Senate Bill 172 Summary

• Establishes three reserve and fund pairs to manage federal COVID-19 relief funds: State Fiscal Recovery Reserve/Fund, Coronavirus Capital Projects Reserve/Fund, and Local Fiscal Recovery Reserve/Fund, all administered by the Office of State Budget and Management.

• Appropriates $6.4 billion in federal grant funds from the American Rescue Plan Act across 27 programs including higher education relief ($701.3M), child care stabilization ($805.8M), elementary and secondary school emergency relief ($3.26B), and emergency rental assistance ($556.6M).

• Allocates Emergency Rental Assistance funds to 12 specific counties and 16 regional councils of government with maximum allotments ranging from $6.1M to $49.5M, allowing up to 10% of funds for administrative costs and housing stability services.

• Distributes Local Fiscal Recovery Fund to nonentitlement units of local government within 30 days, with any excess funds returned to the U.S. Treasury per federal requirements.

• Makes technical changes including extending disaster recovery fund deadlines to June 30, 2024, revising YMCA grant program rules for remote learning and learning loss initiatives, and modifying statutory continuing resolution provisions for grant fund spending.