Bill > LD1892

This bill establishes a comprehensive school construction funding mechanism beginning July 1, 2026, centered on creating a School Construction Debt Service Fund funded by multiple revenue streams including lottery tickets, gaming activities, cannabis taxes, tobacco taxes, and federal funds. The bill requires the state to pay at least 75% of the total cost of school construction projects, with school administrative units responsible for the remaining 25%, though the Commissioner of Education may adjust this percentage based on a district's financial capacity. A new Maine Public School Financing Authority will be established to administer bond sales and potentially offer zero-interest financing for school construction projects. The bill mandates that all school construction projects must be green-certified and use the most energy-efficient and low-emission standards possible. Additionally, $20 million annually will be specifically allocated to school administrative units proposing significant district consolidation. The funding mechanism is designed to provide a minimum of $175 million in fiscal year 2026-27 and $200 million in subsequent years, with a diverse portfolio of funding sources to ensure stable and consistent financial support for school infrastructure improvements across the state.

Education

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1892&snum=132