HCS HB 1904 -- MISSOURI HOUSING DEVELOPMENT COMMISSION

SPONSOR:  Deeken (Cox)

COMMITTEE ACTION:  Voted "do pass by consent" by the Special
Committee on Government Affairs by a vote of 7 to 0.

Currently, the Missouri Housing Development Commission cannot
have outstanding bonds or notes in an aggregate principle amount
exceeding $200 million at any one time.  This substitute
specifies that any conduit revenue bonds or notes of the
commission on which the payment of all debt service is the
responsibility of an approved mortgagor will not be included in
the indebtedness limitation.

FISCAL NOTE:  No impact on state funds in FY 2009, FY 2010, and
FY 2011.

PROPONENTS:  Supporters say that conduit revenue bonds are not a
liability to the state or the commission and should not be
subject to the debt limits.

Testifying for the bill were Representative Cox; and Pete Ramsel,
Missouri Housing Development Commission.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm