Unexpected billing-related error with unusual phrasing after `/deploy` attempt

[malloc-error]

I attempted /deploy and got this slightly cryptic error, despite the fact that the project has a billing account attached and the gcloud CLI and web console confirmed that billing is enabled:
"Error deploying folder to Cloud Run: The billing account for the owning project is disabled in state absent"

[steren]

Can you check if you can deploy to Cloud Run in this project using the gcloud CLI.

For example gcloud run deploy test --image gcr.io/cloudrun/hello