Chair flags bills that could cap county cash reserves at 35%
The chair told supervisors that pending House and Senate bills under consideration in the state legislature could limit counties' cash reserves — he mentioned a possible 35% cap — and said it was unclear whether the bills would pass before adjournment.
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The meeting chair told supervisors that state lawmakers were considering bills that could limit the amount of cash reserves counties may hold. “They’re actually thinking of capping the amount of cash reserves we can even have,” the chair said, and mentioned a possible cap of 35 percent.
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