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1998 SESSION

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HB 1130 Public School Construction Grants Fund.

Introduced by: Thomas M. Jackson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

School construction fund. Funds the Virginia Public School Construction Grants Program with lottery revenues and uncollected lottery winnings. The share of lottery revenues deposited in the Grants Fund starts at up to 15 percent in fiscal year 1999 and 2000, increases to up to 25 percent in fiscal year 2001, up to 50 percent in fiscal year 2002, up to 75 percent in fiscal year 2003, and up to 100 percent thereafter. Moneys in the fund will be used for matching grants, to be allocated based on a priority list using weighted criteria to be developed by the Board of Education. The criteria will be weighted to provide funding for school divisions with the greatest educational need and fiscal stress.


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