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MO SB330
Bill
Status
1/27/2015
Primary Sponsor
Mike Parson
Click for details
AI Summary
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Increases the cap on revenue bonds for state building projects from $1.175 billion to $1.85 billion, with bonds issued above the August 27, 2014 limit required to mature within 20 years
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Creates new "renovation bonds" (sections 8.950-8.962) for maintenance, repair, or renovation of state-owned property, capped at $325 million total par value with interest rates not exceeding 10% annually
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Requires Committee on Legislative Research approval (majority of House and Senate members) before issuing bonds for any project under both existing and new bonding authorities
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Prohibits extension of existing bonds or additional bonding authority to the executive branch without legislative or voter approval
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Includes an emergency clause for provisions related to executive branch bonding restrictions and regional convention/sports complex authority funding
Legislative Description
Modifies provisions relating to bond issuance
Last Action
Hearing Conducted H Select Committee on Budget
4/29/2015