During the 2021 legislative session, the general assembly transferred $10 million from the general fund to the public school capital construction assistance fund (fund) and appropriated this money for air quality improvement grants for schools. Of the money transferred and appropriated for air quality improvement grants, $4,705,220 remains in the fund and has not been distributed. The appropriation for fiscal year 2021-22 has expired. The act specifies that the unspent money transferred and appropriated for air quality improvement grants must not be used for air quality improvement grants and instead must be used for financial assistance as provided in the "Building Excellent Schools Today Act".
During the 2022 legislative session, the general assembly scheduled a transfer of $30 million from the marijuana tax cash fund to the fund for June 1, 2023. The act repeals this scheduled transfer before it occurs.
For state fiscal year 2023-24, the act requires the public school capital construction assistance board (board) to allocate $49,705,220 from public school capital construction assistance board cash grants to be used for supplemental grants at schools experiencing capital construction project cost overruns as a result of COVID-19 inflationary pressure.
The act changes the financial capacity factors for evaluating the match requirement for public school capital construction projects for school districts and boards of cooperative services. The new factors apply to grants awarded on or after September 1, 2023, and funded on or after July 1, 2024.
The act transfers $15 million from the state education fund to the fund on June 1, 2023. $10 million in royalties and other payments for depletion or extraction of natural resources on state lands is credited to the fund for the 2022-23 state fiscal year. The act provides for a reduction of $294,780 in cash funds appropriated from the fund to the department of education for board cash grants in the 2023 long bill.
APPROVED by Governor May 12, 2023
EFFECTIVE May 12, 2023
(Note: This summary applies to this bill as enacted.)