Disaster Emergency Fund Changes

Source-provided summary

The act makes the following changes to the disaster emergency fund:Requires the office of state planning and budgeting (office) to include in its quarterly reports to the joint budget committee an identification of disasters that have been closed out and the amount of unencumbered money that the office has transferred back to its original source;Institutes a timeline for closing out a disaster based on the type of disaster, 3 years for a federally declared disaster or 8 years for a state-only disaster; andLimits the annual maximum unencumbered balance of the disaster emergency fund to $200,000,000 and directs the office to transfer money in excess of that amount to the general fund after August 12, 2026, and on June 30 each year thereafter.(Note: This summary applies to this bill as enacted.)