CO SB220

Allocates $49,705,220 in supplemental funding for the 2023-24 fiscal year to address cost overruns in school capital construction projects caused by COVID-19 pandemic-related inflation and supply chain disruptions for projects awarded in fiscal years 2020-21, 2021-22, and 2022-23.

Establishes a two-cycle grant process allowing eligible school districts to apply through June 15, 2023, with awards determined by August 17, 2023, for supplemental grants limited to preserving original project scope without expansion.

Redirects general fund and marijuana tax revenues to the public school capital construction assistance fund, including $15 million from the state education fund on June 1, 2023, and $10 million in natural resource royalties for fiscal year 2022-23.

Modifies evaluation criteria for capital construction assistance grants to use total dollar amount of all school district mills per capita instead of bond redemption fund mill levy starting July 1, 2024.

Eliminates matching fund requirements for new capital construction projects that did not receive initial grant awards and exempts supplemental grant awards from requiring state board approval.