This bill establishes procedures for school construction projects, beginning July 1,
2026. The bill establishes a debt service fund that is funded by gaming activity revenue, cannabis tax revenue, lapsed balances in the General Fund, tobacco tax revenue and federal funds. The bill requires a school administrative unit to pay 25% of the total cost of a school construction project. The Commissioner of Education may adjust this percentage based on the school administrative unit's ability to pay. The bill requires all school construction projects to be green-certified and use the most cost-effective, energy-efficient and low- emission standards possible. The bill also establishes the Maine Public School Financing Authority, which is responsible for the sale of bond issues for school administrative units and, when feasible, offering zero-interest financing or cash allotments for school construction projects.

Statutes affected:
Bill Text LD 1892, HP 1263: 5.1536, 8.1036, 8.1218, 36.1818, 36.4381, 36.4925