MN SF1362

Prohibits school districts from using certain levies to increase net instructional space within five years of closing a schoolhouse, unless approved by voter referendum.

Requires debt obligations (certificates of indebtedness, certificates of participation, and general obligation bonds) for projects requiring review under section 123B.71 to be spent only on purposes consistent with submitted information.

Restricts bond proceeds to purposes stated in ballot language or to pay, redeem, or defease obligations; any expansion or change requires majority voter approval.

Applies consistency requirements to school district bond proceeds issued under section 475.58 for projects requiring review and comment under section 123B.71.

Section 4 becomes effective July 1, 2017.