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1 Grant for School Construction. Amend RSA 198:15-a, IV to read as follows:
IV. Beginning July 1, 2013 , and every fiscal year thereafter, school building aid grants for construction or renovation projects approved by the department of education shall not exceed $50,000,000 per fiscal year less any debt service payments owed in the fiscal year, unless otherwise provided by an act of the general court. School building aid grants shall be funded from appropriations in the state operating budget and no state bonds shall be authorized or issued for the purpose of funding such school building aid grants.
2 Effective Date. This act shall take effect upon its passage.
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1 Grant for School Construction. Amend RSA 198:15-a, IV to read as follows:
IV. Beginning July 1, 2023 , and every fiscal year thereafter, a minimum of $50,000,000 per fiscal year shall be transferred to the school building aid fund, in addition to any debt service payments owed in the fiscal year, unless otherwise provided by an act of the general court. Building aid shall be nonlapsing and continually appropriated. School building aid grants shall be funded from appropriations in the state operating budget and no state bonds shall be authorized or issued for the purpose of funding such school building aid grants.
2 Effective Date. This act shall take effect upon its passage.