MN HF3731

Extends the repayment period for school district lines of credit from 45 days to 120 days after advancement.

Increases the maximum available credit for districts or cooperative units to four times 95 percent of average monthly operating expenditures from the previous fiscal year.

Allows school districts to issue certificates in anticipation of aid receipts, maturing no later than three months after the close of the school year in which issued.

Allows school districts to issue certificates in anticipation of tax receipts, maturing no later than three months after the close of the calendar year in which issued.

For certificates issued as taxable obligations, maturity dates are set at 12 months after the close of the school year (for aid anticipation) or calendar year (for tax anticipation) in which issued.