N.J. Admin. Code § 6A:25-3.1

Current through Register Vol. 56, No. 23, December 2, 2024

Section 6A:25-3.1 - Application requirements

(a) A school district seeking to initiate a school facilities project funded by a QZAB shall apply to the Department on a Commissioner-provided form for approval of the school facilities project for QZAB funding.

(b) The application must demonstrate the school facilities project meets the requirements for participation in the QZAB Program, as set forth in 6A:25-2.1through 2.4, as well as the Federal requirements set forth in 26 U.S.C. § 54Eand regulations thereunder (see 26 CFR 1.1397E-1).

(c) The application must include the following:

1. Evidence the school facilities project is for a school facility meeting the school location or student body composition requirements of 6A:25-2.1;

2. Evidence the school facilities project has been approved by the Department for rehabilitation, pursuant to N.J.A.C.

6A:25-2.2;

3. A copy of the comprehensive educational plan approved by the school district, pursuant to 6A:25-2.4;

4. Certification by the issuer that it has the written commitment of the private entity to satisfy the private contribution requirement, pursuant to 6A:25-2.3, or to make qualified contributions for one or more qualified zone academy school district applicants sufficient to meet the private contribution requirement for each school district applicant; and

5. Certification by the issuer that it has the school district's written approval of the QZAB bond issuance.

(d) A school district applying for QZAB funding may submit to the Department an application for one or more school facilities projects for which it seeks funding, provided the application satisfies this subsection's requirements for each school facilities project.

N.J. Admin. Code § 6A:25-3.1

Adopted by 47 N.J.R. 715(a), effective 4/6/2015.