ME LD1892

Establishes the School Construction Debt Service Fund beginning July 1, 2026, with minimum funding of $175 million in FY2026-27 and $200 million annually thereafter, sourced from gaming revenue, lottery proceeds, cigarette taxes, tobacco taxes, cannabis taxes, and General Fund transfers

Creates the Maine Public School Financing Authority as a state instrumentality to sell bonds to school districts, provide zero-interest financing or cash allotments when feasible, and manage school construction financing

Sets state share at minimum 75% of annual debt service costs for approved projects, with local districts responsible for at least 25%, adjustable by the Commissioner of Education based on ability to pay

Requires all school construction projects to be green-certified and meet cost-effective, energy-efficient, and low-emission standards

Allocates $20 million annually from the debt service fund specifically for school districts proposing significant consolidation of existing schools, and transfers $100 million from the Maine Budget Stabilization Fund to seed the financing authority