The grant percentage for approved school projects shall be calculated based on the following formula, but no grant percentage shall be greater than 80 per cent.

1. (a) The percentage the commonwealth shall pay towards an approved school facilities project shall be determined by the following formula: Base Percentage (A) |m+ Community Income Factor (B1) |m+ Community Property Wealth Factor (B2) |m+ Community Poverty Factor (B3) |m+ Incentive Percentage (C).

   1. (A) Base Percentage = 31 percentage points.

   2. (B) Ability to pay percentage points (income/wealth factor) is determined as follows:

      1. (1) Community Income Factor = per capita income, as determined by the department of revenue, for a municipality as a per cent of the statewide average per capita income.

         The Community Income Factor is then determined by using the chart below.

         Income