§ 26-2-721 — Colorado long-term works reserve - creation - use

(1) There is
hereby created the Colorado long-term works reserve, referred to in this section as
the reserve, that consists of unappropriated TANF block grant money, state
general fund money appropriated thereto by the general assembly, including
amounts appropriated pursuant to subsection (5) of this section, and money
transferred thereto pursuant to sections 26-2-714 (5)(a), 26-2-716 (4)(b), 26-2-720.5 (1), and 26-2-721.3 (1). A county's excess unspent TANF reserves that are
transferred to another county pursuant to section 26-2-714 (5)(a)(I)(B) or (5)(a)(I)(C)
shall not be considered unappropriated TANF block grant moneys for purposes of
this section. Any excess unspent TANF reserves for state fiscal year 2009-10 is
excluded from the Colorado long-term works reserve and is available for transfer to
a county pursuant to section 26-2-714 (5)(a)(I)(B).

(2) The general assembly, upon request of the state department, may
appropriate the money in the reserve for the purposes of:

(a) Implementing the works program, including but not limited to:

(I) Funding the Colorado works program maintenance fund created in section
26-2-721.3; and

(II) Repealed.

(b) Transfers that are allowed under the federal law for transfers to
programs funded by Title XX of the social security act or for transfers to the child
care development fund.

(c) The stable housing for survivors of domestic or sexual violence program
created in section 26-2-726.

(2.5) Repealed.

(3) Prior to requesting any appropriations from the reserve pursuant to
subsection (2) of this section for the purpose of making transfers, the state
department shall consult with counties and provide information to the joint budget
committee for the purposes of ensuring that all transfers of TANF funds do not
exceed the federal limits for transfers and ensuring that the needs of counties to
make transfers authorized pursuant to section 26-2-714 (7) and (9) are considered.

(4) Notwithstanding section 24-1-136 (11)(a)(I), no later than August 31, 2018,
and no later than June 30 of each year thereafter, the works allocation committee
shall submit to the executive director, the governor, and the joint budget committee
recommendations for the use of the reserve for the upcoming state fiscal year. In
developing annual recommendations, the works allocation committee shall
consider the expected reserves and the Colorado works program needs over the
next three fiscal years. The state department-appointed members of the works
allocation committee are not required to vote on the works allocation committee's
annual recommendations. The county-appointed members on the works allocation
committee shall draft the annual recommendations.

(5) (a) Notwithstanding any provision of section 38-13-801, beginning state
fiscal year 2023-24, the general assembly may appropriate money from the
unclaimed property trust fund, created in section 38-13-801, to the reserve if, based
on the most recent forecast, the state is not projected to exceed the state fiscal
year spending limit imposed by section 20 of article X of the state constitution for
the state fiscal year. The amount appropriated for a state fiscal year shall not
exceed the amount necessary to cover two-thirds of the amount necessary to cover
the increase in basic cash assistance specified in section 26-2-709 (1)(b)(III)(A). The
money appropriated to the reserve under this subsection (5)(a) shall not be
appropriated for the purposes set forth in subsection (2) of this section.

(b) Notwithstanding subsection (2) of this section, the general assembly may
appropriate money from the reserve that was appropriated thereto under
subsection (5)(a) of this section to the state department for the purpose of covering
two-thirds of the amount of the increase in basic cash assistance specified in
section 26-2-709 (1)(b)(III)(A).

(c) On March 1, 2024, and March 1 of each year thereafter, the state
treasurer shall notify the joint budget committee of the amount available in the
unclaimed property trust fund that is projected to be available in the next state
fiscal year.

(d) As used in subsection (5)(a) of this section, most recent forecast means
the most recent economic and revenue forecast prepared by legislative council
staff as of the date of the introduction of a bill that appropriates money to the
department of human services pursuant to this section from the unclaimed property
trust fund created in section 38-13-801.

Legislative History

Source: L. 97: Entire part added, p. 1216, � 1, effective June 3. L. 2000: Entire section amended, p. 283, � 5, effective March 31; entire section amended, p. 429, � 2, effective April 14. L. 2001: Entire section amended, p. 981, � 6, effective August 8. L. 2002: Entire section amended, p. 281, � 2, effective July 1. L. 2004: Entire section amended, p. 369, � 2, effective July 1. L. 2008: Entire section amended, p. 1973, � 23, effective June 2. L. 2011: (1) amended, (SB 11-124), ch. 183, p. 697, � 3, effective May 19. L. 2012: (1) amended, (HB 12-1341), ch. 155, p. 555, � 4, effective April 1, 2013; (2)(a)(II)(B) added by revision, (HB 12-1341), ch. 155, p. 555, �� 4, 6. L. 2018: (4) added, (HB 18-1079), ch. 12, p. 163, � 1, effective August 8. L. 2020: (2.5) added, (SB 20-029), ch. 220, p. 1086, � 3, effective July 2. L. 2022: (1) and (3) amended and (5) added, (HB 22-1259), ch. 348, p. 2487, � 11, effective June 3. L. 2024: IP(2) amended and (2)(c) added, (HB 24-1431), ch. 464, p. 3226, � 3, effective June 6.