Senate Bill 280 proposes to lapse $172,000,000 to the general fund from a federal program revenue appropriation to the Department of Administration upon the bill's enactment. This action follows a report from the secretary of administration indicating that, as of the end of April 2025, the total interest earned on advanced coronavirus state and local fiscal recovery funds amounted to $171,487,101.82. The bill emphasizes that, under current law, unless otherwise specified, miscellaneous receipts collected by state agencies, including interest earnings, are required to be credited to the general purpose revenues of the general fund.

The bill includes a specific provision that allows for the lapse of the aforementioned funds, aligning with the existing legal framework under section 20.906 (1) and section 20.505 (1) (mb). This legislative action aims to ensure that the interest earned from the coronavirus recovery funds is appropriately allocated to the state's general fund, thereby enhancing fiscal management and resource availability for state operations.