ECSheading
From the ECS State Policy Database
Finance--Bonds


Education Commission of the States • 700 Broadway, Suite 810 • Denver, CO 80203-3442 • 303.299.3600 • fax 303.296.8332 • www.ecs.org

This database is made possible by your state's fiscal support of the Education Commission of the States (ECS). Most entries are legislative, although rules/regulations and executive orders that make substantive changes are included. Every effort is made to collect the latest available version of policies; in some instances, recent changes might not be reflected. For expediency purposes minimal attention has been paid to style (capitalization, punctuation) and format.

Please cite use of the database as: Education Commission of the States (ECS) State Policy Database, retrieved [date].

State Status/Date Level Summary
ARTo governor 02/2013P-12District Bonds
S.B. 139
Amends how the state helps financially-distressed school districts pay off bonds. Requires the Arkansas Department of Education to withhold ...

More...
CASigned into law 09/2012P-12
Community College
Paying Interest on Bond Notes via Property Tax
A.B. 794
From bill summary: Instead of requiring the interest on school district or community college district bond anticipation notes notes to be pa...

More...
CASigned into law 07/2012P-12
Community College
School Bonds: Citizens' Oversight Committee
A.B. 1199
Requires that members of an independent citizens' oversight committee (established by a district or community college if voters approve fina...

More...
ALSigned into law 05/2012P-12BRAC Districts, Use of BRAC Bonds Funds for School Bus Fleets
H.B. 407
Changes the baseline date for the Base Realignment and Closure (BRAC) Distributions provisions in the education code from January 1, 2010 to...

More...
FLSigned into law 04/2012P-12District School Board Bonds
H.B. 465
Extends the allowable time period for school district bonds from 20 years to 30 years. Streamlines the language defining when bonds are to b...

More...
ORSigned into law 07/2011Postsec.Capitol Construction
H.B. 5006
Limits for six-year period beginning July 1, 2011, payment of expenses from other funds collected or received by various state agencies for ...

More...
OHSigned into law 06/2011P-12Transfers from School District Bond Fund or Bond Retirement Fund
H.B. 153 - Transfers from School District Bond Fund or Bond Retirement Fund
From bill analysis: Authorizes transfers from a bond fund or bond retirement fund to a permanent improvement fund, even if all of the obliga...

More...
ORSigned into law 06/2011P-12Capital Costs
S.B. 18
Establishes statutory provisions required for Superintendent of Public Instruction to borrow money pursuant to Article XI-P of Oregon Consti...

More...
NVSigned into law 05/2011Postsec.Bonds
A.B. 478
Existing law authorizes the Board of Regents of the University of Nevada to issue bonds and other securities to finance certain projects at ...

More...
NVVetoed 03/2011P-12Outstanding Bonds
A.B. 183
Revises the provisions regarding the establishment and maintenance of a reserve account for payment of the outstanding bonds of a school dis...

More...
MTSigned into law 03/2011P-12Authority to Finance Energy Conservation Measures
H.B. 182
From the fiscal note: HB 182 extends the debt repayment period for Montana school districts to borrow funds through the Board of Investments...

More...
ARSigned into law 03/2011P-12Clarifying Definitions
H.B. 1527
Clarifies definitions related to bonded debt assistance for school districts.
http://www.arkleg.state.ar.us/assembly/2011/2011R/Acts/Act266....

More...
SDSigned into law 03/2011Community CollegeFinance - Bonds
H.B. 1228
An act to increase the bonding limit of the four technical institutes.
1-16A-77. The aggregate outstanding principal amount of bonds, notes...

More...
AZTo governor. 04/2010P-12Sale of Bonds
H.B. 2725--Multiple Provisions
Upon request of the school district, allows monies earned as interest or otherwise derived from the investment of the proceeds of the sale o...

More...
ORChaptered. Chapter No. 906 08/2009Postsec.Postsecondary Facilities
S.B. 5535
Relates to the use of lottery bonds on a specified river channel deepening project, for higher education capital construction, deferred main...

More...
OHSigned into law 07/2009P-12Big Eight District Facilities and Joint Vocational District Bonded Indebtedness
H.B. 1 - Section 3318.38, 3318.44
Makes various changes to the accelerated urban school building assistance program for Big Eight districts. Amends provisions related to the ...

More...
ORSigned into law 07/2009P-12Finance
H.B. 2414
Prescribes ballot titles and explanatory statements for specified House Joint Resolutions concerning low-interest homeownership loans for st...

More...
TXSigned into law 06/2009P-12Providing Credit Enhancement for Bonds
H.B. 3646 - Section 75
Adds "Intercept Program to Provide Credit Enhancement for Bonds," subchapter I, to Chapter 45 of the Education Code. Enhances districts' abi...

