C.R.S.
Section 24-75-226
“American Rescue Plan Act of 2021” cash fund
- creation
- recipient funds
- limitations
- reporting
- legislative declaration
- definitions
- repeal
(1)
As used in this section, unless the context otherwise requires:(a)
“American Rescue Plan Act of 2021” means the federal “American Rescue Plan Act of 2021”, Pub.L. 117-2, as the act may be subsequently amended.(a.5)
“Coronavirus state fiscal recovery fund” means the federal fund created in 42 U.S.C. sec. 802, or any successor fund.(b)
“Fund” means the “American Rescue Plan Act of 2021” cash fund created in subsection (2) of this section.(c)
“Office” means the office of state planning and budgeting created in section 24-37-102.(d)
“Recipient fund” means a cash fund that includes any money that at one time was in the “American Rescue Plan Act of 2021” cash fund created in subsection (2) of this section.(e)
“Secretary” means the secretary of the treasury of the United States.(f)
“Subrecipient” means a person that receives money from the fund or a recipient fund to carry out a program or project on behalf of the state but that is not a beneficiary of the services or benefits provided through the program or project.(2)
The “American Rescue Plan Act of 2021” cash fund is hereby created in the state treasury. The fund consists of money credited to the fund pursuant to subsection (3) of this section.(3)
Intentionally left blank —Ed.(a)
From 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”, the state treasurer shall transfer three billion four hundred forty-eight million seven hundred sixty-one thousand seven hundred ninety dollars, and any interest and income earned thereon, to the fund on June 11, 2021.(b)
The state treasurer shall deposit in the fund any money that a local government receives from the federal coronavirus local fiscal recovery fund and transfers to the state under section 9901 of title IX, subtitle M of the “American Rescue Plan Act of 2021”.(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).(d)
The fund also includes the amount transferred to the fund in accordance with section 24-75-228 (3.5)(a).(4)
Intentionally left blank —Ed.(a)
The general assembly shall not appropriate money from the fund. The general assembly may transfer money in the fund to another cash fund that is established for the purpose of using the money from the federal coronavirus state fiscal recovery fund. Transfers from the fund to the general fund are prohibited. If there is any of the money transferred to the fund under subsection (3)(a) of this section remaining in the fund after any transfers from the fund required by bills enacted during the 2021 regular legislative session, then, of the remainder in the fund, the lesser of three hundred million dollars or the remainder is continuously appropriated to any department designated by the governor for any allowable purpose under the “American Rescue Plan Act of 2021”. The money specified in subsection (3)(d) of this section is continuously appropriated to any department designated by the governor for any expenditures necessary to respond to the public health emergency with respect to COVID-19.(b)
A department may expend money appropriated from the fund or a recipient fund for purposes permitted under the “American Rescue Plan Act of 2021” and shall not use the money for any purpose prohibited by the act.(c)
Intentionally left blank —Ed.(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)
Notwithstanding 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).(d)
Intentionally left blank —Ed.(I)
Money in the fund or a recipient fund must be expended or obligated by December 31, 2024. Just prior to the close of business on December 30, 2024, any unexpended appropriations from a recipient fund that are not for expenditures to be made after December 31, 2024, that were obligated before that date, revert to the “American Rescue Plan Act of 2021” cash fund, and the state treasurer shall transfer the unexpended and unobligated balance in the fund to the unemployment compensation fund created in section 8-77-101 (1). Any money obligated by December 31, 2024, must be expended by December 31, 2026. Effective December 31, 2026, the state controller shall transmit any unexpended money in the fund or a recipient fund to the United States department of the treasury.(II)
A subrecipient must spend or obligate money received from the fund or a recipient fund by November 30, 2024, and, by December 13, 2024, shall notify the state agency from which the subrecipient received the money of the status of the money that is obligated or expended. The subrecipient shall return to the state any unexpended and unobligated money under terms dictated by the state controller, and the state treasurer shall transfer the amount returned to the unemployment compensation fund created in section 8-77-101 (1). Any money obligated by November 30, 2024, must be expended by December 11, 2026. On or before December 11, 2026, the subrecipient shall return to the state any remaining money under terms dictated by the state controller and thereafter the state controller shall transmit the money to the United States department of the treasury in accordance with the treasury’s requirements.(III)
