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MO HB1215

Bill

Official Source

Status

Introduced

3/11/2015

Primary Sponsor

Caleb Rowden

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Requires General Assembly approval by concurrent resolution before the Board of Public Buildings can issue new revenue bonds under sections 8.370 to 8.450
  • Exempts bonds issued for refunding existing debt from the new approval requirement
  • Maintains existing requirements including the $1.175 billion cap on total par value of revenue bonds
  • Preserves current bond terms: maximum 15% annual interest rate, up to 40-year maturity, and minimum sale price of 98% of par value plus accrued interest
  • Retains existing requirement that projects must be approved by a majority of both House and Senate members of the Committee on Legislative Research

Legislative Description

Requires approval by the General Assembly before the Board of Public Buildings may issue revenue bonds for state office building projects, except for refunding of existing debt

Last Action

Referred: Select Committee on Budget(H)

5/15/2015

Committee Referrals

Select Committee on Budget5/15/2015

Full Bill Text

No bill text available