Tuesday, April 12, 2005

HB 616: Independent Higher Education Bonds

H.B. 616, P.N. 689 (ZUG) This would create the Independent Higher Education and Community Financing Act.
The Pennsylvania Higher Educational Facilities Authority would be created and would issue $50 million of bonds over five years to independent higher education institutions. A Board of Review would be created that would receive, review and award applications for issuing bonds from higher education institutions. Half of the annual debt service would be reimbursed to the institution from the Community and Economic Development Department.


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