This bill amends various sections of Alaska's school funding laws to establish new eligibility criteria and limitations for municipalities seeking grants for school construction and major maintenance projects. Specifically, it requires school districts to submit a six-year capital improvement plan by July 1 of the fiscal year prior to the funding request, detailing project scopes, budgets, and justifications. Additionally, the bill introduces restrictions on the number of projects for which municipalities can apply for bond debt reimbursement, limiting them to one school construction project and two major maintenance projects, unless the projects are among the top 20 ranked by the department.

The bill also repeals a previous provision related to bond debt reimbursement for projects authorized by voters between January 1, 2015, and July 1, 2025. The new regulations will apply to applications for bond debt reimbursement made by municipalities for projects authorized by voters on or after July 1, 2025. The effective date for these changes is set for July 1, 2025.

Statutes affected:
HB0042A, AM HB 42, introduced 01/17/2025: 14.11.011, 14.11.005, 14.11.007, 14.11.014, 14.11.013, 14.11.100, 14.11.102