1. The Disaster Relief Account is hereby created in the State General Fund. The Interim Finance Committee shall administer the Disaster Relief Account. 2. The Office may accept grants, gifts or donations for deposit in the Disaster Relief Account. Except as otherwise provided in subsection 3, money received from: (a) A direct legislative appropriation to the Disaster Relief Account; (b) A transfer from the State General Fund in an amount equal to not more than 10 percent of the aggregate balance in the Account to Stabilize the Operation of the State Government made pursuant to NRS 353.288 ; and (c) A grant, gift or donation to the Disaster Relief Account, must be deposited in the Disaster Relief Account. Except as otherwise provided in NRS 414.500 , the interest and income earned on the money in the Disaster Relief Account must, after deducting any applicable charges, be credited to the Disaster Relief Account. 3. If, at the end of each quarter of a fiscal year, the balance in the Disaster Relief Account exceeds 0.75 percent of the total amount of all appropriations from the State General Fund for the operation of all departments, institutions and agencies of State Government and authorized expenditures from the State General Fund for the regulation of gaming for that fiscal year, the State Controller shall not, until the balance in the Disaster Relief Account is 0.75 percent or less of that amount, transfer any money in the Account to Stabilize the Operation of the State Government from the State General Fund to the Disaster Relief Account pursuant to the provisions of NRS 353.288 . 4. Money in the Disaster Relief Account may be used for any purpose authorized by the Legislature or distributed through grants to persons who own and occupy homes damaged by a disaster pursuant to NRS 353.2737 or through grants and loans to state agencies and local governments as provided in NRS 353.2705 to 353.2771 , inclusive. Except as otherwise provided in NRS 353.276 , grants to state agencies and local governments will be disbursed on the basis of reimbursement of costs authorized pursuant to NRS 353.274 and 353.2745 . 5. If the State Board of Examiners receives a notice submitted to and forwarded by the Office pursuant to subsections 1 and 2 of NRS 353.2755 , the State Board of Examiners shall estimate: (a) The money in the Disaster Relief Account that is available for grants and loans for the disaster that is the subject of the notice pursuant to the provisions of NRS 353.2705 to 353.2771 , inclusive; and (b) The anticipated amount of those grants and loans for the disaster. Except as otherwise provided in this subsection, if the anticipated amount determined pursuant to paragraph (b) exceeds the available money in the Disaster Relief Account for such grants and loans, all grants and loans from the Disaster Relief Account for the disaster must be reduced in the same proportion that the anticipated amount of the grants and loans exceeds the money in the Disaster Relief Account that is available for grants and loans for the disaster. If the reduction of a grant or loan from the Disaster Relief Account would result in a reduction in the amount of money that may be received by a state agency or local government from the Federal Government, the reduction in the grant or loan must not be made.
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