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 CA Signed into law 09/2012 P-12 Community College From bill summary: Instead of requiring the interest on school district or community college district bond anticipation notes notes to be paid from the tax levied to pay the principal of and interest on the bonds, authorizes the interest on the notes to be paid from a property tax levied for that purpose if authorized by a resolution of the district or community college district board, and if the principal amount of the notes does not exceed the remaining principal amount of authorized but unissued bonds. Provides that this tax is authorized by law. Allows the premium received on the sale of the bonds to be used to pay the interest on the notes. Provides that the notes may be issued only if the tax rate levied to pay interest on the notes would not cause the district or community college district to exceed the limitations set forth in specified existing law. http://www.leginfo.ca.gov/pub/11-12/bill/asm/ab_0751-0800/ab_794_bill_20120928_chaptered.pdf Title: A.B. 794 Source: www.leginfo.ca.gov CA Signed into law 07/2012 P-12 Community College Requires that members of an independent citizens' oversight committee (established by a district or community college if voters approve financing for certain types of school facilities) serve for a minimum term of 2 years without compensation and for no more than 3 consecutive terms. http://www.leginfo.ca.gov/pub/11-12/bill/asm/ab_1151-1200/ab_1199_bill_20120710_chaptered.pdf Title: A.B. 1199 Source: www.leginfo.ca.gov AL Signed into law 05/2012 P-12 Changes the baseline date for the Base Realignment and Closure (BRAC) Distributions provisions in the education code from January 1, 2010 to January 1, 2006. Increases the amount the Alabama Public School and College Authority is authorized to issue bonds for (for renovation or construction of school faciliities in BRAC-impacted areas) from $175 million to $208 million; extends purpose of such bonds to include school bus fleet renewal. Amends qualifications for recipient school districts. By January 2013, requires the authority to allocate, and the department to distribute such allocation of $33 million of bond principal for local boards to renew school bus fleets. Provides that local procedures for administering such school bus fleet funds are different from existing procedures for administration of BRAC school facility construction and renovation funds. Repeals a provision that in order to qualify for bond proceeds, a local school system may redirect an existing tax not currently dedicated to schools to qualify for bonds. Title: H.B. 407 Source: Westlaw/StateNet FL Signed into law 04/2012 P-12 Extends the allowable time period for school district bonds from 20 years to 30 years. Streamlines the language defining when bonds are to be made recallable. http://www.myfloridahouse.gov/Sections/Documents/loaddoc.aspx?FileName=_h0465er.docx&DocumentType=Bill&BillNumber=0465&Session=2012 Title: H.B. 465 Source: www.myfloridahouse.gov OR Signed into law 07/2011 Postsec. Limits for six-year period beginning July 1, 2011, payment of expenses from other funds collected or received by various state agencies for capital construction. Limits expenditures from federal funds collected or received by Oregon Department of Aviation and Oregon Military Department for capital construction for six-year period beginning July 1, 2011. Increases expenditure limitations for certain previously authorized projects. Limits for six-year period beginning July 1, 2011, payment of expenses from bond proceeds and other revenues, including federal funds, collected or received by Oregon University System for capital construction within Oregon University System. Authorizes sale of bonds under Article XI-G of Oregon Constitution for previously approved projects. Specifies that Legislative Assembly determines that projects financed by bonds issued under Article XI-F(1) of Oregon Constitution benefit higher education institutions or activities. Sets expiration date on project approvals and expenditure limitations. Extends expiration dates for certain projects. Approves proposed sale of certain armories and facilities. Declares emergency, effective on passage. http://www.leg.state.or.us/11reg/measpdf/hb5000.dir/hb5006.en.pdf Title: H.B. 5006 Source: http://www.leg.state.or.us OH Signed into law 06/2011 