CO HB1409

Transfers $20 million from the Economic Recovery and Relief Cash Fund to the Community Revitalization Grant Program fund on July 1, 2022.

Changes the definition of "eligible recipient" effective on the bill's enactment date to exclude for-profit entities, limiting grants to public entities and nonprofit organizations only.

Requires grant applicants using funds from the Economic Recovery and Relief Cash Fund for capital projects to submit written justifications per federal regulations (31 CFR 35.6(b)(4)), unless the division determines the justification is not required.

Specifies that unencumbered funds from the Economic Recovery and Relief Cash Fund transfer must revert back to that fund by December 31, 2022, rather than reverting to the general fund.

Requires division and grant recipients to comply with compliance, reporting, record-keeping, and program evaluation requirements established by the Office of State Planning and Budgeting and State Controller per Section 24-75-226(5).