Section 151.60  Grant Index

a)         The amount of a school construction project grant or debt service grant shall be determined by using the district's grant index and the formulas given in Sections 5-5, 5-35(a), and 5-45 of the School Construction Law.

b)         Separate grant indexes shall be calculated for elementary districts, high school districts, and unit districts.

c)         For each grant issued after September 1, 1999, the equalized assessed valuation and average daily attendance used in calculating a district's grant index shall be taken from the district's general state aid claim filed in the fiscal year in which the grant entitlement is made.  The average daily attendance to be used shall be the district's best three months average daily attendance.  A grant index shall lapse if a grant is not awarded within 36 months after entitlement, and a new grant index shall be issued based upon the district's most recent general state aid claim.

(Source:  Amended at 24 Ill. Reg. 497, effective January 3, 2000)