HB 22-1340 Summary

• Modifies the Revenue Loss Restoration Cash Fund to allow the General Assembly to appropriate money for government services including K-12 education, housing, state employees, asset maintenance, seniors, criminal justice, state parks, agriculture, and transportation infrastructure.

• Exempts the 2022-23 fiscal year from spending limits on the Revenue Loss Restoration Cash Fund for capital construction, capital renewal, and controlled maintenance projects.

• Transfers $350,394,004 from the General Fund to the Affordable Housing and Home Ownership Cash Fund on July 1, 2022, with that same amount then transferring to the Revenue Loss Restoration Cash Fund.

• Adds capital construction transfers totaling $4,639,443 to the Capital Construction Fund and $106,661,877 to the Information Technology Capital Account, both effective July 1, 2022.

• Transfers $110 million from the General Fund to the Controlled Maintenance Trust Fund on July 1, 2021, to be appropriated in the 2022-23 fiscal year for prioritized controlled maintenance projects.