1997 Session

Budget Amendments - HB1600 (Committee Approved)

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Yr. 2000 Loan Limit (language only)

Item 86 #2h

Item 86 #2h

Council On Information Management

Page 61, line 17, strike "shall provide for an"
Page 61, strike lines 18 through 29 and insert:
"may provide interest free treasury loans, not to exceed $1,000,000 to any agency or institution and not to exceed $10,000,000 in aggregate authorizations, for the purpose of assisting agencies and institutions in bringing their computer information systems into compliance with standards for the century date change which takes place in year 2000.  The specific terms and structure of any loan shall be approved by the Secretary of Finance, after consultation with the chairmen of the House Appropriations and Senate Finance Committees, or their designees.  A treasury loan for this purpose shall be considered as bridge financing until permanent financing recommendations are made and approved by the 1998 session of the General Assembly."

(This amendment provides for certain limitations on treasury loans which may be made administratively to address computer system improvements related to the year 2000 computer date change problem.)