Illinois HB2097 amends the Short Term Borrowing Act to allow borrowing for cash flow variations.
Illinois HB2097 amends the Short Term Borrowing Act to allow the Governor, Comptroller, and Treasurer to borrow funds when there are significant timing variations between disbursement and receipt of budgeted funds within a fiscal year. The borrowed funds must be repaid by the end of the fiscal year and can only be used for the purpose they were obtained. This change aims to manage cash flow variations more effectively.
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