An Act To Authorize A General Fund Bond Issue To Create The School Capital Improvement Fund

LD 363 would authorize Maine to issue General Fund bonds to create the School Capital Improvement Fund. This fund would provide financial assistance to public school districts for renovating or replacing aging school facilities, subject to eligibility criteria like facility condition and age. School districts would receive state funds on a one-to-one matching basis, meaning they must contribute an equal amount from their own resources. The bill establishes a specific mechanism to fund capital improvements directly through state bonds rather than general appropriations.