SJR 4

As Introduced
136th General Assembly
    Regular Session  S. J. R. No. 4
       2025-2026
  Senator Brenner
  A JOINT RESOLUTION
  Proposing to enact Section 12 of Article VIII of the  1
  Constitution of the State of Ohio to conditionally  2
  authorize the issuance of state obligations to refund        3
  pending school district obligations, to conditionally        4
  waive, beginning in 2027, the requirement that schools       5
  levy property taxes to pay debt charges on their  6
  obligations, and to conditionally authorize a treasury       7
  fund that is restricted exclusively to educational  8
  purposes.  9
     Be it resolved by the General Assembly of the State of  10
Ohio, three-fifths of the members elected to each house  11
concurring herein, that there shall be submitted to the electors  12
of the state, in the manner prescribed by law at the general  13
election to be held on November 3, 2026, a proposal to enact  14
Section 12 of Article VIII of the Constitution of the State of  15
Ohio to read as follows:  16
  ARTICLE VIII  17
      Section 12. (A)(1) Notwithstanding Section 3 of this  18
article, the General Assembly may provide by law, subject to the  19
limitations of and in accordance with this section, for the  20
S. J. R. No. 4  Page 2
As Introduced
issuance of bonds and other obligations of the state to refund  21
obligations issued on or before November 3, 2026, of school  22
districts, county school financing districts, career-technical  23
cooperative education districts, regional student education  24
districts, and partnerships consisting of multiple school  25
districts, notwithstanding the applicability to those  26
obligations of Section 11 of Article XII of the Constitution of  27
the State of Ohio. This section shall be implemented in the  28
manner and to the extent provided by the General Assembly by  29
law, including provision for procedures for incurring,  30
refunding, retiring, and evidencing state obligations issued  31
pursuant to this section. Obligations issued under this section,  32
including obligations issued to refund or retire other  33
obligations issued under this section, shall mature not later  34
than the thirty-first day of December of the twentieth calendar  35
year after the year in which the original obligation to pay was  36
issued or entered into. The total principal amount of  37
obligations issued under this section shall be as determined by  38
the General Assembly and shall not be subject to the limitation  39
provided for in Section 17 of this article.  40
        (2) Obligations issued under this section are general  41
obligations of the state. The full faith and credit, revenue,  42
and taxing power of the state shall be pledged to the payment of  43
the principal of and premium and interest and other accreted  44
amounts on outstanding obligations as they become due  45
(hereinafter called debt service). For the purpose of the full  46
and timely payment of that debt service, appropriate provisions  47
shall be made or authorized by law for bond retirement funds and  48
for the sufficiency and appropriation of excises, taxes, and  49
revenues so pledged to that debt service, for which purpose no  50
further act of appropriation shall be necessary notwithstanding  51
S. J. R. No. 4  Page 3
As Introduced
Section 22 of Article II of the Constitution of the State of  52
Ohio, and provision shall be made or authorized by law for  53
covenants to continue the levy, collection, and application of  54
sufficient excises, taxes, and revenues to the extent needed for  55
that purpose. The obligations and the provisions for the payment  56
of debt service on them are not subject to Section 11 of Article  57
XII of the Constitution of the State of Ohio.  58
        (3) Obligations issued under this section, their transfer,  59
and the interest, interest equivalent, and other income or  60
accreted amounts on them, including any profit made on their  61
sale, exchange, or other disposition, shall at all times be free  62
from taxation within this state.  63
        (4) The powers herein granted shall be in addition to and  64
not in derogation of existing powers of the state.  65
        (B) Notwithstanding Section 11 of Article XII of the  66
Constitution of the State of Ohio, a school district, county  67
school financing district, career-technical cooperative  68
education district, regional student education district, or  69
partnership consisting of multiple school districts is not  70
required to levy property tax on or after January 1, 2027, to  71
pay the interest on obligations issued by the district or  72
partnership.  73
        (C) The proceeds of any tax on property levied by the  74
state for the purpose of funding the primary and secondary  75
education of students in this state shall be paid into a fund of  76
the state treasury that shall be used solely to fund the primary  77
and secondary education of students in this state and to which  78
other revenue may be credited.  79
        (D) The General Assembly shall not issue obligations under  80
the authority of this section, nor shall division (B) or (C) of  81
S. J. R. No. 4  Page 4
As Introduced
this section apply, unless electors approve the levy of a  82
property tax by the state for the purpose of funding the primary  83
and secondary education of students in this state at the general  84
election to be held on November 3, 2026.  85
  EFFECTIVE DATE  86
        If adopted by a majority of the electors voting on this  87
proposal, the enactment of Section 12 of Article VIII of the  88
Constitution of the State of Ohio shall take immediate effect.  89