relative to school building aid funding.

SB 342 establishes a dedicated School Construction Fund to provide annual funding for new school building projects starting in fiscal year 2025. The bill creates a tiered funding schedule that begins at $30 million and increases by $5 million each year until reaching a cap of $80 million, which is then maintained annually. This money is restricted to new construction projects authorized on or after July 1, 2025, and must be used for facilities that serve as instructional spaces for at least 20 years. Additionally, the legislation requires the Department of Education to develop a 10-year plan to prioritize and manage future school facility needs.