131st MAINE LEGISLATURE
LD 2225 LR 3090(04)
An Act to Provide Funding to Rebuild Infrastructure Affected by Extreme Inland and Coastal Weather Events
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Appropriations and Financial Affairs
Fiscal Note Required: Yes
             
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $60,000,000 $0 $0 $0
Appropriations/Allocations
Other Special Revenue Funds $60,000,000 $1,000 $0 $0
Transfers
General Fund ($60,000,000) $0 $0 $0
Other Special Revenue Funds $60,000,000 $0 $0 $0
Fiscal Detail and Notes
This bill includes a one-time Other Special Revenue Funds allocation of $50,000,000 in fiscal year 2023-24 and $500 in fiscal year 2024-25 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 unappropriated surplus of the General Fund to the Infrastructure Adaptation Fund to fund the allocation.
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 unappropriated surplus of the General Fund to the Business Recovery and Resilience Program Other Special Revenue Funds account is provided to fund the grant opportunities.