Sec. 203. Annual report on bond program
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Not later than September 30 of each fiscal year beginning after the date of the enactment of this Act, the Secretary shall prepare and submit to the Committee on Health, Education, Labor, and Pensions of the Senate and the Committee on Education and the Workforce of the House of Representatives a report on the school infrastructure bond program. The report under subsection
(a)shall include, with respect to the fiscal year preceding the year in which the report is submitted, the following: An identification of— each local educational agency that received funds from a school infrastructure bond; and each local educational agency that was eligible to receive such funds— but did not receive such funds; or received less than the maximum amount of funds for which the agency was eligible. With respect to each local educational agency described in paragraph (1)— an assessment of the capacity of the agency to raise funds for the long-term improvement of public school facilities, as determined by an assessment of— the current and historic ability of the agency to raise funds for construction, renovation, modernization, and major repair projects for schools, including the ability of the agency to raise funds through imposition of property taxes; whether the agency has been able to issue bonds to fund construction projects, including such bonds as— qualified school construction bonds under section 54F of the Internal Revenue Code of 1986; qualified zone academy bonds under section 1397E of the Internal Revenue Code of 1986; and school infrastructure bonds; and the bond rating of the agency; the demographic composition of the student population served by the agency, disaggregated, by number and percentage, by— race; status as a student counted under section 1124(c) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6333(c) ); and eligibility for a free or reduced price lunch under the Richard B. Russell National School Lunch Act ( 42 U.S.C. 1751 et seq.); the population density of the geographic area served by the agency; a description of the projects carried out with funds received from school infrastructure bonds; a description of the demonstrable or expected benefits of the projects; and the estimated number of jobs created by the projects. The total dollar amount of all funds received by local educational agencies from school infrastructure bonds. Any other factors that the Secretary determines to be appropriate. A State or local educational agency that receives funds from a school infrastructure bond shall— annually compile the information necessary for the Secretary to determine the elements described in subsection (b); and report the information to the Secretary at such time and in such manner as the Secretary may require.
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