HB 14-1190 Summary

• Modifies factors used to determine school districts' and cooperative services' financial capacity for matching funds under the Building Excellent Schools Today Act.

• Replaces the prior factor measuring voter ballot efforts with two new factors: current available bond capacity remaining and unreserved fund balance as a percentage of annual budget.

• Retains voter approval effort as a separate factor that can only reduce (not increase) matching money requirements for districts or cooperatives that have pursued bonded indebtedness or sublease-purchase agreements in the ten years prior to application.

• Applies the same modified criteria to boards of cooperative services, using average available bond capacity and average unreserved fund balance of all participating members.

• Declares the act necessary for immediate preservation of public peace, health, and safety.