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JBC introduces ARPA adjustment bill to tidy prior 'swap' and capture one-time funds
Summary
The Joint Budget Committee introduced LLS 480 to formalize ARPA-related reclassifications, reversions and supplemental adjustments; staff said the bill captures $33.5 million in one-time general funds for FY24-25 and is structured to be net-zero across several fund-source swaps. The committee voted 6-0 to introduce the bill.
The Joint Budget Committee on the record introduced a bill (LLS 480) that staff described as a technical package to reconcile prior American Rescue Plan Act (ARPA) appropriations, capture reversions and recaptures, and correct fund-source classifications. Committee analyst Ms. Bickel said the measure bundles three types of adjustments: fund-source swaps (federal vs. general fund), recaptures/reversions of unspent ARPA dollars, and reductions to…
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