Sec. 14. (a) As used in this section, “deficit financing” means making expenditures that exceed the money legally available to an employer in any budget year.

     (b) An employer may not enter into an agreement under section 12 of this chapter that will place the employer in a position of deficit financing. An agreement is voidable to the extent that an employer must engage in deficit financing to comply with the agreement.

As added by P.L.48-2007, SEC.1.