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Qualified Zone Academy Bonds (QZAB) Print E-mail

The Iowa Department of Education is pleased to announce the availability of the application for Qualified Zone Academy Bonds (QZABs) Authority. The Federal Taxpayer Relief Act of 1997 created the Qualified Zone Academy Bond (loan) Program to provide low or no interest financing for renovating school buildings and purchasing equipment.

These are financial instruments that provide low or no interest bonds (loans), which are subsidized by the federal government in the form of tax credits to the bondholder. To qualify the school:
  • must establish a partnership with a business,
  • must have at least 35 percent of the students attending be eligible for free or reduced price lunches,
  • must have the students subjected to the same academic standards and assessments as other students,
  • must be designed in cooperation with business to enhance the academic program
 
Contact:  Gary Schwartz  

Links

Empowerment Zone or Enterprise Community Locator Maps
Check an address for inclusion in an Empowerment Zone or Enterprise Community.  
Qualified Zone Academy Bonds (QZABs) FAQ, U.S. Department of Education
Frequently Asked Questions on QZABs. 
Qualified Zone Academy Bonds (QZABs) National Education Foundation
United States Department of Education web site provides information about the Qualified Zone Academy Bonds (QZAB) program.  The QZAB program is one of the few federal programs targeted on the truly disadvantaged communities in this nation.  It is very easy to set up and allows high poverty school districts to borrow money for vital needs while building a long term partnership with the private sector that enables everyone to benefit.
 
Qualified Zone Academy Bonds (QZABs), U.S. Department of Education
Information on QZABs provided by the U.S. Department of Education. 
Rebuilding America's Schools
REBUILDING AMERICA'S SCHOOLS - In 1997 The United States Congress enacted the Tax Payer Relief Act which authorized a little known debt instrument for school finance.  It is called Qualified Zone Academy Bonds or QZAB.  It allows qualifying schools and/or communities to borrow at little or NO INTEREST COST.
 

Last Updated ( Friday, 06 June 2008 )