Fiscal Note
HB0046 - Disaster Recovery Funding
State Impact:
Local government repayments of state loans for disasters would be deposited in the new State Disaster Recovery Restricted Account. Any repayments of outstanding loans would go to the new fund instead of the Budgetary Reserve Account (Rainy Day Fund). There is also a potential appropriation from surplus revenues which would be dependent on the undesignated and unrestricted funding available.
| Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2009 Approp. | FY 2007 Revenue | FY 2008 Revenue | FY 2009 Revenue |
| General Fund Restricted | $0 | $0 | $0 | $0 | ($17,400,000) | $0 |
| Restricted Funds | $0 | $0 | $0 | $0 | $17,400,000 | $0 |
| Total | $0 | $0 | $0 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
To the extent that local governments create local disaster recovery funds they will be allowed to borrow from the State Disaster Relief Fund at reasonable interest rates.
| 1/15/2007, 5:23:04 PM, Lead Analyst: Wilko, A. | Office of the Legislative Fiscal Analyst |