N.J. Admin. Code § 6A:25-5.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 6A:25-5.2 - Application review and approval

(a) The deadline for accepting applications shall be July 1 annually.

(b) The Department must assess each application on a first-come, first-served basis to determine if it is complete. If the application is determined to be incomplete, the Department must inform the charter school in writing, listing all deficiencies and missing required information. If the application is determined to be complete, the Department must review the application for eligibility for QZAB funding within 30 days of the determination of completeness.

(c) The Department must approve all applications that meet the QZAB Program requirements as described or referenced in this chapter, subject to the availability of bond cap under 26 U.S.C. § 54E.

(d) If a charter school's application is approved, the Department must notify the charter school and the issuer that a qualified zone academy in the charter school is eligible for QZAB funding.

(e) If a charter school application does not meet the QZAB Program requirements, the Department must notify the charter school and the issuer in writing, informing them of the reason for the denial.

(f) If the NJEDA is the issuer of QZABs for the charter school, the Department must notify in writing the charter school eligible for funding to apply to the NJEDA pursuant to N.J.A.C. 19:31, to the extent applicable, and to utilize the NJEDA application for financial assistance available at http://www.njeda.com/applications.asp.

N.J. Admin. Code § 6A:25-5.2

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