MS SB2895

Transfers available and unexpended ARPA Coronavirus State Fiscal Recovery Funds on or after September 30, 2026 to the Coronavirus State Fiscal Recovery Fund, with subsequent transfers of up to $162,958,012 to the Lost Revenue Fund, $100,000,000 to the ARPA-MDOT Project Lost Revenue Fund, and $62,958,012 to the ARPA-DFA-Office of Insurance Lost Revenue Fund

Creates two new special treasury funds: the ARPA-MDOT Project Lost Revenue Fund for eligible surface transportation projects and the ARPA-DFA-Office of Insurance Lost Revenue Fund for State and School Employees' Life and Health Insurance Plan expenses

Requires agencies administering ARPA grant programs to notify the Department of Finance and Administration when subgrantees miss two consecutive monthly reports or fail to submit reimbursement requests for two consecutive periods, triggering transfer of those funds

Authorizes the State Fiscal Officer to classify and transfer remaining Coronavirus State Fiscal Recovery Fund balances at the Governor's direction to fully expend all funds by December 31, 2026, with exemption from Public Procurement Review Board approval requirements

Changes grant fund availability deadlines from December 31, 2026 to September 30, 2026 for multiple programs including workforce development, nursing retention, independent schools infrastructure, and water infrastructure grants