Page:United States Statutes at Large Volume 114 Part 4.djvu/417

This page needs to be proofread.

PUBLIC LAW 106-522—NOV. 22, 2000 114 STAT. 2479 "(A) IN GENERAL. — The 'minimum emergency reserve balance' with respect to a fiscal year is the amount equal to the applicable percentage of the total budget appropriated for operating expenditures for such fiscal year which is derived from local funds. "(B) APPLICABLE PERCENTAGE DEFINED.— In subpara- ' graph (A), the 'applicable percentage' with respect to a fiscal year means the following: "(i) For fiscal year 2001, 1 percent, "(ii) For fiscal year 2002, 2 percent. , "(iii) For fiscal year 2003, 3 percent. "(3) INTEREST. — Interest earned on the emergency reserve fund shall remain in the account and shall only be withdrawn in accordance with paragraph (4). " (4) CRITERIA FOR USE OF AMOUNTS IN EMERGENCY RESERVE FUND. —The Chief Financial Officer, in consultation with the Mayor, shall develop a policy to govern the emergency reserve fund which shall include (but which may not be limited to) the following requirements: "(A) The emergency reserve fund may be used to provide for unanticipated and nonrecurring extraordinary needs of an emergency nature, including a natural disaster or calamity as defined by section 102 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (Public Law 100-707) or unexpected obligations by Federal law. "(B) The emergency reserve fund may also be used in the event of a State of Emergency as declared by the Mayor pursuant to section 5 of the District of Columbia Public Emergency Act of 1980 (sec. 6-1504, D.C. Code). "(C) The emergency reserve fund may not be used to fund— "(i) any department, agency, or office of the Government of the District of Columbia which is administered by a receiver or other official appointed by a court; "(ii) shortfalls in any projected reductions which are included in the budget proposed by the District of Columbia for the fiscal year; or "(iii) settlements and judgments made by or against the Government of the District of Columbia. " (5) ALLOCATION OF EMERGENCY CASH RESERVE FUNDS.— Funds may be allocated from the emergency reserve fund only after— "(A) an analysis has been prepared by the Chief Financial Officer of the availability of other sources of funding to carry out the purposes of the allocation and the impact of such allocation on the balance and integrity of the emergency reserve fund; and "(B) with respect to fiscal years beginning with fiscal year 2005, the contingency reserve fund established by subsection (b) has been projected by the Chief Financial Officer to be exhausted at the time of the allocation. "(6) NOTICE. — The Mayor, the Council, and (in the case of a fiscal year which is a control year, as defined in section 305(4) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995) the District of Columbia 79-194O-00 -14:QL3Part4