P-12 From bill analysis: Authorizes transfers from a bond fund or bond retirement fund to a permanent improvement fund, even if all of the obligations payable from the fund have not been retired. Limits the availability of this new option to school districts that receive approval for such a transfer from the county budget commission. When approving such transfers, requires a county budget commission to determine that the money to be transferred will not be necessary to meet any outstanding obligations of the fund after considering the amount of outstanding obligations, the balance of the fund, and the fund's revenue sources. Page 475 of 1000: http://www.legislature.state.oh.us/BillText129/129_HB_153_EN_part3.pdf Bill analysis (page 696): http://www.lsc.state.oh.us/analyses129/11-hb153-129.pdf Title: H.B. 153 - Transfers from School District Bond Fund or Bond Retirement Fund Source: www.legislature.state.oh.us OR Signed into law 06/2011 P-12 Establishes statutory provisions required for Superintendent of Public Instruction to borrow money pursuant to Article XI-P of Oregon Constitution for capital costs of school districts. Establishes School Capital Matching Fund to replace school capital matching subaccount. Establishes Article XI-P Bond Fund and Article XI-P Bond Administration Fund. Continuously appropriates moneys from funds. Makes statutory changes related to implementation of Article XI-P of Oregon Constitution. http://www.leg.state.or.us/11reg/measpdf/sb0001.dir/sb0018.en.pdf Title: S.B. 18 Source: http://www.leg.state.or.us NV Signed into law 05/2011 Postsec. Existing law authorizes the Board of Regents of the University of Nevada to issue bonds and other securities to finance certain projects at the University of Nevada, Reno, in a total principal amount not exceeding $312,695,000. This bill increases the authorized amount of such bonds to $348,360,000. http://www.leg.state.nv.us/Session/76th2011/Bills/AB/AB478_EN.pdf Title: A.B. 478 Source: http://www.leg.state.nv.us NV Vetoed 03/2011 P-12 Revises the provisions regarding the establishment and maintenance of a reserve account for payment of the outstanding bonds of a school district. http://www.leg.state.nv.us/Session/76th2011/Bills/AB/AB183_EN.pdf Title: A.B. 183 Source: http://www.leg.state.nv.us MT Signed into law 03/2011 P-12 From the fiscal note: HB 182 extends the debt repayment period for Montana school districts to borrow funds through the Board of Investments from 10 to 15 fiscal years at no cost to the state. The bill allows local governments to issue bonds or notes, without a vote of the electorate, to finance energy conservation measures. http://data.opi.mt.gov/bills/2011/billpdf/HB0182.pdf Title: H.B. 182 Source: http://data.opi.mt.gov AR Signed into law 03/2011 P-12 Clarifies definitions related to bonded debt assistance for school districts. http://www.arkleg.state.ar.us/assembly/2011/2011R/Acts/Act266.pdf Title: H.B. 1527 Source: http://www.arkleg.state.ar.us SD Signed into law 03/2011 Community College An act to increase the bonding limit of the four technical institutes. 1-16A-77. The aggregate outstanding principal amount of bonds, notes, or other obligations of the authority which are payable out of receipts, rentals, and other payments made pursuant to lease purchase agreements with an LEA or the South Dakota Board of Education under the authority of chapter 13-39, may not exceed one hundred five million dollars for obligations issued by the authority in connection with any lease-purchase agreement with the Western Dakota Technical Institute, the Southeast Technical Institute, the Lake Area Technical Institute or the Mitchell Technical Institute. However, at the option of the authority to be expressed in a resolution or an indenture which authorizes or authorized any refunding bonds, the principal amount of the bonds, notes, or other obligations which are issued to refund, pay, discharge, or defease any outstanding bonds, notes, or other obligations or which are, as a result of issuance of any such refunding obligations, deemed to be paid, discharged, or defeased by reason of an irrevocable deposit of cash or securities, may be excluded from the total principal amount of obligations of the authority for the purpose of determining compliance with the limitation of this section. http://legis.state.sd.us/sessions/2011/Bills/HB1228ENR.pdf Title: H.B. 1228 Source: http://legis.state.sd.us AZ To governor. 