- Associated Press - Tuesday, March 24, 2015

JUNEAU, Alaska (AP) - The Senate Finance Committee has advanced legislation that would pause state spending on new school debt.

The committee moved a bill Monday that would stop state reimbursement for school bonds authorized between January 2015 and July 2020.

Currently, the state is responsible for reimbursing municipalities for a portion of their payments for school construction and maintenance debt.

The bill would give the state a five-year break from paying off new bonds, and then reduce the amount the amount the state reimburses for new projects beginning in 2020.

Laura Pierre, an aide to committee co-chair Anna MacKinnon, said the bill would need to pass before April 7 when Anchorage votes on a bond package for the retroactivity clause to work, and to prevent the state from paying toward that.

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