The state board that helps public schools get more favorable financing is continued and now ends on July 1, 2036, with its program laws repealed later only once no program funding obligations or guaranteed financings remain outstanding.
Official title: credit enhancement eligibility board; continuation
- September 12, 2026
- Applies retroactively from and after July 1, 2026: Repeal of the old termination provision and the new termination and repeal rules
- July 1, 2036: Termination of the Credit Enhancement Eligibility Board
- January 1, 2037, if no program obligations or guaranteed financings remain outstanding: Repeal of the board's program laws and the termination section
- 30 days after both conditions are met, if they are not met by January 1, 2037: Repeal of the board's program laws and the termination section
What changes
BeforeThe board's termination was set by a separate provision of law, which this law repeals. The old date is not shown in this text.
NowThe Credit Enhancement Eligibility Board terminates on July 1, 2036.
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NowThe laws for the board's programs, and this termination section, are repealed on January 1, 2037, but only if 2 conditions are both met. First, the board has no outstanding program funding obligations, or the legislature has otherwise provided for paying or retiring them. Second, there are no outstanding guaranteed financings approved under the program.
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NowIf both conditions are not met on January 1, 2037, the repeal happens 30 days after both conditions are met.
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NowThe legislature states that it is continuing the board to assist public schools in obtaining more favorable financing.
Who it affects
- Public schools that seek financing through the board's programs
- Credit Enhancement Eligibility Board
- State legislature
What you need to do
Nothing.
What the law doesn't answer
- What termination date applied to the board under the provision being repealed
- What the board's programs specifically do or how schools qualify
- How many schools currently use the board's programs or how much financing is outstanding
- Whether any of the board's duties or membership change
This summary describes the law as enacted. Later laws, court rulings or referendum petitions can change the picture. Check the official text for the current wording.