Bill Summary for S 805 (2019-2020)

Summary date: 

Jun 10 2020

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 805 (Public) Filed Tuesday, May 19, 2020
Intro. by Brown, Harrington, B. Jackson.

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Bill summary

Senate committee substitute deletes the content of the 1st edition and instead provides the following.

States legislative findings regarding allowable expenditures under the federal CARES Act.

Directs the State Controller to transfer $645.4 million from the Coronavirus Relief Reserve to the Coronavirus Relief Fund (both established in SL 2020-4). Appropriates the transferred funds to the Office of State Budget and Management (OSBM) on a nonrecurring basis for 2020-21 to offset General Fund appropriations across State government for allowable expenditures from the Coronavirus Relief Fund. 

Creates a Statewide Reserve for Appropriations (Reserve) in the General Fund with a negative beginning appropriation balance of $645.4 million. Requires the Reserve to have a $0 balance by December 30, 2020.

Prohibits appropriated funds from being used to increase total State agency or department requirements. Directs OSBM to reduce the net General Fund appropriation in the State agency or department as allowable expenditures are identified, and transfer that appropriation to the Reserve. 

Makes the general provisions set out in Part I of SL 2020-4 applicable to the appropriated funds and requires OSBM to include the funds transferred and appropriated in the report required under Section 1.7 of SL 2020-4.

Effective July 1, 2020.

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