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ERIC Number: EJ864154
Record Type: Journal
Publication Date: 2009-Oct-7
Pages: 2
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: ISSN-0277-4232
Facilities Bonds Prove Hot Item under Stimulus
Klein, Alyson
Education Week, v29 n6 p1, 22 Oct 2009
Construction bonding authority--a technical, and often obscure, source of capital funding for school districts--has emerged as a hot ticket for those looking to finance school facilities work under the federal government's economic-stimulus program. School districts left out of the loop for direct funding are lining up for some of at least $24 billion in construction bonds under the $787 billion American Recovery and Reinvestment Act. There is stiff competition in some places for a new program created under the stimulus law--Qualified School Construction Bonds--that can be used to build, upgrade, or repair school facilities. Funding for school facilities was a major flash point in congressional negotiations last winter over the stimulus law, which includes about $100 billion in aid for education. Opponents feared that the inclusion of money for construction would set a precedent for federal spending in an area typically left to states and districts. In the end, a compromise allowed states and districts to use any money left over from the $39.5 billion State Fiscal Stabilization Fund to finance school modernization and repair.
Editorial Projects in Education. 6935 Arlington Road Suite 100, Bethesda, MD 20814-5233. Tel: 800-346-1834; Tel: 301-280-3100; e-mail: customercare@epe.org; Web site: http://www.edweek.org/info/about/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A