House Sponsors: MCGUIRE. Short description: GEN OB BONDS-SCHOOL CONSTRUCTN Synopsis of Bill as introduced: Amends the Capital Development Board Act by changing the grant index applicable to grants to school districts for school construction projects to an enrollment based formula from a weighted average daily attendance based formula. Also amends the General Obligation Bond Act to increase the State's bonding authority by $1,000,000,000, earmarking that increase exclusively for specified types of school construction projects over a 10-year period. Effective immediately. STATE DEBT IMPACT NOTE Increase in general obligation principal $1.0 bil. Increase in potential general obligation debt $1.9 bil. Increase in annual debt service payment (FY2022) $78.3 mil. STATE DEBT IMPACT NOTE No change from previous note. FISCAL NOTE (Capital Development Board) HB956 has no fiscal impact on CDB. STATE MANDATES FISCAL NOTE While $1,000,000 is a step in the right direction, it repre- sents only a small percentage of current and future needs of existing school districts. FISCAL NOTE (State Bd. of Ed.) No change from previous note. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status