SB 342-FN is a bill that introduces a new school district building aid funding program in New Hampshire, which includes the creation of a School Construction Fund within the state treasury. This fund will be nonlapsing and dedicated to distributing funds to schools and approved chartered public schools for new school construction projects. The state treasurer will transfer $30 million to the fund starting July 1, 2025, with an annual increase of $5 million until it reaches $80 million, which will then be the fixed annual transfer amount. The bill amends existing legislation to include chartered public schools as entities eligible for school building aid and establishes that the aid will be provided in accordance with new provisions. It also specifies that facilities constructed using the aid must be used for K-12 instructional purposes for at least 20 years. The bill includes insertions and deletions to update the legal language, such as replacing "school district" with "schools and chartered public schools" and removing references to obsolete provisions.

Furthermore, SB 342-FN requires the Department of Education to develop and maintain a 10-year school facilities plan, updated biennially, and recommends that each school or chartered public school have a long-range capital improvement program. The bill modifies the criteria and process for school building aid grants, with 80 percent disbursed upon approval and the balance upon completion, and chartered public schools receiving 30 percent of the eligible cost of construction. The submission process for schools seeking building aid grants is outlined, including the requirement for schematic design plans and cost estimates. The bill includes language clarifications and amends the time computation for grants, establishing a School Construction Allocation Program for fund administration. The fiscal note indicates no new revenue generation, indeterminate local expenditure impact, and allows the Department of Education to retain up to 3% of the transfers for administrative costs, including the potential hiring of a new administrator II position. The bill is set to take effect on July 1, 2024.

Statutes affected:
Introduced: 198:15-a, 198:15-, 195-C:1, 6:12
As Amended by the Senate: 21-N:9, 198:15-d, 6:12