SB 288 Summary

• Increases school building project grant eligibility by five percentage points for municipalities deemed "inclusive" by the Commissioner of Housing if they have population over 6,000, less than 10% affordable housing, fair housing zoning regulations including multifamily housing and accessory dwelling units, and have constructed new affordable housing units equal to at least 1% of total housing stock in the preceding three years.

• Changes oversight authority for school building projects from the State Board of Education to the Commissioner of Administrative Services for rule-making and audit functions effective July 1, 2024.

• Requires the Department of Administrative Services to conduct a limited scope audit of school building projects if no audit is completed within five years of project completion, reviewing expenditures, off-site improvements, space specifications, and interest costs.

• Prohibits the Department from reducing school construction grants based on audit findings that change orders were not publicly bid.

• Authorizes State Treasurer to issue up to $13.862 billion in bonds for school building projects and repeals multiple obsolete statutory provisions related to prior school construction grant programs effective July 1, 2024.