House Bill 17-78, House Draft 1, Senate Substitute 1, is expected to be signed into law soon.
Of the total amount, $1.7 million represents the balance from CUC’s previous loan of $3.4 million that was authorized in 2008.
Lawmakers said H.B. 17-78 is a stand-alone bill that strictly deals with CUC’s financial troubles, which have affected its ability to pay for the fuel needed by its power plants, and has nothing to do with the payroll.
“Funds earmarked herein shall be available for CUC upon transfer from MPLT to the general fund; provided that MPLT is hereby authorized to withhold future interest income distributions except for 2011…until the remaining $1.7 million balance to CUC plus the additional $4 million advanced to the general fund for a total of $5.7 million are reimbursed to MPLT. Funds shall be continuously available until fully expended, shall not be reprogrammed for any other purpose, and shall not be reprogrammed….,” the bill states.
Public Law 17-6 already authorizes the governor to reprogram up to $10 million of unexpended funds from independent agencies and programs for payroll.
The next payroll is due on Friday, July 2.
The central government needs $5.13 million for the salaries of its personnel.
