SUBPART J. FEMA REIMBURSEMENT FUND

§100.26. FEMA Reimbursement Fund

A. The FEMA Reimbursement Fund, hereinafter referred to as the "fund", is hereby created in the state treasury. Any money donated to the fund or appropriated to the fund by the legislature shall be deposited in the fund. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on the investment of monies in the fund shall be deposited in and credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund. Monies in the fund shall be appropriated for the purpose of providing funds to pay the state's portion of any amount due the United States under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. Monies in the fund may also be transferred to the State Emergency Response Fund by the commissioner of administration with the approval of the Joint Legislative Committee on the Budget.

B.(1) Notwithstanding any provision of law to the contrary, and particularly Subsection A of this Section, monies in the fund may also be used to provide bridge funding for the Department of Education in anticipation of reimbursement to be received from the federal government or any other source. Such bridge funding shall be utilized solely for expenses incurred or to be incurred as a result of Hurricanes Katrina and Rita. All such bridge funding extended to the Department of Education pursuant to this Subsection shall be returned to the fund no later than the end of the 2008-2009 Fiscal Year.

(2) Notwithstanding any provision of law to the contrary, and particularly of Subsection A of this Section, monies in the fund attributable to the return of payments made pursuant to the Subsection A of this Section may also be appropriated or used for The Road Home Program.

Acts 2006, No. 640, §2, eff. June 27, 2006; Acts 2007, No. 196, §1, eff. June 27, 2007; Acts 2011, No. 378, §9, eff. July 1, 2011.