(1) There is hereby created the Colorado long-term works reserve, referred to in this section as the "reserve", that shall consist of unappropriated TANF block grant moneys, state general fund moneys appropriated thereto by the general assembly, and moneys transferred thereto pursuant to sections 26-2-714 (5)(a), 26-2-716 (4)(b), 26-2-720.5 (1), and 26-2-721.3 (1). A county's excess unspent TANF reserves that are transferred to another county pursuant to section 26-2-714 (5)(a)(I)(B) or (5)(a)(I)(C) shall not be considered unappropriated TANF block grant moneys for purposes of this section. Any excess unspent TANF reserves for state fiscal year 2009-10 shall be excluded from the Colorado long-term works reserve and shall be available for transfer to a county pursuant to section 26-2-714 (5)(a)(I)(B).

(2) The general assembly, upon request of the state department, may appropriate the moneys in the reserve for the purposes of:

(a) Implementing the works program, including but not limited to:

(I) Funding the Colorado works program maintenance fund created in section 26-2-721.3; and

(II) Repealed.

(b) Transfers that are allowed under the federal law for transfers to programs funded by Title XX of the social security act or for transfers to the child care development fund.

(3) Prior to requesting any appropriations from the reserve for the purpose of making transfers, the state department shall consult with counties and provide information to the joint budget committee for the purposes of ensuring that all transfers of TANF funds do not exceed the federal limits for transfers and ensuring that the needs of counties to make transfers authorized pursuant to section 26-2-714 (7) and (9) are considered.

(4) Notwithstanding section 24-1-136 (11)(a)(I), no later than August 31, 2018, and no later than June 30 of each year thereafter, the works allocation committee shall submit to the executive director, the governor, and the joint budget committee recommendations for the use of the reserve for the upcoming state fiscal year. In developing annual recommendations, the works allocation committee shall consider the expected reserves and the Colorado works program needs over the next three fiscal years. The state department-appointed members of the works allocation committee are not required to vote on the works allocation committee's annual recommendations. The county-appointed members on the works allocation committee shall draft the annual recommendations.