2021 Senate Bill 618 ↩

House Roll Call 129: Passed

To revise details of the interest rate charged by the state to school districts if they borrow from a “school bond loan fund,” which happens when a school board authorizes more spending during a year than a district’s revenue can pay for. The bill would eliminate a 3% minimum interest rate, and a requirement that the rate be at least high enough to cover the state’s cost. The cost to the district would instead be “the annual cost of funds used to make qualified loans plus 0.125%”.