Sec. 16.3161. FLOODPLAIN MANAGEMENT ACCOUNT. (a) The floodplain management account is a special fund in the state treasury outside the general revenue fund. The fund is composed of:
(1) money deposited to the credit of the account under Section 251.004, Insurance Code;
(2) money directly appropriated to the board; and
(3) money from gifts or grants from the United States government, local or regional governments, private sources, or other sources.
(b) The account shall be administered by the board in accordance with this section.
(c) The board may use the account to fund the performance of the board's functions under Section 16.316.
(d) The board may invest, reinvest, and direct the investment of any available money in the account as provided by law for the investment of money under Section 404.024, Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 1323 (S.B. 1436), Sec. 7, eff. September 1, 2007.
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