2005 Maine Code - §745 — Disaster Relief Fund

      1. Fund established. There is established the Disaster Relief Fund, referred to in this section as "the fund," to be administered by the agency.[2005, c. 439, §1 (new).]
      2. Sources of fund. The following must be paid into the fund:
   
A. All money appropriated for inclusion in the fund; [2005, c. 439, §1 (new).]    
B. All interest from investment of the fund; and [2005, c. 439, §1 (new).]    
C. Any other money deposited in the fund from the Department of Defense, Veterans and Emergency Management, Disaster Assistance Relief, Other Special Revenue Funds account. [2005, c. 634, §13 (amd).] [2005, c. 634, §13 (amd).]
      3. Use of fund. The fund must be the first resource used when section 742 or 744 is invoked. The fund may also be used for the purpose of matching federal funds in the event of a federally declared disaster.[2005, c. 634, §13 (amd).]
      4. Fund balance. The fund's balance may not exceed $3,000,000. Any amount, including interest, that accrues in excess of $3,000,000 must be transferred by the State Controller to the Maine Budget Stabilization Fund, established in Title 5, section 1532.[2005, c. 634, §13 (new).]
      5. Annual report. The director shall submit a written report by January 15, 2007 and annually thereafter to the Governor and the Legislature on the fund's balance and expenditures.[2005, c. 634, §13 (new).]

Section History:

PL 2005,  Ch. 439,   §1 (NEW).
PL 2005,  Ch. 634,   §13 (AMD).