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Governor Hogan says federal IOU payments are expected, may lag two to three months
Summary
Asked about federal 'IOU' payments, Governor Hogan said payments are expected but there may be a two- to four-month lag (ideally two to three months), and he said the state is in good financial shape and expects no collection action will be necessary.
A question to Governor Hogan asked whether the state had assurances that federal "IOU" payments would arrive in time to be included in Maryland's budget. Hogan replied that officials expect the payments and that timing may show a two- to four-month lag, "ideally two to three months."
Hogan said the process "has been working smoothly," that the state is in good financial shape and that he did not anticipate needing any collection action related to the payments. He characterized the issue as manageable and not likely to grow beyond the described timing variance.
The exchange did not produce a formal fiscal action or vote; participants moved on to other education and accountability topics.
