CO SB072

Increases maximum annual lease payments under the Building Excellent Schools Today (BEST) Act from $80 million (2011-12 through 2015-16) to $90 million for fiscal year 2016-17 and $100 million for 2017-18 and each year thereafter.

Requires charter schools to be chartered for at least five years before applying for financial assistance and requires public schools to exist for at least three years before receiving capital construction project assistance.

Charter schools must apply directly to the board and notify their authorizer at least four months before the application deadline; authorizers may submit a letter stating their position on applications.

Prioritizes projects addressing safety hazards, health concerns, and facility security, adding technology integration projects to the highest priority category alongside safety and health concerns.

Appropriates $5,000,000 to the Department of Education for the 2016-17 fiscal year to support public school capital construction assistance board lease payments.