SB 840

This bill creates the K-12 lottery capital outlay special account and the early learning program accoun t and requires the comptroller to dev elop and administer grant program s for capital outlay projects for K-12 educational facilities and new or existing pre-kindergarten (pre-K) programs . This bill requires any funds that remain in the lottery account at the end of each fiscal year in excess of $250 million to be deemed excess lottery funds and transferred in equal amounts to the two special account s . The funds in the special account s will supplement, not replace, other resources for capital projects in schools. All lottery funds that are deposited into the special account s each year will be available as capital outlay grants to each LEA based on the ratio of each LEA' s average daily membership to the state's overall average daily membership. If a n LEA is not awarded a grant in a given year, the funds will be credited to the LEA and included in the district's grant availability in subsequent years until awarded. This bill authorizes the comptroller to audit any LEA that accepts a grant for compliance purposes an d establish matching dollar requirements based on need. Also, this bill authorizes administrative expenses incurred by the comptroller in administering the grant program to be paid from the special account s . Th is bill authorizes the c omptroller t o promulgate rules , including emergency rules, to effect uate the purposes of this bill .