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§ 25-2575. Payments on account of leases hereafter approved and on account of sinking fund char...

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: December 30, 2019

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 1. Public School Code of 1949 (Refs & Annos)
Article XXV. Reimbursements by Commonwealth and Between School Districts (Refs & Annos)
Subarticle (f). School Building Rentals and Sinking Fund Charges
Effective: December 30, 2019
24 P.S. § 25-2575
§ 25-2575. Payments on account of leases hereafter approved and on account of sinking fund charges on indebtedness for school buildings hereafter constructed
(a) The Commonwealth shall pay annually to each school district erecting or sharing in the erection of a building or buildings under the provisions of the Public School Building Authority Act,1 the Municipality Authority Act,2 section 758 of the Public School Code of 1949,3 or section 791 of the Public School Code of 1949,4 on account of buildings for which the lease is approved on or after March 22, 1956, or through the incurring of indebtedness by the issuance of general obligation bonds on account of buildings for which the general construction contract is awarded on or after March 22, 1956, an amount to be determined by multiplying the district's capital account reimbursement fraction computed for the year 1967 or aid ratio whichever is larger by the approved reimbursable rental or approved reimbursable sinking fund charge.
(b) The Commonwealth shall pay, annually, to each school district which constructs, purchases or leases with the approval of the Department of Education an area career and technical school building or technical institute building or which shares in the construction, purchase or lease of such building or buildings under provisions of the Public School Building Authority Act, the Municipality Authority Act, section 758 or 791 of this act, or other agency, or through the incurring of indebtedness by the issuance of general obligation bonds, an amount to be determined by multiplying the district's aid ratio or fifty per cent, whichever is more, by the approved reimbursable rental approved reimbursable sinking fund charge multiplied by the district's proportionate share of such rental sinking fund charge.

Credits

1949, March 10, P.L. 30, No. 14, art. XXV, § 2575, added 1956, March 22, P.L. (1955) 1315, § 2. Amended 1957, July 11, P.L. 775, § 5; 1957, July 13, P.L. 864, § 13; 1963, Aug. 14, P.L. 1065, No. 463, § 17; 1968, June 12, P.L. 192, No. 96, § 9; 2019, Oct. 30, P.L. 460, No. 76, § 61, effective in 60 days [Dec. 30, 2019].

Footnotes

24 P.S. § 791.1 et seq.
53 Pa.C.S.A. § 5601 et seq.
24 P.S. § 7-758 et seq.
24 P.S. § 7-791.
24 P.S. § 25-2575, PA ST 24 P.S. § 25-2575
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
End of Document