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DIGEST OF INTRODUCED BILL
Shortfall loans from the common school fund. Provides that school corporations that experience property tax revenue shortfalls of at least 5% due to: (1) reassessments ordered by the department of local government finance for the March 1, 2006, or January 15, 2007, assessment date; or (2) the inability of the county treasurer of the county in which a school corporation is located to issue property tax statements in a timely manner; may apply to the state board of education for a shortfall loan from the common school fund. Extends the expiration date of shortfall loan provisions from December 31, 2010, to December 31, 2011.