(1) From the state school aid fund money appropriated in section 11, there is allocated an amount not to exceed $20,000,000.00 for 2022-2023 only for a statewide school facilities study as prescribed in this section.

    (2) The department must award funds under this section to an intermediate district or a consortium of intermediate districts.

    (3) The recipient of funding under this section must use the funds to coordinate with engineers from Michigan-based construction companies familiar with school construction to perform facility condition assessments of each school building in this state in which students are educated that is operated by a district. As part of the assessment described in this subsection, the engineers must report to the recipient of funding under this section either of the following, as applicable:

    (a) If the engineers do not determine that the most cost-effective way to bring a building to health, safety, and wellness standards is new construction, the investments required to ensure that the building meets health, safety, and wellness standards and the estimated cost of the investments.

    (b) If the engineers determine that the most cost-effective way to bring a building to health, safety, and wellness standards is new construction, the estimated cost of the new construction that meets the education needs of the student population currently being served by the existing building.

    (4) The recipient of funding under this section must provide a report to the house and senate appropriations subcommittees on school aid, the state budget director, the house and senate fiscal agencies, and the department summarizing the information it receives under subsection (3). The report described in this subsection must include, at a minimum, the estimated statewide costs received under subsection (3).

    (5) Notwithstanding section 17b, the department shall make payments under this section on a schedule determined by the department.