NC H600

Allows state education funds (except classroom teacher and teacher assistant allotments) to be used for lease payments on school buildings in tier one development counties, with counties responsible if state funding decreases.

Enables local school boards to enter into operating leases with private developers for school buildings on sites owned by the board or county, with developers selected based on demonstrated competence and qualifications.

Requires local boards to adopt resolutions justifying operating leases, publish 30-day public notices, and evaluate private developer qualifications including financial stability, experience, and minority business enterprise utilization plans.

Allows counties to borrow money for qualified zone academy bond purposes related to leased school facilities for terms of at least 10 years, and prioritizes qualified zone academy bond allocations to counties with greater economic distress.

Clarifies that qualified zone academy bond proceeds for leased facilities can be used for any purpose allowed under federal law (26 U.S.C. § 54E(d)(3)), rather than only rehabilitation and repair work.