At the close of each fiscal year, the State Controller shall transfer amounts exceeding $100,000 from the unallocated balance in the Highway Fund to the Department of Transportation Highway and Bridge Capital; Highway Light Capital; Maintenance and Operations; and Multimodal Transportation Fund programs, for capital and all other needs. The Commissioner of Transportation may allot these funds by financial order upon the recommendation of the State Budget Officer and the approval of the Governor. The transferred amounts are considered adjustments to allocations. Within 30 days after approval of the financial order, the Commissioner of Transportation shall provide to the joint standing committee of the Legislature having jurisdiction over transportation matters a report detailing the financial status of the Department of Transportation, Highway and Bridge Capital program. [PL 2025, c. 66, §1 (AMD).] For the purposes of this section, "unallocated balance in the Highway Fund" means the amount remaining in the account at the close of the fiscal year after the deduction of all allocations, budgeted financial commitments and any other transfers authorized by statute. [PL 2025, c. 66, §1 (AMD).] The State Controller shall include in the State Controller's official annual financial report at the close of each fiscal year a statement showing all transfers made from the unallocated balance in the Highway Fund for the fiscal period. [PL 2025, c. 66, §1 (AMD).]
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