SB2606: Educational Facilities Revolving Loan Fund Program; provide for DFA to receive payments on approved loans from.
Legislative Summary
An Act To Authorize The Department Of Finance And Administration To Receive Repayments On Approved Loans From The Educational Facilities Revolving Loan Fund Program; To Direct The Department Of Education To Provide The Department Of Finance And Administration With All Educational Facilities Revolving Loan Fund Program Terms Of Repayment And Balances Owed From School Districts; To Direct The Department Of Finance And Administration To Deposit Those Repayments Into The Education Enhancement Fund; To Provide That, If A School District Is In Arrears On Loan Repayments, The Department Of Education Shall Remit The Amount Owed To The Department Of Finance And Administration And Shall Withhold That Amount From Future Payments Of Total Funding Formula Funds To The School District; To Direct The State Treasurer, In Conjunction With The State Fiscal Officer, To Transfer To The Education Enhancement Fund All Remaining Funds In The Educational Facilities Revolving Loan Fund; And For Related Purposes.
Demographic Impact
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Bill History
Amendments
House Committee Amendment No 1
Committee Amendment No 1
