RSA 198:15-d: Time of Computation of Grant.

As of January 1 in each year, the department of education shall cause to be computed the amount of the annual grants for school building aid to be paid to eligible school districts and chartered public schools in the succeeding fiscal year. The computation shall be based upon the total of eligible costs of construction of school buildings approved by the legislative body of the school district or chartered public school board of trustees and the department of education for which loans are outstanding for the fiscal year in which the computations are made.