Nixon signs law to create funds for stimulus

Gov. Jay Nixon this morning signed into law Senate Bill 313, requiring all of Missouri's economic stimulus money to be placed in two special funds.

The two funds - the Federal Budget Stabilization Fund and the Federal Stimulus Fund - will identify, segregate and track Missouri's share of the $787 billion stimulus as the money arrives in the state treasury.

"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," Nixon said in a news release.

Nixon also has established transform.mo.gov, a Web site for Missourians to track state recovery disbursements, submit ideas and proposals for recovery projects and find information on the federal recovery act. To date, more than 3,250 proposals and ideas have been submitted through the Transform site, according to the release.