summary
Introduced
01/29/2025
01/29/2025
In Committee
05/31/2025
05/31/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Short Term Borrowing Act. Makes a technical change in a Section concerning cash flow borrowing.
AI Summary
This bill makes a minor technical correction to the Short Term Borrowing Act, specifically within the section that addresses borrowing to manage cash flow. The change clarifies that borrowing is permissible when there are significant timing differences between when money is expected to be received and when it needs to be paid out within a fiscal year, allowing the Governor, Comptroller, and Treasurer to borrow up to 5% of the State's appropriations for that year to cover these temporary shortfalls, with the borrowed funds needing to be repaid by the end of that same fiscal year.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Rule 19(a) / Re-referred to Rules Committee (on 05/31/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2097&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB2097.htm |
Loading...