SB 406
Reorganizing School Building Authority as School Maintenance Authority
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill reorganizes the School Building Authority into the School Maintenance Authority. The primary goal is to shift the authority's focus from financing school construction to primarily financing school maintenance. It amends several sections of the West Virginia Code to reflect this change, including defining key terms and outlining the authority’s powers and responsibilities. The bill also addresses bond issuance and funding mechanisms to support these maintenance efforts.
Key provisions
- Renames the School Building Authority to the School Maintenance Authority.
- Defines ‘Maintenance’ as encompassing upkeep and repair of school facilities.
- Authorizes the new authority to issue bonds for both construction and maintenance projects.
- Establishes a fund for emergency facility and equipment repairs in financially distressed counties.
- Creates a School Major Improvement Fund to support major renovation projects.
- Allows the authority to collect rental fees for the use of capital improvement projects.
- Provides for the transfer of funds from the School Construction Fund to the School Maintenance Authority Fund.
- Authorizes the authority to enter into escrow agreements for bond payments.
Who is affected
- West Virginia Public Schools
- School Boards
- Students
- School Maintenance Personnel
- Bondholders
Notable changes
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