HF 960

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; clarifying the effect of the 
  1.3             receipt of certain state aids; amending Minnesota 
  1.4             Statutes 1994, section 124.95, by adding a subdivision.
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1994, section 124.95, is 
  1.7   amended by adding a subdivision to read: 
  1.8      Subd. 7.  [EFFECT OF RECEIPT OF CERTAIN AIDS.] The receipt 
  1.9   of aid under this section, section 273.1398, or any other law 
  1.10  used to pay debt service for repayment of the principal and 
  1.11  interest on school district bonds shall not for any purpose 
  1.12  constitute the financing of a project in whole or in part by 
  1.13  state funds. 
  1.14     Sec. 2.  [EFFECTIVE DATE.] 
  1.15     Section 1 is effective retroactive to July 1, 1992.