SB 23-246

Senate Bill 23-246, which has been approved and is now in effect, requires the state treasurer to transfer money into a special fund called the State Emergency Reserve. Specifically, $20 million will come from the general fund, and an additional $10 million will be transferred from another fund that originally comes from the general fund. This means that by June 30, 2023, the State Emergency Reserve will have received a total of $30 million to help address unexpected emergencies or financial crises.

Official Summary

The act requires the state treasurer to make 2 transfers to the state emergency reserve cash fund (fund) on June 30, 2023. First, the state treasurer is required to transfer $20 million from the general fund to the fund. Second, the state treasurer is required to transfer $10 million from the revenue loss restoration cash fund that originates from the general fund to the fund. APPROVED by Governor April 20, 2023 EFFECTIVE April 20, 2023 (Note: This summary applies to this bill as enacted.)

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