Kentucky HB 141: AN ACT relating to the emergency revolving school loan fund account, making an appropriation therefore, and declaring an emergency. Amend KRS 160.599 to remove eligibility criteria for a loan from the emergency revolving school loan fund account; provide loan eligibility for a school district with a significant revenue shortfall due to circumstances beyond the district's control or other extraordinary financial circumstances; reduce the maximum loan term from 10 to 5 years; increase the maximum loan amount from $250,000 to $500,000; authorize the Kentucky Board of Education to promulgate administrative regulations regarding the loan process; direct the Kentucky Department of Education to monitor loans made from the emergency revolving school loan fund account and provide the Interim Joint Committee on Appropriations and Revenue a financial report by October 1 each year; amend KRS 157.330 to specify that any unexpended SEEK funds shall not lapse and shall be transferred to the emergency revolving school loan fund account; APPROPRIATION; EMERGENCY.

Status: Returned to Appropriations & Revenue (S) (as of 2018-04-02)

State: Kentucky · Session: 2018RS · Bill: HB 141

Sponsors: C. Fugate, J. Blanton, J. Carney, R. Huff, T. Couch

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