From the ECS State Policy Database Finance--Bonds

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 AR To governor 02/2013 P-12 District 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... CA Signed into law 09/2012 P-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... CA Signed into law 07/2012 P-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... AL Signed into law 05/2012 P-12 BRAC 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... FL Signed into law 04/2012 P-12 District 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... OR Signed into law 07/2011 Postsec. 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... OH Signed into law 06/2011 P-12 Transfers 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... OR Signed into law 06/2011 P-12 Capital 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... NV Signed into law 05/2011 Postsec. 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... NV Vetoed 03/2011 P-12 Outstanding 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... MT Signed into law 03/2011 P-12 Authority 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... AR Signed into law 03/2011 P-12 Clarifying 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... SD Signed into law 03/2011 Community College Finance - 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... AZ To governor. 04/2010 P-12 Sale 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... OR Chaptered. Chapter No. 906 08/2009 Postsec. 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... OH Signed into law 07/2009 P-12 Big 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... OR Signed into law 07/2009 P-12 Finance H.B. 2414 Prescribes ballot titles and explanatory statements for specified House Joint Resolutions concerning low-interest homeownership loans for st... More... TX Signed into law 06/2009 P-12 Providing 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... TX Signed into law 06/2009 P-12 Bonds 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... TX Signed into law 06/2009 P-12 District 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... MT Signed into law 04/2009 P-12 Bonding 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... LA Signed into law 07/2008 P-12 Public 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... ID Signed into law 04/2008 P-12 Finance 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... MS Signed into law 03/2008 P-12 Bonded 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... SD Signed into law 03/2008 Community College Finance 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... ID Signed into law 03/2008 P-12 Finance 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... TX Unofficially approved by Voters. 11/2007 Postsec. 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... NV Signed into law 06/2007 Postsec. 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... NV Signed into law 06/2007 P-12 Financial 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... TX Signed into law 05/2007 P-12 Texas 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... MT Signed into law 04/2007 P-12 General 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... AR Signed into law 04/2007 P-12 Funding 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... LA Issued 11/2006 Postsec. 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... MI Signed into law 07/2006 P-12 School 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... IL Signed into law 06/2006 P-12 Debt 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... AR Signed into law 04/2006 P-12 Bonded 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... IL Signed into law 10/2004 P-12 School 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... CA Vetoed 09/2004 P-12 School 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... IL Veto overridden by both houses of legislature 07/2004 P-12 Condemned 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... HI Signed into law 06/2004 P-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... AZ Signed into law 06/2004 P-12 Impact 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... ID Signed into law 03/2004 P-12 Bond 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... NM Partial Veto, November 2004 Ballot 03/2004 P-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... CA Approved by voters 03/2004 P-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... OH Did Not Pass 11/2003 Postsec. 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... CO Signed by Governor 05/2003 P-12 Tax 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... ID Signed into law 04/2003 P-12 School 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... AK Approved by voters 11/2002 P-12 Bonds 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... CA Approved by voters 11/2002 P-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... NM Approved by voters 11/2002 P-12 Capital 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... NV Rejected by voters 11/2002 P-12 Exemption 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... OR Approved by voters 11/2002 P-12 General 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... VA Approved by voters 11/2002 P-12 Educational 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... MI Signed into law 04/2002 P-12 Bond 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... ME Signed into law 04/2002 P-12 Bond 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... AL Act No. 03/2002 P-12 Bonding 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... ID Signed into law 03/2002 P-12 Sales 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... MI Signed into law 03/2002 P-12 District 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... MI Signed into law 03/2002 P-12 Bond 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... MI Signed into law 03/2002 P-12 School 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... MI Signed into law 03/2002 P-12 District 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... MS Signed into law 03/2002 P-12 Use 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... RI Became law without GOVERNOR'S signature 07/2000 P-12 Bonds S.B. 3067 Relates to municipal public building authorities; provides that in calculating the limitations of revenue bonds, there shall not be included... More...