SB 988 – Requires unspent school district bond proceeds to be transferred to the district's debt service fund

• Sponsor: Cierpiot
• LR Number: 4355S.01I
• Committee: Education
• Last Action: 2/24/2022 - Second Read and Referred S Education Committee
• Journal Page: S837
• Effective Date: August 28, 2022

Current Bill Summary

SB 988 - Current law requires any balance remaining in bond proceeds after completion of the project for which the bonds were issued to be transferred to the school district's debt service fund. This act provides that the projects for which the remaining balance should be transferred are the projects specified in the bond offering documents.

JAMIE ANDREWS

Amendments

No Amendments Found.