954                               LAWS OF MARYLAND                       [CH. 405

(3) The current expense incentive aid to be paid to each county
and Baltimore City shall be the amount determined by applying the
percentage calculated in paragraph (2) to the amount calculated
under paragraph (1) of this section.

130. School building construction aid program.

(a)    Establishment.—There is hereby created and established the
school building construction aid program for the purpose of granting
State aid to the counties and to the City of Baltimore to finance the
construction of school buildings and school facilities.

(b)    Amount of payments; regulations for administration of pro-
gram; approval of expenditures; manner of making payments; re-
duction of projects when appropriation insufficient.—For the school
year 1967-68 and thereafter, each county and Baltimore City shall
be entitled to and shall be paid by the State of Maryland each year
in the manner and subject to the limitations hereinafter provided
an amount to be known as school building construction aid which
shall be calculated as follows:

(1)    The State shall share in an expenditure for school construc-
tion which shall equal 80 per cent of approved expenditures up to
$1,500 times the number of "pupils housed" in school buildings for
which construction contracts have been let during the current fiscal
year. For 1967-68 only, the product of 50 per cent of the number of
kindergarten pupils enrolled as of September 30, 1966, and $1,500
shall be added to the approved expenditures in making this calcu-
lation.

(2)    The State shall also share in an amount equal to 80 per cent
of the principal and interest payments due during the current fiscal
year on local debt for school construction to house pupils, as defined
in paragraph (5) of the subsection, outstanding or obligated as of
June 30, 1967, exclusive of any debt obligated for school construc-
tion included in the provisions of subparagraph (1) of the subsec-
tion. "Local debt for school construction" as used in this paragraph
shall include any debt incurred as the result of moneys made avail-
able to any political subdivision under any bond issue obligating the
credit of the State of Maryland.

(3)    The State percentage share shall be the same as that used
for the current expense incentive aid as defined in Section 129(2) of
this Article. This percentage should be applied to the sum of the
amounts calculated in subparagraphs (1) and (2) of this subsec-
tion to determine the State share.

(4) In no event shall the State school building construction aid
for any county or Baltimore City for any school year be less than the
amount the county or Baltimore City would have received during
that year under the provisions of the incentive fund for school con-
struction program in effect in 1966-67.

(5) The State Department of Education sh