ID S1103

Establishes the Public School Endowment Income Facilities Fund in the state treasury, managed and invested by the state treasurer, funded by distributions from the public school earnings reserve fund.

Distributes two-thirds of available funds to school districts and charter schools based on their owned student-occupied square footage.

Provides minimum guaranteed distributions: $100,000 for districts/schools with average daily attendance of 100 or less, and $150,000 for those with attendance of 100.01-750; remaining funds distributed proportionally to larger districts/schools.

Requires all districts and charter schools with average daily attendance of 750.01 or more to receive a minimum of $150,000 in total distributions.

Allows distributed funds to be used for paying existing bonds, expanding or maintaining capital projects, or held in savings for deferred maintenance; effective July 1, 2023.