CO HB1178

Expands the state controller's authority to allow departments and agencies to exceed appropriated amounts when a federal appropriation lapse is reasonably likely to occur while the general assembly is not in session, as determined by the Joint Budget Committee

Maintains existing authority for overexpenditures due to unforeseen circumstances arising when the legislature is not meeting in regular or special session

Requires the controller's spending restriction to be fully released when a supplemental appropriation is enacted for an overexpenditure

Terminates the department, institution, or agency's overexpenditure authority once a supplemental appropriation is enacted for that expenditure

Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, safety, and support of state departments and institutions