Flood Control Compact Fund

Section 35CCC. There shall be established and set up on the books of the commonwealth a Flood Control Compact Fund, which shall be administered by the department of conservation and recreation. The fund shall be credited with: (i) all sums received by the commonwealth on account of compacts authorized by the general court, including sums received from other states; (ii) any appropriations, bond proceeds or other monies authorized or transferred by the general court and specifically designated to be credited to the fund; (iii) all other amounts credited or transferred to the fund from any other fund or source; and (iv) interest or investment earnings on any such monies. Amounts credited to the fund may be expended, without further appropriation, by the department for costs arising under any compact authorized by the general court, including, but not limited, to reimbursing cities and towns in the commonwealth or other states and their political subdivisions for costs. The unexpended balance in the fund at the end of a fiscal year shall not revert to the General Fund, but shall remain available for expenditure in subsequent fiscal years. No expenditure made from the fund shall cause the fund to become deficient at any point.