More...
TXSigned into law 06/2009P-12Bonds
H.B. 3646 - Sections 69-72
Section 69: Adds new section 45.0531. Authorizes the state board by rule to establish a percentage of the cost value of the permanent school...

More...
TXSigned into law 06/2009P-12District Finance
H.B. 3646 - Sections 66-68 and 86
Section 66: Establishes provisions allowing a school district to adopt a budget after the district adopts a tax rate for the tax year in whi...

More...
MTSigned into law 04/2009P-12Bonding Capacities
H.B. 513
Allows bonding capacities to be combined in high school districts with an attached elementary district. (Deletes the requirement that the to...

More...
LASigned into law 07/2008P-12Public Benefit Corporations
H.B. 1054
Authorizes city, parish, and other local public school boards to create public benefit corporations and enter into contracts for the improve...

More...
IDSigned into law 04/2008P-12Finance
H.B. 673
Makes an appropriation for the Division of Facilities portion of the Public Schools budget; provides for the transfer and appropriation of m...

More...
MSSigned into law 03/2008P-12Bonded Indebtedness
S.B. 2995
Provides that the bonded indebtedness limit for school districts in which the total number of students enrolled at any one time during the s...

More...
SDSigned into law 03/2008Community CollegeFinance
H.B. 1218
Increases the maximum allowable outstanding amount of bonds issued by the Health and Educational Facility Authority on behalf of four techni...

More...
IDSigned into law 03/2008P-12Finance
H.B. 457
Amends existing law to clarify that the Bond Levy Equalization Support Program for school districts; applies to actual projects that were pr...

More...
TXUnofficially approved by Voters. 11/2007Postsec.
Community College
Bonds to Finance Student Loans
V. 2
(PROPOSITION 2; SJR 57 2007)Proposes a constitutional amendment to provide for the issuance of a specified amount of general obligation bond...

More...
NVSigned into law 06/2007Postsec.
Community College
Increased Bonding Authority
S.B. 455
Increases revenue bonding authority of the Nevada System of Higher Education.
http://www.leg.state.nv.us/74th/Bills/SB/SB455_EN.pdf...

More...
NVSigned into law 06/2007P-12Financial Administration
A.B. 615
If a municipality proposes to issue or incur general obligation bonds, the proposal must be submitted to the electors at an election. Provid...

More...
TXSigned into law 05/2007P-12Texas Public Finance Authority
H.B. 1400
Relates to the issuance by a corporation established by the Texas Public Finance Authority of revenue bonds for open-enrollment charter scho...

More...
MTSigned into law 04/2007P-12General Obligation Bonds
H.B. 672
Raises the maximum amount of debt a school district can incur through the issuance of general obligation bonds and certain other long term o...

More...
ARSigned into law 04/2007P-12Funding
S.B. 274 (Finance)
Section 32 of the act repeals code concerning eligibility for isolated schools funding; Section 30 properly replaces the isolated schools la...

More...
LAIssued 11/2006Postsec.
Community College
Bond Allocation and Student Loans
E.O. 46
Provides an allocation from the 2006 ceiling to be used to finance student loans which, if the student meets certain timely payment requirem...

More...
MISigned into law 07/2006P-12School District Bond Issuance
H.B. 6069
Allows boards of local or intermediate school districts to borrow money by issuing notes to secure funds for school operations or to pay pre...

More...
ILSigned into law 06/2006P-12Debt Limitations
S.B. 857
Relates to the debt limitations of school districts. Provides that bonds issued by a community consolidated school district maintaining grad...

More...
ARSigned into law 04/2006P-12Bonded Indebtedness
H.B. 1007
Removes the statutory limitation on bonded indebtedness for school districts.
http://www.arkleg.state.ar.us/ftproot/bills/2006S1/public/HB10...

More...
ILSigned into law 10/2004P-12School District Tax Levy
H.B. 759
Amends the School Code. Provides that a community unit school district may issue bonds up to a specified amount if the district has a specif...

More...
CAVetoed 09/2004P-12School Districts: Reorganizations
A.B. 2841
Permits a county committee on school district organization to abolish a common governing board of an elementary school district and a high s...

More...
ILVeto overridden by both houses of legislature 07/2004P-12Condemned School Repair Financing
H.B. 753
Amends the Property Tax Code and the School Code. Allows a school district located in a county subject to the Property Tax Extension Limitat...

More...
HISigned into law 06/2004P-12
Postsec.
Community College
Revenue Bonds for Not-for-Profit Education Facilities
S.B. 3086
Relates to special purpose revenue bonds for Island Pacific Academy. The legislature finds and determines that the planning and construction...

More...
AZSigned into law 06/2004P-12Impact Aid Bonds
H.B. 2010
Removes the restriction on accommodation school districts located on a military base from issuing impact aid revenue bonds.  The district ma...

