An Act to Extend the Maximum Time Period for Certain School Construction Bonds
Sponsored By: Teresa S. Pierce (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
School districts can stretch bonds to 30 years
The law extends the maximum term for certain school construction financing from 25 to 30 years. It applies when bond money is used to pay temporary notes or renewals. The combined period is the time the bonds are outstanding plus the note loan period. Districts can choose a longer payoff, which can lower yearly debt payments. But the debt lasts longer and total interest can be higher, which may affect property taxes.
Sponsors & Cosponsors
Sponsor
Teresa S. Pierce
Democratic • Senate
Cosponsors
Anne Graham
Democratic • House
Christina Mitchell
Democratic • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Signed by Governor, ACTPUB Chapter 197
6/9/2025PASSED TO BE ENACTED, in concurrence.
6/2/2025SenatePASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
6/2/2025HouseReports READ.On motion of Representative MURPHY of Scarborough, the Majority Ought to Pass as Amended Report was ACCEPTED.The Bill was READ ONCE.Committee Amendment "A" (S-154) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-154). In concurrence. ORDERED SENT FORTHWITH.
5/29/2025HouseReports READ On motion by Senator RAFFERTY of York The Majority Ought to Pass As Amended Report ACCEPTED. Bill READ ONCE Committee Amendment "A" (S-154) READ and ADOPTED. Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (S-154) Sent down for concurrence
5/28/2025SenateCARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
3/21/2025SenateReceived by the Secretary of the Senate on January 16, 2025 and REFERRED to the Committee on EDUCATION AND CULTURAL AFFAIRS pursuant to Joint Rule 308.2
1/16/2025Senate
Bill Text
Amendment C-A (S-154), adopted by House & Senate
Enacted
Introduced
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