1. (a) School building aid grants shall be subject to the maximum allowable construction cost under RSA 198:15-b, III(a), pursuant to this section.
2. (b) The department shall use construction cost and inflation indices developed by the R.S. Means Company of Kingston, Massachusetts, as the basis for setting the annual maximum allowable construction cost and publish the maximum allowable construction cost no later than November 30 of each year.
3. (c) Subject to (d) below, for the purposes of calculating the maximum building aid award in Ed 321.19, eligible construction costs shall be forecasted out to June 30 of the fiscal year the ITF is signed using the 5-year average of the inflation indices reported by the R.S. Means Company of Kingston, Massachusetts.
4. (d) If the department has at least 3 localized and school type specific construction cost data, this data shall be used in place of R.S. Means Company of Kingston data.
5. (e) The actual amount of building aid granted for construction shall be based upon the actual construction cost or the eligible construction costs forecasted in the GAN, whichever is lower.

6. (f) For areas of renovation, the maximum building aid award shall be calculated as the maximum allowable construction cost as calculated in this section, multiplied by the renovation factor listed in Table 321-5 below:

   Table 321-5 Renovations Factor for Calculating the Maximum Allowable Building Aid Costs

   Age of Renovated Area (years)

   Renovation Factor for Maximum Allowable Construction Costs

   41 & older

   100%

   36-40

   94%

   31-35

   83%

   26-30

   70%

   21-25

   50%

   0-20

   0%

Source. #8265, eff 1-22-05; amd by 8631, eff 5-19-06; ss by #10363, eff 6-15-13; ss by #13054, eff 6-12-20 (formerly Ed 321.24); ss by #14023, eff 7-12-24; ss by #14215, eff 3-14-25