Qualified Zone Academy Bonds (QZABs)
The 'Tax Cuts and Jobs Act' enacted in December 2017 ended federal fund allocations of Qualified Zone Academy Bonds (QZABs) effective December 31, 2017.
The Qualified Zone Academy Bond Program was a federal program which allowed qualifying schools to borrow funds interest free for education purposes, except for new construction. To qualify for funding, a school must be located in an "enterprise community", "empowerment zone," or have 35% of their students eligible for free or reduced-cost lunches under the National School Lunch Act. In addition, a qualified school must have a partnership with a business that contributes at least 10% of the amount borrowed. Under the program, the school district pays the amount initially borrowed and the federal government gives the purchaser of the bonds a tax credit in lieu of interest payments.
Please email the Office of School Finance at email@example.com or call (614) 466-3825 for further information or assistance.
Last Modified: 2/20/2018 1:29:55 PM