HB3637 Summary

• Restructures school construction grant process from "grant entitlements" to "conditional grant awards" issued by the Capital Development Board after the State Board of Education approves applications and determines priority order.

• Eliminates the grant index formula for calculating grant amounts; replaces it with a "required local match percentage" based on each district's Local Capacity Percentage, capped between 10-90%, with grant award amount equal to recognized project cost minus the required local match.

• Allows school districts to reference expected state grants in bond referendums only if they have received a conditional grant award from the Capital Development Board.

• Gives school districts 2 years from receiving a conditional grant award to secure local match funds; unclaimed grant amounts are reallocated to future application cycles.

• Removes provisions allowing State Board of Education to make debt service grants; designates Capital Development Board to make all school construction project grants from the School Infrastructure Fund and School Construction Fund.