NC S468

Expands qualified zone academy bond (QZAB) program uses to include any purpose listed in 26 U.S.C. § 54E, replacing previous restriction to facility rehabilitation and repair only.

Prioritizes QZAB bond proceeds for counties with greater economic distress (as determined under G.S. 143B-437.08) and schools where 75% or more of students are eligible for free or reduced lunch.

Requires State Board of Education to establish an application process and collect necessary information to ensure prioritization and efficient use of bond proceeds.

Allows Public School Building Capital Fund grant funds to be used for operational lease projects if a pre-development agreement was entered into on or before June 30, 2017.

Effective upon ratification (June 30, 2017) for QZAB section; Public School Building Capital Fund amendment effective July 1, 2017.