HB755 • 2026

School Construction Program; use of grants, debt service.

<p class=ldtitle>A BILL to amend and reenact § 22.1-140.1 of the Code of Virginia, relating to School Construction Program; use of grants; debt service.</p>

Education

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Runion
Last action: 2026-02-18
Official status: Failed
Effective date: Not listed

Plain English Breakdown

The bill's status as 'Enacted' but with a last action of 'Left in Committee Appropriations' is confusing and requires clarification.

School Construction Grants for Debt Payments

This bill allows local school boards to use grants from the School Construction Fund to make debt service payments on new construction, renovations, or expansions of public schools.

What This Bill Does

Allows local school boards to use grants from the School Construction Program to make debt service payments on the construction of new public school buildings or the renovation or expansion of existing public school buildings and facilities.

Who It Names or Affects

Local school boards
Public schools and their facilities

Terms To Know

School Construction Fund: A special fund in the state treasury that holds money for grants to help build or improve public schools.
Debt service payments: Payments made to pay off debts, such as loans taken out for building projects.

Limits and Unknowns

The bill does not specify how much money will be available in the School Construction Fund.
It is unclear if this change has been fully enacted and implemented yet.

Bill History

2026-02-18 House
Left in Committee Appropriations
2026-01-30 Elementary & Secondary Education
Subcommittee recommends laying on the table (6-Y 0-N)
2026-01-20 Elementary & Secondary Education
Assigned HAPP sub: Elementary & Secondary Education
2026-01-13 House
Prefiled and ordered printed; Offered 01-14-2026 26102834D
2026-01-13 Appropriations
Referred to Committee on Appropriations

Official Summary Text

School Construction Program; use of grants; debt service.
Permits local school boards to use School Construction Program grants to make debt service payments on the construction of new public school buildings or the renovation or expansion of existing public school buildings and facilities in the local school division.

Current Bill Text

Read the full stored bill text

A BILL to amend and reenact §
22.1-140.1
of the Code of Virginia, relating to School Construction Program; use of grants; debt service.

Be it enacted by the General Assembly of Virginia:

1. That §
22.1-140.1
of the Code of Virginia is amended and reenacted as follows:

§
22.1-140.1
. School Construction Fund and Program.

A. For the purpose of this section:

"Local school division" includes joint or regional schools established pursuant to §
22.1-26
.

"Public school buildings and facilities" or "public school buildings" includes any building or facility used for career and technical education programs provided at any regional comprehensive school established pursuant to §
22.1-26
.

B. There is hereby created in the state treasury a special nonreverting fund to be known as the School Construction Fund. The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose, including funds appropriated pursuant to subdivision B 5 of §
58.1-4125
, and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes of awarding grants pursuant to the School Construction Program established in subsection C. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the president of the Board.

C. There is hereby established the School Construction Program (the Program) for the purpose of awarding grants from the Fund to local school boards to fund the construction of new public school buildings or the renovation or expansion of existing public school buildings and facilities in the local school division
or to make
debt service payments
on
any such construction, renovation, or expansion
. The Program shall be administered by the Board in accordance with criteria and other requirements set forth in the general appropriation act.