Reimbursements for School Construction Bond Issues
24 P.S. §25-2574 - Amended for Act 70
Date of Issue: March 31, 2020
Date of Review: July
1,2018, July 1, 2006, July 1, 2004, and July 1, 2002
Purpose
The purpose of this Basic
Education Circular is to provide
information concerning Commonwealth reimbursement on bond issues relating to
school construction projects.
Reimbursement
Project payment begins following PlanCon Part 3 approval. The calculated subsidy is divided by 20 equal payments over 20 years.
Final project costs and Act 34 compliance are reviewed for PlanCon Part 4 approval. Final costs shall be provided to PDE not more than one year following the building date of occupancy.
Act 34 non-compliance at Part 4 may result in the forfeiture of subsidy.
Final project costs and room capacity changes verified in Part 4 that will increase calculated subsidy will result in one-time adjustment to 20-year payment schedule.
References
Purdon's Statutes
24 P.S. §25-2574
24 P.S. §25-2575
24 P.S. §25-2578
State Board of Education Regulations
22 Pa. Code §§349.20
22 Pa. Code §§349.21
22 Pa. Code §§349.22
Bureau/Office Contact
Bureau of Budget and Fiscal Management
Division of School Facilities
Pennsylvania Department of Education
333 Market Street
Harrisburg, PA 17126-0333
Phone: 717-787-5993
E-mail:
RA-SchoolFacilities@pa.gov