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S.F. No. 3097 - 2018 Public Finance Bill (First Engrossment)
Author: Senator Roger C. Chamberlain
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
Date: March 22, 2018


Section 1. Interest. Modifies the interest rate charged on drainage lien principal so that the interest rate may not exceed the rate set by the State Court Administrator, or six percent, whichever is greater.

Section 2. Any relief under bankruptcy code.  Deletes an outdated reference to the United States Bankruptcy Code.

Section 3. Definitions. Updates a cross-reference to the definition of “municipality” for purposes of capital improvement bonds.


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