SB 779

This bill creates a new nonlapsible trust fund, designated as the water fund for

our future, to consist of $10,000,000 transferred biennially from the general fund.

Under the bill, the Joint Committee on Finance may at any time transfer any amount

of the unencumbered balance from the fund to the budget stabilization fund, if the

budget stabilization fund has been fully expended.

The bill also creates the Joint Committee for the Oversight of the Water Fund

for Our Future. Under the bill, the committee receives applications for making

expenditures from the fund and makes recommendations to JCF regarding use of the

fund.

Under the bill, the committee may also recommend to JCF an amount to

transfer to a rapid response account created within the water fund for our future,

which may be used by the Department of Natural Resources and the Department of

Health Services to respond to natural disasters and public health emergencies.

Funds from the rapid response account may be used for the costs of remediation and

to notify, relocate, and assist people affected by the natural disaster or public health

emergency.

The bill also allows DNR and the Department of Justice to seek reimbursement

from responsible parties for funds expended from the water fund for our future.

Finally, the bill allows any agency to submit a request to JCF for supplemental

funds from the water fund for our future. JCF may approve the request after

considering any recommendation from the Joint Committee for the Oversight of the

Water Fund for Our Future.