HR 1430 · 107th Congress · Education
Building, Renovating, Improving, and Constructing Kids' Schools Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Education Reform.(2001-06-20)
Plain Language Summary
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Building, Renovating, Improving, and Constructing Kids' Schools Act - Directs the Secretary of the Treasury to make amounts in the Treasury stabilization fund available to States for loans for school construction bond interest payments and related support. Requires States to use at least 50 percent of such funds for loans to enable State, regional, or local entities to make annual interest payments on certain qualified school construction bonds they issue. Allows States to use up to 50 percent of such funds to support State revolving fund programs or other State-administered programs that assist such entities to pay for certain construction, rehabilitation, repair, or acquisition costs, with priority for projects for schools with the greatest need. Sets forth requirements for loan repayment and interest rate. Exempts a State from repayment and interest rate accrual before January 1, 2007, unless the amount appropriated to carry out assistance for education of all children with disabilities under the Individuals with Disabilities Education Act for any fiscal year before FY 2007 is sufficient to fully fund such assistance for the fiscal year at the originally promised level, which wo…
Summarized by Claude AI · Non-partisan · For informational purposes only