Last Action | 04/09/24: signed by Governor (Acts Ch. 126) |
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Title | AN ACT relating to school district buildings. |
Bill Documents |
Acts Chapter 126
Current/Final Introduced |
Bill Request Number | 2115 |
Sponsor | M. Meredith |
Summary of Enacted Version | Amends KRS 160.160 to authorize a school district to issue general obligation bonds in accordance with KRS Chapter 66, to authorize the Kentucky Department of Education (KDE) to intercept debt service payments when due for a general obligation bond issue, to make conforming amendments, to add language to suspend the requirement for prior approval for a local board to commence the funding, financing, design, construction, renovation, or modification of district facilities until June 30, 2027, to require a local board to continue to submit BG-1 Project Application forms, to ensure that KDE shall continue to have authority to intercede on bond payments until June 30, 2027, to provide for an expedited process for approval of district facility plans and the acquisition and disposal of property, to require that KDE provide assistance to districts upon request concerning facilities and properties procedures, to ensure current applications are governed by these sections, to includes extracurricular facilities as facilities covered by the Act, and to declare that nothing in specified sections waives prior approval of Elementary and Secondary School Emergency Relief funds or other federal funds for which federal law requires state authorization; and creates a new section of KRS Chapter 162 to allow school districts to issue general obligation bonds. |
Summary of Original Version | Create a new section of KRS Chapter 162 to allow school districts to issue general obligation bonds and obtain bank loans; amend KRS 160.160 require the approval of the Department of Education prior to a school district obtaining a bank loan or issuing general obligation bonds; require general obligation bonds to be entered into through advertising or competitive bidding; provide for the department to intercept funds for a payment due on a general obligation bond; make conforming amendments. |
Index Headings of Original Version |
Education, Elementary and Secondary - School districts, general obligation bonds, issuance Education, Finance - School districts, general obligation bonds, issuance State Agencies - Department of Education, general obligation bonds, interception of funds Bonds, Public - School districts, general obligation, issuance |
Jump to Proposed Amendments |
House Committee Substitute 1 House Floor Amendment 1 House Floor Amendment 2 House Floor Amendment 3 |
Votes | Vote History |
02/26/24 |
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03/05/24 |
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03/06/24 |
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03/07/24 |
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03/11/24 |
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03/12/24 |
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03/13/24 |
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03/21/24 |
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03/26/24 |
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03/27/24 |
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03/28/24 |
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04/09/24 |
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Amendment | House Committee Substitute 1 |
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Summary | Retain original provisions; remove bank loan language throughout; amend KRS 66.011 to remove the exclusion of school districts from the definition of taxing district. |
Index Headings |
Education, Finance - School districts, general obligation bonds, issuance Special Districts - School districts, general obligation bonds, issuance |
Amendment | House Floor Amendment 1 |
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Sponsor | R. Duvall |
Summary | Amend to add language to suspend the requirement for prior approval for a local board to commence the funding, financing, design, construction, renovation, or modification of district facilities until June 30, 2027; require a local board to continue to submit BG-1 Project Application forms; ensure the Department of Education shall continue to have authority to intercede on bond payments; until June 30, 2027, provide for an expedited process for approval of district facility plans and the acquisition and disposal or property; require the department to provide assistance to districts upon request concerning facilities and properties procedures; ensure current applications are governed by the sections; include extracurricular facilities as facilities covered by the Act; declare that nothing in specified sections waive prior approval of ESSER funds or other federal funds for which federal law requires state authorization. |
Index Headings |
Education, Elementary and Secondary - School facilities construction, prior approval Education, Elementary and Secondary - School property purchase and disposal, prior approval Education, Finance - School facilities construction, prior approval Education, Finance - School property purchase and disposal, prior approval Housing, Building, and Construction - School facilities construction, prior approval Housing, Building, and Construction - School property purchase and disposal, prior approval Property - School property purchase and disposal, prior approval Public Buildings and Grounds - School facilities construction, prior approval Public Buildings and Grounds - School property purchase and disposal, prior approval Real Estate - School property purchase and disposal, prior approval State Agencies - Kentucky Department of Education, school facilities and property procedures Capital Construction - School facilities construction, prior approval, suspend Boards and Commissions - Kentucky Board of Education, facilities and properties regulations, modification Sunset Legislation - Modified school facilities and property procedures, June 30, 2027 |
Amendment | House Floor Amendment 2 |
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Sponsor | M. Meredith |
Summary | Amend to authorize the general issuance of bonds, provide for the issuance of bonds through KRS Chapter 66, and make technical changes. |
Index Headings |
Technical Corrections - Technical Correcrtions Education, Elementary and Secondary - School districts, general obligation bonds, issuance Education, Finance - School districts, general obligation bonds, issuance |
Amendment | House Floor Amendment 3 |
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Sponsor | M. Meredith |
Summary | Amend to authorize the general issuance of bonds, provide for the issuance of bonds through KRS Chapter 66, remove a requirement that the bond issue be approved by the Kentucky Department of Education, and make technical changes. |
Index Headings |
Education, Elementary and Secondary - School districts, general obligation bonds, issuance Education, Finance - School districts, general obligation bonds, issuance State Agencies - Kentucky Department of Education, school district general obligation bonds, approval Technical Corrections - Technical Corrections |
Last updated: 9/26/2024 1:37 PM (EDT)