Debt-free Schools Act

The act authorizes a school district, with voter approval, to impose an additional mill levy for the sole purpose of funding its capital construction, new technology, existing technology upgrade, and facility maintenance needs without borrowing money. If a charter school chartered by a district requests that the district fund capital construction, technology, or facility maintenance needs of the charter school with money generated by an additional mill levy and submits a capital construction plan to the board of the district, the board must assess the priority of the charter school's capital construction needs relative to the needs of other district schools and include the charter school's needs for funding if the priority of those needs is higher than the other schools' needs. Revenue raised from such a mill levy must be credited to a supplemental capital construction, technology, and maintenance fund of the district and used for the sole purpose of paying for capital construction, new technology, existing technology upgrade, and facility maintenance needs of the district.

(Note: This summary applies to this bill as enacted.)