HB 136 Summary

• Prohibits the state from recommending or approving school bond debt reimbursement applications for indebtedness authorized by qualified voters between May 1, 2015 and July 1, 2020.

• Creates new reimbursement categories effective July 1, 2020: 50 percent reimbursement for approved tax-exempt bonds and 40 percent for reviewed (unapproved) bonds authorized on or after July 1, 2020, for school construction and major rehabilitation projects exceeding $200,000.

• Prevents the commissioner from allocating funds under AS 14.11.100 for tax-exempt bonds, notes, or other indebtedness authorized between May 1, 2015 and July 1, 2020.

• The temporary restrictions in sections 1, 2, 4, and 5 are repealed July 1, 2020, while new reimbursement categories in section 3 take effect on that same date.

• Sections 1, 2, 4, 5, and 7 are retroactive to May 1, 2015 and take effect immediately.