Introduced
by
To increase from $50 million to $100 million the amount allocated through 2018 for “financial emergency” loans from the state to public school districts.
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.
Amendment offered
To eliminate a tie-bar to Senate Bill 956, meaning this bill can still become law if that one does not. SB 956 would revise details of a law that allows the state to loan money to a public school district that has a deficit and an approved plan to eliminate it. Also, to add a tie-bar to Senate Bill 957, which prescribes actions for a school district in a “condition of fiscal stress, a deficit, or a potential financial emergency”.
The amendment passed by voice vote
Passed in the Senate 37 to 1 (details)
To increase from $50 million to $100 million the amount allocated through 2018 for “financial emergency” loans from a state loan board to public school districts. Also, to increase from $35 million to $85 million the amount of such loans to cities, townships, villages, and counties. Finally, the bill would eliminate restrictions on this loan board's ability to restructure repayments on existing emergency municipal loans.
Referred to the Committee on Financial Liability Reform
Reported without amendment
Without amendment and with the recommendation that the bill pass.
