Section 2606-J. Project reimbursement.
(a) General rule.--The Commonwealth shall reimburse a school entity that receives department approval on an application under section 2602-J(a)(3) by the amount calculated as follows:
(1) Multiply the base reimbursement amount by the adjustment factor.
(2) Multiply the product under paragraph (1) by the lesser of the project's enrollment and full-time equivalent building capacity.
(3) Multiply the product under paragraph (2) by the school entity's wealth factor.
(b) Limitation.--The maximum payment under this section shall not exceed 65% of a project's structural cost.
(c) Installment payments.--A school entity shall receive equal payments over 20 years totaling the amount determined for reimbursement under subsections (a) and (b).
(d) Adjustment factor.--Beginning July 1, 2020, the adjustment factor shall be zero.
(2606-J added July 2, 2019, P.L.417, No.70)