Highlights:

- Authorizes the New Jersey Economic Development Authority to issue up to $2.9 billion in bonds for school construction in school districts that received education opportunity aid or preschool expansion aid in the 2007-2008 school year, as well as up to $1 billion for construction in all other school districts, $50 million of which shall be for county vocational school district facilities projects (Sec. 4). - Requires the Commission of Education to establish a process for the annual allocation of grant funding (Sec. 5). - Provides that the vocational school districts that did not receive prior financial support from the state shall have priority in the allocation of bond proceeds for facilities projects (Sec. 8).

Full Bill Text

Highlights:

- Authorizes the New Jersey Economic Development Authority to issue up to $2.9 billion in bonds for school construction in school districts that received education opportunity aid or preschool expansion aid in the 2007-2008 school year, as well as up to $1 billion for construction in all other school districts, $50 million of which shall be for county vocational school district facilities projects (Sec. 4). - Requires the Commission of Education to establish a process for the annual allocation of grant funding (Sec. 5). - Provides that the vocational school districts that did not receive prior financial support from the state shall have priority in the allocation of bond proceeds for facilities projects (Sec. 8).

Full Bill Text