Joint Budget Committee. The bill creates the Infrastructure
Investment and Jobs Act cash fund (fund) and requires the state treasurer
to transfer $81.5 million to the fund. The money in the fund is continuously appropriated to departments, subject to approval by the governor to be used as the nonfederal match funding necessary for the state or a local government to be eligible to receive federal approval and federal funds for certain categories of infrastructure projects allowed under the federal Infrastructure Investment and Jobs Act. The office of the governor (office) must establish a process for receiving, reviewing, and approving applications and awarding and distributing money from the fund and the office, as well as state departments receiving money from the fund, are subject to annual reporting requirements.
