Establishes a revolving loan fund to assist financially distressed school districts in New Hampshire.
The bill creates a school district adequacy revolving loan fund to provide financial assistance to school districts facing insolvency. The fund will be used to issue loans to these districts, with repayment terms set by the state treasurer. The fund is financed by appropriations from the education trust fund. The commissioner of education must develop a recovery plan for insolvent districts, which requires approval from the joint legislative fiscal committee. Municipalities may also provide emergency assistance to financially distressed school districts.
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- Core Provisions
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