House Bill 727

Actions | Amendments
Last Action 04/09/24: signed by Governor
Title AN ACT relating to school district buildings.
Bill Documents Current/Final
Introduced
Bill Request Number 2115
Sponsor M. Meredith
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

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: 4/22/2024 3:57 PM (EDT)