To allow local governments to borrow money to cover unfunded employee pension liabilities, if the local has closed its traditional “defined benefit” pension system to new employees. Unlike other local government borrowing (usually called “bonding” or “selling bonds”), no vote of the people would be required.
|80 Yeas / 28 Nays|
|Republican (64 Yeas / 0 Nays)|
|Democrat (16 Yeas / 28 Nays)|
|Excused or Not Voting (2)|