If you are a public K-12 School meeting all 3 following criteria, you are eligible to apply for a QZAB 20-year zero interest Bond (Fed pays the interest):
- Location/Lunch: Public schools that have at least 35 percent of the school’s students are eligible for free or reduced-price lunch under the federal lunch program (National School Lunch Act) or located in an Empowerment Zone or Enterprise Community.
- 10% Private Business Contribution: QZAB can only be issued if the school district (LEA) secures a private/nonprofit entity partner willing to contribute cash or in-kind services or materials having an acceptable present fair market value as of the date of the QZAB bond issuance of not less than 10% of the net present value of the QZAB. The private partner must work with the school to plan and implement a QZAB academy program “to increase graduation and employment rates, and better prepare students for college and the workforce under a plan approved by the local school system.”
- Education Plan for Use of Funds: Public schools that have an education plan that is approved by their school districts and in which students are subject to the same standards and assessments as other students in the district.