NORFOLK, Va. — Virginia lawmakers are working to modernize aging schools across the state and the country. On Wednesday, Senators Tim Kaine and Marker Warner reintroduced the School Infrastructure Modernization Act.
It would make it easier for school districts to use the current federal historic rehabilitation tax credit to upgrade historic school buildings.
Current law requires the renovated building to serve a different purpose than before. This legislation would waive that requirement, allowing school districts to partner with private entities to finance renovations.
Estimated replacement cost is nearly $25 billion, but older schools can often be renovated for less money than the cost of new construction.
