Vote Smart's Synopsis:

Vote to pass a bill that changes the Bond Levy Equalization Support, which matches a percentage of funding for voter-approved school district bonds on a scale based on the school district's value index, which is calculated from the school district's market value, unemployment rate, and per capita income. The bill requires school districts to annually deposit two percent of the school buildings' replacement value, less the deposits of the state, into a building maintenance fund. Additionally, the bill provides $25 million for the Public School Facilities Cooperative Fund, which may be used to fix unsafe school buildings in districts that have failed to approve a bond levy for fixing unsafe facilities or otherwise have not addressed unsafe facilities. The bill requires the Department of Education to calculate a levy rate at which the district's share of the cost may be repaid to the state in no more than twenty years but also establishes a maximum levy rate that can be imposed. The bill stipulates that the levy will be imposed for a maximum of twenty years, even if the district's share of the cost is not fully repaid by that time. Additionally, the bill requires a district supervisor to be appointed by the Board of Education to any school district using these funds.

Full Bill Text

Full Bill Text

Full Bill Text