The proposed amendments to House Bill No. aim to facilitate a transfer of funds to the infrastructure revolving loan fund. Specifically, the bill stipulates a transfer of $20,000,000 from the strategic investment and improvements fund to the infrastructure revolving loan fund during the biennium from July 1, 2025, to June 30, 2027. This transfer is intended to support critical infrastructure projects, including correctional facilities, which are now explicitly included in the definition of eligible projects.

Additionally, the bill removes previous restrictions on the use of the transferred funds, which were limited to loans for political subdivisions specifically for correctional facilities. This change broadens the scope of potential projects that can be funded through the infrastructure revolving loan fund, allowing for a more flexible approach to addressing various infrastructure needs within the state.

Statutes affected:
Prepared by the Legislative Council staff for Representative Frelich: 6-09-49
FIRST ENGROSSMENT: 6-09-49