Section 7. There shall be a limit on the estimated amount of grants approved by the authority during a fiscal year. For fiscal year 2020, the limit shall be $800,000,000. For each fiscal year thereafter, the limit shall be the limit for the previous fiscal year plus the lower of: (i) the rate of growth in the dedicated sales tax revenue amount as defined in subsection (a) of section 35BB of chapter 10; or (ii) 4.5 per cent.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 70b - School Building Assistance Program
Section 1 - School Building Assistance Program; Establishment
Section 1a - School Building Authority
Section 3a - School Building Advisory Board; Establishment; Members
Section 3d - Accounts; Annual Report
Section 5 - School Facilities Grant Applications
Section 6 - Examination of Application by Board of Education; Notice of Approval or Rejection
Section 7 - Limit on Estimated Amount of Grants Approved by Authority
Section 10 - Facilities Grants for Approved Projects; Formula
Section 11 - Disbursement Schedule
Section 14 - Approved Alternative Projects; Allowable Costs
Section 16 - Maintenance Assessment Program for School Buildings
Section 17 - Annual Report; Anticipated Needs for School Facilities Projects
Section 19 - Notification of Actual Interest Rate for Bond Issuance