ARPA-DFA-Office of Insurance Lost Revenue Fund

There is created in the State Treasury a special fund to be designated as the “ARPA-DFA-Office of Insurance Lost Revenue Fund,” which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Department of Finance and Administration for eligible expenses of the State and School Employees’ Life and Health Insurance Plan. The Department of Finance and Administration may escalate its budget upon receiving Coronavirus State Fiscal Recovery Lost Revenue Funds and expend such funds in accordance with rules and regulations of the Department of Finance and Administration in a manner consistent with the escalation of federal funds.