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There are no projected reserves to be transferred to the Economic Stabilization Fund (Rainy Day Fund) in the 2026-2027 biennium because its balance also hit a record.
The Massachusetts rainy day fund has been the focus of tussles between the Governor of Massachusetts and the Massachusetts General Court. [ 3 ] [ 4 ] Section 49-g of the Texas Constitution provides for that state's fund (officially called the "Economic Stabilization Fund") and caps the amount of the fund at $28.5 billion, due to Texas' rapid ...
The authority of the United States Department of the Treasury to establish and manage TARP under a newly created Office of Financial Stability became law October 3, 2008, the result of an initial proposal that ultimately was passed by Congress as H.R. 1424, enacting the Emergency Economic Stabilization Act of 2008 and several other acts. [8] [9]
$53.6 billion in aid to local school districts to prevent layoffs and cutbacks, with flexibility to use the funds for school modernization and repair (State Fiscal Stabilization Fund) [50] $15.6 billion to increase Pell Grants from $4,731 to $5,350; $13 billion for low-income public schoolchildren; $12.2 billion for IDEA special education
(The Center Square) – Texas Gov. Greg Abbott on Thursday called on Congress to reimburse Texas for its border security operation, Operation Lone Star. Abbott sent letters to the leaders of the U ...
Mar. 21—AUSTIN — The Public Utility Commission of Texas (PUCT) Thursday adopted a new rule implementing the Texas Energy Fund In-ERCOT Generation Loan Program.
The Emergency Economic Stabilization Act created the Troubled Asset Relief Program to administer up to $700 billion. Several oversight mechanisms are established by the bill, including the Congressional Oversight Panel, the Special Inspector General for TARP (SIGTARP), the Financial Stability Oversight Board, and additional requirements for the Government Accountability Office (GAO) and the ...
United States Department of the Treasury. After the freeing up of world capital markets in the 1970s and the repeal of the Glass–Steagall Act in 1999, banking practices (mostly Greenspan-inspired "self-regulation") and monetized subprime mortgages sold as low risk investments reached a critical stage during September 2008, characterized by severely contracted liquidity in the global credit ...