Brief ⁽¹⁾

SB 100 would authorize the transfer of funds from the State General Fund to the State Emergency Fund when the balance in the latter is insufficient for expenditures approved by the State Finance Council for state financial response to natural disasters or emergencies. Such transfers would be limited to $10.0 million per year.

Background

The bill was recommended by the Governor to the 1999 Legislature as a means of providing flexibility in the state's response to natural disasters and emergencies. The State Finance Council is authorized to allocate funding from the State Emergency Fund if needed to finance rapid state financial response to a natural disaster or emergency when the Legislature is not in session. Any such action requires the unanimous vote of the State Finance Council.

The passage of the bill itself does not have a fiscal note. Any transfers under the bill would be dependent on the extent of future natural disasters or emergencies. The balance in the State Emergency Fund is currently $2.0 million.

1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/bill_search.html