Amends and adds to existing law to provide for the Public School Endowment Income Facilities Fund.

In January 2022, the Office of Performance Evaluations released a report on public K-12 buildings. The report detailed that school districts were struggling to keep up with routine maintenance in buildings, leading to an estimated maintenance backlog of over $800 million. Moreover, the report found that both charter schools and districts struggled to acquire new buildings, either to replace old buildings that needed to be phased out or to meet the rising number of students. This legislation redirects revenues from Idaho Endowment Lands to specifically be used for Idaho K-12 school facilities. A distribution formula based on square footage and school population is used to disperse funding. See Attached.