House Bill 727

Actions | Amendments
Last Action 04/09/24: signed by Governor (Acts Ch. 126)
Title AN ACT relating to school district buildings.
Bill Documents 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.
Legislative History
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

Actions

Top | Amendments
02/26/24
  • introduced in House
  • to Committee on Committees (H)
03/05/24
  • to Banking & Insurance (H)
03/06/24
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1)
  • floor amendment (1) filed to Committee Substitute
03/07/24
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, March 08, 2024
03/11/24
  • floor amendments (2) and (3) filed to Committee Substitute
03/12/24
  • 3rd reading, passed 95-0 with Committee Substitute (1) and Floor Amendments (1) and (3)
03/13/24
  • received in Senate
  • to Committee on Committees (S)
03/21/24
  • to Banking & Insurance (S)
03/26/24
  • reported favorably, 1st reading, to Consent Calendar
03/27/24
  • 2nd reading, to Rules as a consent bill
  • posted for passage in the Consent Orders of the Day for Thursday, March 28, 2024
03/28/24
  • 3rd reading, passed 38-0
  • received in House
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/09/24
  • signed by Governor (Acts Ch. 126)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
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
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
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
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: 6/13/2024 7:47 AM (EDT)