(a) A request for an allocation of funds under AS 14.11.100 must be submitted to the department by the school district not later than October 15 of the fiscal year before the fiscal year for which the request is made.
(b) The department shall evaluate projects for which retirement of school construction debt is requested. In evaluating projects for bond reimbursement as required under this section, the department shall evaluate all of the following factors, without establishing an absolute priority for any one factor:
(1) emergency requirements;
(2) priorities assigned by the district to the projects requested;
(3) new local elementary and secondary facilities;
(4) existing regional, community, and school facilities, and their condition; this paragraph does not include administrative facilities;
(5) the amount of district operating funds expended for maintenance; and
(6) other program options for accomplishing the project's objectives.
(c) The commissioner may not allocate funds to a municipality under AS 14.11.100 for the retirement of the principal of and interest on outstanding tax-exempt bonds, notes, or other indebtedness authorized by the qualified voters of the municipality on or after January 1, 2015, but before July 1, 2020.
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