Pennsylvania HB2092 mandates school districts to reduce their debt by lowering their millage rate and using funds for debt repayment.
HB2092 amends the Public School Code of 1949 to require school districts to lower their millage rate as they reduce debt. This applies to debt incurred for projects eligible for reimbursement by the Commonwealth. Districts receiving funds for approved construction projects must use these funds to pay down related debt. The act takes effect 60 days after enactment.
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