09 September 2005

SB 4 dies on the vine

The legislature ended its short session last night without SB 4 coming to a vote, which means any proponents will have to try again next year. As I noted earlier, the bill went through some major changes in terms of the bond approval mechanism, effectively neutering it. This effectively keeps the status quo, where groups looking for tax-free bond financing will have to go strictly through municipalities and joint powers authorities, and if public sources are required such as taxes, votes will be required.