Proposing to amend the constitution of the state of Kansas by allowing the legislature to contract public debt and pledges to the payment thereof the full faith, credit and taxing power of the state and giving the legislature authority over all matters concerning the contracting of public debt.
Impact
The proposed amendment seeks to enhance the state’s ability to optimize debt costs, potentially reducing interest rates on new and outstanding debt obligations. By allowing the legislature to take a more active role in contracting public debt, the amendment aims to improve financial efficiency and service. This change is expected to have a significant impact on how the state funds various projects and services, enabling more strategic financial planning and execution from state leaders.
Summary
SCR1612 proposes an amendment to the Kansas Constitution aimed at modernizing the existing public debt laws established in 1861. The key provision allows the state legislature to directly contract public debt, thereby pledging the full faith, credit, and taxing power of the state for the repayment of such debt. This amendment is designed to create a more flexible financial environment that enables the legislature to manage state financial obligations more effectively, including the issuance of general obligation bonds and revenue bonds.
Contention
While the bill purports to modernize the financial mechanisms of the state, there may be points of contention regarding the implications of expanding legislative authority over public debt. Critics may argue that this increased flexibility could lead to excessive borrowing or fiscal irresponsibility, potentially impacting the state’s long-term financial health. The debate surrounding SCR1612 will likely focus on the balance between enhancing financial capability and maintaining prudent fiscal management to avoid over-leveraging state resources.
Proposing to amend the constitution of the state of Kansas to authorize the legislature to provide for the classification and taxation of all-terrain vehicles.
Constitutional amendment proposing the Kansas Citizen Involvement Amendment to reserve the powers of initiative and referendum to the citizens of Kansas.
Proposing to amend the constitution of the state of Kansas to decrease the assessed value for real property used for residential purposes to 10 1/2% for 2025 and 9 1/2% for 2026 and each year thereafter.
Proposing a constitutional amendment to repeal section 16 of article 15 of the constitution of the state of Kansas that requires marriage to be between individuals of the opposite sex.
Proposing a constitutional amendment to provide authority to the legislature to limit property tax increases for residential property that is owned by and the principal place of residence of lawful permanent residents of Kansas who are 62 years of age or older or disabled or to exempt such property from ad valorem taxation.
Proposing a constitutional amendment to require that vacancies in the offices of the secretary of state and the attorney general be filled by election at a state party delegate convention.
A resolution to direct the Clerk of the House of Representatives to only present to the Governor enrolled House bills finally passed by both houses of the One Hundred Third Legislature.