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SB 64 - Amends School Bond Debt Reimbursement - Alaska Key Vote

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Title: Amends School Bond Debt Reimbursement

Vote Smart's Synopsis:

Vote to pass a bill that prohibits school bond debt reimbursement until 2020 and reduces school bond debt reimbursement after 2020, effective retroactively to January 1, 2015.

Highlights:

  • Prohibits the Bond Reimbursement and Grant Review Committee from recommending for approval an application for school construction or maintenance bond debt reimbursement made by a municipality between January 1, 2015, and July 1, 2020 (Sec. 1).
  • Prohibits the commissioner of Education and Early Childhood Development from approving applications for, or allocating funds to, a municipality for the purposes of school construction or maintenance bond debt reimbursement between January 1, 2015, and July 1, 2020 (Secs. 4 & 5).
  • Reduces school construction and maintenance bond debt reimbursement from a range of 60 to 70 percent to a range of 40 to 50 percent, for bonds and debts approved beginning July 1, 2020 (Secs. 2 & 3).

NOTE: THIS CHAMBER'S SUBSEQUENT VOTE ON WHETHER TO ADOPT THE EFFECTIVE DATE DID NOT RECEIVE A TWO-THIRDS MAJORITY; THE BILL WILL THEREFORE BECOME EFFECTIVE 90 DAYS AFTER ITS ENACTMENT.

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