The bill extends the provision that reduces local shares for public school capital outlay projects through fiscal year 2027, allowing a one-third reduction for some school districts and a one-half reduction for certain small school districts. Additionally, it eliminates some criteria that the Public School Capital Outlay Council must consider before adjusting a school district's local share, thereby streamlining the process for funding public school capital outlay projects. The bill also includes conforming amendments to ensure consistency with the new provisions.

Furthermore, the bill outlines specific criteria for grant assistance applications, including eligibility for all school districts regardless of their indebtedness and the establishment of priorities based on statewide adequacy standards. It mandates that the council regularly review and update these standards and provides guidelines for the funding percentage that the state will contribute to approved projects. The bill emphasizes the importance of maintaining adequate facilities and encourages the use of private capital investment in public school construction projects.

Statutes affected:
introduced version: 22-24-5
Final Version: 22-24-5