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2022 SESSION
HB 559 School boards, local; composite index of local ability-to-pay, required local effort.
Introduced by: Israel D. O'Quinn | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Local school boards; composite index of local ability-to-pay; required local effort; adjustment in certain circumstances. Provides that in any case in which a local school board enters into a comprehensive agreement with a private entity pursuant to the Public-Private Education Facilities and Infrastructure Act of 2002 whereby the private entity finances the construction of a new public school building in the local school division through the issuance of bonds; leases the building to the local school board in an arrangement such as a certificate of participation, a double net lease, or a triple net lease; and expects the local school board to make lease payments in an annual amount that approximates or is equal to the annual debt service on such bonds, the Department of Education shall not consider 50 percent of such lease payments as capital outlay and debt service and therefore shall not subtract such payments in the biennial calculation of net local expenditures for operations or required local effort for the purpose of determining such local school division's composite index of local ability-to-pay, if so requested by the local school board.
FULL TEXT
- 01/11/22 House: Prefiled and ordered printed; offered 01/12/22 22103839D pdf
- 02/07/22 House: Committee substitute printed 22105023D-H1 pdf | impact statement
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 01/11/22 House: Prefiled and ordered printed; offered 01/12/22 22103839D
- 01/11/22 House: Referred to Committee on Education
- 02/01/22 House: Assigned Education sub: Early Childhood/Innovation
- 02/02/22 House: Subcommittee recommends reporting with substitute (8-Y 0-N)
- 02/02/22 House: Subcommittee recommends referring to Committee on Appropriations
- 02/07/22 House: Reported from Education with substitute (22-Y 0-N)
- 02/07/22 House: Committee substitute printed 22105023D-H1
- 02/07/22 House: Referred to Committee on Appropriations
- 02/07/22 House: Assigned App. sub: Elementary & Secondary Education
- 02/09/22 House: Subcommittee recommends laying on the table (8-Y 0-N)
- 02/15/22 House: Left in Appropriations