SF0001S3044

This amendment replaces previous amendments regarding the Business Ready Community Account by deleting them and instead establishing a new reappropriation of reverted business ready community funds to the Office of State Lands and Investments for county consensus grants with specific allocation formulas and conditions.

• Deletes the fourth Driskill third reading amendment (SF0001S3029/A) and the second Love third reading amendment (SF0001S3030/A) that were previously made to Section 317 regarding the Business Ready Community Account deappropriation. (Page 125, lines 1-6)
• Inserts a new Section 328 that reappropriates all unexpended, unobligated funds from the business ready community account to the Office of State Lands and Investments for county grants, rather than allowing them to revert to the general fund. Funds are allocated to each county using an 80/20 formula: 80% based on population distribution and 20% based on each county's inverse per capita assessed valuation factor calculated from 2025 tax year data. (Page 141, lines 8-15 and Page 1-2 of inserted section)All unexpended, unobligated funds in business ready community account General Fund (initially reverted, then reappropriated)
• Establishes conditions for fund distribution requiring board of county commissioners and at least 50% of incorporated municipalities within each county to certify agreement on approved projects before funds are distributed after July 1, 2026. Limits expenditures to capital projects and major maintenance and repair of existing public facilities and infrastructure. (Pages 1-2 of inserted section, subsections (c)-(d))
• Provides that unexpended funds revert on June 30, 2028, but allows excess amounts from completed projects to be applied to other agreed-upon projects or held by the county treasurer for future authorized use without reversion if not formally encumbered during the appropriation period. (Pages 2-3 of inserted section, subsections (e)-(f))

AI-generated summary · Verify against the amendment text (PDF) · Notice a problem? Let us know