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Sponsor proposes cap on bonding backed by legacy earnings to limit long‑term commitments
Summary
Representative Keith Kepnick told the committee House Bill 14‑35 would set limits on how much of legacy fund earnings can be pledged to bond payments, aiming to avoid overcommitting long‑term legacy earnings; discussion focused on percentages, five‑year smoothing and interaction with other property tax and bonding proposals.
Representative Keith Kepnick presented House Bill 14‑35 to the House Finance and Tax Committee, proposing parameters for bonding that would be paid from legacy‑fund earnings and seeking to limit the state’s long‑term commitments backed by those earnings.
Kepnick explained the bill would tie bond debt service capacity to a capped percentage of legacy fund annual earnings (a sinking interest or debt‑service allocation). Using the fund snapshot in the draft…
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