Practical Studies for School District's Own-Tax-Revenue and Credit Guarantee of General Obligation Bonds in the United States

2017 Fiscal Year Final Research Report

• Project/Area Number: 15K04333
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Education
• Research Institution: Ohtsuki City College
• Principal Investigator: Hanawa Takeo 大月短期大学, 経済科, 准教授(移行) (90434422)
• Research Collaborator: Murnane Richard ハーバード大学, 大学院教育学スクール, 教授 ; Bowers Alex コロンビア大学, 大学院教育学スクール, 准教授
• Project Period (FY): 2015-04-01 – 2018-03-31
• Keywords: アメリカ初等中等教育（学校区の財政運営） / 教育財源確保・財政ファイナンス / 一般財源保証債 / 教育自治・住民投票 / 州資本補助金 / 一般基金・資本基金・債務管理基金 / 学校資本改善事業計画 / 公債市場・証券市場

Outline of Final Research Achievements

This research Project finds as follows; 1) A major factor on credit guarantee of General Obligation Bonds issued by Urban school districts with less tax levy power is a state funding which supports district's debt service payments. That state funding is sytematically distributed directly to each district's Debt Service Fund and the state allocation system by upper government is emerging the credit guarantee of bonds for the bond market and investors. 2) Urban school districts with less tax levy power tend to be affected by fiscal situation that state capital money be receivable or not in the budgeting process, including the referendom over the issue of Generel Obligation Bonds and resolution of Capital Improvement Project.

Free Research Field

アメリカ財政・教育財政