
Appropriations

Bill Text

Bill Text Versions Format
Signed Act (05/27/2022) PDF
Final Act (05/20/2022) PDF
Rerevised (05/11/2022) PDF
Revised (05/10/2022) PDF
Reengrossed (05/03/2022) PDF
Engrossed (05/02/2022) PDF
Introduced (04/27/2022) PDF
PA2 (05/09/2022) PDF
PA1 (05/02/2022) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note SA1 (05/02/2022) PDF
Fiscal Note FN1 (04/29/2022) PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.