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SB21-157

Increase Cap Charter School Moral Obligation Bonds

Concerning an increase in the aggregate amount of qualified charter school bonds for which the general assembly may appropriate money to restore debt service reserve requirements.
Session:
2021 Regular Session
Subjects:
Capital Construction
Education & School Finance (Pre & K-12)
Bill Summary

Under current law, if the Colorado educational and cultural facilities authority has issued qualified charter school bonds for a charter school that fails to immediately restore its qualified charter school debt service reserve fund (reserve fund) to the applicable reserve fund requirement, the general assembly may, but is not required to, appropriate money to restore any or all reserve fund requirements. The general assembly may appropriate money to restore reserve fund requirements for an aggregate outstanding principal amount of bonds not to exceed $500 million. The bill increases the cap for the aggregate outstanding principal amount of qualified charter school bonds for which the general assembly may restore reserve fund requirements to $750 million.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/15/2021 Signed Act PDF
    04/07/2021 Final Act PDF
    04/06/2021 Rerevised PDF
    04/05/2021 Revised PDF
    03/23/2021 Reengrossed PDF
    03/22/2021 Engrossed PDF
    03/01/2021 Introduced PDF