HB 66 Summary

• Repeals state aid program for costs of school construction debt effective July 1, 2019, eliminating reimbursements authorized under AS 14.11.100.

• Removes "bond reimbursement" references from the grant review committee structure, renaming it the "Grant review committee" and removing bond reimbursement recommendations from its duties.

• Limits the annual debt service funding available for school construction grants to debt incurred and funded before July 1, 2019, calculated based on the percentage of schools in city or borough districts.

• Removes references to school construction debt aid from taxpayer notices required in municipal property tax statements and state budget notices.

• Eliminates school construction debt allocations as a permissible source for local match contributions in state capital project grants under AS 37.06.030.