SB0536 amends the Short Term Borrowing Act to make a technical change in cash flow borrowing provisions.
SB0536 amends the Short Term Borrowing Act by making a technical change in the Section concerning cash flow borrowing. This change allows the Governor, Comptroller, and Treasurer to contract debts in anticipation of revenues to be collected within a fiscal year, up to 5% of the State's total. The borrowed funds must be repaid by the close of the fiscal year in which they were borrowed.
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