HCS HJR 32 -- FUNDING FOR EDUCATION (Kelly)

COMMITTEE OF ORIGIN:  Special Committee on Infrastructure and
Transportation Funding

Upon voter approval, this proposed constitutional amendment
authorizes the General Assembly to issue up to $700 million in
bonds to provide funding for rebuilding higher education
institution buildings including no less than 15% of the proceeds
to be allocated to public community college colleges for land
acquisitions, construction or purchase of buildings, and
planning, furnishing, equipping, and landscaping the improvements
and buildings.  The bonds may be issued over time by the State
Board of Fund Commissioners and will mature within 25 years from
the date of issuance.  The substitute creates the Fifth State
Building Bond and Interest Fund for the payment of the bonds and
any interest earned.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of $0 in
FY 2010, $0 or Unknown less than $54,908,703 in FY 2011, and $0
or Unknown less than $54,760,703 in FY 2012.  No impact on Other
State Funds in FY 2010, FY 2011, and FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am