HB727: AN ACT relating to school district buildings.

Legislative Summary

Amends KRS 160.160 to authorize a school district to issue general obligation bonds in accordance with KRS Chapter 66, to authorize the Kentucky Department of Education (KDE) to intercept debt service payments when due for a general obligation bond issue, to make conforming amendments, to add language to suspend the requirement for prior approval for a local board to commence the funding, financing, design, construction, renovation, or modification of district facilities until June 30, 2027, to require a local board to continue to submit BG-1 Project Application forms, to ensure that KDE shall continue to have authority to intercede on bond payments until June 30, 2027, to provide for an expedited process for approval of district facility plans and the acquisition and disposal of property, to require that KDE provide assistance to districts upon request concerning facilities and properties procedures, to ensure current applications are governed by these sections, to includes extracurricular facilities as facilities covered by the Act, and to declare that nothing in specified sections waives prior approval of Elementary and Secondary School Emergency Relief funds or other federal funds for which federal law requires state authorization; and creates a new section of KRS Chapter 162 to allow school districts to issue general obligation bonds.