Sec. 2. (a) The local road and bridge matching grant fund is established to provide matching grants to local units for eligible projects.
(b) The department shall administer the fund.
(c) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Interest deposited in the fund under subsection (d).
(3) Money deposited in or transferred to the fund from any other source.
(d) The treasurer of state shall invest money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the fund.
(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
(f) Money in the fund is continuously appropriated for the purpose of the fund.
As added by P.L.146-2016, SEC.16.
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