Proposing to amend the constitution of the state of Kansas by allowing the legislature to contract public debt and pledges to the payment thereof the full faith, credit and taxing power of the state and giving the legislature authority over all matters concerning the contracting of public debt.

This bill proposes to amend the Kansas Constitution to allow the state legislature to borrow money by pledging the state's full faith, credit, and taxing power. Currently, the state is restricted in its ability to issue certain types of debt, such as general obligation bonds, which are often used to secure lower interest rates. If passed, the legislature would gain the authority to decide when and how to incur this debt, provided they determine it is cost-effective and efficient for the state. The change would also give the legislature control over all rules regarding the issuance of public debt, including the types of bonds that can be sold. This amendment would not take effect until the 2026 legislative session.