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Committee approves use of reimbursement anticipation notes as collateral for certain education funds
Summary
The Education Funding Committee approved HB1495, 10–8, allowing reimbursement anticipation notes (RANs) tied to RSA 186‑C:18 (special education aid) and RSA 198:42 (adequacy aid) to be used as collateral for the purposes for which the anticipated funds were allocated. Opponents warned the change may be impractical for small districts.
The Education Funding Committee voted 10–8 to recommend passage (OTP) of HB1495, a bill that allows school districts to use reimbursement anticipation notes (RANs) drawn against two specified state funding sources as collateral for the same purposes to which the anticipated funds are allocated.
Representative Ladd, who moved the OTP motion, said the bill permits districts to borrow from two identified “pots” of money: RSA 186‑C:18 (special education aid) and RSA 198:42 (adequacy aid). “It allows districts to…
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