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ND SB2398
Bill
Status
10/25/2023
Primary Sponsor
Legislative Management
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AI Summary
SB2398 Summary
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Modifies baseline funding calculations for state school aid, changing the reduction percentage for 2023-24 school year to 40% and increasing the reduction by 15% annually thereafter, with minimum payments of $10,646 per weighted student unit for 2023-24 and $11,072 for 2024-25 and beyond.
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Increases maximum coal development trust fund loan amounts from $2 million to $5 million for school districts; allows loans for unanticipated construction inflation during the 2023-25 biennium for projects bid between January 1, 2021 and June 30, 2024.
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Establishes that coal development trust fund loans can be payable solely from a school district's oil and gas gross production tax allocation without constituting a general obligation debt, with state treasurer withholding required for repayment.
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Appropriates $3,000,000 from the general fund to the Department of Public Instruction for integrated formula payments for the 2023-2025 biennium.
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Applies retroactively to July 1, 2023, with one section effective July 1, 2024.
Legislative Description
Baseline funding and the determination of state school aid, loans from the coal development trust fund, and evidences of indebtedness; to provide an appropriation; to provide for retroactive application; and to provide an effective date.
Last Action
Filed with Secretary Of State 10/25
10/30/2023