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131st MAINE LEGISLATURE |
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LD 2225 |
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LR 3090(02) |
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An Act to Provide
Funding to Rebuild Infrastructure Affected by Extreme Inland and Coastal
Weather Events |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Appropriations and Financial Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$0 |
$0 |
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| Appropriations/Allocations |
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Other Special Revenue Funds |
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$60,000,000 |
$1,000 |
$0 |
$0 |
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| Transfers |
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General Fund |
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$0 |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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$60,000,000 |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill
includes a one-time Other Special Revenue Funds allocation of $50,000,000 in
fiscal year 2023-24 to the Department of Transportation for municipal, state
or regionally significant infrastructure adaptation, repair and improvements
that support public safety, protection of essential community assets,
regional economic needs and long-term infrastructure resiliency. A one-time Other Special Revenue Funds
allocation of $500 in fiscal year 2024-25 is included to authorize the
expenditure of any unspent funds carried forward from the previous fiscal
year. The bill also includes a
one-time transfer of $50,000,000 in fiscal year 2023-24 from the Maine Budget
Stabilization Fund to an Other Special Revenue Funds account in the
Department of Transportation to fund these infrastructure adaptations. |
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This bill also
includes a one-time Other Special Revenue Funds allocation of $10,000,000 in
fiscal year 2023-24 to a newly established Business Recovery and Resilience
Program within the Department of Economic and Community Development to
provide grant opportunities for businesses and organizations, including
non-profit organizations, affected by severe weather-related events. A
one-time Other Special Revenue Funds allocation of $500 in fiscal year
2024-25 is included to authorize the expenditure of any unspent funds carried
forward from the previous fiscal year.
A one-time transfer of $10,000,000 in fiscal year 2023-24 from the
Maine Budget Stabilization Fund to the Business Recovery and Resilience
Program Other Special Revenue Funds account is provided to fund the grant
opportunities. |
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