Sec. 10-292i. Computation of interest subsidy grants.
Sec. 10-292i. Computation of interest subsidy grants. (a) The amount of the
interest subsidy grant approved by the Commissioner of Education under the provisions
of sections 10-292c to 10-292n, inclusive, shall be the eligible percentage, as determined
in section 10-292g, times the eligible interest costs, provided such interest subsidy grant
amount and percentage may be adjusted by the Commissioner of Education to the same
extent that the grant for the school building project financed by the bonds of the town,
regional school district or regional educational service center to which such interest
subsidy grant relates is adjusted pursuant to section 10-286.
(b) In the case of any grants computed under this section, any federal funds or other
state funds received for such costs covered by the grant shall be deducted from cost
estimates prior to computation of the grant.
(P.A. 97-265, S. 91, 98.)
History: P.A. 97-265 effective July 1, 1997.