H.J.R. No. 9 Summary

• Proposes a constitutional amendment to authorize issuance of up to $1.875 billion in state general obligation bonds for public infrastructure capital improvements.

• Permits state participation through grants, loans, or contributions to municipal corporations, counties, townships, and other governmental entities for roads, bridges, water systems, wastewater treatment, solid waste disposal, and storm water facilities.

• Limits bond issuance to $175 million per year for the first five fiscal years and $200 million per year for the next five fiscal years, with carryover of unused authorization allowed, and requires all Section 2p infrastructure obligations to be issued first.

• Requires bonds to mature within 30 years from issuance, pledges the state's full faith and credit for debt service, and exempts the bonds and their income from state taxation.

• Proposes submission of the amendment to voters at a special election on May 6, 2014, taking effect immediately upon approval by a majority of voting electors.