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MT HB61
Bill
Status
Passed
3/27/2025
Primary Sponsor
Gary Parry
Click for details
AI Summary
- Federal special revenue funds may now carry negative cash balances at fiscal yearend when agencies are awaiting federal reimbursement for expenditures already made
- Agencies with federal special revenue funds that have negative cash balances exceeding 7 working days must certify to the department that they are billing the federal government on the earliest allowable date
- Monthly recertification of timely billing status is required for any month where cash remains negative for more than 7 working days
- Failure to recertify timely billing results in blocking transactions through the statewide accounting, budgeting, and human resource system for that fund
- Removes the formal interentity loan process for federal funds, replacing it with a certification-based system for managing temporary negative balances
Legislative Description
Revise inter-entity loan process
Appropriations
Last Action
Chapter Number Assigned
3/27/2025
Committee Referrals
State Administration1/17/2025
State Administration12/20/2024
Full Bill Text
No bill text available