Qualified School Construction Bond

Funding Description

Qualified School Construction Bonds (QSCB) offers local educational agencies (LEAs) the ability to sell tax-exempt bonds and use the revenue, essentially a loan, for construction of public school facilities, rehabilitation or repair of school facilities, acquisition of land on which public school facilities will be constructed with proceeds of issuance, or to purchase equipment related to the project(s) constructed or rehabilitated with the proceeds of issuance.

Eligibility

Eligible Applicants	Local educational agencies
Required Eligibility Criteria	All districts and county offices of education, except the twelve direct authorized districts, will be eligible to submit applications. A school district or county office of education that received a 2009 allocation but did not make any issuance may not apply for an authorization until June 24, 2011. Charter schools will apply for allocations through the California State Treasurer, California School Finance Authority.
Other Eligibility Considerations	If the program is oversubscribed the order of allocation shall be established using the following criteria: 1) earliest date of postmark; 2) the project for which the authorization will be applied has received prior approval from the Division of the State Architect before the application was submitted; and 3) the greater percentage of pupils who qualify for the federal free and reduced priced meals program and are enrolled in the applying school district or county office of education in the 2008-09 school year.
Eligible Grade Level(s)	K, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
Eligible Age Level(s)	Not applicable

Funding

Legal Authority	Section 1521 of the Internal Revenue Code
Source / Type	Federal / Grant
State Fiscal Year	2010-11
SACS Resource / Revenue Codes	0000 / 0000
Total Available	$866,405,568
Recipient Amount	Maximum $25,000,000 per LEA
Match Requirement	No
Allocation Formula	$720,058,000 total allocation to the State. $68,406,000 allocated to California State Treasurer, California School Finance Authority to assist charter schools in obtaining Qualified School Construction Bond issuance. The remaining $651,652,000 and the 2009 rollover of $214,753,568 will be allocated to school districts and county offices of education.

Important Dates

Date Application Available	October 1, 2010
Due Date	Unavailable
Expected Notification Date	December 1, 2010

Additional Information

Application	2010 Qualified School Construction Bond [http://www.cde.ca.gov/fg/fo/r13/qscb10rfa.asp]
Background	Qualified School Construction Bond (QSCB) [http://www.cde.ca.gov/ls/fa/qs/]
Fiscal	Qualified School Construction Bond (QSCB) [http://www.cde.ca.gov/ls/fa/qs/]
Other	Authorization is for calendar year 2010.

Contacts

Program	Shannon Farrell-Hart, 916-323-3923, sfarrell@cde.ca.gov
Fiscal	Shannon Farrell-Hart, 916-323-3923, sfarrell@cde.ca.gov
Division	School Facilities & Transportation Services, 916-322-2470 (phone), 916-327-3954 (fax)