05/07/1998 08:15 PM House FIN

SENATE BILL NO. 11                                                             
                                                                               
"An Act relating to state aid for school construction                          
debt; and providing for an effective date."                                    
                                                                               
Co-Chair Hanley advised that the current version of SB 11                      
was similar to SB 7 from two years prior, and that it would                    
address bond debt reimbursement for specific school                            
districts.  He noted that the total amount was $250 million                    
dollars of State general funds, with a $357 million dollar                     
total project cost, which would amount to a 70/30 match.                       
School district costs would be retroactive to FY95.  He                        
added that the legislation proposes to return to the school                    
districts, bonds which were not reimbursed.                                    
                                                                               
Co-Chair Hanley noted that the bill would be HELD in                           
Committee for further consideration.