Requires Office of School Facilities in DOE to establish program to replace roofs and HVAC systems in certain school buildings; appropriates $500 million.

S 1518 requires New Jersey's Department of Education to create a program replacing roofs and HVAC systems in school buildings that are 75+ years old, owned by school districts, and used for instruction. The bill appropriates $500 million into a dedicated state fund to cover all costs, including inspections, evaluations, and repairs, which must be performed by licensed contractors working for or contracted with the state. School districts may submit recent evaluations by licensed professionals instead of new state evaluations. Projects will be prioritized by the Commissioner of Education based on student safety needs and available funding.