SB 64

This bill authorizes the Division of Emergency Management in the Department

of Military Affairs to enter into an agreement with the Federal Emergency

Management Agency (FEMA) to receive federal grant funding for the purpose of

establishing a hazard mitigation revolving loan program. The bill creates a separate,

nonlapsible trust fund, designated as the Hazard Mitigation Revolving Loan Fund,

to accept money from FEMA under the federal Safeguarding Tomorrow through

Ongoing Risk Mitigation (STORM) Act, Public Law 116-284. Under the bill, if DMA

enters into such an agreement with FEMA, the secretary of administration must

transfer from the general fund to the Hazard Mitigation Revolving Loan Fund an

amount equal to 10 percent of any money received from the federal government, and

DMA must provide loans to local units of government for hazard mitigation projects

in accordance with the requirements of the STORM Act.