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131st MAINE LEGISLATURE |
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LD 2225 |
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LR 3090(04) |
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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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$60,000,000 |
$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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($60,000,000) |
$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 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. |
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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 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. |
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