SB 17-261

Senate Bill 17-261, which has been signed into law, sets up a special fund called the "2013 Flood Recovery Account" to help with costs related to the floods that hit Colorado in 2013. The state will put $12.5 million into this account on July 1, 2017, and any leftover money will go back to the general fund by June 30, 2021. This fund can only be used by the governor for expenses related to flood recovery efforts.

Official Summary

Joint Budget Committee. The bill creates the 2013 flood recovery account in the disaster emergency fund. On July 1, 2017, the state treasurer is required to transfer $12.5 million from the general fund to the account. The account consists of money from this transfer and any money that the general assembly appropriates to the account in the future. Money in the account is only available for the governor to use for the costs associated with the response and recovery from the flood that occurred in the state in 2013. The account is repealed on June 30, 2021, at which time the state treasurer will transfer any remaining balance back to the general fund.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes