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

§ 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(II) Repealed.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(2.5) Repealed.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.

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.

Editor's note: (1) Amendments to this section by Senate Bill 00-065 and Senate Bill 00-067 were harmonized.

(2) Subsection (2)(a)(II)(B) provided for the repeal of subsection (2)(a)(II), effective April 1, 2013. (See L. 2012, p. 555.)

(3) Subsection (2.5)(b) provided for the repeal of subsection (2.5), effective July 1, 2021. (See L. 2020, p. 1086.)

Cross references: For the legislative declaration in SB 20-029, see section 1 of chapter 220, Session Laws of Colorado 2020. For the legislative declaration in HB 22-1259, see section 1 of chapter 348, Session Laws of Colorado 2022. For the legislative declaration in HB 24-1431, see section 1 of chapter 464, Session Laws of Colorado 2024.