New Jersey Administrative Code
Title 6A - EDUCATION
Chapter 26 - EDUCATIONAL FACILITIES
Subchapter 20 - COMPREHENSIVE MAINTENANCE PLANS
Section 6A:26-20.9 - The maintenance factor in State debt service aid
Universal Citation: NJ Admin Code 6A:26-20.9
Current through Register Vol. 56, No. 6, March 18, 2024
(a) State debt service aid shall be calculated pursuant to 6A:26-3.8. The Maintenance Factor "M," pursuant to 6A:26-3.8(a), shall be 1.0 except when one of the following conditions applies, in which case the maintenance factor shall be as specified:
1. The maintenance factor for aid for reconstruction, remodeling, alteration, modernization, renovation, or repair, or for an addition to a school facility, shall be zero for all school facilities projects for which the school district fails to demonstrate that over the 10 years preceding issuance of the school bonds it incurred a net investment in maintenance of the related school facility of at least two percent of the replacement cost of the school facility, pursuant to 18A:7G-7.b and N.J.A.C. 6A:26A-4.1, using the area cost allowance of the year 10 years preceding the year in which the school bonds are issued; or
2. For new construction, additions, and school facilities aided under 18A:7G-7.b supported by financing issued for projects approved by the Commissioner after July 18, 2000, beginning in the fourth year after occupancy of the school facility, the maintenance factor shall be reduced according to the schedule in (b) below for all school facilities projects for which the school district fails to demonstrate in the prior fiscal year an investment in maintenance of the related school facility of at least 0.002 percent of the replacement cost of the school facility, determined pursuant to 18A:7G-7.b and 6A:26-20.8.
(b) A school district's failure to make the required expenditures for maintenance for existing or new facilities pursuant to (a) above shall result in a Maintenance Factor (M) of less than one, and shall reduce debt service aid as follows:
| Annual Maintenance Percentage | Maintenance Factor (M) |
| .199 percent to .151 percent | 75 percent |
| .150 percent to .100 percent | 50 percent |
| Less than .100 percent | Zero |
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