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MO SB330

Bill

Status

Introduced

1/27/2015

Primary Sponsor

Mike Parson

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • 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

  • 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

  • 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

  • Prohibits extension of existing bonds or additional bonding authority to the executive branch without legislative or voter approval

  • 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

Committee Referrals

Select Committee on Budget4/27/2015
Governmental Accountability & Fiscal Oversight2/12/2015

Full Bill Text

No bill text available