HB 6055 Summary

• Authorizes issuance of general obligation bonds not to exceed $1,000,000,000 with state's full faith and credit pledged for repayment.

• Bond proceeds designated for environmental, natural resources, and public health programs including lead contamination abatement in water systems and homes, water source replacement, wastewater inspection and repair, dam removal, nonpoint source pollution prevention, and contaminated property cleanup.

• Requires submission of bond question to state electors at the next general November election with approval by majority vote before bonds can be issued.

• Bond proceeds, premiums, accrued interest, and earnings must be deposited in state treasury and expended only for authorized purposes including bond issuance expenses.

• Requires annual appropriation from general fund to pay principal, interest, and incidental costs of bonds as they become due.