This amendment changes Section 317 from deappropriating funds from the Business Ready Community Account to reappropriating them to the Office of State Lands and Investments for county consensus grants distributed by population and inverse assessed valuation factors.
- Changes the section title from 'DEAPPROPRIATION' to 'REAPPROPRIATION' and adds subtitle 'FUNDS DIRECTED TO COUNTY CONSENSUS GRANTS'. (Page 125, lines 13-3)
- Replaces the deappropriation mechanism with a reappropriation to the Office of State Lands and Investments, establishing a formula-based distribution system for grants to counties based on: (1) 80% allocated proportionally by each county's share of state population, plus (2) 20% allocated by each county's inverse per capita assessed valuation factor, calculated using tax year 2025 assessed valuations. (Page 125, lines 21-40)
- Establishes that distributed funds cannot be used until after July 1, 2026, must be expended only for capital projects and major maintenance of public facilities and infrastructure (including special district projects), and require certification of agreement by county commissioners and at least 50% of incorporated municipalities in each county. (Page 1-2, lines 5-14)
- Specifies that population estimates shall be determined from the most recently completed federal census population estimates as reported by the Economic Analysis Division within the Department of Administration. (Page 2, lines 16-20)
- Establishes reversion date of June 30, 2028 for unexpended funds, but allows excess grant amounts not needed for originally approved projects to be reallocated to other county-consensus-approved projects or held by the county treasurer for future authorized use, and allows funds for future projects not formally encumbered by June 30, 2028 to be retained. (Page 2, lines 22-40)
- Renumbers subsequent subsection references from '(c)' to '(g)' to accommodate new subsections added by the amendment. (Page 2, line 42)
AI-generated summary · Verify against the amendment text (PDF) · Notice a problem? Let us know
