Public School Construction - Projections and Funding - Inflationary Adjustments

HB 1436 requires the Interagency Commission for School Construction to include an inflation adjustment using a cost-of-construction index in its annual projections of school construction needs. These updated projections must be shared with both the Capital Debt Affordability Committee and the Governor when setting the annual school construction funding allocation. The bill clarifies that Maryland’s annual $450 million funding goal for public school construction (starting in FY 2023) must be recalculated each year with inflation adjustments before funding the Public School Facilities Priority Fund. This policy change directly affects how school construction funding is calculated and allocated by state agencies, ensuring the funding target accounts for rising construction costs.