Joint Budget Committee. The bill creates the 2013 flood recovery account in the disaster emergency fund. On July 1, 2017, the state treasurer is required to transfer $12.5 million from the general fund to the account. The account consists of money from this transfer and any money that the general assembly appropriates to the account in the future. Money in the account is only available for the governor to use for the costs associated with the response and recovery from the flood that occurred in the state in 2013. The account is repealed on June 30, 2021, at which time the state treasurer will transfer any remaining balance back to the general fund.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)