04/2010 P-12 Upon request of the school district, allows monies earned as interest or otherwise derived from the investment of the proceeds of the sale of bonds to be deposited to the Bond Building Fund if federal laws or rules require the intest to be used for capital expenditures and contains a retroactive date from and after May 30, 2009. Stipulates that any political subdivison may make any covenant, order any rebate, file any tax return, report any information and order the limitation on the yield of any investment made with the proceeds from the sale of its bonds or with taxes for any federal tax benefits, payments or credits relating to a bond issues under any provision of law, including federal tax credits, federal subsidy payments and retention of the exemption from federal income on a bond issues. Allows a school district that was authorized to issue bonds more than nine years ago to choose to use the proceeds of the bonds authorized at the election for any necessary capital improvements, provided that the Board votes to authorize the proposed use of the bond proceeds before June 30, 2013. Allows school districts to decide whether bonds and soft-capital allocations of the school district can be issued and sold for personnel training costs for equipment and technolocy and stipulates that no more than 10% of the bond proceeds or soft-capital can be used for personnel training. http://www.azleg.gov/legtext/49leg/2r/bills/hb2725s.pdf Title: H.B. 2725--Multiple Provisions Source: http://www.azleg.gov OR Chaptered. Chapter No. 906 08/2009 Postsec. Relates to the use of lottery bonds on a specified river channel deepening project, for higher education capital construction, deferred maintenance, code compliance and safety projects, to provide financial assistance to aid in acquisition, renovation, or maintenance of section 8 housing, to provide assistance in acquiring manufactured dwelling parks, and for water conservation, reuse or storage projects; establishes funds for these and other purposes. Chapter 906 http://www.leg.state.or.us/09reg/measpdf/sb5500.dir/sb5535.en.pdf Title: S.B. 5535 Source: http://www.leg.state.or.us/ OH Signed into law 07/2009 P-12 Makes various changes to the accelerated urban school building assistance program for Big Eight districts. Amends provisions related to the bonded indebtedness of joint vocational school district boards Pages 1351-1354 of 3120: http://www.legislature.state.oh.us/BillText128/128_HB_1_EN_N.pdf Title: H.B. 1 - Section 3318.38, 3318.44 Source: www.legislature.state.oh.us OR Signed into law 07/2009 P-12 Prescribes ballot titles and explanatory statements for specified House Joint Resolutions concerning low-interest homeownership loans for state veterans and the issuance of state bonds to match voter approved school district bonds for school capital costs; directs that certain measures, if referred, be submitted to the people at a special election; directs that any other measure referred by petition be submitted to the people at the next primary election. Chapter 714. http://www.leg.state.or.us/09reg/measures/hb2400.dir/hb2414.en.html Title: H.B. 2414 Source: http://www.leg.state.or.us TX Signed into law 06/2009 P-12 Adds "Intercept Program to Provide Credit Enhancement for Bonds," subchapter I, to Chapter 45 of the Education Code. Enhances districts' ability to borrow funds to cover capitol construction costs. Adds "Open-Enrollment Charter School Facilities Credit Enhancement Program," subchapter J, to Chapter 45 of the Education Code. Enacts similar provisions specific to charter schools. Pages 73-85 of 108: http://www.legis.state.tx.us/tlodocs/81R/billtext/pdf/HB03646F.pdf Title: H.B. 3646 - Section 75 Source: www.legis.state.tx.us TX Signed into law 06/2009 P-12 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 fund to be reserved from use in guaranteeing bonds. Section 70: Requires districts seeking state guarantee of eligible bonds to use a form adopted by the commissioner for this purpose. Section 71: Adds reference to credit enhancement. Section 72: Authorizes the commissioner to order a district to set an ad valorem tax rate capable of producing an amount of revenue sufficient to allow the district to provide reimbursement to the permanent school fund and pay the principal of and interest on district bonds as the principal and interest become