Building, Renovating, Improving, and Constructing Kids' Schools Act

Summary

Building, Renovating, Improving, and Constructing Kids' Schools Act - Directs the Secretary of the Treasury to make amounts in the Treasury stabilization fund available to States for loans for school construction bond interest payments and related support. Requires States to use at least 50 percent of such funds for loans to enable State, regional, or local entities to make annual interest payments on certain qualified school construction bonds they issue. Allows States to use up to 50 percent of such funds to support State revolving fund programs or other State-administered programs that assist such entities to pay for certain construction, rehabilitation, repair, or acquisition costs, with priority for projects for schools with the greatest need. Sets forth requirements for loan repayment and interest rate. Exempts a State from repayment and interest rate accrual before January 1, 2007, unless the amount appropriated to carry out assistance for education of all children with disabilities under the Individuals with Disabilities Education Act for any fiscal year before FY 2007 is sufficient to fully fund such assistance for the fiscal year at the originally promised level, which would provide to each State 40 percent of the average per-pupil expenditure for providing special education and related services for each child with a disability in the State. Directs the Secretaries of the Treasury and of Education to ensure that funds are used only to pay for the interest on qualified school construction bonds or for certain other costs. Denies the Secretaries authority to approve or disapprove school construction plans assisted under this Act, except to ensure that funds are used only to supplement, and not supplant, the amount of school construction, rehabilitation, and repair in the State that would have occurred in the absence of such funds.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 April 2001

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 April 2001

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 April 2001

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.