CSHB 212(FIN): "An Act relating to funding for school construction and major maintenance; and relating to the regional educational attendance area and small municipal school district fund."
00 CS FOR HOUSE BILL NO. 212(FIN) 01 "An Act relating to funding for school construction and major maintenance; and 02 relating to the regional educational attendance area and small municipal school district 03 fund." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 14.11.030(a) is amended to read: 06 (a) The regional educational attendance area and small municipal school 07 district school fund is created as an account in the general fund to be used, in addition 08 to other funding sources, to fund projects approved under AS 14.11.025 for the costs 09 of school construction and major maintenance in regional educational attendance 10 areas and small municipal school districts. 11 * Sec. 2. AS 14.11.030(b) is amended to read: 12 (b) Legislative appropriations, including appropriations of interest earned on 13 the fund, shall be deposited in the fund established under this section. The 14 unobligated and unexpended cash [FUND] balance of the fund may not exceed
01 $70,000,000. 02 * Sec. 3. AS 14.11.030 is amended by adding a new subsection to read: 03 (e) Not more than 20 percent of the fund balance available for appropriation in 04 a fiscal year may be used to fund major maintenance projects under (a) of this section. 05 * Sec. 4. AS 14.11.035 is amended to read: 06 Sec. 14.11.035. Report on school construction and major maintenance 07 funding. Every [BEGINNING IN] February , the department shall provide to 08 the governor and the legislature an annual report on the effectiveness of the school 09 construction and major maintenance grants, state aid for school construction and 10 major maintenance in regional educational attendance areas, and state aid for costs of 11 school construction debt under this chapter. The report must include an analysis of 12 funding sources and the short-term and long-term fiscal effects of the funding on the 13 state. Copies of the report shall be made available to the public and to the legislature.