HCS/SCS/SB 313 - This act creates two separate funds, the Federal Budget Stabilization Fund and the Federal Stimulus Fund, within the state treasury to receive and retain funds provided under the American Recovery and Reinvestment Act of 2009. Moneys allocable to the Unemployment Compensation and Unemployment Compensation Administration Funds and the water and wastewater loan fund are specifically exempted from inclusion in the Federal Budget Stabilization Fund and the Federal Stimulus Fund. The State Treasurer is authorized to create additional funds as necessary to avoid conflict with federal law prohibiting commingling of certain funds derived from the American Recovery and Reinvestment Act of 2009, as enacted by the 111th United States Congress.
This act contains an emergency clause.
JASON ZAMKUS