The bill establishes a new limitation on the issuance of bonds for certain projects in Iowa. Specifically, for projects where a proposition to issue bonds is approved at an election held after July 1, 2025, the total amount of bonds that can be issued will be capped at 80 percent of the total project cost. This means that the remaining 20 percent of the project's funding must come from sources other than bond sales.

This legislative change aims to ensure that a significant portion of project funding is sourced from alternatives to bond sales, potentially reducing the financial burden on taxpayers and promoting fiscal responsibility. The bill does not include any deletions from current law but introduces this new section to regulate future bond issuances more strictly.