AR HB1254

Amends Arkansas Code § 6-20-2507(f)(1) to specify that state financial participation for school construction projects shall be limited to a maximum of $289 per square foot.

Modifies Arkansas Code § 6-20-2509 to require the Division of Public School Academic Facilities and Transportation to establish funding factors (replacing "formulas") capped at $289 per square foot for determining basic project costs for new construction, additions, and major improvements.

Requires the Division to update funding factors annually by the fourth quarter of the calendar year, considering academic programs, enrollment levels, enrollment projections, grade configuration, school type, and nationally recognized construction standards.

Establishes a process for determining the cost of local enhancements and requires a mechanism to exclude local enhancement costs from qualified project costs in the funding factors calculation.

Specifies that the Division shall use the appropriate formula with the $289 per square foot cap to compute qualified project cost when school districts apply for state financial participation.