HB 20-1417 Summary

• Creates the Care Subfund in the General Fund with $70 million in federal Coronavirus Relief Fund money transferred per Governor's Executive Order D 2020 070, subject to appropriation by the General Assembly for allowable expenditures under 42 U.S.C. 801(d).

• Requires state departments receiving Care Subfund appropriations to comply with reporting and record-keeping requirements established by the State Controller or Office of State Planning and Budgeting.

• Mandates that any unexpended appropriations from the Care Subfund revert to the subfund, and the State Treasurer must transfer the final subfund balance to the Unemployment Compensation Fund just prior to close of business on December 30, 2020.

• Establishes legislative findings that COVID-19 caused historic unemployment increases and an estimated $2 billion deficit in the Unemployment Compensation Fund by end of fiscal year 2020-21, which will not be reimbursed by the federal government.

• Exempts Care Subfund expenditures from the calculation of state appropriation restrictions and repeals this exemption effective July 1, 2021.