S704 - COVID-19 Recovery Act . (SL 2020-3)

Overview: Section 4.9 of S.L. 2020-3 amends requirements regarding the Transportation Emergency Reserve. The law establishing the Transportation Emergency Reserve requires the Department of Transportation to transfer $125 million to the Emergency Reserve from the Highway Fund by July 30 of each fiscal year. This section provides that the Department does not have to transfer funds to the Reserve for the 2020-2021 fiscal year.

This section became effective May 4, 2020.