Sec. 14.11.008. - School district participation in grant program.
(a) In order to receive a grant under this chapter or an appropriation under AS 37.05.560 , a district must provide a percentage share of the project cost, as determined under (b) or (c) of this section. A district shall provide the required participating share within three years after the date that the appropriation bill funding the grant is passed by the legislature.
(b) The required participating share for a municipal school district is based on the district's full value per average daily membership (ADM), which is calculated by dividing the full and true value of the taxable real and personal property in the district, calculated as described in AS 14.17.510 by the district ADM as defined in AS 14.17.990 , for the same fiscal year for which the valuation was made. The municipal district's full value per ADM determines the district's required participating share, as follows:
Full Value Per ADM District Participating Share
$1 - $150,000 5 percent
150,001 - 275,000 10 percent
275,001 - 800,000 30 percent
over 800,000 35 percent.
(c) The required participating share for a regional educational attendance area is two percent. The participating share for any district may be satisfied by money from federal, local, or other sources, or with locally contributed labor, material, or equipment.
(d) If a district with full value per ADM of $200,000 or less can demonstrate in writing that it is unable to provide the required participating share or that the participating share required under this section will jeopardize receipt of federal assistance, the commissioner may waive all or a portion of the required participating share.
(e) State funds provided under this chapter may not be a source of the participating share required under (b) or (c) of this section.
(f) [Repealed, Sec. 11 ch 3 SSSLA 2002].