Public indebtedness; Bond Issue Proceeds Act; expenditure of certain allocated monies; like-kind projects prohibition; effective date.

HB 1399 requires that for bond issues needing property tax increases or state credit, election materials must detail specific projects and costs for 70% of the bond funds, with the remaining 30% unallocated. After approval, entities must spend at least 70% of bond funds on the listed projects, but if a project costs less, savings can be used for other projects within the same category. School districts must post all bond project details online before and during the bond period, and cannot replace approved projects without a 60% voter vote. The bill takes effect November 1, 2025.