This bill amends Section 33-1103 of the Idaho Code, which pertains to the issuance of school bonds. The key change involves increasing the maximum bond issuance limit for certain school districts. Specifically, elementary school districts that employ at least six teachers or operate both elementary and secondary schools can now issue bonds up to eight percent (8%) of the market value for assessment purposes, an increase from the previous limit of five percent (5%). Other school districts are still limited to a maximum of two percent (2%) of the market value for assessment purposes.

Additionally, the bill establishes that the market value for assessment purposes, aggregate outstanding indebtedness, and unexhausted debt-incurring power of the district will be determined as of the date of approval by the electors in the school bond election. The bill also declares an emergency, making it effective immediately upon passage and retroactively applicable from January 1, 2025.

Statutes affected:
Bill Text: 33-1103