due. Provides that if a district fails to comply with the commissioner's order, the commissioner may impose any sanctions ennumerated in "Accreditation Sanctions," Subchapter G, Chapter 39, including appointment of a board of managers or annexation to another district, regardless of the district's accreditation status or the duration of a particular accreditation status. Pages 69-72 of 108: http://www.legis.state.tx.us/tlodocs/81R/billtext/pdf/HB03646F.pdf Title: H.B. 3646 - Sections 69-72 Source: www.legis.state.tx.us TX Signed into law 06/2009 P-12 Section 66: Establishes provisions allowing a school district to adopt a budget after the district adopts a tax rate for the tax year in which the fiscal year covered by the budget begins. Section 86 makes a conforming change in the Tax Code. Section 67: Adds section 44.908. Requires school districts to adopt policies governing the expenditure of local funds from vending machines, rentals, gate receipts or other local sources of revenue over which the district has direct control. Requires discretionary expenditures of local funds to be related to the district's educational purpose and provide a commensurate benefit to the district or its students and to meet the standards of Section 52, Article III, Texas Constitution, regarding expenditure of public funds. Section 68: Specifies that the guarantee of district bonds remains in effect until the date those bonds mature or are defeased in accordance with state law. Pages 67-68 and 96 of 108: http://www.legis.state.tx.us/tlodocs/81R/billtext/pdf/HB03646F.pdf Title: H.B. 3646 - Sections 66-68 and 86 Source: www.legis.state.tx.us MT Signed into law 04/2009 P-12 Allows bonding capacities to be combined in high school districts with an attached elementary district. (Deletes the requirement that the total indebtedness of the high school district with an attached elementary district is limited to the sum of 50% of the taxable value of the property for elementary school program purposes and 50% of the taxable value of the property for high school program purposes). Eliminates transition costs from the calculation of the total amount of the district building reserve. http://data.opi.mt.gov/bills/2009/billpdf/HB0513.pdf Title: H.B. 513 Source: http://data.opi.mt.gov/bills LA Signed into law 07/2008 P-12 Authorizes city, parish, and other local public school boards to create public benefit corporations and enter into contracts for the improvement and management of school property. Authorizes any public benefit corporation so created to issue negotiable revenue bonds. Provides that any obligations issued and any financing arrangements entered into are subject to approval by the state bond commission. To facilitate school construction or renovation, authorizes city, parish and other local boards to transfer properties to a public benefit corporation through financing arrangements, including without limitation sales, sale-leasebacks, leases, and lease-leasebacks, provided that no transfer of property may result in such property being used for purposes other than school purposes. Authorizes city, parish and other local public school boards to make loans and guarantee loans to a public benefit corporation or to other third-party entities to construct or renovate schools, subject to the approval of the state bond commission. Provides that any public benefit corporation may act alone or in partnership with any private entity to leverage additional funds not otherwise available to a city, parish, or other local public school board for school construction or renovation, transferred to such public benefit corporation. Provides that for purposes of these provisions, ""city, parish, and other local public school board" includes the Recovery School District. Requires the department of education to report annually to the Joint Legislative Committee on the Budget on the utilization of these provisions based on information provided the department each school year by every school district and public benefit corporation using New Market Tax Credits. http://www.legis.state.la.us/billdata/streamdocument.asp?did=500773 Title: H.B. 1054 Source: www.legis.state.la.us ID Signed into law 04/2008 P-12 Makes an appropriation for the Division of Facilities portion of the Public Schools budget; provides for the transfer and appropriation of moneys to the Bond Levy Equalization Fund; limits funds