90th General Assembly
Summary of HB0956
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House Sponsors:

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


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