Unicameral Neb. legislature’s Appropriations Committee advanced b...
Unicameral Neb. legislature’s Appropriations Committee advanced bill (LB-37) that would allow state treasurer to borrow from state universal service telephone fund if needed to cover general state expenses. Transfers would be allowed up to point where fund’s reserve equaled…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
60 days of financial obligations. Bill was advanced in special session convened to address state budget crisis. Transfers from state USF would have to be repaid within 30 days or would accrue 5% interest annually. State projects $232 million budget shortfall for 2002-2003 fiscal year, and needs to find minimum of $100 million to meet mandatory financial and legal obligations. Bill now goes to legislature’s floor. Bill is successor to defeated proposal that would have transferred $10 million from USF to state’s general fund.