(a) There is established a fund to be known as the Coordinated Emergency Recovery Fund. The State Treasurer shall be the custodian of said fund and is authorized to accept gifts, grants or donations from private sources to be held in the fund and disbursed in accordance with subsection (b) of this section and sections 45a-514 and 47-2. The sums received by the fund shall be accounted for separately and apart from all other state moneys, and the full faith and credit of the state of Connecticut is pledged for their safekeeping.
(b) Disbursements from the fund shall be made by the State Treasurer or the State Treasurer's designee to CT CARE upon (1) the declaration of an eligible incident, and (2) receipt of the certification required in subdivision (6) of subsection (c) of section 4-37s.
(c) On or before January 1, 2014, and monthly thereafter, the State Treasurer shall submit to the Governor and the Attorney General a report on the financial condition of the Coordinated Emergency Recovery Fund. Such report shall include (1) an estimate of the fund's value as of the date of the report; (2) the effect of disbursements and scheduled disbursements on the fund's value; and (3) an estimate of the monthly administrative costs necessary to operate the fund.
(P.A. 13-275, S. 6.)
History: P.A. 13-275 effective July 11, 2013.
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