How long can districts count on state aid under Chapter 46?
The statute guarantees IFA state aid for the life of the debt in Section 46.003(g). This section states that [u]nil the bonds are fully paid or the instructional facility is sold, (1) a school district is entitled to continue receiving state assistance without reapplying to the commissioner . . .[emphasis added]. The intent is further stated in Section 46.009(a) when it mentions that the commissioner shall determine the amount of money to which each district is entitled under this chapter [emphasis added]. In order to qualify for funding, the debt service must be repaid over at least eight years.
