Honorable Larry Taylor, Chair, Senate Committee on Education
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1568 by Lucio (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
No fiscal implication to the State is anticipated.
The bill would increase the maturity period for an interest-bearing time warrant issued by a school district from 15 to 20 years. The bill would increase the limit on the total amount of a district's outstanding time warrants from $1 million to $2 million.
Local Government Impact
School districts would have greater flexibility with regard to borrowing funds.