The bill amends Section 3 of P.L.2000, c.72 to enable School Development Authority (SDA) districts to receive State debt service aid for eligible costs associated with specific school facilities projects. This includes projects not constructed by a redevelopment entity or financed under existing law provisions. The new legal language clarifies the eligibility criteria for SDA districts to access this aid, referencing pending legislation as part of the framework for determining final eligible costs. Additionally, the bill deletes the phrase "and" from current law, indicating a restructuring of legal references within the amendments.

Furthermore, the bill allows SDA districts to undertake and finance their own school facilities projects while receiving State debt service aid, provided these projects align with long-range facilities plans and are not included in the latest educational priority ranking or Statewide strategic plan. It establishes a process for determining preliminary and final eligible costs, including excess costs, and clarifies that SDA districts can issue school bonds for financing without needing authorization from the development authority for capital maintenance projects. The legislation aims to streamline the process for school facilities projects, ensuring adequate funding and support for districts while emphasizing energy efficiency in project designs.

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