This study is the first to empirically examine how school districts allocate resources in response to capital investment revenue from statewide penny sales taxes (called SAVE funds), and whether SAVE funds affect student outputs (i.e., educational achievement). We found evidence that school districts do not use SAVE funds to increase capital…

Many school systems in the United States face the prospect of renovating existing buildings rather than constructing new facilities because of budgetary limitations and constraints. The least disruption to the educational process when a building is scheduled for renovation is to move the student body to a vacant building. This option is not…