DALLAS - Texas officials say that temporary Internal Revenue Service regulations could prevent the state from using tax-exempt notes for all of its record $2 billion-plus in cash-flow needs during fiscal 1993.

Treasurer Kay Bailey Hutchison yesterday said the new IRS accounting regulations, which took effect June 17 and could change the way the state calculates its cash-flow needs, redefine when a transfer from the general fund is actually spent.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.