General Assembly Raised Bill No. 7239 proposes the establishment of a Public School District Repair and Improvement Project Program, set to take effect on July 1, 2025. The bill defines "public school operator" to include various educational entities such as local and regional boards of education and state charter schools, and outlines what constitutes a "district repair and improvement project," which encompasses construction, renovation, and compliance improvements for school facilities. A funding formula is introduced to allocate resources from a district repair and improvement account based on student enrollment and eligibility for free or reduced-price meals. Notably, the bill stipulates that allocated funds cannot be used to satisfy local matching requirements for state assistance programs.

The legislation also mandates the Office of Policy and Management (OPM) to oversee the allocation process, ensuring that public school operators are notified of their funding amounts and that grants are issued by June 30 of each fiscal year. Public school operators are required to submit annual reports on the use of grants and maintain detailed accounting records for three years post-project completion. The bill establishes a "district repair and improvement account" and authorizes the State Bond Commission to issue up to $60 million in bonds, with $30 million available starting July 1, 2025. The bonds will be general obligations of the state, backed by its full faith and credit, and the act includes provisions to ensure compliance with existing statutory requirements regarding bond issuance.