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OH HB447
Bill
Status
2/12/2014
Primary Sponsor
Matthew Lynch
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AI Summary
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Permits consolidated school districts or those receiving voluntary territory transfers to apply for loans up to $10 million from the Ohio School Facilities Commission for constructing new classroom facilities.
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Requires eligible districts to meet specified conditions: located in same county with population under 100,000, each district had fewer than 1,700 students before consolidation, and neither district previously received state assistance under the school facilities chapter.
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Requires the Department of Education, in consultation with the Ohio School Facilities Commission and Auditor of State, to conduct a study determining the district can repay the loan within 15 years using up to 80% of consolidation savings.
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Districts must submit information including effective tax rate, description of buildings closed from consolidation, and teacher and staffing levels to support loan applications.
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Appropriates $10 million from the General Revenue Fund for fiscal year 2015 to establish the Consolidated District Loan Program.
Legislative Description
To permit a school district resulting from the consolidation of two or more school districts or from the voluntary transfer of the entire territory of a school district to receive a loan from the Ohio school facilities commission for the construction of a new facility to support the consolidated district if specified conditions are satisfied, and to make an appropriation.
Consolidated school district-loan to construct facility for district
Last Action
Committee Report - S
4/2/2014