Establishes multi-year cost allowances for up to four new construction projects in the Mount Vernon city school district.
The bill amends the education law to establish multi-year cost allowances for up to four new construction projects in the Mount Vernon city school district. These allowances can be utilized twice within the first five-year period. Subsequent allowances can only be established ten years after the first maximum cost allowance. This change applies to projects authorized by a bond proposal approved by voters on March 7, 2017. The act takes effect immediately.
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