(a) This subsection is declarative of existing law. The Disaster Response and Recovery Fund is created as a State trust fund in the State treasury for the purpose of receiving funds from any sources, public or private, including federal sources, to be used for costs of responding to and recovering from disasters declared by the Governor and other emergencies. Moneys in the Disaster Response and Recovery Fund may be expended for qualifying purposes at the direction of the Governor and in accordance with Sections 8 and 9 of the Illinois Emergency Management Agency Act and the Emergency Management Assistance Compact Act.
     (b) Federal funds received by the State from the Coronavirus Relief Fund established in Section 5001 of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act may be deposited into the Disaster Response and Recovery Fund and accounted for separately from any other moneys in the Fund. Such federal funds shall be transferred, distributed or expended from the Disaster Response and Recovery Fund only for purposes permitted in the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and related federal guidance, and as authorized by this Section. At any time, the Governor may direct the transfer of any portion of such federal funds to the State Coronavirus Urgent Remediation Emergency (State CURE) Fund or the Local Coronavirus Urgent Remediation Emergency (Local CURE) Fund for further use in accordance with the purposes authorized in the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, as it may be amended, and related federal guidance.