SB 1034
Creates provisions relating to bonded indebtedness of school districts
LR Number:
Last Action:
3/1/2022 - Second Read and Referred S Education Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2022

Current Bill Summary

SB 1034 - Under this act, any school district that receives voter approval for the issuance of bonds shall maintain a detailed accounting of each and every expenditure by the school district for the moneys generated by such issuance. School districts shall be required to maintain a budget for each project and the budget shall detail the exact cost of the project and the source of all moneys used to fund the project. All information in the budget shall be maintained and updated on the website of the school district and shall be publicly available.

Any project undertaken by a school district shall be halted immediately upon exceeding the budgeted amount of moneys to complete such a project by more than ten percent. The continuation of the project shall not occur until the school district receives voter approval for the issuance of further bond indebtedness specifically for such project.

Any taxpayer residing within a school district that violates the provisions of this section may seek, and a court shall order, injunctive relief against such school district in any court of competent jurisdiction to enforce the provisions of this section.

This act is similar to a provision in the truly agreed SS/SCS/SB 724 (2022).



No Amendments Found.