CHAPTER 705
S.P. 834 - L.D. 2215
An Act to Address the Cash Flow and Funding Needs of State Government for the Fiscal Years Ending June 30, 2002 and June 30, 2003
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that each loan or renewal of the loan must be retired not later than the close of the fiscal year in which the loan was originally made and for which were levied the taxes in anticipation of the collection of which the loan was originally made; and that each loan or renewal of the loan must comply with the provisions of this section and the Constitution of Maine, Article IX, Section 14.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 Fund 2001-02 2002-03
All Other $0 ($129,392)
ADMINISTRATIVE AND FINANCIAL SERVICES,
DEPARTMENT OF
DEPARTMENT TOTALS 2001-02 2002-03
GENERAL FUND $0 ($129,392)
____________ ____________
DEPARTMENT TOTAL -
ALL FUNDS $0 ($129,392)
SECRETARY OF STATE, DEPARTMENT OF THE
Bureau of Administrative Services and Corporations
Initiative: Provides funds for the increased referenda costs as a result of the number and the length of the questions to be submitted to the voters in June 2002 and November 2002.
General Fund 2001-02 2002-03
All Other $8,000 $121,392
SECRETARY OF STATE, DEPARTMENT OF THE
DEPARTMENT TOTALS 2001-02 2002-03
GENERAL FUND $8,000 $121,392
____________ ____________
DEPARTMENT TOTAL -
ALL FUNDS $8,000 $121,392
TREASURER OF STATE, OFFICE OF THE
Debt Service - Treasury
Initiative: Provides funds for the debt services costs associated with a tax anticipation note issue in fiscal year 2002-03.
General Fund 2001-02 2002-03
All Other $0 $7,500,000
TREASURER OF STATE, OFFICE OF THE
DEPARTMENT TOTALS 2001-02 2002-03
GENERAL FUND $0 $7,500,000
____________ ____________
DEPARTMENT TOTAL -
ALL FUNDS $0 $7,500,000
SECTION TOTALS 2001-02 2002-03
GENERAL FUND $8,000 $7,492,000
____________ ____________
SECTION TOTAL -
ALL FUNDS $8,000 $7,492,000
Effective July 25, 2002, unless otherwise indicated.
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