CO HB1287

School districts, boards of cooperative services, charter schools, and other eligible entities may apply to the public school capital construction assistance board for emergency financial assistance to repair facilities damaged in a declared disaster emergency.

Beginning January 1, 2014, the State Treasurer shall annually credit the first $40 million received from the excise tax on retail marijuana to the Public School Capital Construction Assistance Fund.

The Division of Public School Capital Construction Assistance must contact affected school facilities and assess facility needs within affected disaster areas, then report findings to the board as soon as possible.

School districts receiving emergency financial assistance may use those funds to satisfy local matching requirements for federal disaster repair moneys, and the board may waive or reduce matching money requirements for disaster-affected applicants.

The board may use up to 10 percent of marijuana tax moneys transferred to the assistance fund during a fiscal year to prioritize financial assistance for schools in governor-declared disaster emergency areas.