18A:58-33.24 Additional State school building aid.

3. Additional State school building aid shall be made available to school districts, county special services school districts and county vocational school districts in accordance with the provisions of this act for the payment of debt service (interest and principal) on bonds and notes (as hereinafter defined) entitled to the benefits of this act, provided that the amount of bonds entitled to the benefits of this act shall not exceed $100,000,000, and provided further that of the total principal amount of the bonds, no more than $80,000,000 shall be allocated to the renovation or replacement of aged and deteriorated school buildings and construction of new facilities in districts with financial need and no more than $40,000,000 shall be allocated to the expansion and establishment of secondary vocational educational facilities to serve students with disabilities between the ages of 13 and 21 who would benefit from vocational education in local school districts, county special services school districts, and county vocational school districts with financial need. The amount of aid payable to any local school district for the renovation or replacement of aged and deteriorated school buildings and construction of new facilities shall not exceed an amount equal to 20 percent of the total aid allocated to this program and in any year such aid shall not exceed an amount equal to $25 per pupil in resident enrollment in such school district on September 30, 1976. The amount of aid payable in any year to any local school district, county special services school districts, or county vocational school district for the expansion and construction of secondary vocational education facilities to serve students with disabilities between the ages of 13 and 21 shall be no more than 75 percent of the total debt service of bonds and notes for secondary vocational education projects constructed under the provisions of this act and shall not exceed an amount equal to the number of pupils with disabilities between the ages of 13 and 21 enrolled in such school district whose vocational education needs were not met due to the lack of suitable facilities prior to any application date for funds under this act, multiplied by a standard per student construction cost, established pursuant to guidelines promulgated by the Commissioner of Education.

L.1978, c.74, s.3; amended 2017, c.131, s.55.