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Qualified Zone Academy Bond (QZAB)

Information about the QZAB program, which allows local educational agencies to solicit contributions from private enterprises and to issue tax-exempt bonds and use the proceeds for specified educational purposes.
IRS Tax-Exempt Bond Office Guidance

The IRS Tax-Exempt Bond office has issued guidance External link opens in new window or tab. on the effect of the sequester on direct pay bonds. Payments made to issuers on or after March 1, 2013, through and including September 30, 2013, will be reduced 8.7 percent, unless Congressional action changes the reduction percentage. Issuers should complete Form 8038-CP as directed in the instructions. The form and the instructions continue to be the versions that were revised as of January 2012. Issuers will receive correspondence concerning the reduction after they have filed the form.

Qualified Zone Academy Bond Application (DOC)
Districts receiving an authorization from the 2010 Federal Qualified Zone Academy Bond allocation must issue by December 31, 2012 or the authorization will lapse.

Office of Management and Budget Report Pursuant to the Sequestration Transparency Act of 2012 (P.L. 12-155) External link opens in new window or tab.
(See page 346) The California Department of Education was recently provided this information from the United States Office of Management and Budget regarding sequestration. Districts should consult with their Bond Counsel regarding the consequences of sequestration.

Qualified Zone Academy Bond Issuances

Free and Reduced Price Meal Data
Percentage of free/reduced price meal data by county, school district, and site.


SAMPLE Contribution Letter

The Law

U.S. Department of Education Guidance External link opens in new window or tab.

Empowerment Zone/Enterprise Community Address Locator External link opens in new window or tab.

Qualified Zone Academy Bond Rate External link opens in new window or tab.

Form 14002 - Governmental Bond Financing Compliance Check Questionnaire External link opens in new window or tab.

Questions:   Shannon Farrell-Hart | | 916-323-3923
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