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Colorado Revised Statutes Title 24. Government State § 24-33.5-706. Disaster emergency fund--established--financing--legislative intent

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) It is the intent of the general assembly and declared to be the policy of the state that funds to meet disaster emergencies shall always be available.

(2)(a) A disaster emergency fund is hereby established. The fund consists of any money appropriated by the general assembly, money transferred pursuant to subsections (2.5) and (4)(b) of this section, and money to reimburse expenditures from the fund that are transmitted to the state treasurer and credited to the fund. Money in the disaster emergency fund shall remain in the fund until expended or until transferred pursuant to subsection (2.5)(c), (4.3), (4.5), or (4.7) of this section or section 24-33.5-1228(3)(c)(III).

(b) Repealed by Laws 2013, Ch. 316, § 60, eff. Aug. 7, 2013.

(2.5) Repealed by Laws 2017, Ch. 180, § 1, eff. June 30, 2021.

(3) Repealed by Laws 2018, Ch. 234, § 11, eff. August 8, 2018.

(4)(a) It is the legislative intent that first recourse be to money regularly appropriated to state and local agencies. If the governor finds that the demands placed upon this money in coping with a particular disaster are unreasonably great, the governor may make money available from the disaster emergency fund.

(b) If money available from the disaster emergency fund is insufficient, the governor may transfer to the fund and expend money appropriated for other purposes.

(4.3) If the disaster emergency fund is credited with reimbursements of moneys previously expended to cope with a particular disaster, to the extent that all or a portion of those moneys were transferred and expended by the governor pursuant to paragraph (b) of subsection (4) of this section, the governor may transfer moneys to the funds as repayment for the amounts the governor originally transferred from said funds to the disaster emergency fund.

(4.5)(a) The governor may, from time to time as the governor deems necessary based on his or her determination that a disaster emergency is imminent, direct the state treasurer to transfer, and the state treasurer shall transfer, moneys from the disaster emergency fund to the resource mobilization fund created in section 24-33.5-705.4(6).

(b) The governor may, from time to time as the governor deems necessary based on his or her determination that a wildfire-related disaster emergency is imminent, direct the state treasurer to transfer, and the state treasurer shall transfer, moneys from the disaster emergency fund to the wildfire emergency response fund created in section 24-33.5-1226(1).

(4.7) Three days after May 17, 2022, the state treasurer shall transfer two million seven hundred thousand dollars from the disaster emergency fund to the capital construction fund created in section 24-75-302 for use by the division of fire prevention and control created in section 24-33.5-1201 for capital construction related to aviation resources for wildfire suppression.

(5) The director of the division of homeland security and emergency management is authorized to establish, pursuant to article 4 of this title 24, the rules that govern the reimbursement of funds to state agencies and political subdivisions and to promulgate such rules.

(6) Nothing in this section limits the governor's authority to apply for, administer, and expend grants, gifts, or payments in aid of disaster prevention, preparedness, response, or recovery.

(7)(a) No later than September 20, 2020, the office of state planning and budgeting shall submit a report to the joint budget committee of the expenditures from the fund during the last twelve months. Notwithstanding section 24-1-136(11)(a), no later than the twentieth day of every third month thereafter, the office shall submit a report to the joint budget committee of the expenditures from the fund since the last report. The office shall separately identify expenditures by disaster, if there is more than one to be included in the report, and, for each disaster, the office shall identify:

(I) Amounts and sources of any money transferred to the fund related to the disaster;

(II) Total encumbrances for disasters at the time of the disaster emergency declaration;

(III) State agencies that received funds and amounts received;

(IV) Total expenditures by state agency; and

(V) A breakdown of expenditures.

(b) The office of state planning and budgeting shall post the reports required by subsection (7)(a) of this section on the office's website.

(8) The state auditor shall conduct or cause to be conducted a performance audit of the fund that is completed on December 1, 2022. On or before December 1, 2024, and December 1 of every second year thereafter, the state auditor shall conduct a financial audit of the fund for the two most recently completed fiscal years as of the date of the audit report.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 24. Government State § 24-33.5-706. Disaster emergency fund--established--financing--legislative intent - last updated January 01, 2025 | https://codes.findlaw.com/co/title-24-government-state/co-rev-st-sect-24-33-5-706/

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