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SB 1712 — Postsecondary Revenue Bonds and Debt

by Senators Montford and Thurston

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Education Committee (ED)

The bill modifies restrictions on debt payment sources for state universities by authorizing such universities to use federal grant and contract funds to secure revenue bonds, but only as required for an institution to participate in the Historically Black College and University Capital Financing Program (HBCU Program). In effect, the bill may allow Florida Agricultural and Mechanical University to participate in the HBCU Program.

If approved by the Governor, these provisions take effect July 1, 2018.

Vote: Senate 37-0; House 114-0