The bill amends existing legislation to enable School Development Authority (SDA) districts to receive State debt service aid for eligible costs associated with specific school facilities projects. This change is designed to enhance financial support for the construction, renovation, or maintenance of school facilities within these districts. The new legal language clarifies the eligibility criteria for State debt service aid, particularly for SDA districts that choose to undertake and finance their own projects, rather than relying solely on the development authority. The bill also specifies that the final eligible costs will be determined by the commissioner in consultation with the development authority, and it includes provisions for districts not utilizing a redevelopment entity.

Additionally, the bill establishes that the State share of funding for SDA districts will cover 100% of the final eligible costs, while for other districts, it will be based on the district aid percentage with a minimum of 40%. It outlines the responsibilities of the commissioner in reviewing project applications and determining costs, while also emphasizing the importance of accommodating students with disabilities. The legislation aims to streamline the financing and management of school facilities projects, ensuring they align with educational needs and regulatory standards, while also providing clearer guidelines for project approval processes and financial assistance.

Statutes affected:
Introduced: 18A:7G-3, 18A:7G-5, 18A:7G-9