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Bill Detail: HB19-1055

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Title Public School Cap Construction Financial Assistance
Status House Committee on Education Refer Amended to Finance (02/07/2019)
Bill Subjects
  • Education & School Finance (Pre & K-12)
House Sponsors S. Bird (D)
Senate Sponsors R. Zenzinger (D)
House Committee Education
Senate Committee
Date Introduced 01/04/2019
Description

Current law requires the greater of the first $40 million of state
retail marijuana excise tax revenue or 90% of the revenue to be credited
to the public school capital construction assistance fund (assistance fund)
and limits the maximum total amount of annual lease payments payable
by the state under the terms of all outstanding lease-purchase agreements
entered into as authorized by the Building Excellent Schools Today Act
(BEST) to $100 million. Beginning July 1, 2019, the bill:
  • Requires all state retail marijuana excise tax revenue to be
credited to the assistance fund;
  • Increases the maximum total amount of BEST annual lease
payments to $105 million for state fiscal year 2019-20 and
to $110 million for state fiscal year 2020-21 and each state
fiscal year thereafter;
  • Changes the percentage of the state retail marijuana excise
tax revenue credited to the assistance fund that is further
credited to the charter school facilities assistance account
of the assistance fund for distribution to charter schools
from 12.5% to a percentage equal to the percentage of
students included in the statewide funded pupil count who
were enrolled in charter schools for the prior school year;
and
  • Changes the total amount of money annually appropriated
from the state education fund for charter school capital
construction from a flat amount of $20 million per year to
$20 million per year annually adjusted for changes in the
percentage of students included in the statewide funded
pupil count who are enrolled in charter schools.

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Fiscal Notes Fiscal Notes (01/29/2019) (most recent)  
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