DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 608 Engrossed 2015 Regular Session Jackson
Abstract: Permits, with voter approval, certain school districts to incur bonded debt that exceeds
10% but does not exceed 50% of the assessed valuation of the taxable property within the
geographic boundaries of the district.
Present law (R.S. 39:554) provides that the governing authorities of school districts may incur debt
and issue bonds of the districts for the following purposes and none other: acquiring or improving
lands for building sites and playgrounds, including construction of necessary sidewalks and streets;
purchasing, erecting and/or improving school buildings, teachers' homes, and other school related
facilities, and acquiring the necessary equipment and furnishings therefor. Proposed law retains
present law.
Relative to a limit on the indebtedness of local school boards, generally:
Present law (R.S. 39:562(B)) provides that no debt shall be incurred and general obligation bonds
issued therefor for any one of the purposes provided by present law which, including the existing
bonded debt (with specified exceptions) shall exceed in the aggregate 10% of the assessed valuation
of the taxable property within the school district, including both homestead exempt property and
certain nonexempt property.
Proposed law authorizes a school district in any parish having a population of between 149,000 to
184,000 persons at the time any bonds are issued, with the approval of a majority of the voters, to
incur debt and issue bonds for the purposes specified in R.S. 39:554 which may exceed 10% but
shall not exceed 50% of the assessed valuation of the taxable property within the geographic
boundaries of the school system, including each of the following:
(1)Homestead exempt property, which must be included on the assessment roll for the purpose
of calculating debt limitation.
(2)Nonexempt property, as ascertained for local purposes by the last assessment of property
within the geographic boundaries of the school system governed by the board prior to the
delivery of the bonds representing the debt, regardless of the date of the election at which
said bonds were approved.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:562(Q))