PUBLIC Law, Chapter 153, An Act To Amend the Laws Concerning the School Revolving Renovation Fund

An Act To Amend the Laws Concerning the School Revolving Renovation Fund

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 30-A MRSA §6006-F, sub-§3, ¶A, as amended by PL 2001, c. 439, Pt. OOOO, §2, is further amended to read:

A. To make loans to school administrative units for school repair and renovation.

(1) The following repair and renovation needs receive first priority Priority 1 status:

(a) Repair or replacement of a roof on a school building;

(b) Bringing a school building into compliance with the federal Americans with Disabilities Act, 42 United States Code, Section 12101 et seq.;

(d) Removing asbestos from or abating asbestos hazardous materials in a school building; and

(f) Undertaking other health, safety and compliance repairs.

(2) Repairs and improvements not related to health, safety and compliance repairs receive 2nd priority status. Those repairs and improvements are limited to a school building structure, windows and doors and to a school building water or septic system systems receive Priority 2 status.

(3) Upgrade of learning spaces in school buildings and small-scale capital improvements receive 3rd priority status. Repairs and improvements related to energy and water conservation receive Priority 3 status.

(4) The Commissioner of Education may approve other necessary repairs. Upgrades of learning spaces in school buildings receive Priority 4 status.

(5) After the total amount appropriated, allocated and repaid to the fund exceeds $75,000,000, loans may be provided for 2nd priority status, 3rd priority status or other necessary repairs, improvements and upgrades, with approval of the The Commissioner of Education , based on rules adopted under this section, as long as the Commissioner of Education determines that substantial progress has been made in addressing may approve other necessary repairs and renovations with first priority status;

Sec. 2. 30-A MRSA §6006-F, sub-§3, ¶B, as amended by PL 1999, c. 81, §16, is further amended to read:

B. To make loans to a school administrative unit to finance expenditures incurred after June 1, 1998 for repairs or renovations authorized under paragraph A and certified under subsection 5;

Sec. 3. 30-A MRSA §6006-F, sub-§3, ¶C, as enacted by PL 1997, c. 787, §13, is amended to read:

C. To guarantee or insure, directly or indirectly, the payment of notes or bonds issued or to be issued by a school administrative unit for the purpose of financing any repair authorized under paragraph A and certified under subsection 5;

Sec. 4. 30-A MRSA §6006-F, sub-§3, ¶E, as enacted by PL 1997, c. 787, §13, is amended to read:

E. To deposit with a lending institution or with a trustee bank , available fund balances to offset loan balances for school administrative districts undertaking projects authorized by paragraph A and certified under subsection 5;

Sec. 5. 30-A MRSA §6006-F, sub-§3, ¶G, as amended by PL 2005, c. 683, Pt. A, §53, is further amended to read:

G. To invest as a source of revenue or security for the payment of principal and interest on general or special obligations of the bank if the proceeds of the sale of the obligations have been deposited in the fund, or if the proceeds of the sale of the obligations are used for the purposes authorized in paragraph A and certified under subsection 5, or as a source of revenue to subsidize the school administrative unit loan payment obligations;

Sec. 6. 30-A MRSA §6006-F, sub-§3, ¶J, as enacted by PL 2005, c. 272, §2, is amended to read:

J. To reimburse school administrative units for costs incurred for first priority Priority 1 status health and safety projects described in paragraph A, subparagraph (1) and approved by the Commissioner of Education. The amount of the reimbursement must be determined in accordance with the school administrative unit's state share percentage as provided in subsection 6 , paragraph A.

Sec. 7. 30-A MRSA §6006-F, sub-§6, as amended by PL 2005, c. 2, Pt. D, §65 and affected by §§72 and 74 and c. 12, Pt. WW, §18, is further amended to read:

6. Forgiveness of principal payments. The fund must provide direct grants by forgiving the principal payments of a loan for an eligible school administrative unit. The amount of the forgiveness of principal payments must be determined by the school administrative unit's state share percentage as determined in Title 20-A, section 15672, subsection 31, not to exceed : 70% and not less than 30%.

A. Seventy percent and no less than 30% for health, safety and compliance;

B. Seventy percent and no less than 30% for repairs and improvements; and

C. Seventy percent and no less than 30% for learning space upgrades.

Effective 90 days following adjournment of the 125th Legislature, First Regular Session, unless otherwise indicated.

SP0419 LD 1356	PUBLIC Law, Chapter 153 Signed on 2011-05-26 00:00:00.0 - First Regular Session - 125th Maine Legislature
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