AN ACT CONCERNING FUNDING FOR SCHOOL CONSTRUCTION.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to change the source of state funding for local school construction, repair and renovations from bonding to a General Fund appropriation, to be phased in over ten years, by taking the average amount of state reimbursement for such purpose over the past five years and, for each of the next ten years, adding one-tenth of such average to the amount reimbursed out of General Fund revenues.

Statement of Purpose:

To move state reimbursement of local school repairs and renovations from bonding to General Fund appropriations over a period of ten years, saving the state hundreds of millions of dollars in debt service costs in future years.