SB 2962

Abstract

Amends the Historic Preservation Agency Act. Creates the Federal Historic Sites and Preservation Services Federal Trust Fund as a trust fund outside the State treasury. Provides that the Trust Fund is established to receive funds from all federal departments and agencies for the specific purposes established by the terms and conditions of federal awards. Provides that funds shall be used by the Agency for administrative expenses and grants and contracts allowable under the terms and conditions of those federal awards, except that any portion of those federal awards required by federal law to be transferred by the State to local governments or other recipients shall be transferred without appropriation. Provides that moneys in the Trust Fund are not subject to appropriation. Provides that all federal assets, funds, or moneys received by the Historic Preservation Agency shall be deposited and held in the Trust Fund by the State Treasurer as ex officio custodian separate and apart from all public moneys or funds of this State and shall be administered by the Director of the Agency exclusively for the purposes set forth in the federal awards.