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MO HJR73
Joint Resolution
Status
1/30/2014
Primary Sponsor
Caleb Jones
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AI Summary
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Authorizes the General Assembly to contract up to $1.2 billion in state debt through bond issuance for the Fifth State Building Fund, with bonds retired over 25 years.
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Allocates bond proceeds as follows: $600 million maximum for higher education construction and renovation (including minimum 20% for community colleges), $100 million for Missouri State Capitol building project, minimum $40 million for state parks, and up to $200 million for mental health facilities capital improvements.
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Requires matching funds of at least 15% from higher education institutions and non-state projects receiving bond proceeds.
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Creates a Taxpayer Protection Commission with five members to oversee all bond appropriations, project expenditures, contract compliance, and annual reporting to state officials.
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Excludes bond revenue from "total state revenues" and "expenses of state government" calculations under Article X of the Missouri Constitution; submitted to voters at the general election on Tuesday following the first Monday in November 2014.
Legislative Description
Proposes a constitutional amendment authorizing the General Assembly to issue bonds to fund higher education improvements, State Capitol repairs, state park maintenance, and mental health facility improvements
Last Action
Referred: Budget(H)
2/5/2014