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1 New Section; The State and Its Government; State Bonds; Bonds Issued for School Education Funding. Amend RSA 6-A by inserting after section 14 the following new section:
6-A:15 Bonds Issued for School Education Funding.
I. Notwithstanding any provision of law to the contrary, the state treasurer shall issue bonds to fund public schools with such terms and conditions as may be determined by the governor and executive counsel, in accordance with RSA 6-A:2.
II. Such bonds shall be issued in amounts sufficient to, but not greater than necessary to, assist with or assure adequate funding for public schools in this state. The net proceeds from sales of such bonds shall be deposited into the education trust fund established in RSA 198:39.
III. Upon a reasonable notice and request by an appropriate state authority, each school administrative unit shall timely submit to appropriate state authorities all information reasonably necessary to establish statewide base education adequacy aid payments, which shall include written documentation detailing the total average daily student membership in residence, the total school budget for the school year, and all other documents that may be reasonably required. All documents submitted shall be subject to a public audit and review to establish their accuracy and relevance.
IV. Nothing in this section shall preclude or limit any municipality, town, or unincorporated place from issuing bonds or warrants for this or a substantially similar purpose.
2 Effective Date. This act shall take effect upon its passage.
Text to be added highlighted in green.
1 New Section; The State and Its Government; State Bonds; Bonds Issued for School Education Funding. Amend RSA 6-A by inserting after section 14 the following new section:
6-A:15 Bonds Issued for School Education Funding.
I. Notwithstanding any provision of law to the contrary, the state treasurer shall issue bonds to fund public schools with such terms and conditions as may be determined by the governor and executive counsel, in accordance with RSA 6-A:2.
II. Such bonds shall be issued in amounts sufficient to, but not greater than necessary to, assist with or assure adequate funding for public schools in this state. The net proceeds from sales of such bonds shall be deposited into the education trust fund established in RSA 198:39.
III. Upon a reasonable notice and request by an appropriate state authority, each school administrative unit shall timely submit to appropriate state authorities all information reasonably necessary to establish statewide base education adequacy aid payments, which shall include written documentation detailing the total average daily student membership in residence, the total school budget for the school year, and all other documents that may be reasonably required. All documents submitted shall be subject to a public audit and review to establish their accuracy and relevance.
IV. Nothing in this section shall preclude or limit any municipality, town, or unincorporated place from issuing bonds or warrants for this or a substantially similar purpose.
2 Effective Date. This act shall take effect upon its passage.