Bill > A4828

This bill amends existing law to lower the required threshold for school districts to achieve savings when refinancing their outstanding debt, a condition for receiving state aid. Previously, school districts were required to refinance debt if they could achieve a three percent net present value savings, meaning the future savings from refinancing were at least three percent of the debt's current value. This bill reduces that requirement to a two percent net present value savings threshold, making it easier for school districts to refinance and potentially realize cost savings sooner.