SS SCS SB 718 -- ISSUANCE OF STATE LOANS

This bill authorizes the Missouri Development Finance Board, the
Missouri Health and Education Facilities Authority, the Missouri
Higher Education Loan Authority, the Missouri Housing Development
Commission, and the Environmental Improvement and Energy
Resources Authority to approve a loan request only if the means
of repayment is readily ascertainable and reliable.  With the
exception of annual appropriation debt for state-owned property,
entities cannot approve a request if the means of repayment is
contingent upon state funding that has not been granted unless
the project has been approved by a concurrent resolution of the
General Assembly or similar legislative directive or approval.

The Jobs Now Fund is included in the list of funds from which a
loan may be requested from the Missouri Development Finance
Board.

Currently, the State Board of Public Buildings cannot issue
revenue bonds for the acquisition of office buildings for one or
more projects in excess of a total par value of $655 million.
The bill increases the limit to $775 million.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:46 am