Establishes a revolving loan fund for school districts to assist with cash flow in anticipation of adequacy payments.
New Hampshire HB292 establishes a school district adequacy revolving loan fund administered by the state treasury to help districts with cash flow in anticipation of adequacy payments. The fund is financed by the education trust fund and loans bear interest based on the state's borrowing cost. A quorum of the school district's governing body, the commissioner of education, and the state treasurer must agree on loan terms, which include monthly reporting requirements.
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