C.R.S.
Section 24-75-228
Economic recovery and relief cash fund
- creation
- allowable uses
- interim task force
- report
- 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.(b)
“Department” means a principal department identified in section 24-1-110 and the judicial department. The term also includes the office of the governor, including any offices created therein.(c)
“Fund” means the economic recovery and relief cash fund created in subsection (2)(a) of this section or an identical companion fund created by operation of section 24-75-226 (4)(c).(2)
Intentionally left blank —Ed.(a)
The economic recovery and relief cash fund is hereby created in the state treasury. The fund consists of money credited to the fund in accordance with subsection (3) of this section and any other money that the general assembly may appropriate or transfer to the fund. To respond to the public health emergency with respect to COVID-19 or its negative economic impacts or for the provision of government services, the general assembly may appropriate or transfer money from the fund to a department for the following uses:(I)
Assistance to small businesses;(II)
Assistance to individuals and households;(III)
Assistance to nonprofit organizations;(IV)
Public health expenditures for COVID-19 prevention and response, including expenditures for public health staff;(V)
Administrative costs associated with COVID-19 public health emergency assistance programs;(VI)
Aid to impacted industries;(VII)
Assistance to unemployed workers;(VIII)
Contributions to the unemployment compensation fund created in section 8-77-101 (1); and(IX)
Relief efforts for unmet needs, especially for communities disproportionately impacted by the COVID-19 pandemic.(b)
In addition to the uses set forth in subsection (2)(a) of this section:(I)
The general assembly may appropriate money to a department from the fund or transfer the money to another cash fund to make necessary investments in water, sewer, or broadband infrastructure.(II)
Intentionally left blank —Ed.(A)
The general assembly hereby finds and declares that many businesses in the state, large and small, and especially businesses in rural areas, sustained significant negative economic impacts as a result of the COVID-19 pandemic and it is therefore important and appropriate that any economic development efforts undertaken with money from the fund to support the state’s businesses meet the purpose of responding to the COVID-19 pandemic or its negative economic consequences as specified under the “American Rescue Plan Act of 2021”.(B)
Fifteen days after June 21, 2021, forty million dollars shall be transferred to the Colorado economic development fund created in section 24-46-105. Subject to the requirements in subsection (2)(a) of this section and section 24-75-226 (4)(b), the Colorado office of economic development shall use ten million dollars to incentivize or support businesses in rural Colorado or to undertake any other economic development activity in rural Colorado permitted in section 24-46-105 in response to the negative economic impacts of the COVID-19 pandemic. The Colorado office of economic development shall use the remaining money, subject to the requirements in subsection (4) of this section, to provide grants to businesses or to undertake any other economic development activity permitted in section 24-46-105 in response to the negative economic impacts of the COVID-19 pandemic.(III)
Money from the fund may be used for domestic violence, sexual assault, or culturally specific programs described in article 7.5 of title 26; crime victim services funded through the Colorado crime victim services fund established in section 24-33.5-505.5; and services funded through the victims and witnesses assistance and law enforcement fund described in section 24-4.2-103.(2.5)
Intentionally left blank —Ed.(a)
Upon June 2, 2022, or as soon as possible thereafter, the state treasurer shall transfer twenty million dollars from the economic recovery and relief cash fund as follows:(I)
Three million dollars to the healthy forests and vibrant communities fund created in section 23-31-313 (10), which must be expended for the purposes specified in section 23-31-313 (6)(a)(IV);(II)
Two million dollars to the wildfire mitigation capacity development fund created in section 24-33-117 (1), which must be expended for the purposes specified in section 24-33-117 (3);(III)
Ten million dollars to the Colorado water conservation board construction fund created in section 37-60-121 (1)(a), which must be expended for the purposes specified in section 37-60-121 (12);(IV)
Two million five hundred thousand dollars to the Colorado water conservation board construction fund created in section 37-60-121 (1)(a), which must be expended for the purposes specified in section 37-60-121 (13); and(V)
Two million five hundred thousand dollars to the Colorado water conservation board construction fund created in section 37-60-121 (1)(a), which must be expended for the purposes specified in section 37-60-121 (14).(b)
The watershed restoration programs, wildfire mitigation programs, and the provision of services to assist political subdivisions of the state and other entities in the draw down of federal funds to which the state treasurer shall transfer money from the fund pursuant to subsection (2.5)(a) of this section are essential government services.(c)
Any department that receives money from the transfer made by the state treasurer pursuant to subsection (2.5)(a) of this section shall comply with the compliance, reporting, record-keeping, and program evaluation requirements established by the office of state planning and budgeting and the state controller in accordance with section 24-75-226 (5).(3)
Intentionally left blank —Ed.(a)
Three days after June 21, 2021, the state treasurer shall transfer eight hundred forty-eight million seven hundred sixty-one thousand seven hundred ninety dollars from the “American Rescue Plan Act of 2021” cash fund created in section 24-75-226 to the fund.(b)
Repealed.(3.5)
Notwithstanding any other provision of this section, within three business days after May 27, 2022, the state treasurer shall transfer from the fund the following amounts that originate from money the state received from the federal coronavirus state fiscal recovery fund:(a)
Seventy million dollars to the “American Rescue Plan Act of 2021” cash fund created in section 24-75-226 (2);(b)
Ten million dollars to the revenue loss restoration cash fund created in section 24-75-227 (2)(a);(c)
Fifteen million dollars to the affordable housing and home ownership cash fund created in section 24-75-229 (3)(a); and(d)
One million four hundred thirty-seven thousand one hundred seventy-two dollars to the workers, employers, and workforce centers cash fund created in section 24-75-231 (2)(a).(3.7)
Notwithstanding any other provision of this section, within three business days after May 27, 2022, the state treasurer shall transfer ten million dollars from the fund that originates from the general fund to the revenue loss restoration cash fund created in section 24-75-227 (2)(a).(4)
A department may expend money appropriated or transferred from the 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. A department or any person who receives money from the fund shall comply with any requirements set forth in section 24-75-226.(5)
Intentionally left blank —Ed.(a)
The executive committee of the legislative council shall, by resolution, create a task force to meet during the 2021 legislative interim and issue a report with recommendations to the general assembly and the governor on policies that use money from the fund to provide a stimulative effect to the state’s economy, necessary relief for Coloradans, or that address emerging economic disparities resulting from the pandemic.(b)
The staff of the joint budget committee shall review the recommendations made by the task force to ascertain whether the recommendations will result in programs requiring ongoing appropriations of state money after the federal money has been expended and to identify whether the recommendations are duplicative of any existing state programs or appropriations, or duplicative of any existing federally funded state program.(c)
The general assembly may appropriate general fund money from the fund for the reasonable expenses of the task force.(d)
The task force may include nonlegislative members and create working groups to assist them. The executive committee of the legislative council shall specify requirements for members’ participation in the task force. The task force shall not submit bill drafts as part of their recommendations.(6)
This section is repealed, effective July 1, 2027.
Source:
Section 24-75-228 — Economic recovery and relief cash fund - creation - allowable uses - interim task force - report - legislative declaration - definitions - repeal, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-24.pdf (accessed Dec. 24, 2024).
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