Budgetary Modifications

Added a coordination clause stating that if H.B. 473 also passes, the repeal of the Colorado River Authority Restricted Account and specific appropriations in this bill will not take effect.

Changed the Industrial Assistance Account administration to require the GOEO board to make recommendations regarding loan applications instead of the previous directive.

Renumbered and reorganized the definitions section for the LeRay McAllister Working Farm and Ranch Fund to improve clarity.

Clarified that the state auditor has explicit authority to audit grant funds and expenses related to personnel.

Adjusted the description of fund transfers for the Colorado River Authority Restricted Account in the FY 2027 appropriations section.

Created the Energy Development Infrastructure Fund to provide loans to public entities for nuclear power generation and transmission projects.

Changed the Electrical Energy Development Investment Fund from an expendable special revenue fund to a special revenue fund and made its appropriations nonlapsing.

Repealed the Navajo Water Rights Negotiation Account, Conversion to Alternative Fuel Grant Program Fund, Wildlife Resources Conservation Easement Account, Wild Game Meat Donation Fund, and Colorado River Authority Restricted Account.

Renamed the Agriculture Conservation Easement Account and the LeRay McAllister Working Farm and Ranch Fund.

Prohibited administering agencies from using direct award grant funds to cover administrative costs unless explicitly allowed in the appropriation's intent language.

Required competitive grant recipients to disclose all other state funding they receive during the application process.

Allowed agencies to expend up to 100% of excess dedicated credits revenue if the credits represent over 90% of the line item budget or are appropriated to specific fund types.

Modified the Industrial Assistance Account to replace annual transfers with annual set-asides and require the GOEO board to recommend loan applications.

Added a requirement that the state engineer verify critical watershed projects before the Land Conservation Board releases funds.

Disqualified Board of Examiners members from reviewing overexpenditure reports if the overexpended line item belongs to their own office's budget.

Renamed the 'Agriculture Conservation Easement Account' and the 'LeRay McAllister Working Farm and Ranch Fund' to reflect updated terminology.

Repealed five specific accounts and funds, including the Navajo Water Rights Negotiation Account, the Conversion to Alternative Fuel Grant Program Fund, the Wildlife Resources Conservation Easement Account, the Wild Game Meat Donation Fund, and the Colorado River Authority Restricted Account.

Created the Energy Development Infrastructure Fund to provide loans to public entities for infrastructure supporting nuclear power generation and transmission.

Allowed agencies to expend up to 100% of dedicated credits revenue exceeding appropriations if the credits are appropriated to specific fund types like expendable special revenue funds.

Changed the administration of the Industrial Assistance Account from annual transfers to annual set-asides and directed the GOEO board to make recommendations on loan applications.

Modified the Electrical Energy Development Investment Fund by changing its status from an expendable special revenue fund to a special revenue fund and making appropriations from it nonlapsing.

Clarified that agencies administering grants on behalf of other agencies must comply with applicable grant requirements and that the state auditor has authority to audit grant funds.

Prohibited administering agencies from using direct award grant funds to cover administrative costs unless explicitly allowed in the appropriation's intent language.

Modified competitive grant reporting requirements to require agencies to report recipients to the legislative fiscal analyst and Governor's Office of Planning and Budget under certain conditions.

Disqualified Board of Examiners members from reviewing overexpenditure reports if the line item belongs to their own office's budget.

Expanded the state auditor's authority to conduct performance and special purpose audits to determine compliance with the law and ensure efficient use of public funds.

Updated effective dates and repeal dates for various sections, with most changes taking effect July 1, 2026.

Included a coordination clause to make technical changes if this bill and H.B. 473 both pass, ensuring consistency between the two laws.

Created the Energy Development Infrastructure Fund to provide loans to public entities for nuclear power generation and transmission projects.

Repealed the Navajo Water Rights Negotiation Account, Wildlife Resources Conservation Easement Account, Wild Game Meat Donation Fund, and Colorado River Authority Restricted Account.

Prohibited administering agencies from using direct award grant funds to cover administrative costs unless explicitly allowed in the appropriation's intent language.

Allowed agencies to expend up to 100% of excess dedicated credits revenue if those credits are appropriated to specific fund types like expendable special revenue funds.

Added a requirement that members of the Board of Examiners be disqualified from reviewing overexpenditure reports for line items within their own offices' budgets.

Clarified that the state auditor has the authority to audit grant funds and determine personnel expenses.

Renamed the Agriculture Conservation Easement Account and the LeRay McAllister Working Farm and Ranch Fund.

Changed the Industrial Assistance Account administration to require annual set-asides instead of annual transfers and directed the GOEO board to recommend loan applicants.