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§ 26-2606-J. Project reimbursement

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: July 1, 2020

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 1. Public School Code of 1949 (Refs & Annos)
Article XXVI-J. Construction and Renovation of Buildings by School Entities (Refs & Annos)
Effective: July 1, 2020
24 P.S. § 26-2606-J
§ 26-2606-J. Project reimbursement
Currentness
(a) General rule.--The Commonwealth shall reimburse a school entity that receives department approval on an application under section 2602-J(a)(3)1 by the amount calculated as follows:
(1) Multiply the base reimbursement amount by the adjustment factor.
(2) Multiply the product under paragraph (1) by the lesser of the project's enrollment and full-time equivalent building capacity.
(3) Multiply the product under paragraph (2) by the school entity's wealth factor.
(b) Limitation.--The maximum payment under this section shall not exceed 65% of a project's structural cost.
(c) Installment payments.--A school entity shall receive equal payments over 20 years totaling the amount determined for reimbursement under subsections (a) and (b).
(d) Adjustment factor.--Beginning July 1, 2020, the adjustment factor shall be zero.

Credits

1949, March 10, P.L. 30, No. 14, art. XXVI-J, § 2606-J, added 2019, July 2, P.L. 417, No. 70, § 1, effective July 1, 2020.

Footnotes

1
24 P.S. § 26-2602-J.
24 P.S. § 26-2606-J, PA ST 24 P.S. § 26-2606-J
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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