|
|
|
|
|
|
|
|
131st MAINE LEGISLATURE |
|
|
LD 1472 |
|
LR 1569(03) |
|
|
|
Resolve,
Directing the Department of Education and the Maine Municipal Bond Bank to
Amend Their Rules Regarding the Maine School Facilities Finance Program and
the School Revolving Renovation Fund |
|
Fiscal Note for
Bill as Engrossed with:
C "A" (S-238) |
|
Committee: Education and Cultural Affairs |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fiscal Note |
|
|
|
|
|
|
|
Increases maximum total loans issued - School Revolving
Renovation Fund
Increases maximum loan amount issued per priority - School Revolving
Renovation Fund |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
Increasing the
maximum amount of total loans from the School Revolving Renovation Fund for
repairs, renovations and improvement projects for school buildings that may
be outstanding at one time from $4.0 million to $8.0 million will increase
the amount of funding available for eligible priority projects. According to the Department of Education,
the current balance in the Fund is $7.824 million. Increasing the maximum loan amount for each
priority project from $1.0 million to $2.0 million may reduce the number of
projects that can be funded. |
|
Additional costs
to the Maine Municipal Bond Bank and the Department of Education associated
with rule making can be absorbed within existing budgeted resources. |
|
|
|
|
|
|
|