The Senate yesterday approved draft legislation which seeks to ensure that Tourism Enhancement Fund (TEF) funds are placed in the Consolidated Fund.
The consolidated fund is essentially the government’s bank account.
The bill also proposes to allow for financial resources from the Jamaica Civil Aviation Authority (JCAA) and the Culture, Health, Arts, Sports and Education, CHASE fund, to be placed in the consolidated fund.
The bill was piloted in the Upper House this afternoon by Government Senate Leader, Kamina Johnson Smith.
Opposition Senate Leader, Mark Golding, noted that the bill seeks to help Jamaica meet structural benchmarks under the crucial IMF agreement.
However, he expressed concern about the potential impact on the cash flow of the respective agencies.
The bill was approved in the House of Representatives on July 11.
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