The bill HB2431 appropriates $450,000 from the Records Services Fund to the Secretary of State for the fiscal year 2024-2025. This funding is designated for the implementation of the Trusted Electronic Records Repository Program and to secure additional shelving for incoming paper records. The bill also includes a provision that exempts this appropriation from lapsing, meaning the funds will not expire at the end of the fiscal year.

In contrast to current law, which does not specify this appropriation or its intended use, the new bill explicitly allocates funds for the electronic records program and addresses the need for physical storage for paper records. Additionally, the exemption from lapsing provisions is a new feature that ensures the allocated funds remain available for their intended purpose without the risk of being returned to the general fund at the end of the fiscal year.