This bill amends Section 17-2-107 of the Montana Code Annotated to revise interentity loan procedures, specifically allowing federal special revenue funds to maintain a negative cash balance at fiscal year-end under certain conditions. The bill stipulates that an accounting entity in a federal special revenue fund may have a negative cash balance if the agency is expected to be reimbursed for expenditures from federal funds. Additionally, it introduces a requirement for agencies to certify their timely billing status to the department, ensuring that they continue to bill for costs incurred in a timely manner.

The bill also includes provisions for temporary loans between accounting entities, with specific conditions regarding repayment and interest. It allows for loans to be authorized for accounting entities in state special revenue funds with long-term repayment options, provided that the agency demonstrates that the total loan balance does not exceed total receivables. Furthermore, it mandates that if a fund or subfund has a negative cash balance for more than seven working days, transactions may not be processed through the statewide accounting system. The act is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 17-2-107
HB0061_1(1): 17-2-107
HB0061_1(2): 17-2-107
HB0061_1(3): 17-2-107
HB0061_1(4): 17-2-107
HB0061_1(5): 17-2-107
HB0061_1(6): 17-2-107
HB0061_1(7): 17-2-107
HB0061_1: 17-2-107
HB0061_2(1): 17-2-107
HB0061_2(2): 17-2-107
HB0061_2(3): 17-2-107
HB0061_2(4): 17-2-107
HB0061_2(5): 17-2-107
HB0061_2(6): 17-2-107
HB0061_2(7): 17-2-107
HB0061_2: 17-2-107
HB0061_X(1): 17-2-107
HB0061_X(2): 17-2-107
HB0061_X(3): 17-2-107
HB0061_X: 17-2-107