Home Table of Contents

§ 1706-E.2. Sinking fund charges for school building projects

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 1, 2021

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 1. The Fiscal Code (Refs & Annos)
Article XVII-E.2. School District Debt Refinancing Bonds (Refs & Annos)
Effective: July 1, 2021
72 P.S. § 1706-E.2
§ 1706-E.2. Sinking fund charges for school building projects
Currentness
The following shall apply:
(1) All school districts which submitted completed applications to the department prior to the effective date of this section, and which vote to proceed with construction and awarded bids on their construction contracts no later than July 1, 2021, shall, as permitted by law, either be awarded a one-time capital grant, if available, for the approved project in lieu of approved reimbursement payments or, if not available, shall receive payments in the form of reimbursements.
(1.1) All school districts that submitted applications between July 1, 2017, and November 6, 2017, and that vote to proceed with construction and award bids on their construction contracts no later than December 31, 2022, shall, as permitted by law, be awarded a one-time capital grant, if available, for the approved project in lieu of approved reimbursement payments or, if not available, shall receive payments in the form of reimbursements.
(2) The department shall administer the payments due and payable under this section, and shall determine the amount of the capital grant due each school district which shall not exceed the maximum reimbursable project amount.

Credits

1929, April 9, P.L. 343, No. 176, art. XVII-E.2, § 1706-E.2, added 2016, April 25, P.L. 168, No. 25, § 15.1, imd. effective. Amended 2017, Oct. 30, P.L. 725, No. 44, § 17, imd. effective; 2018, June 22, P.L. 281, No. 42, § 21, imd. effective; 2021, June 30, P.L. 62, No. 24, § 24, effective July 1, 2021.
72 P.S. § 1706-E.2, PA ST 72 P.S. § 1706-E.2
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document