Introduced
by
To remove the June 30, 2016 sunset on a $1.8 billion limit on the amount of outstanding "School Bond Loan Program" debt. This program essentially lets school districts borrow at rates determined by the state's credit rating, by having the state in effect guarantee this debt. The bill would also require additional ballot language disclosures in school debt millage elections, eliminate a minimum millage rate required for a school to qualify for this benefit and more.
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 26 to 11 (details)
Referred to the Committee on Financial Liability Reform
