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fund shall remain in the account and shall only be withdrawn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
�
