House Sponsors: LINDNER. Short description: SCHOOLS-CDB-CONSTRUCTION GRANT Synopsis of Bill as introduced: Amends the Capital Development Board Act to provide for school construction grants to be made to school districts from funds appropriated from the School Improvement Bond Fund, on a one-half to one-fifth matching grant basis, by region, over at least a 10-year period. Amends the General Obligation Bond Act to increase the State's bonding authority by $3,000,000,000 for school construction grants. Provides that the proceeds from the sale of the bonds shall be deposited into the School Improvement Bond Fund. Amends the State Finance Act to create the School Improvement Bond Fund. Effective July 1, 1998. STATE DEBT NOTE HB 2303 would increase: General obligation principal by $3,000 billion Potential general obligation debt by $5,591 billion Annual debt service payments by $223.7 billion Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status