| 122nd MAINE LEGISLATURE | |||||||||
| LD 1454 | LR 0550(02) | ||||||||
| An Act To Amend the Laws Regarding the School Revolving Renovation Fund | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Education and Cultural Affairs | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Potential future biennium savings - Other Funds | |||||||||
| Fiscal Detail and Notes | |||||||||
| This legislation would provide for the reimbursement of funds from the School Revolving Renovation Fund to school administrative units for the amount that the school unit would have had forgiven if the school unit had received a loan from the Fund for a qualified first priority status health and safety project, but instead funded the project with other funds. The amount can not be determined at this time. Current law allows for the forgiveness of a percentage of principal payments based on the purpose of the loan and the school administrative unit's state share percentage of debt service costs. | |||||||||