Relates to building aid for approved expenditures for debt service for tax certiorari financing

This bill allows school districts to receive additional state building aid to help pay off debt from tax certiorari bonds used for school construction. To qualify, a district must have issued a bond with a total value higher than its general fund spending in the year before it started receiving bond money. The district must submit specific financial documents to the state commissioner to verify the debt and receive the aid, which is calculated based on a formula involving the district's building aid ratio and its debt payments. This change applies to debt service payments made starting in the 2023-2024 school year and continues for future years.