Public School Cap Construction Financial Assistance

Public school capital construction - increase in state financial assistance - adjustment to formula for determining total financial assistance for charter schools - financial assistance for full-day kindergarten facilities - appropriations. Law in effect before May 21, 2019, required the greater of the first $40 million of state retail marijuana excise tax revenue or 90% of the revenue to be credited to the public school capital construction assistance fund (assistance fund) and limited the maximum total amount of annual lease payments payable by the state under the terms of all outstanding lease-purchase agreements entered into as authorized by the "Building Excellent Schools Today Act" (BEST) to $100 million. Beginning July 1, 2019, the act: Requires all state retail marijuana excise tax revenue to be credited to the assistance fund; Increases the maximum total amount of BEST annual lease payments to $105 million for state fiscal year 2019-20 and to $110 million for state fiscal year 2020-21 and each state fiscal year thereafter; Changes the percentage of the state retail marijuana excise tax revenue credited to the assistance fund that is further credited to the charter school facilities assistance account of the assistance fund for distribution to charter schools from 12.5% to a percentage equal to the percentage of pupil enrollment statewide represented by pupils who were enrolled in charter schools for the prior school year; and Changes the total amount of money annually appropriated from the state education fund for charter school capital construction from a flat amount of $20 million per year to $20 million per year annually adjusted for changes in the percentage of students included in the statewide funded pupil count who are enrolled in charter schools. The act also: During state fiscal year 2018-19, transfers $4.25 million from the assistance fund to the charter school facilities assistance account of the assistance fund; For state fiscal year 2020-21, requires the general assembly to appropriate $160 million from the assistance fund for use by the public school capital construction assistance board (BEST board) in providing financial assistance for public school capital construction in the form of BEST matching cash grants only; On July 1, 2019, transfers $25 million from the assistance fund to the full-day kindergarten facility capital construction fund (kindergarten facility fund); Requires the BEST board to accept applications from applicants that will provide a full-day kindergarten educational program for the 2019-20 school budget year (state fiscal year 2019-20) for formula-based grants for that budget year of the $25 million transferred to the kindergarten facility fund and authorizes applicants to spend the grants to acquire furniture, fixtures, or other fixed or moveable equipment, excluding construction equipment, that is needed to conduct a full-day kindergarten educational program or a preschool educational program; Specifies a grant distribution formula that takes into account an applicant's per pupil funding, size factor, and percentages of enrolled pupils who are eligible for free or reduced price lunch, are English language learners, or are special education students; Requires any of the $25 million that is not actually distributed as grants during the 2019-20 school budget year due to some eligible applicants not applying for grants or applying for grants in amounts that are less than the amount that the distribution formula would otherwise provide to be transferred back to the assistance fund; Increases the state fiscal year 2018-19 appropriation from the charter school facilities assistance account of the assistance fund to the department of education for state aid for charter school facilities by $4.25 million; and Makes appropriations for state fiscal year 2019-20 as follows: $50 million from the assistance fund to the department of education for BEST matching cash grants; $25 million from the kindergarten facility fund to the department of education for the formula-based grants authorized by the act; $5 million from the assistance fund to the department of education for the increased BEST annual lease payments authorized by the act; and $656,559 from the state education fund to the department of education for state aid to charter school facilities.(Note: This summary applies to this bill as enacted.) Read More