SCHOOL CONSTRUCTION GRANTS

Amends the School Construction Law. Makes changes concerning application for a grant, a conditional grant award, the required local match and grant award amount, eligibility, the priority of school construction projects, and referendum requirements. Repeals provisions concerning carry over projects, Fiscal Year 2002 escalation, debt service grants, and a school capital needs assessment. Amends the State Finance Act and the Local Government Debt Reform Act to make related changes. Effective immediately. House Floor Amendment No. 3 Replaces everything after the enacting clause. Reinserts the contents of the bill with the following changes: Makes changes to the definition of "grant index". Provides that during the first application cycle after June 30, 2022 (instead of June 30, 2021), the required local match and grant award amount may be adjusted if the applicant had previously expended funds on a school construction project on the 2004, 2005, or 2006 School Construction Grant List (instead of the 2004 School Construction Grant List). Provides that in that case, the grant award amount shall be increased by an amount equal to the amount of the grant the applicant would have received had it been awarded a grant in 2004, 2005, or 2006 based on the 2004, 2005, or 2006 School Construction Grant List and the year in which the school district applied for the grant (instead of increasing the grant award amount by an amount equal to the amount of the grant the applicant would have received had it been awarded a grant in 2004 based on the 2004 School Grant Construction List). Changes other dates. Provides that a school district shall have 2 years from the date the school district was issued a conditional grant award from the Capital Development Board to obtain the school district's required local match and receive a final grant award from the Capital Development Board. If the required local match is not obtained within the 2-year time frame, provides that the school district shall be required to reapply in another application cycle, after the 2-year time frame, to be considered for a grant award. Requires the State share of the grant amount in a conditional grant award that is not claimed by a school district within the 2-year time frame to be reallocated to future application cycles after the 2-year time frame expires. Effective immediately. House Floor Amendment No. 4 In provisions concerning the School Construction Law, provides that the definition of grant index applies only to completed or partially completed, as determined by the Capital Development Board, school construction projects (rather than only to completed school construction projects) as specified.