Idaho Code 67-3535 – American Rescue Plan Cost Recovery Fund
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 67-3535
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
There is hereby created in the state treasury the American rescue plan cost recovery fund. The fund shall be used to account for state costs allowable for reimbursement pursuant to the federal American rescue plan act of 2021, P.L. 117-2. After review of allowable costs, the division of financial management shall request the state controller to transfer an amount not to exceed the allowable costs from the American rescue plan fund established in section 67-3534, Idaho Code, to the American rescue plan cost recovery fund. Moneys in the fund can be expended only after legislative appropriation. Except as prohibited by law, the office of the state treasurer shall invest idle moneys, and the fund shall retain its interest.