School Construction Fund and Program; created and established.

Department of Education; School ConstructionFund and Program; Gaming Proceeds Fund revenues. Establishesthe School Construction Fund as a special nonreverting fund in thestate treasury and requires the Department of Education to establishthe School Construction Program for the purpose of providing grantsfrom the Fund, subject to certain conditions, to school boards thatleverage federal, state, and local programs and resources to financethe design and construction of new school buildings and facilitiesor the modernization and maintenance of existing school buildingsand facilities. The bill provides that three percent of any fiscalyear's budget surplus shall be appropriated to the School ConstructionFund and Program. The bill also provides that any remaining revenuesnot appropriated by the Gaming Proceeds Fund shall be appropriatedto the School Construction Fund and Program. Under current law, anyremaining revenues in the Gaming Proceeds Fund not appropriated remainin the Fund until appropriated by the General Assembly for programs established to address public school construction, renovations, orupgrades.