The bill amends the Emergency Management Act of 1976 by adding a new section, Sec. 19a, which establishes the "safeguarding tomorrow revolving loan fund" within the state treasury. This fund will receive deposits from the state treasurer, including money and assets from the Robert T. Stafford Disaster Relief and Emergency Assistance Act, as well as other sources. The state treasurer is responsible for managing the fund, including directing investments and ensuring that any unspent money at the end of the fiscal year remains in the fund rather than lapsing into the general fund.

Additionally, the bill designates the department as the administrator of the safeguarding tomorrow revolving loan fund for auditing purposes and allows for the expenditure of funds solely for the reasonable costs associated with administering this section. Political subdivisions or tribes are permitted to borrow from the fund in accordance with the Stafford Act and its regulations. The bill also defines "tribe" to include Indian tribes listed under federal law.

Statutes affected:
House Introduced Bill: 30.401, 30.421