The state controller shall determine whether money is obligated for purposes of determining the deadline for expenditures and the reversion or repayment of money in accordance with this subsection (4)(d).(II)
The general assembly hereby finds and declares that:(A)
Under 42 U.S.C. sec. 802 (c)(1)(C), the state is permitted to use money received from the coronavirus state fiscal recovery fund for the provision of government services 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;(B)
The United States department of the treasury has promulgated a rule to establish the methodology for the state to calculate a recipient government’s annual reduction in revenue for the four calendar years beginning in 2020;(C)
As of May 27, 2022, the state reported a reduction for the 2020 and 2021 calendar years that totals three billion six hundred ninety-four million six hundred fifty-three thousand two hundred forty-nine dollars;(D)
This amount exceeds the total of all the funds that have yet to be reported to the United States department of the treasury; and(E)
Therefore, any money in the fund or transferred from the fund to a recipient fund is available to be reported as being an expenditure for the provision of government services.(III)
The state controller may report the expenditure of any money in or transferred from the“American Rescue Plan Act of 2021” that originated from the coronavirus state fiscal recovery fund 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, if the description is applicable, regardless of whether the purpose of the expenditure is also described as being to respond to the public health emergency with respect to COVID-19 or its negative economic impacts.(b)
The office and the state controller shall establish compliance requirements for any department that receives an appropriation from the fund or a recipient fund or any person that receives money from a department. If a department or person fails to comply with these requirements, then:(I)
A department shall, with approval by the office and state controller, identify the best method and fund source to be used to repay the fund or a recipient fund for the money expended on noncompliant functions, and, to the extent feasible, repay the fund or recipient fund;(II)
A person shall, to the extent possible, repay any money received by the state from the fund or recipient fund that is related to the noncompliance; and(III)
The state controller may, in his or her discretion, reduce or eliminate all unexpended appropriations from the fund or a recipient fund for the department.(c)
The office and the state controller shall establish reporting and record-keeping requirements for any department that expends money from the fund or a recipient fund or any person that receives the money from a department. To expend money from the fund or recipient fund, a department and the person must comply with these requirements.(d)
The office shall provide guidance on program evaluation, including exemptions from evaluation, evaluation criteria, implementation guidance, and selection of independent evaluators. To expend money from the fund or a recipient fund, a department or person that receives money from a department must comply with any program evaluation requirements established by the office.(e)
The office shall provide the joint budget committee with a yearly performance report that consists of the information that the state controller provides the secretary under subsection (5)(a) of this section and any other information, including program evaluation information, that the office determines to be relevant. Money in the fund or a recipient fund is not subject to the reporting requirements set forth in section 24-33.5-717.(f)
The general assembly may appropriate money from the revenue loss restoration cash fund created in section 24-75-227 to the department of personnel for use by the state controller and to the office for any direct or indirect expenses related to the administration of this subsection (5).(g)
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.(6)
Money transferred to the state highway fund and the multimodal transportation and mitigation options fund in accordance with section 24-75-219 (7), to the workers, employers, and workforce centers cash fund in accordance with section 24-75-231 (2)(b)(III), and to the revenue loss restoration cash fund in accordance with section 24-75-227 (2)(b)(III)(A) are subject to the requirements of this section as if they were recipient funds.(7)
This section is repealed, effective July 1, 2027.
Source:
Section 24-75-226 — "American Rescue Plan Act of 2021" cash fund - creation - recipient funds - limitations - reporting - legislative declaration - definitions - repeal, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-24.pdf (accessed Oct. 20, 2023).
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