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Sponsor Statement for HB 451
Municipal Bond Reimbursement

An Act relating to municipal bond reimbursement for school construction; and providing for an effective date.

HB 451 corrects the disparity in statute between grant proposals and bond reimbursement for school construction. Currently statute requires the presentation of a preventative maintenance plan when reviewing school construction grant proposals, but there is no such requirement for bond reimbursement. HB 451 would correct this disparity to require a preventative maintenance plan in bond reimbursement proposals.

• Sec. 1 - Amends AS 14.11.100(a)(8) to appropriately renumber statute sections for the inclusion of the new language.
• Sec. 2 - Amends AS 14.11.100(a)(10) to appropriately renumber statute sections for the inclusion of the new language.
• Sec. 3 - Amends AS 14.11.100(j) to appropriately renumber statute sections for the inclusion of the new language and includes the substantive language that establishes the requirement for a preventative maintenance plan and defines the constituent components of such a plan.
• Sec. 4 - Provides for the effective date under AS 01.10.070(c)

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