Bonding Bill and Foundation Formula

Rep. Scott Fitzpatrick – who raised the issue of taxing power in the bonding bill – was able to make a substantial change to the bill.


The original language included a reference to “education.”  (“If at any time after the issuance of any of the bonds, it shall become apparent to the commissioner of administration that the funds available in the state general revenue fund will not be sufficient for the payment of the sinking fund and interest on outstanding obligations of the state and for the purpose of public education…”)


The argument could be made that with the state currently not fulfilling its obligation to fully funding the foundation formula, that a tax should be levied to make the formula funding whole.


Fitzpatrick withdrew the amendment that struck that whole section, but did pass an amendment to strike the “education” portion of the language.


Originally in April 8 MOScout.