Public Benefit Allowance (PBA) [Education] Law and Legal Definition

According to 34 CFR 12.2 [Title 34 – Education; Subtitle A -- Office of the Secretary, Department of Education; Part 12 -- Disposal and Utilization of Surplus Federal Real Property for Educational Purposes; Subpart A – General], the term Public benefit allowance ("PBA") means “the credit, calculated in accordance with Appendix A to this part, given to a transferee or lessee which is applied against the fair market value of the surplus Federal real property at the time of the transfer or lease of such property in exchange for the proposed educational use of the property by the transferee or lessee.”