The bill HB2815 introduces amendments to the Arizona Revised Statutes, specifically adding a new section 26-107, which establishes the Hazard Mitigation Revolving Fund (HMRF). The HMRF will be administered by the Department of Emergency and Military Affairs and will consist of monies appropriated by the Legislature and federal government funds. The monies in the HMRF are continuously appropriated and can be used in fiscal years 2023-2024 through 2027-2028 in accordance with the guidelines of the federal Safeguarding Tomorrow through Ongoing Risk Mitigation Act. The bill also includes a provision for the repeal of section 26-107, indicating that the HMRF will be a temporary measure with a specific end date.

Statutes affected:
Introduced Version: 26-107
House Engrossed Version: 26-107