| 122nd MAINE LEGISLATURE | |||||||||
| LD 1454 | LR 0550(01) | ||||||||
| An Act To Amend the Laws Regarding the School Revolving Renovation Fund | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Goldman of Cape Elizabeth | |||||||||
| Committee: Education and Cultural Affairs | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Undetermined current biennium cost increase - Other Funds | |||||||||
| Fiscal Detail and Notes | |||||||||
| This legislation would reduce the amount of funds available in the School Revolving Renovation Fund for loans to school administrative units for school repairs and renovations. 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. This legislation would provide for 100% forgiveness for those loans that were provided for first priority health and safety projects. | |||||||||