Note: Qualified School Construction Bond allocations are not grants; they are simply an authorization to seek out and utilize an interest-free bond from an entity desiring a tax credit in lieu of interest. Before submitting an application for a Qualified School Construction Bond authorization, it is advised that the Local Educational Agency meet with bond counsel to determine the appropriate use of funds.
2010 Qualified School Construction Bond Program Update
The California Department of Education received 130 QSCB applications by certified mail dated November 5 and three applications by certified mail after November 5. The total allocation available is $866,405,568 and the total estimated value of the November 5 applications is $2.2 billion, therefore the program is oversubscribed and the Department will be utilizing the priority ranking system prescribed in Assembly Bill 2560 for awarding allocations. First priority is the date of postmark, the second priority is Division of State Architect approval of the project(s) listed in the application, and the third priority is the greater percentage of district enrollment that qualifies for free and reduced priced meals. The Department is in the process of reviewing all applications and anticipates awarding allocations by the end of the year or in the first weeks of 2011.
2010 Qualified School Construction Bond Results
Power Point Presentation Qualified School Construction Bond Webinar (PPT; 221KB; 18pp.)
Accessible Version of the Power Point Presentation: Qualified School Construction Bond Webinar
2010 Qualified School Construction Bond Program Overview
2010 Qualified School Construction Bond Application (DOC; 248KB; 3pp.)
2010 Qualified School Construction Bond Frequently Asked Questions
Assembly Bill 2560 (Chapter 266, Statutes of 2010) (PDF; Outside Source)
IRS Guidance Notice 2010-17 (PDF; Outside Source)
2009 Qualified School Construction Bond Lottery Results
May 29, 2009 Key Policy Letter from Secretary of Education Arne Duncan (Outside Source)
Qualified Tax Credit Bond Rate (Outside Source)
