SB23-263
General Fund Loan Natural Disaster Mitigation Enterprise
Concerning a loan from the general fund to the natural disaster mitigation enterprise to defray expenses incurred before the receipt of fee revenue or revenue bond proceeds.
Session:
2023 Regular Session
Subject:
Bill Summary
Public Health
The act requires the state treasurer to transfer $95,000 from the general fund to the natural disaster mitigation cash fund to defray expenses incurred by the natural disaster mitigation enterprise (enterprise) before the enterprise receives fee revenue or revenue bond proceeds. The transfer is a loan from the state treasurer to the enterprise that is required to be repaid and is not a grant for purposes of the state constitution or any other state law. The enterprise is required to repay the loan and accumulated interest by December 31, 2025.
APPROVED by Governor June 6, 2023
EFFECTIVE June 6, 2023
(Note: This summary applies to this bill as enacted.)