00                            HOUSE BILL NO. 133                                                                          
01 "An Act relating to grants for school construction."                                                                    
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 14.11.025 is amended to read:                                                                      
04            Sec. 14.11.025. State aid for school construction in regional educational                                  
05       attendance areas and small municipal school districts. (a) In addition to other                               
06       appropriations and funding sources, the department may provide grant funding from                                 
07       the fund established under AS 14.11.030 to a school district that is a regional                                   
08       educational attendance area or a small municipal school district.                                             
09            (b)  The amount of money available each fiscal year for expenditure under (a)                                
10       of this section shall be the annual debt service on debt incurred under AS 14.11.100(a)                           
11       divided by the percentage of all schools that are located in a city or borough school                             
12       district that is not a small municipal school district, the quotient of which is to be                        
13       multiplied by .244.                                                                                               
14    * Sec. 2. AS 14.11.025 is amended by adding a new subsection to read:                                              
15            (c)  In this section, "small municipal school district" means a city or borough                              

01       school district in the state that has an ADM of not more than 300 and in which the                                
02       district's full value per ADM is not more than $500,000; in this subsection, the                                  
03       district's full value per ADM is determined by dividing the full and true value of the                            
04       taxable real and personal property in the district, calculated as described in                                    
05       AS 14.17.510, by the district ADM, as defined in AS 14.17.990, for the same fiscal                                
06       year for which the valuation was made.                                                                            
07    * Sec. 3. AS 14.11.030(a) is amended to read:                                                                      
08            (a)  The regional educational attendance area and small municipal school                                 
09       district school fund is created as an account in the general fund to be used, in addition                     
10       to other funding sources, to fund projects approved under AS 14.11.025 for the costs                              
11       of school construction in regional educational attendance areas and small municipal                           
12       school districts.                                                                                             
13    * Sec. 4. AS 14.11.030 is amended by adding a new subsection to read:                                              
14            (d)  In this section, "small municipal school district" has the meaning given in                             
15       AS 14.11.025.