Introduced
by
To extend by one-month the date that notes would be due when school districts borrow school operations money in anticipation of state school aid. Under current law, school districts are allowed to pledge money to be received from state school aid for the payment of notes issued. The notes must be repaid within 12 months; the bill would change this to 13 months.
Referred to the Committee on Education
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 105 to 0 (details)
To extend by one-month the date that notes would be due when school districts borrow school operations money in anticipation of state school aid. Under current law, school districts are allowed to pledge money to be received from state school aid for the payment of notes issued. The notes must be repaid within 12 months; the bill would change this to 13 months.
Referred to the Committee on Education
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that extends the payback period to 372 days, not 13 months.
The substitute passed by voice vote
Passed in the Senate 37 to 0 (details)
To extend the date that notes would be due when school districts borrow school operations money in anticipation of state school aid. Under current law, school districts are allowed to pledge money to be received from state school aid for the payment of notes issued. The notes must be repaid within 12 months; the bill would change this to 372 days months.
Passed in the House 106 to 0 (details)
To concur with the Senate-passed version of the bill.
