Missouri State Senate

Senate Committee Substitute

SCS/SB 723 - Currently, there is a $775 million cap on the amount of revenue bonds that may be issued by the State Board of Public Buildings. This act raises the cap by $400 million to $1.175 billion. Bonds that may be issued due to the increase in the cap may only be used for renovation or repair of existing buildings or facilities, except that bonds may be issued for the construction of a new mental health facility in Callaway County.

Currently, there is also $175 million cap on the amount of revenue bonds that may be issued by the State Board of Public Buildings for projects at public institutions of higher education. This act raises the cap by $200 million to $375 million. Bonds that may be issued due to the increase in the cap may only be used for renovation or repair of existing buildings or facilities.

MIKE HAMMANN

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