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OK SB279
Bill
AI Summary
SB279 Summary
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Amends school district bonding authority to allow bonds issued for maintenance of school equipment in addition to purchase of equipment.
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Expands the definition of "equipment" eligible for school bonding to include electronic and tablet reading devices, along with existing items like library books, textbooks, computer software, and telecommunications devices.
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Permits bonds for equipment purchases to mature within five years, or longer if the bond maturity does not exceed the effective life of the equipment being purchased.
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Takes effect July 1, 2011, with emergency provisions allowing immediate implementation upon passage and approval.
Legislative Description
An act relating to school bonds; allowing bonds to be issued for the purchase of certain equipment; defining equipment; adding certain items. Effective date. Emergency.
Revenue and Taxation
Last Action
CR; Do Pass Appropriations and Budget Committee
4/6/2011