DFL lawmakers urge repayment of money state borrowed from schools - Bring Me The News

DFL lawmakers urge repayment of money state borrowed from schools

State Sen. Kate Sieben and Rep. Ryan Winkler say changes in the corporate tax could raise enough money for Minnesota to repay the $2.2 billion it borrowed from its schools in five or six years. They say the accounting shift has squeezed schools that are having to pay borrowing costs.
Author:
Updated:
Original:

State Sen. Kate Sieben and Rep. Ryan Winkler say changes in the corporate tax could raise enough money for Minnesota to repay the $2.2 billion it borrowed from its schools in five or six years. They say the accounting shift has squeezed schools that are having to pay borrowing costs.

Next Up

Related

Republicans want to use state budget reserve to pay off debt to schools

Minnesota has borrowed more than $2 billion from its schools to cover recent budget deficits. A group of Republicans says now that the economy is stronger the state should pay off that debt with money in reserve. But Governor Mark Dayton says raiding the reserve fund could leave the state vulnerable if the economy heads south again.