Introduced by Sen. Jay Emler (R) on January 13, 2009, in his role as committee chairman, to prevent school districts from receiving state funds for local building projects financed with general obligation bonds issued after January 1, 2009 and before June 30, 2011. School districts could receive payments from the fund for outstanding bonds issues prior to December 31, 2008 in an amount determined by the state board of education.