Local Education Agencies - As introduced, enacts the "School District Capital Improvements Investment Trust Act." - Amends TCA Title 49.

SB 593 would allow Tennessee school districts to create special investment trusts to save for school building repairs, renovations, and facility upgrades (like fixing roofs or modernizing classrooms). To establish such a trust, districts must first develop a 5-year capital improvements plan, maintain a 2-month operating fund reserve, and get approval from the state funding board. The trust assets would be protected from creditors and could only be used for approved capital projects or trust administration - never for regular school operations. Districts would also need to follow state investment guidelines, undergo third-party reviews, and submit annual financial reports for state oversight.