HJR 1089 Summary

• Proposes a constitutional amendment (new Section 26A to Article X) allowing school districts to incur debt up to 2% of taxable property valuation with voter approval via 3/5 majority.

• Debt authorization is limited to acquiring, constructing, or improving facilities for weather shelter or student/employee security purposes.

• Indebtedness is in addition to existing constitutional debt limitations and must be repaid within 25 years through annual tax collections for interest and sinking fund.

• Voter assent is deemed sufficient showing of need unless otherwise provided by law; taxable property valuation based on last assessment prior to debt incurrence.

• For counties with exemptions on household goods and livestock from property taxes, the debt percentage limit is adjusted by the millage adjustment factor under Article X, Section 8A.