Local Education Agencies - As introduced, enacts the "School District Capital Improvements Investment Trust Act." - Amends TCA Title 49.

HB 224 creates the "School District Capital Improvements Investment Trust Act" in Tennessee, allowing local school districts (LEAs) to establish legally protected investment trusts specifically for funding capital improvements like building construction, renovations, and facility upgrades. To create such a trust, school districts must adopt a 5-year capital improvements plan, maintain a minimum two-month operating fund balance, get third-party plan reviews, and secure approval from the state funding board. Trust assets can only be used for approved capital projects or trust administration costs, and are shielded from creditor claims, bankruptcy, and other legal actions against the school district. This bill directly affects Tennessee public school districts seeking a dedicated, protected funding mechanism for facility upgrades beyond their regular operating budgets.