Missouri Gov. Nixon Signs SB313 Into Law, Codifying Special State Treasury Funds For Federal Recovery Dollars

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March 26, 2009 -- JEFFERSON CITY, Mo. - Missouri Governor Jay Nixon today signed into law SB313, which codifies the two special funds the Governor created in February to track every dollar received by the State Treasury under the American Recovery and Reinvestment Act: the Federal Budget Stabilization Fund and the Federal Stimulus Fund.

On Feb. 26, Gov. Nixon opened these funds in anticipation of the state's first disbursement of federal recovery funds. Gov. Nixon established the funds proactively - before SB313 was passed - because the state received its first recovery funds the same day, and it was important that these transparency measures be in place before the federal funds began to flow into the State Treasury. The bill Gov. Nixon signed today codifies these two funds as the means to identify, segregate and track stimulus funds as they arrive in the State Treasury to ensure transparency and accountability to the taxpayers.

"The funds we receive under the federal recovery act are intended to create jobs and transform Missouri's economy, and I am committed to ensuring that each and every recovery dollar is used in an open and accountable manner to accomplish those goals," Gov. Nixon said. "These funds will be an important tool to help state officials, government agencies and all Missourians ensure that our recovery funds are put to the best use possible to help turn our economy around. I appreciate the work of Sen. Nodler, Sen. Bray and Rep. Icet to steer this bill through the legislature. And I look forward to continuing my work with the General Assembly to jumpstart our economy and get Missourians back to work."

In addition to establishing separate State Treasury funds for all federal recovery dollars, Gov. Nixon has established a special Web portal - Transform.mo.gov - where Missourians can track state recovery disbursements, submit their ideas and proposals for recovery projects and find additional resources about the federal recovery act and its impact on Missouri. To date, more than 3,250 proposals and ideas have come in through Transform.mo.gov.

Source: Missouri Governor