Smart Schools Bond Act (SSBA)
Background
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This NYS legislation was passed in the 2014 – ‘15 Enacted Budget and approved by the voters in a statewide referendum on Nov. 4, 1014.
The NYS Smart School Bond Act authorized the issuance of $2 billion of bonds to finance improved educational technology and infrastructure. RETURN TO TOP |
Intent
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To improve current learning opportunities for NYS K-12 students as well as future employment potential in the 21st Century job market.
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Usage
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Categories of eligible Capital Projects for which the SSBA allocations can be applied are defined as:
Districts should consider leveraging available E-Rate Category 1 and 2 funds to which they may be entitled to supplement Smart Schools Bond Act funds committed for wired and wireless connectivity. RETURN TO TOP |
Eligibility
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The 2014-15 Enacted State Budget included a methodology to calculate the Smart Schools Bond Act allocation amount for each eligible school district. Eligible school districts are those that receive Foundation Aid. The amount is proportional to the district’s share of total formula-based school aid in the 2013-14 school year, excluding Building Aid, Universal Prekindergarten Aid, and the Gap Elimination Adjustment.
Example: If a district receives 2% of this total State school aid, the school district’s Smart Schools Bond Act allocation would be $40 million (0.02 × $2,000,000,000). RETURN TO TOP |
Filing
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Payment
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A school district should allow appropriate time after the Smart School Investment Plan approval for submission of the claim, and the review and reimbursement process to take place. Any Smart Schools Bond Act receivable resulting from the claim should be recorded in a manner consistent with the school district’s revenue recognition policy. RETURN TO TOP |
< American Rescue Plan (March 2021)
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E-Rate >
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Note that New York State Education Dept. (NYSED) is still issuing guidelines for use of NYS's $7.9 billion allocated in the American Rescue Plan (ARP) passed by U.S. Congress in March 2021. Currently, available district funds must be spent by Sept. 30, 2024, although a deadline extension is possible. Sign up to be notified when significant content updates are posted.