May 9, 2007
Tracy Advances Plan to Fund K-12 Capital Projects
Nashville, Tenn. Sen. Jim Tracy (R-Shelbyville) has advanced legislation that will help local governments with K-12 capital projects. Senate Bill 277 passed the Senate Education Committee on Tuesday.
“The only aspect of the 2002 Constitutional Amendment creating the Tennessee Lottery yet to be enacted by the legislature is using the excess lottery reserves for new K-12 capital outlay projects,” said Tracy. “This plan will put actual dollars into the local school districts.”
As amended, the bill will set aside $100 million of the lottery excess reserve fund for the purpose of establishing a K-12 capital outlay grant program. Each school district would be awarded a certain amount of money pursuant to a local match.
The bill now goes to the Senate Finance, Ways and Means Committee, where it must be considered before being acted upon by the full Senate.