The bill amends the Emergency Management Act of 1976 by establishing a disaster and emergency contingency fund, which will be administered by the director. It mandates that an annual accounting of expenditures be submitted to the legislature, which is required to appropriate sufficient funds to maintain the fund at a level not to exceed $15,000,000 and not less than $7,500,000. Additionally, any unexpended and unencumbered funds at the end of the fiscal year will not lapse to the general fund but will be carried forward for future expenditures.

The bill also outlines the director's authority to expend money from the fund for necessary expenses related to disaster or emergency operations, with the governor's concurrence for additional needs. It allows for reimbursements from federal or other sources to be placed directly into the fund and specifies that expenditures may be made to cover the state's matching share of federal grants in the event of a major disaster declared by the President. Furthermore, the state treasurer is tasked with directing the investment of the fund and crediting it with any interest and earnings from those investments.

Statutes affected:
House Introduced Bill: 30.418