The bill proposes a conditional appropriation of $29,998,245 from the Education Trust Fund for the fiscal year ending September 30, 2024, specifically for the K-12 Capital Grant Program and the Executive Commission on Community Services Grants. This funding is contingent upon the enactment of HB415 or another bill that would repeal the Distressed Institutions of Higher Education Revolving Loan Program. The K-12 Capital Grant Program is allocated $15,000,000 to support eligible school systems with capital projects, while the remaining $14,998,245 is designated for the Executive Commission on Community Services Grants. Additionally, the bill outlines supplemental appropriations totaling $651,202,906 to various agencies, including significant allocations for the State Board of Education and one-time expenses at the State Department of Education, as well as funding for several universities and the establishment of Education Savings Accounts.

Furthermore, the bill, HB144, emphasizes funding for educational and infrastructure projects across Alabama's universities and community colleges, with specific allocations for deferred maintenance and renovation projects. It designates $112,390,057 to the Alabama Community College System and includes $15,000,000 for the K-12 Capital Grant Program. Notably, the bill also allows the Legislative Services Agency to hire a consultant to study the modernization of K-12 education funding. The act is set to take effect immediately upon passage, having received approval from both the Senate and House in early May 2024. There are no deletions from current law included in this bill.

Statutes affected:
Enrolled: 29-4-51