HB 14-1339 Summary

• Creates the Hazardous Substance Site Response Fund in the state treasury to receive moneys transferred from the general fund pursuant to state education fund surplus allocations.

• Transfers $10 million from the general fund to the new hazardous substance site response fund on September 15, 2014, as part of the fiscal year 2013-14 surplus allocation.

• Allows the general assembly to appropriate moneys from the fund to the department for purposes specified in Section 25-16-104 (hazardous substance site response activities).

• Permits uninvested fund moneys to be invested by the state treasurer, with all interest and income credited back to the fund; unexpended moneys remain in the fund and cannot be transferred to the general fund or other funds.

• Amends existing law to authorize state matching moneys for hazardous substance response activities to be appropriated from either the hazardous substance response fund or the new hazardous substance site response fund.