N.J. School Districts Could Use Promissory Notes, Bill Propose

Braun, Martin Z.
May 2003
Bond Buyer;5/5/2003, Vol. 344 Issue 31628, p4
Trade Publication
Two legislative bills to be introduced in the New Jersey legislature on May 5, 2003 would allow school districts to execute promissory notes to cover budget gaps created by the state's decision to delay aid payment to school districts. The state is delaying final aid payments totaling about 300 million dollars to July 7, 2003 which is after the beginning of fiscal 2004, in order to help balance the fiscal 2003 budget. Edwina Lee, executive director of the New Jersey School Boards Association, called the state's plan to delay the final aid payment, both in 2003 and 2004. In a poll of 183 districts by the New Jersey School Boards Association, 26 districts said they would have to borrow to cover the delayed payment. New Jersey has more than 600 school districts.


Related Articles

  • Tex. House Acts on Its Own To Adopt Finance Plan. Lonnie Harp // Education Week;5/26/1993, Vol. 12 Issue 35, p15 

    The article reports that the Texas House of Representatives has passed a bill giving wealthy school districts a list of options on how to reduce their property-tax base. The options stated in the finance plan are: merge tax bases, send money to poor districts by buying attendance credits,...

  • N.J. Senate Approves Bill To Divert School Funding. Weisman, Jonathan // Education Week;3/13/1991, Vol. 10 Issue 25, p31 

    The article reports on the approval of a revised finance reform bill by the New Jersey legislature. The bill would divert $350 million from school aid to property-tax relief. It has been estimated that of the amount going to tax relief, about $120 million would come from transition aid...

  • N.Y. Legislature to Pass Bill on Tax Increment Finance. Phillips, Ted // Bond Buyer;6/17/2008, Vol. 364 Issue 32901, p25 

    The article reports that the New York Legislature is to pas a bill that would overcome the prevented tax increment financing (TIF) from being widely used in the state. The Legislature took up the measure as the fiscal 2008 legislative session neared its end on June 23, 2008. Under the proposed...

  • Ohio Schools Given Say on Tax-Abatement Policies. Schmidt, Peter // Education Week;12/5/1990, Vol. 10 Issue 14, p15 

    The article reports on the Ohio legislature's approval to a legislative bill that would authorize school districts to participate in local decisions to approve property tax exemptions to attract business development. The requires city and county governments to consult from affected districts...

  • IMF Negotiations Mired In Paraguay.  // Emerging Markets Monitor;12/2/2002, Vol. 8 Issue 32, p9 

    Reports that the political conflict in Paraguay has blocked the passage of the Economic Transition Law, aimed at reducing the nation's budget deficit in 2002. Reason for the decision of the Congress to reject the package; Details of the conflict between the Paraguayan Congress and Senate.

  • Colorado School-Finance Landscape Remains Bleak. Walsh, Mark // Education Week;2/24/1993, Vol. 12 Issue 22, p22 

    The article reports that the finance for schools in Colorado suffered a blow when voters rejected a 1 cent sales-tax hike dedicated to public education. According to Deborah Fallin, a spokeswoman for the Colorado Education Association, schools are facing immediate cuts, not so much because of...

  • Salaries, K-12 Aid Garner Increases. Richard, Alan // Education Week;6/22/2005, Vol. 24 Issue 41, p24 

    The article focuses on the education policy in the state of Mississippi. The state leaders did not boost the K-12 education budget as much as some advocates had hoped, and Governor Haley Barbou, failed to persuade the Democratic-controlled legislature to pass many of his education proposals....

  • Colorado House Backs Bill To Cut Property Taxes. M. W. // Education Week;5/2/1990, Vol. 9 Issue 32, p16 

    The article reports on a bill that would both reduce property taxes and provide new money for the schools in Colorado. The bill, already approved by the Colorado House and awaiting action last week in the Senate, calls for school districts to change the start of their budget years to coincide...

  • LETTERS TO THE EDITOR.  // Hays Free Press (Buda, TX);3/16/2011, Vol. 107 Issue 49, p4A 

    Several letters to the editor are presented in response articles in the previous issues such as one on the budget spending of the Hays County Independent School Districts (CISD), and one on the Senate Bill 16 by Jeff Wentworth in the February 23, 2011 issue.


Read the Article


Sign out of this library

Other Topics