LD 2215
pg. 1
LD 2215 Title Page An Act to Address the Cash Flow and Funding Needs of State Government for the F... Page 2 of 4
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LR 3649
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 5 MRSA §150, 2nd ¶, as amended by
PL 2001, c. 467, Pt. A, §1, is further
amended to read:

 
The Treasurer of State, with the approval of the Governor, may negotiate a temporary loan or loans in anticipation of taxes levied for that fiscal year, but not exceeding a total of that amount of taxes estimated by the Treasurer of State to be collected in the fiscal year in which the temporary loan or loans, or renewal of the temporary loan or loans, is made, as long as the temporary loans or renewals of the temporary loans do not exceed any limitation set forth in the Constitution of Maine, Article IX, Section 14. Any such loans may be renewed from time to time as the Treasurer of State, with the approval of the Governor, determines, except that each loan or renewal of the loan must be retired not later than the close of the fiscal year in which the loan was originally made and for which were levied the taxes in anticipation of the collection of which the loan was originally made; and that each loan or renewal of the loan must comply with the provisions of this section and the Constitution of Maine, Article IX, Section 14. The Treasurer of State shall pay the loan or loans in anticipation of taxes during the year and there is appropriated for any year in which the Treasurer of State and the Governor determine it necessary to borrow in anticipation of taxes the sum of $100,000,000.

 
Sec. 2. Appropriations and allocations. The
following appropriations and allocations
are made.

 
ADMINISTRATIVE AND FINANCIAL
SERVICES, DEPARTMENT OF

 
Bureau of General Services Capital
Improvement

 
Reserve Fund

 
Initiative: Deappropriates funds
designated for an architectural and
engineering assessment of the Harlow
Building that will be shifted to bond
funds.

 
General Fund2001-02

 
All Other$0

 
ADMINISTRATIVE AND FINANCIAL
SERVICES,

 
DEPARTMENT OF

 
DEPARTMENT TOTALS2001-02


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