2012 House Bill 5569 ↩

Senate Roll Call 582: Passed

To increase the level of borrowing from the state that school districts and local governments can use to cover “deficit spending” that exceeds their current revenues. Under current law, the state can only lend $5 million for this each year, and locals can borrow just $3 million. Under this and the other bills in a package comprised of House Bills 5566 to 5570, the state lending limit would increase to $85 million for the period through 2018, and the maximum amount a local government or school district could borrow would increase to $20 million.