Pennsylvania HB2025 establishes a fund to reimburse school districts for borrowing costs during budget impasses.

Pennsylvania HB2025 amends the Public School Code of 1949 to establish the School District Impasse Recovery Fund. This fund provides reimbursements for borrowing costs incurred by school districts during budget impasses. Eligible expenses include interest on short-term borrowing, fees for lines of credit, penalties for deferred payments, and other emergency financial measures. Reimbursements are limited to documented expenses and cannot be transferred to other purposes.

Pennsylvania HB2025 establishes a fund to reimburse school districts for borrowing costs during budget impasses.

Pennsylvania HB2025 amends the Public School Code of 1949 to establish the School District Impasse Recovery Fund. This fund provides reimbursements for borrowing costs incurred by school districts during budget impasses. Eligible expenses include interest on short-term borrowing, fees for lines of credit, penalties for deferred payments, and other emergency financial measures. Reimbursements are limited to documented expenses and cannot be transferred to other purposes.