distributed to the General Fund from cigarette and tobacco products tax revenue; authorizes an expenditure to address the recommendations and findings outlined in the Safe and Secure Schools Assessment. Chapter 393 http://www3.idaho.gov/oasis/H0673.html Title: H.B. 673 Source: http://www3.idaho.gov MS Signed into law 03/2008 P-12 Provides that the bonded indebtedness limit for school districts in which the total number of students enrolled at any one time during the school has increased a certain average shall have a certain assessed value of the taxable property in the district. http://billstatus.ls.state.ms.us/documents/2008/pdf/SB/2900-2999/SB2995SG.pdf Title: S.B. 2995 Source: http://billstatus.ls.state.ms.us SD Signed into law 03/2008 Community College Increases the maximum allowable outstanding amount of bonds issued by the Health and Educational Facility Authority on behalf of four technical institutes. http://legis.state.sd.us/sessions/2008/Bills/HB1218ENR.pdf Title: H.B. 1218 Source: http://legis.state.sd.us ID Signed into law 03/2008 P-12 Amends existing law to clarify that the Bond Levy Equalization Support Program for school districts; applies to actual projects that were previously eligible. Chapter No. 70 http://www3.idaho.gov/oasis/H0457.html Title: H.B. 457 Source: http://www.legislature.idaho.gov TX Unofficially approved by Voters. 11/2007 Postsec. Community College (PROPOSITION 2; SJR 57 2007)Proposes a constitutional amendment to provide for the issuance of a specified amount of general obligation bonds to finance educational loans to students and for authority to enter into bond enhancement agreements with respect to general obligation bonds issued for that purpose. Title: V. 2 Source: Lexis-Nexis/StateNet NV Signed into law 06/2007 Postsec. Community College Increases revenue bonding authority of the Nevada System of Higher Education. http://www.leg.state.nv.us/74th/Bills/SB/SB455_EN.pdf Title: S.B. 455 Source: http://www.leg.state.nv.us/74th/Bills/SB/SB455_EN.pdf NV Signed into law 06/2007 P-12 If a municipality proposes to issue or incur general obligation bonds, the proposal must be submitted to the electors at an election. Provides that such a question may authorize the transfer of any excess revenue generated to the fund for capital projects of the school district for the payment of capital projects which can lawfully be paid from that fund. Increases the amount of the guarantee of each school district outstanding at any one time to $40,000,000. http://www.leg.state.nv.us/74th/Bills/AB/AB615_EN.pdf Title: A.B. 615 Source: http://www.leg.state.nv.us/ TX Signed into law 05/2007 P-12 Relates to the issuance by a corporation established by the Texas Public Finance Authority of revenue bonds for open-enrollment charter school facilities. http://www.capitol.state.tx.us/tlodocs/80R/billtext/pdf/HB01400F.pdf Title: H.B. 1400 Source: http://www.capitol.state.tx.us MT Signed into law 04/2007 P-12 Raises the maximum amount of debt a school district can incur through the issuance of general obligation bonds and certain other long term obligations from 45% of district taxable valuation to 50% (100% for a K-12 district). Increases the amount of debt a district can incur when the district is eligible for subsidies under the school facilities acquisition program. http://data.opi.mt.gov/bills/2007/billhtml/HB0672.htm Title: H.B. 672 Source: http://data.opi.mt.gov/ AR Signed into law 04/2007 P-12 Section 32 of the act repeals code concerning eligibility for isolated schools funding; Section 30 properly replaces the isolated schools language into another section of code; Section 33 amends the requirements for qualification to receive supplemental millage incentive funds for a public school district that voluntarily raised its maintenance and operation millage rate while keeeping property assessment per student below the state average. (Act No. 1573) http://www.arkleg.state.ar.us/ftproot/bills/2007/public/SB274.pdf Title: S.B. 274 (Finance) Source: http://www.arkleg.state.ar.us LA Issued 11/2006 Postsec. Community College Provides an allocation from the 2006 ceiling to be used to finance student loans which, if the student meets certain timely payment requirements, will have interest rates below the interest rates established by the U.S. Department of Education. http://gov.louisiana.gov/assets/docs/46exe2006-BondAlloc-LPFA-StudentLoans.pdf