MD HB1436

Requires the Interagency Commission for School Construction to include an inflationary adjustment using a cost of construction inflation index in its 5-year projections of school construction and capital improvement needs

Mandates that these inflation-adjusted projections be provided to both the Capital Debt Affordability Committee and the Governor when setting the annual school construction allocation in the capital budget

Amends the existing $450,000,000 annual public school construction funding goal (established in fiscal year 2023) to require recalculation with a construction cost inflation index

Excludes Built to Learn Program funding from the annual funding goal calculation

Takes effect July 1, 2025