HB 2038 -- School Building Revolving Fund

Co-Sponsors:  Bartle, Kelley (47)

This bill changes the School Building Revolving Fund from a
lease purchase to a loan and grant basis.  The bill removes the
requirement for a school district to have less than the average
assessed valuation to be eligible for a loan and reduces the
required level of bonded indebtedness from 90% to 85%.  The
ranking for applications currently gives second priority to
districts with a cumulative growth of 12%; the bill changes this
to 5%.  The bill adds statewide bond issues and federal funding
to the sources of moneys for the revolving fund.