Title: E.O. 46 Source: Lexis-Nexis/StateNet MI Signed into law 07/2006 P-12 Allows boards of local or intermediate school districts to borrow money by issuing notes to secure funds for school operations or to pay previous loans obtained for school operations in the event of the unavailability or insufficiency of state school aid for any reason. Sets guidelines for issuing and repaying notes. http://www.legislature.mi.gov/documents/2005-2006/publicact/pdf/2006-PA-0285.pdf Title: H.B. 6069 Source: http://www.legislature.mi.govt IL Signed into law 06/2006 P-12 Relates to the debt limitations of school districts. Provides that bonds issued by a community consolidated school district maintaining grades K through 8 shall not be considered indebtedness for purposes of statutory limitations and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness under certain conditions. Provides for acquisition and improvement of school sites. http://www.ilga.gov/legislation/94/SB/PDF/09400SB0857lv.pdf Title: S.B. 857 Source: Lexis-Nexis/StateNet AR Signed into law 04/2006 P-12 Removes the statutory limitation on bonded indebtedness for school districts. http://www.arkleg.state.ar.us/ftproot/bills/2006S1/public/HB1007.pdf Title: H.B. 1007 Source: http://www.arkleg.state.ar.us IL Signed into law 10/2004 P-12 Amends the School Code. Provides that a community unit school district may issue bonds up to a specified amount if the district has a specified equalization valuation and a specified daily attendance if the bonds are issued to build, equip and repair specified school buildings. http://www.ilga.gov/legislation/publicacts/93/PDF/093-1045.pdf Title: H.B. 759 Source: Illinois Legislative Web site CA Vetoed 09/2004 P-12 Permits a county committee on school district organization to abolish a common governing board of an elementary school district and a high school district upon a vote of the electors of the school districts. Provides that an election relating to a school district reorganization may be held solely by mail, with certain requirements, and that an election may not be called for a petition to transfer uninhabited territory. Provides procedures for a charter school affected by reorganization. Relates to school district bonds. http://www.leginfo.ca.gov/pub/bill/asm/ab_2801-2850/ab_2841_bill_20040816_enrolled.html Veto message: http://www.governor.ca.gov/govsite/pdf/vetoes/AB_2841_veto.pdf Title: A.B. 2841 Source: California Legislative Web site IL Veto overridden by both houses of legislature 07/2004 P-12 Amends the Property Tax Code and the School Code. Allows a school district located in a county subject to the Property Tax Extension Limitation Law, with a total enrollment of a certain number of students, and that had a school building condemned to levy an annual property tax not to exceed .05% and 7 years to provide funds to repay state moneys distributed for temporary relocation expenses of the district. Permits issuance of bonds to finance school repairs. http://www.legis.state.il.us/legislation/publicacts/fulltext.asp?Name=093-0690 Title: H.B. 753 Source: Illinois Legislative Web site HI Signed into law 06/2004 P-12 Postsec. Community College Relates to special purpose revenue bonds for Island Pacific Academy. The legislature finds and determines that the planning and construction constitute a project as defined in part VIII, chapter 39A, Hawaii Revised Statutes, and the financing of such a project is to assist not-for-profit private nonsectarian and sectarian elementary schools, secondary schools, colleges, and universities serving the general public. http://www.capitol.hawaii.gov/sessioncurrent/bills/sb3086_cd1_.htm Title: S.B. 3086 Source: Hawaii Legislative Web site AZ Signed into law 06/2004 P-12 Removes the restriction on accommodation school districts located on a military base from issuing impact aid revenue bonds.  The district may hold an election to raise impact aid revenue bonds but may not issue the bonds until after the Federal Base Relocation and Closure Commission has affirmed that the base will remain open.  