Legislative Updates and Congressional Action
Qualified Zone Academy Bonds (QZABs)
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A r c h i v e d I n f o r m a t i o n
- School Renovation, IDEA and Technology Grants: The Department of Education's FY2001 Budget includes $1.1 billion for this new program. The program provides grants to local educational agencies to help them make urgently needed repairs and to pay for special education and construction-related technology expenses. Funds are distributed to states based on Title I LEA grant shares. States distribute 75% of their awards on a competitive basis to local educational agencies to make urgently needed school repairs, such as repair of roofs, plumbing and heating systems or meeting fire and safety codes. The remaining 25% of a State's award is distributed competitively to local educational agencies to use for technology activities related to school renovation or for activities authorized under Part B of the IDEA. School districts apply to the State to receive funding for either purpose.
- Charter School Facilities Financing Demonstration Program: The Department of Education's FY2001 Budget includes $25 million to establish a new competitive demonstration program that will award one-time grants to three or more applicants. These projects will demonstrate innovative credit enhancement techniques that help charter schools meet the cost of acquiring, constructing and renovating facilities by improving access to private capital. Nonprofit agencies, public entities and consortia of the two are eligible to apply for awards to guarantee or insure debt or leases so that charter schools may obtain or improve school facilities. Award recipients will also use these funds to help charter schools identify and obtain loans and to provide assistance in issuing debt, such as recruiting bond counsel and underwriters. If possible, the program will fund at least one project from each of the following three eligible entities: a public entity, such as a State or local governmental entity; a private entity; or a consortium of public and private entities.
- Qualified Zone Academy Bonds: Through the establishment of Qualified Zone Academy Bonds (QZABs), school districts with low-income populations can save on interest costs associated with financing school construction.
National Clearinghouse for Educational Facilities
- Created in 1997, the National Clearinghouse for Educational Facilities (NCEF) is an information resource for people who plan, design, build, operate and maintain K-12 schools. NCEF is funded by the U.S. Department of Education and is an affiliated Clearinghouse of the National Library of Education's Educational Resources Information Center (ERIC).
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This page last modified April 27, 2001 (sbw)