HB 24-1423

Abstract

When the funding source for an appropriation is a cash fund, the state agency receiving the appropriation annually calculates an amount equal to the recorded depreciation of capital assets acquired, repaired, improved, replaced, renovated, or constructed with the appropriated money. The state controller credits the recorded depreciation amount from the cash fund that was the source of the funding for the appropriation to a capital reserve account established by the agency in the cash fund. The act exempts the money in the wildlife cash fund from being credited to the capital reserve account. A state agency terminating a lease for private leased space must calculate the annual reduction in the cost of leased space and the general assembly must transfer to the capital construction fund an amount equal to the reduction in the cost of leased space from the fund that was the source of the funding for the lease. The act exempts the money in the wildlife cash fund from being transferred to compensate for the reduction in private leased space. On July 1, 2024, the act requires the state treasurer to transfer $1,198,224 from the capitol complex renovation fund to the wildlife cash fund and $273,204 from the capitol complex renovation fund to the division of parks and wildlife to be used by the division for the same purposes as other lottery proceeds distributions made pursuant to section 3 (1)(b)(II) of article XXVII of the state constitution. The act reduces the appropriation from the wildlife cash fund made in the annual general appropriation act for the 2024-25 state fiscal year to the department of natural resources for use by the division of parks and wildlife for the annual depreciation-lease equivalent payment by $199,068. APPROVED by Governor April 29, 2024 EFFECTIVE April 29, 2024(Note: This summary applies to this bill as enacted.)