NC S608

Transfers $301,000,000 from the Savings Reserve to the Highway Fund for the 2018-2019 fiscal year to be used by the Department of Transportation for disaster relief cash flow needs.

Restricts the use of transferred funds exclusively to costs related to disaster relief.

Requires the Department of Transportation to ensure fund expenditure does not adversely affect the state's eligibility for federal disaster relief reimbursement funds.

Mandates that all federal reimbursements received for these expenditures be returned to the Savings Reserve, with any unspent funds reverting to the Savings Reserve by June 30, 2021.

Requires the Department of Transportation to submit a detailed report on fund usage to legislative committees and the Fiscal Research Division by July 15, 2021.