Adopted

COMMITTEE AMENDMENT NO 1 PROPOSED TO

House Bill No. 1127

BY: Committee

AMEND by deleting Section 27 in its entirety and inserting in lieu thereof the following:

     SECTION *.  Section 4 of Chapter 509, Laws of 2024, is amended as follows:

     Section 4.  (1)  The Legislature, based upon current United States Treasury guidance, has determined that all Coronavirus State Fiscal Recovery Funds must be obligated by December 31, 2024, and expended by December 31, 2026.

     (2)  (a)  In order to meet the obligation deadline set forth by the United States Treasury, the State Fiscal Officer shall determine the amount of Coronavirus State Fiscal Recovery Funds appropriated to various agencies that will not be obligated as of October 1, 2024.

          (b)  In making the determination required by this section, the State Fiscal Officer shall use the guidance released by the United States Treasury to determine if the Coronavirus State Fiscal Recovery Funds are not obligated.

     (3)  If at any time during the period from passage of this act to October 1, 2024, a state agency determines that Coronavirus State Fiscal Recovery Funds will not be obligated by October 1, 2024, the state agency shall notify the State Fiscal Officer.

     (4)  If at any time the State Fiscal Officer determines that funds will be unobligated as of October 1, 2024, under subsection (2) or (3) of this section, the State Treasurer, in coordination with the State Fiscal Officer, shall transfer these funds to the Coronavirus State Fiscal Recovery Fund (Fund No. 682111300) by no later than October 5, 2024.  The State Fiscal Officer may retain an amount not to exceed the lesser of the estimated cost of ARPA administration or Twenty-five Million Dollars ($25,000,000.00) in the Coronavirus State Fiscal Recovery Fund to be utilized for administrative and reporting costs.  No later than October 6, 2024, the State Treasurer, in conjunction with the State Fiscal Officer, shall transfer the funds to the ARPA-MDOT Maintenance Project Fund.

(5)  If at any time the State Fiscal Officer determines that funds are deobligated after October 5, 2024, the State Fiscal Officer, in conjunction with the State Treasurer, shall transfer the deobligated funds to the ARPA – MDOT Maintenance Project Fund.

     FURTHER, AMEND the title to conform.