AK SB64

Eliminates state reimbursement for school construction and major maintenance debt incurred by municipalities on or after January 1, 2015, effective July 1, 2019.

Removes "bond reimbursement" language from the grant review committee's responsibilities, renaming it the "Grant review committee" and limiting its focus to school construction grants only.

Changes the calculation method for state aid funding by calculating available funds based only on debt incurred and funded for reimbursement before July 1, 2019, under AS 14.11.100(a).

Removes state aid for school construction debt from the notice to taxpayers that municipalities must provide regarding allocated state aid.

Prohibits municipalities from counting state aid allocations for school construction debt costs toward their required local share contributions for capital projects under AS 37.06.030.