Reauthorize certain qualified tax credit bonds and create a new school infrastructure bond program
Authorize the appropriation of $7 billion for each year from 2020 through 2030 for need-based grants to qualified local education agencies for school construction and renovation
Require a study of and report on the physical condition of all U.S. public schools
Authorize the appropriation of a total of $562 million for the 2020-2025 period to fund Impact Aid construction grants under the Elementary and Secondary Education Act
Permanently authorize the appropriation of such sums as may be necessary for grants to states to repair school foundations affected by pyrrhotite
Estimated budgetary effects would primarily stem from
The school infrastructure bond program
New and increased authorizations of appropriations for school improvement and construction
Areas of significant uncertainty include
Interest rates over the next decade
The scope and funding required for a comprehensive study of the physical condition of all public schools