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School Loan Revolving Fund Changes Act 437 of 2012

January 29, 2013

The long debated changes to the State law implementing the School Bond Qualification and Loan Act were enacted in December as part of the Legislature's lame duck session, and became effective on December 27, 2012, as Public Act 437 of 2012 (SB 770).

Key provisions of Act 437 affect all school districts with debt qualified for participation in the School Loan Revolving Fund and those who are contemplating issuing or seeking voter approval for such debt in the future (though the impact on those districts who do not expect to borrow from the Fund is much less extensive):

Amanda Van Dusen

Thomas D. Colis

Harold W. Bulger

Christopher J. Dembowski