81-12,244.

Appropriations and transfers of funds; legislative intent; use; restrictions.

(1) It is the intent of the Legislature to appropriate ten million dollars from the General Fund for fiscal year 2023-24 to the Department of Economic Development to carry out the Economic Recovery Act. The department may use not more than ten million dollars of such money for the administration of the Economic Recovery Act.

(2) The State Treasurer shall transfer (a) any interest earned after April 19, 2022, on federal funds allocated to the State of Nebraska from the federal Coronavirus State Fiscal Recovery Fund pursuant to the federal American Rescue Plan Act of 2021, 42 U.S.C. 802, as amended, to the Economic Recovery Contingency Fund between June 1, 2023, and June 30, 2023, and on or before June 30 each year thereafter, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services, and (b) any investment earnings from the investment of money in (i) the Perkins County Canal Project Fund pursuant to section 61-305 and (ii) the Nebraska Capital Construction Fund from transfers credited to such fund that are designated for the construction of a new state prison pursuant to section 72-1001 to the Economic Recovery Contingency Fund between June 1, 2023, and June 30, 2023, and on or before June 30 each year thereafter through June 30, 2026, on such dates and in such amounts as directed by the budget administrator of the budget division of the Department of Administrative Services.

(3) It is the intent of the Legislature that any unobligated amount as of July 1, 2024, of the federal funds allocated to the State of Nebraska from the federal Coronavirus State Fiscal Recovery Fund pursuant to the federal American Rescue Plan Act of 2021, 42 U.S.C. 802, as amended, be appropriated to the Department of Economic Development to carry out the Economic Recovery Act no later than August 1, 2024.

(4) It is the intent of the Legislature to appropriate ten million dollars from the General Fund to the Department of Economic Development for fiscal year 2022-23 to provide grants under the Economic Recovery Act.

(5) It is the intent of the Legislature to transfer ten million dollars from the General Fund to the Economic Recovery Contingency Fund for fiscal year 2023-24 and ten million dollars from the General Fund to the Economic Recovery Contingency Fund for fiscal year 2024-25 to provide grants under the Economic Recovery Act.