SUMMARY:

LC 33 7649

Would allow for regular funding, advance funding, and low-wealth capital outlay funding for educational facilities that are extensively destroyed or damaged by fire or natural disaster. Would allow a local school system to submit a request to the Department of Education for State Board of Education approval to redirect bond proceeds from a project which has not been started or where a school system has not yet requested the full reimbursement.

If the majority of an educational facility is destroyed by fire or natural disaster, a local school system would be immediately qualified for regular state capital outlay funds to update, repair or replace the portion of the facility that was not destroyed or damaged, provided that the facility is 20 years old or older. 

EFFECTIVE DATE:

July 1, 2019, if passed.