AK HB310

Extends the deadline for authorizing school construction debt from November 30, 2010 to November 30, 2013 for tax exempt bonds under subsections (16) and (17) of AS 14.11.100(a).

Updates subsection (16) to allow 70 percent state reimbursement of principal and interest payments on tax exempt bonds authorized by qualified voters on or after October 1, 2006, but before November 30, 2013 for school construction, additions, and major rehabilitation projects exceeding $200,000.

Updates subsection (17) to allow 60 percent state reimbursement of principal and interest payments on tax exempt bonds authorized by qualified voters on or after October 1, 2006, but before November 30, 2013 for similar school projects exceeding $200,000.

Maintains all other existing provisions related to state reimbursement percentages and project requirements for school construction debt authorized in prior years.