Relating to the use of revenue in the tax increment fund for certain tax increment financing reinvestment zones for the acquisition, construction, or reconstruction of an educational facility.

HB 2878 allows municipalities and counties in specific tax increment financing zones to dedicate revenue from increased property taxes toward school district facilities. It applies only to zones created after 2005 (municipalities) or 2022 (counties), larger than 500 acres, containing at least 20 acres of donated land for schools, and with written agreements requiring school district payments into the tax increment fund. The bill enables new agreements or amendments to fund the acquisition, construction, or reconstruction of educational facilities - both within and outside these zones - using tax increment revenue generated by the school district. School districts will receive state aid equal to the amount they contribute to the fund, effective for the 2025-2026 school year.