HB2739 - School District Debt Control and Taxpayer Protection Act

• School districts cannot refinance debt beyond the original repayment period when the debt was issued.

• School districts cannot issue debt with a service period exceeding 20 years.

• School districts cannot issue capital appreciation bonds (debt without annual or semiannual principal and interest payments).

• School districts cannot incur total debt exceeding 13.8% of taxable property value, and districts exceeding this limit are prohibited from incurring new debt until falling below the limit.

• School districts may issue new debt after the effective date only if a referendum authorizing that debt was passed before the Act's effective date.