Bill Title: Creates the Coronavirus Urgent Remediation Emergency (CURE) Borrowing Act. Provides that the Governor, with the approval of the Comptroller and Treasurer, is authorized to borrow funds from the Federal Reserve Bank or its agent in accordance with the Municipal Liquidity Facility program established under the federal Coronavirus Aid, Relief, and Economic Stabilization Act (CARES) Act and the Federal Reserve Act, or in accordance with federal coronavirus financing legislation. Sets forth the purposes for which such funds can be used. Provides for the terms for borrowing, provides that the total amount borrowed may not exceed $5,000,000,000 outstanding at any time, and provides for the repayment of funds borrowed. Provides a continuing appropriation for the repayment of funds borrowed. Amends the State Finance Act. Creates the Coronavirus Urgent Remediation Emergency Borrowing Fund and makes conforming changes. Amends the Short Term Borrowing Act to make conforming changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2020-05-29 - Public Act . . . . . . . . . 101-0630 [SB2099 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
Senate	Concurrence in Senate	2020-05-22	37	19	3	0	59	Passed	Link	View
Senate	Concurrence in Senate	2020-05-22	37	19	3	0	59	Passed	Link	View
Senate	Concurrence in Senate	2020-05-22	37	19	3	0	59	Passed	Link	View
House	Third Reading in House	2020-05-22	71	45	0	0	116	Passed	Link	View
Senate	Third Reading in Senate	2019-03-27	49	0	10	0	59	Passed	Link	View

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