S.B. 757 Summary

• Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $25,000,000 to assist Le Jardin Academy, Inc. in financing or refinancing educational facilities.

• Bonds may be used for planning, designing, constructing, reconstructing, renovating, acquiring, equipping, and improving educational and education-related facilities for the nonprofit school.

• Authorizes the Department of Budget and Finance to issue refunding bonds after June 30, 2026, to refinance the authorized special purpose revenue bonds in compliance with federal tax exemption requirements.

• Authorization to issue new special purpose revenue bonds lapses on June 30, 2026.

• Takes effect on July 1, 2050.