MO HB1946

Allows school districts meeting specified criteria to increase general obligation bonded indebtedness from 15% to up to 20% of assessed valuation under a constitutional amendment.

Requires districts to be financially healthy (not currently or recently financially stressed) and seeking funds for education-related facility construction or modernization.

Establishes three pathways for districts to qualify: rapid growth districts with 2%+ annual average daily attendance growth, smaller districts with assessed valuation under $100 million, or larger districts with lower per-pupil assessed valuation.

Mandates at least 14 days' notice and a public hearing at least 7 days before the board votes to place a bonding question on the ballot.

Requires districts under subsections 3 and 4 to obtain bonding company verification that they lack capacity to fund major facility upgrades or construction projects through existing debt limits.