S234 Bill Summary

• Appropriates $13,771,652 from the Education Lottery Fund to provide principals with a lump sum allotment equal to their average 2016-2017 salary plus 7%, allowing superintendents discretionary compensation decisions instead of a mandated salary schedule.

• Authorizes a $2,600 nonrecurring bonus for all principals in the 2017-2018 school year and creates a Principal Bonus Program allowing principals in low-wealth districts to earn up to $5,000 in annual bonuses for performance achievements or exceeding expected student growth.

• Appropriates $4,135,137 to establish assistant principal salaries based on the teacher "A" salary schedule plus 13%, with additional supplements for advanced degrees and support for master's in administration program interns.

• Creates a Needs-Based Public School Capital Fund with $75,000,000 in recurring lottery funding to award grants to economically disadvantaged counties for school construction projects, with matching requirements varying by development tier designation.

• Increases the education lottery advertising cost limit from 1% to 2% of total annual revenues and clarifies that the Governor shall transfer funds from the Education Lottery Reserve Fund if actual revenues are insufficient to meet appropriations.