HCS SCS SB 313 -- FEDERAL ECONOMIC STIMULUS FUNDS

This bill creates two separate funds in the state treasury to
receive moneys provided under the American Recovery and
Reinvestment Act of 2009, commonly known as the federal economic
stimulus act.  The Federal Budget Stabilization Fund will consist
of moneys received from the federal act which are intended to
assist with state budget stabilization, and the Federal Stimulus
Fund will consist of all other moneys received under the act that
are not otherwise allocable to the Federal Budget Stabilization
Fund.  Moneys received relating to unemployment compensation and
the federal Safe Drinking Water Program are excluded from the
depository requirements.

The State Treasurer is authorized to create new funds as
necessary to avoid any conflict with federal law which prohibits
the commingling of certain federal funds.

The bill contains an emergency clause.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am