MS SB2606

Department of Finance and Administration authorized to receive repayments on loans from the Educational Facilities Revolving Loan Fund Program (created in 2022, repealed July 1, 2024)

Department of Education must provide DFA with all loan repayment terms and balances owed by school districts, with repayments deposited into the Education Enhancement Fund

School districts in arrears on loan repayments will have amounts owed withheld from their total funding formula payments, with DFA notifying the Department of Education of delinquent amounts

State Treasurer and State Fiscal Officer must transfer all remaining funds from the Educational Facilities Revolving Loan Fund (Fund No. 3320500000) to the Education Enhancement Fund (Fund No. 4400100000) upon effective date

Sections 1 and 2 of the act shall expire July 1, 2034, with the remainder effective upon passage