Additionally, the bill requires the Arizona Department of Education to put together a guidebook on the approved uses federal impact aid monies. http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/legtext/46leg/2r/laws/0313.htm Title: H.B. 2010 Source: Arizona Legislative Web site ID Signed into law 03/2004 P-12 Amends existing law relating to the Bond Levy Equalization Support Program to prohibit utilization of assistance pursuant to the program for projects previously subsidized by state grants; provides that an otherwise eligible school district shall not be deemed ineligible due to prior participation in safe school programs under certain conditions. http://www3.state.id.us/oasis/H0780.html#engr Title: H.B. 780 Source: Idaho Legislative Web site NM Partial Veto, November 2004 Ballot 03/2004 P-12 Postsec. Authorizes the issuance and sale of capital projects general obligation bonds to make capital expenditures for senior citizen facility improvements and acquisitions, for higher educational capital improvements and acquisitions, for water project improvements, for public library acquisitions, for kindergarten construction and renovation, for other state capital expenditures and for public school educational technology. http://legis.state.nm.us/newsite/_session.asp?chamber=H&type=++&number=294&year=04 Title: H.B. 294 Source: New Mexico Legislative Web site CA Approved by voters 03/2004 P-12 Postsec. Community College Enacts the Kindergarten - University Public Facilities Bond Act of 2004 for $12.3 million; funds education facilities to relieve overcrowding and repair of older schools; funds upgrade and new classrooms in the California Community Colleges, the California State University and the University of California to provide adequate higher education facilities to accommodate growing student enrollment; funds will be targeted to areas of greatest needs and must be spent according to strict accountability measures. http://vote2004.ss.ca.gov/Returns/prop/00.htm Title: Proposition 55 (AB 16) Source: California State Web site OH Did Not Pass 11/2003 Postsec. Constitutional Amendment that authorizes state and local governments to issue bonds and provide other financial assistance to support "science and technology based research and development purposes," including biomedical and other research, new product development and commercialization, capital formation, operating costs, and support for public and private institutions of higher education, research organizations, institutions or facilities, and private sector business and industry, as may be provided for by state or local law, but excluding purposes already provided for in Section 15 of Article VIII of the Ohio Constitution. http://serform.sos.state.oh.us/sos/results/2003/issue/lang.htm and http://election.sos.state.oh.us/Results/CountyBreakdownOracle.aspx Title: State Issue 1 Source: Ohio State Web site CO Signed by Governor 05/2003 P-12 Repeals the statutory provisions that prohibit a religious entity from receiving tax-exempt bond financing through the Colorado educational and cultural facilities authority. http://www.leg.state.co.us/2003a/inetcbill.nsf/fsbillcont/B8D12A394DB4C10487256CFC0059DA85?Open&file=1363_enr.pdf Title: H.B. 1363 Source: Colorado Legislative Web site ID Signed into law 04/2003 P-12 Relates to the school bond levy equalization support program to change the time limitations which govern certain bond and bond levy amounts; provides a special application of state payment provisions; requires reports by school districts. http://www3.state.id.us/oasis/H0319.html Title: H.B. 319 Source: State legislative web site AK Approved by voters 11/2002 P-12 State General Obligation Educational and Museum Facility, Design, Construction, and Major Maintenance Bonds $236,805,441. An Act relating to the issuance of general obligation bonds for the purpose of paying the cost of design, construction, and major maintenance of educational and museum facilities; and providing for an effective date. (http://www.gov.state.ak.us/ltgov/elections/02genr/bm02gen.htm) Title: Bonding Proposition C Source: Alaska Division of Elections CA Approved by voters 11/2002 P-12 Postsec. Kindergarten - University Public Facilities Bond Act of 2002. (http://www.ss.ca.gov/elections/elections_j.htm#2002General) Title: Proposition 47 Source: California Secretary of State NM Approved by voters 11/2002 P-12 Bonds B and C: Authorizes the issuance and sale of capital projects general obligation bonds for various capital expenditures including public education capital improvements and acquisitions. (http://www.sos.state.nm.us/Election/02General/GOEng.pdf) Title: General Obligation Bonds Source: New Mexico Bureau of Elections NV Rejected by