Amends and adds to existing law to establish the Public Education Facilities Fund.

Thisbillwouldcreateafundinthestatetreasurytosupportpubliceducationfacilities. Moneysinthefundshall be distributed as a need-based grant to school districts for the purposes of financing construction, remodel, and maintenance of school facilities. An application for such grant funds shall include a detailed plan for the school facility project, details concerning facilities conditions, projected costs related to the project, estimated bond levy request, previous bond levy requests, and financial condition report of the school district. The treasurer shall review and approve applications in consultation with the state division of occupational and professional licenses, the state fire marshal, the state board of education, and the state department of education. Based on the application, the state treasurer may approve all or part of the grant request. If the state treasurer approves the grant application, the school district may then pursue their bond levy, less the grant amount approved for distribution.