Summary of the Introduced Bill

HJR 77 -- Funding for Education

Sponsor:  Kelly

Upon voter approval, this proposed constitutional amendment
authorizes the General Assembly to issue up to $800 million in
bonds to provide funding for the construction of state buildings,
facilities, and projects for purposes other than higher education
and for rebuilding higher education institution buildings
including no less than 15% of the proceeds to be allocated to
public community colleges for land acquisitions; construction or
purchase of buildings; and planning, furnishing, equipping, and
landscaping the improvements and buildings.  No more than $250
million of the proceeds can be allocated for construction other
than for higher education.  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 amendment creates the Fifth
State Building Fund for the payment of the bonds and any interest
earned.  The Governor must develop a percentage plan for
application by African Americans, women, and other minority
businesses in all state bond programs and for employment
opportunities in the state construction building plan.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:14 pm