NC S605

Establishes the Disaster Relief Cash Flow Loan Fund in the Department of Transportation to address cash flow needs resulting from disaster recovery expenditures.

Transfers $90,000,000 in nonrecurring General Fund dollars to the new fund for fiscal year 2018-2019, plus remaining funds previously allocated under S.L. 2018-136.

Authorizes the Department to use fund resources solely for disaster relief cash flow needs and to deposit any federal reimbursements back into the fund, with a maximum aggregate limit of $300,000,000.

Requires quarterly reports to legislative committees and the Fiscal Research Division beginning October 1, 2019, detailing fund usage, reimbursement sources, and specific disasters funded.

Mandates repayment of $90,000,000 to the Savings Reserve and transfer of remaining balance to the Highway Fund by June 30, 2021, at which point the fund closes.