SB 25-311

Senate Bill 25-311, which is now law after being signed by the governor, requires the State Controller's office to transfer any unused money from inactive funds to the general fund every year on June 30. The bill also mandates that the office report annually to a committee about funds that haven't been used in at least two years and how much money has been moved into the general fund. This affects state finances by consolidating idle funds, making more money available for other uses. Since it's signed into law, this bill is now active and being implemented.

Official Summary

The act requires the office of the state controller (office) to transfer, unless otherwise provided by law, on June 30, 2025, and each June 30 thereafter, the balance of any repealed cash fund to the general fund. The act requires the office to annually submit a report to the joint budget committee that: Identifies any cash funds that have not been appropriated from in the last 2 state fiscal years and the balance of those funds; and Identifies the total amount that the office has transferred to the general fund from repealed cash funds in the preceding state fiscal year.(Note: This summary applies to this bill as enacted.)

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