Plain English Breakdown
The bill summary and text do not provide specific details about the increase in annual funding, only that it is set at $4 million annually beginning in fiscal year 2025.
Create a Permanent Disaster Resilience Fund
The bill changes the Montana local disaster resiliency fund to be permanent, increases its annual funding from up to $15 million to $4 million starting in fiscal year 2025, and sets rules for transferring funds.
What This Bill Does
- Changes the Montana local disaster resiliency fund from temporary to permanent.
- Increases annual funding from up to $15 million to $4 million per year beginning in fiscal year 2025.
- Removes the termination date of June 30, 2027 for the fund.
- Requires the state treasurer to transfer $50 million each year from the general fund to the disaster resiliency fund until June 30, 2027.
Who It Names or Affects
- The Department of Military Affairs
- Local governments and communities in Montana
Terms To Know
- Mitigation projects
- Projects that reduce or eliminate long-term risk to people and property from future natural disasters.
- General Fund
- The main fund of the state government used for various expenses, including transfers to other funds like the disaster resiliency fund.
Limits and Unknowns
- The bill did not pass and died in process.
- It is unclear how much funding will be available beyond June 30, 2027 without further legislation.