California Education Code

§ 19962

EDC § 19962Div. 1 · Title 1 · Part 11 · Ch. 11 · Art. 2

Statute text

(a)Each grant recipient shall provide matching funds from any available source in an amount equal to 35 percent of the costs of the project. The remaining 65 percent of the costs of the project shall be provided through allocations from the fund.

(b)Qualifying matching funds shall be cash expenditures in the categories specified in Section 19957 which are made no earlier than three years prior to the submission of the application to the State Librarian. Except as otherwise provided in subdivision (c), in-kind expenditures shall not qualify as matching funds.

(c)Land donated or otherwise acquired for use as a site for the facility, including, but not limited to, land purchased more than three years prior to the submission of the application to the State Librarian, may be credited towards the 35 percent matching funds requirement at its appraised value as of the date of the application.

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Legislative history

Added by Stats. 1988, Ch. 49, Sec. 1. Approved in Proposition 85 at the November 8, 1988, election.