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Relating to the creation of the disaster response loan fund and the permissible uses of that fund; making an appropriation.
No significant fiscal implication to the State is anticipated.
HB 2812 would create the Disaster Response Loan Fund outside the State Treasury but administered by the Comptroller. The account would provide short-term loans to political subdivisions that have been affected by a disaster declared by the Governor and are eligible for financial assistance from FEMA. The Comptroller would be required to transfer $500 million from the unencumbered balance of the general revenue fund to start the account if the bill is passed.
Disaster response and recovery for the purpose of repairing public infrastructure is within the legitimate role of the state to address. At this time we remain neutral on HB 1917.
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