Legislative Session number- 81

Bill Name: SF3165

Relating to education; modifying the school district debt service equalization
program, providing for enhanced debt service equalization revenue and aid, for
subtraction of the enhanced revenue from the debt service equalization revenue
formula and for the inclusion of the enhanced aid in the debt service
equalization aid formula; requiring districts to levy for the enhanced revenue,
formula; limiting the state total enhanced debt service equalization aid,
requiring the commissioner of children, families and learning to prioritize
eligible projects under certain excess conditions; excluding the capital loan
levy from the required debt service levy under the maximum effort school aid
law; modifying the maximum effort debt service levy relating to receipt of debt
service loans between certain dates; defining capital loan levy for capital
loans issued after a certain date, requiring annual certification by the
commissioner of finance to the commissioner of children, families and learning;
modifying eligibility for the loans and certain conditions for a positive review
and comment by the commissioner of children, families and learning; modifying
the formula for determining loan limits; eliminating the legislative approval
requirement for the loans; providing for payment on capital loans approved after
a certain date, requiring payment of debt service aid attributable to the
capital loan levy to the loan repayment account of the maximum effort school
loan fund; modifying the limit on school district net debt (mk)