Qualified School Construction Bonds
CONTACT
Federal tax legislation enacted Feb. 17, 2009, (Section 1521(a) of H.R. 1 of the American Recovery and Reinvestment Act of 2009 and new Section 54F of the Internal Revenue Code) created a new financial instrument, the Qualified School Construction Bond to help local educational agencies raise funds to: 1) Construct, rehabilitate or repair public school facilities, and 2) Acquire land upon which school facilities are to be constructed.
This is a tax credit bond program, not a grant program.
Qualified School Construction Bond – is any bond issued as part of an issue if: (1) 100 percent of the available project proceeds of such issue are used for the construction, rehabilitation or repair of a public school facility or for acquisition of land on which such facility is to be constructed; (2) the bond is issued by the State or School District; and (3) the School District designated that the bonds are Qualified School Construction Bonds.
CONTACT
For more information about the Qualified School Construction Bonds, please contact the Department of Education's Office of Finance and Management at (605) 773-3248.
This is a tax credit bond program, not a grant program.
Qualified School Construction Bond – is any bond issued as part of an issue if: (1) 100 percent of the available project proceeds of such issue are used for the construction, rehabilitation or repair of a public school facility or for acquisition of land on which such facility is to be constructed; (2) the bond is issued by the State or School District; and (3) the School District designated that the bonds are Qualified School Construction Bonds.
CONTACT
For more information about the Qualified School Construction Bonds, please contact the Department of Education's Office of Finance and Management at (605) 773-3248.
