Schools; Building Equalization for K-8 Student Transfers Revolving Fund; revenue; limitations; uses of the fund; expenditures subject to warrants; effective date; emergency.

HB 1428 creates the "Building Equalization for K-8 Student Transfers Revolving Fund" (BEST Fund) to provide $10 million in state funding for school districts that receive K-8 students from other districts. The fund covers building expenses like construction, repairs, equipment, utilities, security systems, and school buses for these receiving districts. It operates as a continuing fund (not limited by fiscal years) and requires expenditures to be approved via state warrants. The bill takes effect July 1, 2025, with all funds dedicated to physical infrastructure and operational needs of eligible schools.