The bill amends RCW 28A.515.320 to enhance funding for small school districts through the common school construction fund. It establishes a prioritized list for appropriations, mandating that starting with the 2025-2027 fiscal biennium, at least $60 million must be allocated to the small school districts project. This amount increases to $70 million for the 2027-2029 biennium and $80 million for the 2029-2031 biennium and beyond. The bill also stipulates that these appropriations will take precedence after fulfilling obligations for bond payments from the fund.

Additionally, the bill clarifies the sources of revenue for the common school construction fund, including proceeds from timber sales, interest from the permanent common school fund, and federal moneys, while ensuring that any excess funds can be redirected to support the current use of common schools. The language also emphasizes the need for any funds used for current school purposes to be restored to the construction fund by the end of the next fiscal biennium, including any forgone interest.

Statutes affected:
Substitute Bill: 28A.515.320