Bill
Bill > HB1187
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Localities; issuance of bonds for capital projects for school purposes. Permits the governing body of any locality, with the consent of the school board and consistent with relevant provisions of law, to (i) issue bonds to finance all or any portion of any capital project for school purposes in the school division and (ii) use all or any portion of any federal, state, or local grant secured by the governing body of the locality or the school board to cover principal and debt service payments on such bonds.
AI Summary
This bill allows local governments, with the agreement of their school boards and following existing financial laws, to issue bonds to pay for school construction or renovation projects, and to use any federal, state, or local grants they receive to help pay back the money borrowed and the interest on those bonds. The Public Finance Act, referenced in the bill, is a set of laws that governs how local governments can borrow money.
Committee Categories
Education
Sponsors (1)
Last Action
Left in Education (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB1187 |
| BillText | https://lis.virginia.gov/bill-details/20261/HB1187/text/HB1187 |
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