HI HB954

Establishes a major disaster reserve trust fund outside the state treasury to hold federal reimbursement moneys for disaster relief.

Allows the director of finance to establish the fund and any necessary accounts, with the director of civil defense administering the moneys.

Permits moneys in the fund to be invested and reinvested according to a plan of operation developed by the director.

Exempts disbursements from the major disaster reserve trust fund from procurement law (chapter 103D) requirements.

Takes effect July 1, 2010.