Mar 27, 2012 at 7:42 am
ST. PAUL, Minn. (AP) - The Minnesota Senate has passed a bill to begin repaying the $2.4 billion that the state owes to Minnesota schools.
The Senate passed the GOP-crafted bill Monday on a vote of 35-29.
The bill would repay about $430 million in aid payments that have been delayed in recent years to help balance the state budget. It taps the state's newly replenished budget reserves to do so, and Democrats including Gov. Mark Dayton say that's a bad idea as the state regains its financial footing after several years of chronic budget deficits.
A similar bill to begin repaying the shift has also passed the state House. The bill is likely to end up in a House-Senate conference committee.