More...
IDSigned into law 03/2004P-12Bond Levy Equalization Program
H.B. 780
Amends existing law relating to the Bond Levy Equalization Support Program to prohibit utilization of assistance pursuant to the program for...

More...
NMPartial Veto, November 2004 Ballot 03/2004P-12
Postsec.
Capital Projects
H.B. 294
Authorizes the issuance and sale of capital projects general obligation bonds to make capital expenditures for senior citizen facility impro...

More...
CAApproved by voters 03/2004P-12
Postsec.
Community College
K-20 Facilities Bond Issue
Proposition 55 (AB 16)
Enacts the Kindergarten - University Public Facilities Bond Act of 2004 for $12.3 million; funds education facilities to relieve overcrowdin...

More...
OHDid Not Pass 11/2003Postsec.Bonds from Infrastructure
State Issue 1
Constitutional Amendment that authorizes state and local governments to issue bonds and provide other financial assistance to support "scien...

More...
COSigned by Governor 05/2003P-12Tax Exempt Bond Financing
H.B. 1363
Repeals the statutory provisions that prohibit a religious entity from receiving tax-exempt bond financing through the Colorado educational ...

More...
IDSigned into law 04/2003P-12School Bond Equalization Levy
H.B. 319
Relates to the school bond levy equalization support program to change the time limitations which govern certain bond and bond levy amounts;...

More...
AKApproved by voters 11/2002P-12Bonds to Support Education Facilities
Bonding Proposition C
State General Obligation Educational and Museum Facility, Design, Construction, and Major Maintenance Bonds $236,805,441. An Act relating t...

More...
CAApproved by voters 11/2002P-12
Postsec.
Kindergarten - University Public Education Facilities Bond Act of 2002
Proposition 47
Kindergarten - University Public Facilities Bond Act of 2002. (http://www.ss.ca.gov/elections/elections_j.htm#2002General)...

More...
NMApproved by voters 11/2002P-12Capital Projects General Obligation Bonds
General Obligation Bonds
Bonds B and C: Authorizes the issuance and sale of capital projects general obligation bonds for various capital expenditures including publ...

More...
NVRejected by voters 11/2002P-12Exemption from State Debt Limits
Ballot Question 7
The proposal to amend the Nevada Constitution would allow an exemption from the state debt limit for the improvement, acquisition or constru...

More...
ORApproved by voters 11/2002P-12General Obligation Bonds For Seismic Rehabilitation Of Public Education Buildings
Measure 15
(SJR 21) Amends Constitution: Authorizes State To Issue General Obligation Bonds For Seismic Rehabilitation Of Public Education Buildings (D...

More...
VAApproved by voters 11/2002P-12Educational Facilities
Bond Issue, Question 1
Approving general obligations bonds authorized by Chapters 827 and 859, Acts of the General Assembly of 2002 in the maximum amount of $900,4...

More...
MISigned into law 04/2002P-12Bond Authority to Fund Deficits
H.B. 5415
Amends a section of the Revised School Code relating to a school district's bond authority to fund a deficit....

More...
MESigned into law 04/2002P-12Bond Issue Authorized
H.B. 1628
Authorizes a $28,500,000 General Fund bond issue to capitalize the School Revolving Renovation Fund, to provide grants to public educational...

More...
ALAct No. 03/2002P-12Bonding Authority
S.B. 517
Authorizes Public School and College Authority to sell and issue aggregate principal amount of Bonds, in addition to all other bonds previou...

More...
IDSigned into law 03/2002P-12Sales Taxes May Refund Some School Bonds
S.B. 1424
Amends existing law to authorize the pledge of state sales tax moneys for payment of refunding school bonds issued on and after March 1, 199...

More...
MISigned into law 03/2002P-12District Bonding/Borrowing Authority
H.B. 5414
Makes a technical amendment to the section of the Revised School Code relating to school district borrowing and bond authority....

More...
MISigned into law 03/2002P-12Bond Authority for Districts Housing Voc./Tech. Ed. Program
H.B. 5408
Amends the provision of law relating to the bond authority an intermediate school district in which an area vocational-technical education p...

More...
MISigned into law 03/2002P-12School District Bond Authority
H.B. 5407
Amends a section of the provision of law related to school district bond authority under the Revised School Code....

More...
MISigned into law 03/2002P-12District Bonding/Borrowing Authority
H.B. 5413
Makes a technical amendment to the Revised School Code relating to the bonding or borrowing authority of school districts....

More...
MSSigned into law 03/2002P-12Use of Bond Funds
S.B. 2695
Relates to school board investment of surplus funds; provides they may be invested in the same manner as 16th Section funds....

More...
RIBecame law without GOVERNOR'S signature 07/2000P-12Bonds
S.B. 3067
Relates to municipal public building authorities; provides that in calculating the limitations of revenue bonds, there shall not be included...

More...