voters 11/2002 P-12 The proposal to amend the Nevada Constitution would allow an exemption from the state debt limit for the improvement, acquisition or construction of public elementary and secondary schools. Approval of this proposal does not increase bonded indebtedness in the absence of subsequent legislative action. However, approval of additional bonded indebtedness by the Legislature as authorized by this measure could result in an indeterminate increase in property or other taxes to service that indebtedness. (http://sos.state.nv.us/nvelection/2002_bq/bq7.htm) Title: Ballot Question 7 Source: Nevada Elections Division OR Approved by voters 11/2002 P-12 (SJR 21) Amends Constitution: Authorizes State To Issue General Obligation Bonds For Seismic Rehabilitation Of Public Education Buildings (Defined) (http://sos-venus.sos.state.or.us:8080/elec_srch/web_irr_search.record_detail?p_reference=20020302..QSCYYY) Title: Measure 15 Source: Oregon Elections Division VA Approved by voters 11/2002 P-12 Approving general obligations bonds authorized by Chapters 827 and 859, Acts of the General Assembly of 2002 in the maximum amount of $900,488,645 according to Article X, Section 9(b) of the Constitution of Virginia for capital projects for educational facilities; relates to state-supported colleges, universities, museums and other educational facilities. Title: Bond Issue, Question 1 Source: Virginia State Board of Elections MI Signed into law 04/2002 P-12 Amends a section of the Revised School Code relating to a school district's bond authority to fund a deficit. Title: H.B. 5415 Source: Lexis-Nexis/StateNet ME Signed into law 04/2002 P-12 Authorizes a $28,500,000 General Fund bond issue to capitalize the School Revolving Renovation Fund, to provide grants to public educational institutions to install sprinkler systems in dormitories, to renovate the Harlow Office Building and to provide a center for homeless teenagers. http://janus.state.me.us/legis/bills/billdocs/LD212801.doc Title: H.B. 1628 Source: janus.state.me.us AL Act No. 03/2002 P-12 Authorizes Public School and College Authority to sell and issue aggregate principal amount of Bonds, in addition to all other bonds previously issued by the Authority; provides funds to pay the cost of workforce development, education and training and the acquisition and construction of training facilities and equipment for the benefit of companies that engage in the business of manufacturing or assembling certain vehicles.http://alisdb.legislature.state.al.us/acas/searchableinstruments/2002rs/bills/sb517.htm Title: S.B. 517 Source: alisdb.legislature.state.al.us ID Signed into law 03/2002 P-12 Amends existing law to authorize the pledge of state sales tax moneys for payment of refunding school bonds issued on and after March 1, 1999, for voter approved bonds which were voted upon by the electorate prior to March 1, 1999. Title: S.B. 1424 Source: Lexis-Nexis/StateNet MI Signed into law 03/2002 P-12 Makes a technical amendment to the section of the Revised School Code relating to school district borrowing and bond authority. Title: H.B. 5414 Source: Lexis-Nexis/StateNet MI Signed into law 03/2002 P-12 Amends the provision of law relating to the bond authority an intermediate school district in which an area vocational-technical education program is established under the Revised School Code. Title: H.B. 5408 Source: Lexis-Nexis/StateNet MI Signed into law 03/2002 P-12 Amends a section of the provision of law related to school district bond authority under the Revised School Code. Title: H.B. 5407 Source: Lexis-Nexis/StateNet MI Signed into law 03/2002 P-12 Makes a technical amendment to the Revised School Code relating to the bonding or borrowing authority of school districts. Title: H.B. 5413 Source: Lexis-Nexis/StateNet MS Signed into law 03/2002 P-12 Relates to school board investment of surplus funds; provides they may be invested in the same manner as 16th Section funds. Title: S.B. 2695 Source: Lexis-Nexis/StateNet RI Became law without GOVERNOR'S signature 07/2000 P-12 Relates to municipal public building authorities; provides that in calculating the limitations of revenue bonds, there shall not be included in the calculation 50% of the outstanding principal amount of any bond issued for projects for which the authority or municipality recieves school housing aid. Title: S.B. 3067 Source: Lexis-Nexis/StateNet