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S 6509

Authorizes the creation of state debt in creating the Alzheimer's research bond act of 2025 and provides for submission to the people of such proposal

2025 Regular Session Introduced by Cordell Cleare

Authorizes state bonds to fund Alzheimer's research, but requires a statewide voter referendum for approval before any debt is issued.

REFERRED TO FINANCE
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Bill Summary · S 6509

Summary of Bill S 6509 — Alzheimer's Research Bond Act of 2025

Overview

S 6509 would authorize the creation of state debt to fund Alzheimer’s research through the Alzheimer’s Research Bond Act of 2025 and would require the debt issuance proposal to be submitted to the voters for approval. The bill is currently referred to the Senate Finance committee.

Purpose and intent

  • Create a framework to finance Alzheimer’s research via state-issued debt (bonds).
  • Place the decision to authorize such debt before the electorate, ensuring public approval before any bonding occurs.

What the bill would do

  • Authorize the issuance of state debt (bonds) to fund Alzheimer’s research as part of the Alzheimer’s Research Bond Act of 2025.
  • Require that the debt-issuance proposal be submitted to the voters for consideration and approval.
  • Establish the legal mechanism for creating and financing the Alzheimer’s research bonds (specifics on bond terms, amounts, interest rates, and repayment are not specified in the information provided).

Key provisions and changes (as described)

  • Creation of a dedicated Alzheimer’s research bonding program under a new act.
  • Mandate voter approval for any bond issuance under this act (i.e., a statewide ballot referendum).
  • The bill’s text provided does not include detailed terms such as bond size, repayment period, interest, or earmarking of funds beyond the general purpose of Alzheimer’s research.

Who would be affected

  • State government and its debt management authorities would be responsible for issuing and servicing the bonds.
  • Taxpayers and residents would bear debt service costs (via future state budgets) if the bonds are approved and issued.
  • Alzheimer’s research institutions, researchers, and related stakeholders could benefit from available funding for research, potentially accelerating projects and initiatives.

Procedural and timeline aspects

  • Status: REFERRED TO FINANCE (as of March 17, 2025).
  • Introduced on March 17, 2025.
  • Legislative actions show: two entries on 2025-03-17 both noting “REFERRED TO FINANCE.”
  • Related content notes: S 709 (prior-session) is listed as related.

Sponsor

  • Cordell Cleare (primary sponsor)

Related bills

  • S 709 (prior-session), indicating a historically related proposal or precedents in the same legislative area.

Fiscal impact (high-level)

  • The bill would increase state debt and create debt-service obligations if the bond issuance is approved.
  • Detailed fiscal impact (bond size, terms, interest costs, and annual debt service) is not provided in the summary available here; those details would be defined in the bill’s final text and any accompanying fiscal notes.

Next steps for readers

  • Monitor committee actions in Finance for amendments, additional fiscal analyses, and potential floor consideration.
  • If advanced, the measure would typically require a voter referendum to authorize any proposed debt issuance.
  • Review the full bill text and any fiscal impact statements for specifics on bond terms and funding arrangements.

Compiled from official sources — confirm details with the bill’s official record.

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