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MN SF2726

Bill

Official Source

Status

Introduced

3/14/2016

Primary Sponsor

Jeremy Miller

Click for details

Origin

Senate

89th Legislature 2015-2016

AI Summary

  • Extends the deadline for school districts to make early repayment of maximum effort capital loans from July 1, 2012 to July 1, 2017
  • Expands eligibility to include school districts that received maximum effort capital loans prior to January 1, 2007 (previously January 1, 1997)
  • Allows eligible school districts to repay the full outstanding original principal and have their loan liability satisfied and discharged with interest ceasing
  • For loans repaid after July 1, 2012, the repayment amount equals the full outstanding original principal minus any interest already paid by the school district to the state
  • Takes effect the day following final enactment

Legislative Description

Maximum effort capital loans additional early repayments authorization

Last Action

Withdrawn and re-referred to Finance

3/23/2016

Committee Referrals

Finance3/23/2016
Education3/14/2016

Full Bill Text

No bill text available