HF 3047

as introduced - 90th Legislature (2017 - 2018) Posted on 02/26/2018 02:28pm

A bill for an act
relating to education finance; directing the Legislative Permanent School Fund
Commission to conduct a study on school district borrowing; requiring a report.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin LEGISLATIVE PERMANENT SCHOOL FUND COMMISSION STUDY;
REPORT.
new text end

new text begin Subdivision 1. new text end

new text begin School district borrowing. new text end

new text begin The Legislative Permanent School Fund
Commission must evaluate and make recommendations to allow school districts to borrow
against the permanent school trust fund for capital purposes.
new text end

new text begin Subd. 2. new text end

new text begin Report. new text end

new text begin By January 18, 2019, the commission must report its findings to the
chair and ranking minority members of the legislative committees having jurisdiction over
environment and natural resources, kindergarten through grade 12 education, and higher
education. The report must include draft legislation, if needed.
new text end