N.J. Admin. Code § 6A:25-5.1

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

Section 6A:25-5.1 - Application requirements

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

(b) The application must demonstrate the charter school capital project meets the requirements for participation in the QZAB Program, as set forth in 6A:25-4.1through 4.4, 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. The name of the school and the name, street address, phone number, and e-mail address of a contact person;

2. A description of the capital project, including evidence the charter school capital project is for a school facility meeting the charter school location or student body composition requirements of 6A:25-2.1and 4.2, respectively;

3. Evidence the charter school capital project is for rehabilitation, pursuant to 6A:25-4.2;

4. A copy of the comprehensive educational plan approved by the charter school, pursuant to 6A:25-4.4;

5. Identification of the issuer of QZABs for the charter school;

6. Certification by the charter school that it has the written commitment of the private entity to satisfy the private contribution requirement, pursuant to 6A:25-4.3. This requirement may also be satisfied by the issuer's certification that it has the written commitment of the private entity to make qualified contributions to meet the private contribution requirement for the charter school applicant; and

7. A resolution evidencing that the issuer has the charter school's written approval of the QZAB bond issuance.

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

N.J. Admin. Code § 6A:25-5.1

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