Section 15324 - Allowances for Expense of Replacing Class 2 School BusesThe Superintendent of Public Instruction shall not approve, as a basis for computation of financial allowances for reimbursement of replacement expenses incurred by a school district replacing a Class2 bus, expenditures which exceed the lesser of the following:
(a) The difference between the purchase price of the bus paid by the district, subject to the provisions of Section 15272, and the amount of money received by the district for the sale, or credit received for the trade-in, of the bus.(b) The difference between the purchase price of the bus paid by the district, subject to the provisions of Section 15272, and the value of the bus at the date of application for allowance, as such value is shown in any published used-automobile wholesale value guide in general use in California selected by the Superintendent of Public Instruction.Cal. Code Regs. Tit. 5, § 15324