SB 237 Summary

• Amends municipal school district participating share requirements for school construction and major maintenance grants, reducing percentages for districts with full value per average daily membership between $275,001-$500,000 (from 30% to 20%) and $500,001-$800,000 (from variable to 30%).

• Establishes a new regional educational attendance area school fund with a maximum balance of $70,000,000 to provide grant funding for school construction projects in regional educational attendance areas using a formula based on annual debt service.

• Requires the Department of Education and Early Development to set energy efficiency standards for school construction and major maintenance projects to minimize long-term energy and operating costs.

• Extends the deadline for authorizing school construction debt reimbursed by the state, removing the November 30, 2010 deadline for certain bonds authorized on or after October 1, 2006.

• Mandates annual reports beginning February 2013 analyzing the effectiveness of school construction and major maintenance grants, state aid for regional educational attendance areas, and construction debt funding, including short-term and long-term fiscal effects on the state.