AZ SB1439

Establishes a building renewal fund administered by the school facilities board to distribute monies to school districts for maintenance and repair of existing school facilities.

Requires school districts to inventory school buildings in a database and prioritize building renewal fund monies for projects addressing minimum facility adequacy standards, with secondary uses for major renovations, system upgrades, infrastructure costs, and portable building placement.

Prohibits use of building renewal funds for new construction, aesthetic remodeling, demolition, capital items, and routine maintenance (except 8% allowance with restrictions), with school facilities board approval required for code compliance projects.

Appropriates $57.8 million in FY 2018-2019, increasing to $289 million by FY 2022-2023 for the building renewal fund from the state general fund.

Appropriates additional district assistance ($70.5 million in FY 2018-2019, escalating to $352.4 million by FY 2022-2023) and $18.656 million for charter school assistance in FY 2022-2023.