A. The State may fund eligible costs of approved public school construction projects according to the State cost share percentage established in this regulation.
(1) The minimum State share of public school construction funding for eligible costs of approved projects is 50 percent.
(3) For Fiscal Year 2019, the State share percentages of public school construction funding for eligible costs of approved projects are as follows:
(4) Reductions in cost share that exceed -5% shall be phased in over 3 years so that a 1-year reduction in the cost share percentage does not exceed -5%.
(5) The State share percentage for the Maryland School for the Blind shall be 93 percent of eligible costs of approved projects.
C. Revisions to Percentages.
(1) By October 2010 and every 3 years thereafter, the IAC shall recommend to the Board of Public Works the cost share percentage to be applied to projects submitted for approval in the Fiscal Year 2013 local CIP and every 3 years thereafter.
(2) The IAC shall use the formula in §C(3) of this regulation to recommend revisions to the State cost share percentage.
(3) The IAC shall add the following amounts to calculate the recommended revised cost share amounts:
(a) The LEA's current State share of the Foundation program divided by the Foundation program of the LEA as defined under Education Article, §5-202, Annotated Code of Maryland;
(b) The current amount of State aid provided to the LEA by the guaranteed tax base program as defined under Education Article, §5-210, Annotated Code of Maryland, divided by the Foundation program of the LEA;
(c) 20 percent of the amount by which the LEA's free and reduced price meal percentage exceeds the Statewide free and reduced price meal percentage in the prior school year;
(d) 5 percent if the county where the LEA is located is a One Maryland county that has an unemployment rate greater than 1.5 times the State average unemployment rate;
(e) 5 percent if the county where the LEA is located is a One Maryland county that has a per capita income below 67 percent of the State average per capita income;
(f) The difference between the percent growth in the LEA's full-time equivalent enrollment, as defined by Education Article, §5-202, Annotated Code of Maryland, from the 6th prior year to the prior year, and the percent growth in the Statewide full-time equivalent enrollment from the 6th prior year to the prior year, provided this calculation results in a positive number; and
(g) 10 times the amount by which the county's and local board’s total outstanding school construction debt at the end of the 2nd prior fiscal year plus the county's total school construction expenditures from its operating budget from the 4th to the 2nd prior fiscal years exceeds 1 percent of the county wealth, as defined by Education Article, §5-202, Annotated Code of Maryland, for the prior fiscal year.