* § 97-tttt. Restore mother nature bond fund. 1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a special fund to be known as the "restore mother nature bond fund".

2. The state comptroller shall deposit into the restore mother nature bond fund all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to section four of the environmental bond act of 2022 "restore mother nature".

3. Moneys in the restore mother nature bond fund, following appropriation by the legislature and allocation by the director of the budget, shall be available only for reimbursement of expenditures made from appropriations from the capital projects fund for the purpose of the restore mother nature bond fund, as set forth in the environmental bond act of 2022 "restore mother nature".

4. No moneys received by the state from the sale of bonds and/or notes sold pursuant to the environmental bond act of 2022 "restore mother nature" shall be expended for any project until funds therefor have been allocated pursuant to the provisions of this section and copies of the appropriate certificates of approval filed with the chair of the senate finance committee, the chair of the assembly ways and means committee and the state comptroller.

* NB Takes effect only if section 1 of part TT of chapter 59 of the laws of 2021 enacting the environmental bond act of 2022 "restore mother nature" is submitted to the people at the general election to be held in November 2022 and is approved by the majority of votes