This bill amends RSA 198:20-d to allow school districts and cities with dependent school districts to incur debt through reimbursement anticipation notes, specifically in anticipation of funds under RSA 186-C:18 and RSA 198:42. The governing body of the school district may borrow these funds after a public hearing and notify the commissioner of the department of revenue administration about the amount to be recognized as revenue for property tax rate setting purposes. A key insertion in the bill stipulates that the proceeds from such borrowing must only be used for the same purpose as the anticipated funds.

Additionally, the bill exempts any borrowing under this section from the debt limit provisions outlined in RSA 33. This change aims to provide school districts with greater flexibility in managing their finances while ensuring that borrowed funds are utilized appropriately. The act will take effect immediately upon its passage.

Statutes affected:
Introduced: 198:20-d
HB1495 text: 198:20-d