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Committee discusses House Bill 24-38 to establish emergency reserve; author to offer house substitute next session

House Committee on Waste and Means · August 18, 2025

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Summary

House Bill 24-38 would create a dedicated emergency reserve (rainy day) fund with mandatory deposits and disbursement procedures; the author said the effective date may be delayed to the next fiscal year and the committee agreed a house substitute will be offered at the next House call to address reporting-period language.

House Bill 24-38, introduced Aug. 19 before the House Committee on Waste and Means, would create a dedicated emergency reserve (rainy day) fund with annual mandatory deposits and procedures for disbursement in declared emergencies while ensuring fiscal accountability.

The bill's author (the vice speaker) described the measure as "pretty much straightforward" and signaled possible amendments, including a delayed effective date so the provision would not affect the current fiscal year. Chairman Sablan raised a specific concern about inconsistent reporting periods in the bill text — 180 days after the end of an emergency declaration versus 60 days before the end of the fiscal year — and urged more uniform language.

Committee members discussed procedure and legal implications of adopting amendments now versus offering a substitute; after a brief recess the committee decided the author will offer a house substitute on the next House call and the matter will be returned for action then.

Next steps: Author to file a house substitute addressing concerns (including reporting-period uniformity) at the next House session; committee will revisit the bill then.