Republican Senate leaders have proposed a bill to pause interest on state treasury loans.
As the budget impasse continues into its third month, $500 million in loans have been made available for counties to fill budget gaps.
Lawmakers have now proposed a bill that would prevent the treasury on collecting any interest on loans.
If passed the bill would be retroactive to any loans already given out by the treasury. It will also allow the treasurer to once again pause interest collection for next year’s fiscal year.
The bill passed by a vote of 14 to six in the Senate Appropriations Committee and the bill could see a vote on the senate floor by the end of this week.
