1.1                          A bill for an act 
  1.2             relating to education finance; creating a revolving 
  1.3             loan fund for school district emergency fuel 
  1.4             assistance; appropriating money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [SCHOOL DISTRICT EMERGENCY FUEL ASSISTANCE 
  1.7   REVOLVING LOAN FUND.] 
  1.8      Subdivision 1.  [REVOLVING LOAN FUND.] A revolving loan 
  1.9   fund is created for the purpose of addressing the escalating 
  1.10  fuel needs of school districts.  A loan under this subdivision 
  1.11  may not be made until the commissioner of children, families, 
  1.12  and learning certifies to the commissioner of finance that the 
  1.13  requirements under subdivisions 2 to 4 have been met. 
  1.14     Subd. 2.  [DIRECTION TO COMMISSIONER.] By July 1, 2001, the 
  1.15  commissioner of children, families, and learning must certify 
  1.16  the heating fuel costs for school facilities and the fuel costs 
  1.17  for transporting pupils for each school district for the 
  1.18  1999-2000 school year. 
  1.19     Subd. 3.  [SCHOOL DISTRICTS.] Each school district may 
  1.20  submit its actual heating fuel costs for school facilities and 
  1.21  its actual fuel costs for transporting pupils for the 2000-2001 
  1.22  school year to the commissioner. 
  1.23     Subd. 4.  [FUEL COST.] The commissioner must calculate the 
  1.24  difference between the 2000-2001 actual heating fuel and 
  1.25  transportation fuel costs under subdivision 3 and the certified 
  2.1   1999-2000 heating fuel and transportation fuel costs under 
  2.2   subdivision 2. 
  2.3      Subd. 5.  [LOAN REPAYMENT.] Each school district that 
  2.4   receives a loan under this section must repay the loan by June 
  2.5   30, 2003.  Interest is payable on the loan at the rate earned by 
  2.6   the state on invested treasurer's cash, as determined monthly by 
  2.7   the commissioner of finance.  Repayments must be deposited into 
  2.8   the general fund. 
  2.9      Subd. 6.  [REPORT.] Each school district receiving a loan 
  2.10  under this section must report to the commissioners of finance 
  2.11  and children, families, and learning within 60 days of receiving 
  2.12  the loan.  The report must include a statement of how the funds 
  2.13  were used to alleviate escalating fuel costs. 
  2.14     <b>[EFFECTIVE DATE.]</b> This section is effective July 1, 2001.  
  2.15     Sec. 2.  [APPROPRIATION.] 
  2.16     (a) $30,000,000 is appropriated from the general fund to 
  2.17  the commissioner of finance for the fiscal biennium ending on 
  2.18  June 30, 2003, to capitalize a fund to make loans to school 
  2.19  districts for emergency fuel assistance. 
  2.20     (b) Any balance remaining on June 30, 2003, must be 
  2.21  returned to the general fund. 
  2.22     <b>[EFFECTIVE DATE.]</b> This section is effective July 1, 2001.