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 Oct. 20, 2023).

24‑75‑101
Deficiency in revenue
24‑75‑102
When appropriations expended - balance
24‑75‑103
Exceptions to transfer of balances
24‑75‑104
Gifts and bequests to state institutions of higher education - effect
24‑75‑105
Transfers required to implement conditional and centralized appropriations - repeal
24‑75‑106
Transfers between departments of health care policy and financing and human services for materially similar items of appropriation for medicaid programs - limitation - repeal
24‑75‑106.5
Transfers between departments of health care policy and financing and human services for corresponding items of appropriation - limitations - repeal
24‑75‑107
Cash fund transfers pursuant to sections 24-75-105 and 24-75-106 - repeal
24‑75‑108
Intradepartmental transfers between appropriations - repeal
24‑75‑109
Controller may allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted - repeal
24‑75‑110
Limitation on judicial department - repeal
24‑75‑111
Additional authority for controller to allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted
24‑75‑111.5
Additional authority for controller to allow expenditures for capital construction items in certain circumstances - definition
24‑75‑112
Annual general appropriation act - headnote definitions - general provisions - footnotes
24‑75‑112.5
Appropriation clauses - general provisions - legislative declaration - definition
24‑75‑113
2010 bills to increase state revenue - prohibition on hiring of new state employees
24‑75‑114
Appropriations for utilities - roll-forward spending authority - definition
24‑75‑115
Use of state funds - marketing featuring elected officials - prohibition
24‑75‑201
General fund - general fund surplus - custodial money
24‑75‑201.1
Restriction on state appropriations - legislative declaration - definitions
24‑75‑201.2
Restriction on state spending - unrestricted general fund year-end balances
24‑75‑201.3
Procedures relating to revenue estimates
24‑75‑201.5
Revenue shortfalls - required actions by the governor with respect to the reserve
24‑75‑201.7
Enforcement of state spending restriction - punitive or exemplary damages - property tax relief fund - creation
24‑75‑202
Imprest cash accounts
24‑75‑203
Loans and advances
24‑75‑204
Reports
24‑75‑205
Insurance and retirement reserves
24‑75‑206
Legislative declaration
24‑75‑207
Definitions
24‑75‑208
Investment of treasury funds
24‑75‑209
Payment of general fund warrants or checks
24‑75‑210
Reports to governor
24‑75‑219
Transfers - transportation - capital construction - definitions - repeal
24‑75‑220
State education fund - transfers - surplus - legislative declaration
24‑75‑225
Care subfund - creation - administration - transfer - legislative declaration
24‑75‑226
“American Rescue Plan Act of 2021” cash fund - creation - recipient funds - limitations - reporting - legislative declaration - definitions - repeal
24‑75‑227
Revenue loss restoration cash fund - creation - allowable uses - definitions - repeal
24‑75‑228
Economic recovery and relief cash fund - creation - allowable uses - interim task force - report - legislative declaration - definitions - repeal
24‑75‑229
Affordable housing and home ownership cash fund - creation - allowable uses - task force - legislative declaration - definitions - repeal
24‑75‑230
Behavioral and mental health cash fund - creation - allowable uses - task force - definitions - repeal
24‑75‑231
Workers, employers, and workforce centers cash fund - creation - allowable uses - definitions - repeal
24‑75‑232
“Infrastructure Investment and Jobs Act” cash fund - creation - allowable uses - report - legislative declaration - definitions - repeal
24‑75‑301
Definitions
24‑75‑302
Capital construction fund - capital assessment fees - calculation - information technology capital account
24‑75‑302.5
Controlled maintenance - trust fund - legislative declaration
24‑75‑303
Appropriation for capital construction
24‑75‑304
Legislative declaration
24‑75‑305
Transfers from capital construction fund
24‑75‑307
Capitol complex master plan implementation fund - creation - transfers for fund
24‑75‑401
Cash funds abolished
24‑75‑402
Cash funds - limit on uncommitted reserves - reduction in the amount of fees - exclusions - definitions
24‑75‑403
Capital reserve - creation - annual appropriation - definitions
24‑75‑601
Definitions
24‑75‑601.1
Legal investments of public funds - definition
24‑75‑601.2
Prior investments valid
24‑75‑601.3
Remedial actions - investments not made in conformance with statute
24‑75‑601.4
Liability of officials of public entities
24‑75‑601.5
Liability for sale of unlawful investments to public entities
24‑75‑602
Bonds of housing authority as legal investments
24‑75‑603
Depositories
24‑75‑604
Investments in bonds issued by member institutions of the farm credit system
24‑75‑605
Legal investments - cities of twenty-five thousand or more population - limitation in class of investments
24‑75‑701
Definitions
24‑75‑702
Local governments - authority to pool surplus funds
24‑75‑703
Local government investment pooling - trust method - resolution - filing requirements
24‑75‑704
Investments - limitations
24‑75‑705
Board of trustees - duties - liabilities
24‑75‑706
Custodian - location - unlawful activities
24‑75‑707
Investment adviser - duties - unlawful activities
24‑75‑708
Administrator - duties - unlawful activities
24‑75‑709
Administration and enforcement
24‑75‑901
Short title
24‑75‑902
Legislative declaration
24‑75‑903
Definitions
24‑75‑904
Computations
24‑75‑905
Authority to issue and sell notes
24‑75‑906
Limitation on amount of notes
24‑75‑907
Form and terms of notes
24‑75‑908
Execution of notes
24‑75‑909
Manner of sale of notes
24‑75‑910
Investment or deposit of proceeds - income therefrom
24‑75‑911
No debt created
24‑75‑912
Notes as legal investments and eligible collateral
24‑75‑913
Construction with other statutes
24‑75‑914
State auditor - report
24‑75‑915
Saving clause
24‑75‑1001
Higher education fund
24‑75‑1101
Legislative declaration
24‑75‑1102
Definitions
24‑75‑1103
Policy on use of tobacco settlement funds
24‑75‑1104.5
Use of settlement money - programs - repeal
24‑75‑1107
Loss of disputed payments - authorization for transfers to tobacco litigation settlement cash fund
24‑75‑1301
Definitions
24‑75‑1302
State agencies - information obtained with grants
24‑75‑1303
Report to general assembly
24‑75‑1305
Programs or services reliant on grants - statutory reauthorization of program
24‑75‑1401
Indirect costs excess recovery fund - creation - departmental accounts - use of fund - definitions - repeal
Green check means up to date. Up to date

Current through Fall 2024

§ 24-75-228’s source at colorado​.gov