Analysts clarify bond-levy equalization closeout after change in school bonding law
Committee staff explained that House Bill 521 closed the older bond levy equalization program and that remaining cash from the old program is to revert to the general fund; staff said the statute created a new statewide bonding approach for school districts.
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Committee members pressed Legislative Services Office staff for clarity on a line in the cash reconciliation labeled bond levy equalization closeout. Representative questions referenced a larger ongoing school-bonding program and asked whether returning $62.8 million to the general fund would interfere with planned school bond repayments.
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