Assembly Bill 286 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 aims to ensure that this interest, which is typically credited to general purpose revenues of the general fund under current law, is properly allocated.

The bill includes a specific legal insertion that mandates the lapse of the aforementioned funds to the general fund in accordance with section 20.906 (1) of the state statutes. This legislative change is intended to clarify the handling of interest earned on the recovery funds and ensure that it is directed to the general fund, thereby enhancing the state's fiscal management in response to the coronavirus pandemic.