Maryland HB953 allows the Governor to transfer funds from the Revenue Stabilization Account to the State Disaster Recovery Fund.

Maryland HB953 authorizes the Governor to transfer funds from the Revenue Stabilization Account to the State Disaster Recovery Fund, subject to approval by the Board of Public Works. This transfer is permitted unless it would reduce the Account balance below 5% of the estimated General Fund revenues for the fiscal year. The State Disaster Recovery Fund consists of various sources including appropriations, transfers, repayments, reimbursements, and interest earnings. The Act takes effect June 1, 2026.

Maryland HB953 allows the Governor to transfer funds from the Revenue Stabilization Account to the State Disaster Recovery Fund.

Maryland HB953 authorizes the Governor to transfer funds from the Revenue Stabilization Account to the State Disaster Recovery Fund, subject to approval by the Board of Public Works. This transfer is permitted unless it would reduce the Account balance below 5% of the estimated General Fund revenues for the fiscal year. The State Disaster Recovery Fund consists of various sources including appropriations, transfers, repayments, reimbursements, and interest earnings. The Act takes effect June 1, 2026.