credit enhancement eligibility board; continuation
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
Senate Bill 1422 extends the existence of the Credit Enhancement Eligibility Board. The board currently assists public schools in securing better financing terms. However, the board will automatically terminate on July 1, 2036, unless certain conditions are met regarding outstanding program funding obligations and guaranteed financings. If those conditions aren’t met by January 1, 2037, the board’s related sections will be repealed.
Key provisions
- Extends the Credit Enhancement Eligibility Board's operation.
- Sets a termination date for the board of July 1, 2036.
- Specifies conditions for the board’s continued existence until January 1, 2037.
- Outlines the process for repeal of the board’s related sections if conditions aren’t met.
- The board’s continuation is linked to the status of public school financing obligations.
Who is affected
- Public Schools
- State Government
- Bond Investors
Notable changes
- The bill extends the current operation of the Credit Enhancement Eligibility Board.
- It establishes a clear termination date for the board, contingent on specific financial conditions.
Bill text
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Sponsors
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1 on record
Primary sponsor
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