00;00;00;03 - 00;00;16;05
Stephanie Wiechmann
When announcing he was calling for a special session of the General Assembly, Indiana Governor Eric Holcomb asked lawmakers to approve a $ 12 million interest free loan to Muncie Community Schools. But that's not what Indiana House Speaker Brian Bosma and Senate President Pro Tem David Long intend to do on May 14th.

00;00;16;10 - 00;00;29;18
Brian Bosma
It's my intent the bills that were on the table last night in the form, substantially in the form they were last night, the last night are put to a final vote, as they should have been the last night. And what if we had a couple more hours?

00;00;29;21 - 00;00;52;27
Stephanie Wiechmann
In a press conference, the two GOP leaders say they will bring back House Bill 1315 for a vote. The school financials bill has ramifications for all schools in Indiana, but for Muncie, it will mean approving a state university to run a local school district for the first time in the state's history. Bosma says as a practicing bond lawyer, he's concerned about the district misusing a $ 10 million capital bond for operating expenses.

00;00;53;00 - 00;00;58;09
Brian Bosma
Fiscal irresponsibility translates to educational irresponsibility as well. So I'm enthused about Ball State.

00;00;58;11 - 00;01;01;16
Stephanie Wiechmann
Long also says Muncie situation needs to be fixed.

00;01;01;19 - 00;01;17;08
David Long
But most importantly, Muncie is also upside down fiscally, have rejected or refused to listen to years of requests and near mandates for not quite from the legislature saying you need to get your house in order. They continue to, to do the exact opposite.

00;01;17;12 - 00;01;36;09
Stephanie Wiechmann
The bill’s last version was passed through conference committee just minutes before midnight on March 14th. It allows Ball State to run MCS, for which the university will be paid, like an emergency manager would. There is a cap and an end date on those payments, but there is no end date for the agreement. Lawmakers would have to pass another bill to give local control back to MCS.

00;01;36;12 - 00;01;47;15
Stephanie Wiechmann
In a statement Friday, Ball State President Geoffrey Mearns says Ball State is committed to the long term success of MCS and Muncie. Earlier this year, he called the proposal a historic opportunity for Muncie schools.

00;01;47;16 - 00;02;01;14
Geoffrey Mearns
This would be a community solution led by an anchor institution that has been in this community now for 100 years, that has a vested interest in the future of this community that has experience in education.

00;02;01;15 - 00;02;19;10
Stephanie Wiechmann
Two of the bill's biggest concerns remain in the conference committee version that will be considered. Muncie's local elected school board will be replaced with appointees that do not have to live within the Muncie district boundaries. Also, Ball State is not required to give Muncie teachers collective bargaining rights. In Muncie, Stephanie Wiechmann, IPR news.