ID S1272

Increases the per school district guarantee limit under the credit enhancement program from $20 million to $40 million in principal amount of outstanding bonds.

Increases the aggregate amount made available from the public school endowment fund from $200 million to $300 million for purchasing notes under the program.

Requires the endowment fund investment board to promulgate rules establishing application materials, procedures, submission deadlines, and review/approval timelines (not to exceed 20 days) for school districts seeking credit enhancement.

Maintains existing protections for bonds issued prior to July 1, 2007, that exceeded the previous $20 million limit and allows consolidated school districts to combine the maximum limits of each participating district.

Declares an emergency effective date upon passage and approval.