N.C. senators say plan will raise $2 billion for school construction
Republicans in the legislature want to help school districts repair or replace dilapidated schools, but they have come up with two competing strategies for how to do it.
Senate Republicans are putting up a pay-as-you-go plan for school construction as an alternative to the $1.9 billion bond House Speaker Tim Moore has proposed.
The Senate GOP method would use a money from the State Capital Infrastructure Fund, a new pot of cash the state will start filling this year. The fund was established in the 2017 budget and will receive 4 percent of state tax revenue and other money. The legislature set up the fund to pay debts, for UNC system school and state agency buildings, and for repairs and renovations.