FINANCE-TECH

This bill amends the Short Term Borrowing Act to make a technical adjustment regarding cash flow borrowing provisions. It allows the Governor, Comptroller, and Treasurer to contract debts up to 5% of a fiscal year's state appropriations when timing differences occur between budget fund disbursement and revenue collection. The borrowed funds must be used for their original purpose or to cover borrowing costs and must be repaid by the end of the fiscal year in which they were borrowed. This change affects the state's financial management procedures for handling temporary cash flow gaps within Illinois government operations.