Current through Public Act 166 of the 2024 Legislative Session
Section 129.244 - Total combined authorized credit limit; limitation; payment of balance, annual fee, and interest(1) The total combined authorized credit limit of all credit cards issued by a local unit shall not exceed 5% of the total budget of the local unit for the current fiscal year.(2) The governing body of a local unit may include in its budget and pay the balance due on any credit cards, including the annual fee and interest.1995, Act 266, Eff. 7/8/1996 .