Relates to certain bonds issued to finance school rehabilitation or reconstruction costs for Rochester schools

This bill modifies how interest costs are calculated for bonds financing Rochester school rehabilitation or reconstruction projects. It establishes a method to determine the interest rate used for state aid calculations by comparing the actual average interest rate on financing (from Monroe IDA or NY Dormitory Authority) against projected rates, requiring annual reporting of both. Rochester schools and the Monroe Industrial Development Agency or NY Dormitory Authority directly affect the implementation, as they must provide interest rate analyses to the education commissioner each year. The key provision ensures state aid reflects actual financing costs rather than estimates, with adjustments made annually based on verified data. This aims to align state funding more accurately with real project costs for eligible school renovations.