HARRISBURG — Butler County Community College is among hundreds of agencies nationwide that might be eligible for a slice of a $67 million settlement with Bank of America.

According to a press release by Pennsylvania Attorney General Tom Corbett on Tuesday, Bank of America will pay the settlement in relation to “a nationwide scheme to rig bids and other anticompetitive conduct that defrauded state agencies, municipalities, school districts and nonprofit organizations.”

Nearly $4 million from the settlement is expected to reimburse affected entities in this state alone.

Nils Frederiksen, spokesman for Corbett’s office, said these entities “did not lose any money. They just did not get the amount of interest they could have made, or they paid higher fees than they would have, if the process had not been tainted.”

According to the press release, the settlement says between 1998 and 2003, Bank of America along with other financial institutions and brokers allegedly rigged bids, received and provided “last looks” on bids and submitted non-competitive “courtesy” bids on investments.

The alleged schemes enriched financial institutions or brokers and caused state, local and nonprofit entities to enter into contracts that cost more or earned less than they should have received in a competitive marketplace.

The community college is on a list of more than 100 entities in this state alone believed to have had at least one tainted transaction, Frederiksen said.

The details of the college’s alleged transaction and how much money the college could be eligible to receive was not available from the attorney general’s office. As the investigation continues other potentially affected entities in Butler County could be identified, Frederiksen said.

All of the Pennsylvania entities that are eligible to participate in this settlement will be contacted with instructions about how to file a claim. A claim administrator will make the final determination on which entities are eligible and how much each receives.

As of Tuesday, the college had not yet been contacted, said spokeswoman Susan Changnon. Officials at the college weren’t immediately available to further answer questions.

In his written statement, Corbett noted the settlement is the result of a national investigation on the marketing and sale of municipal derivative investments, which are often used by government agencies and nonprofit organizations to reinvest the proceeds of tax-exempt bond offerings until those funds are needed.

“Municipal governments and school systems across Pennsylvania believed they were doing the right thing — making investments to earn additional money for their citizens,” Corbett said in the press release. “In reality, they were victimized by complex schemes to rig bids and avoid competition, designed to generate additional profits for Bank of America and the other co-conspirators.”

Bank of America, according to the press release, was the first and only entity that voluntarily self-reported the wrongdoing to the U.S. Department of Justice. Under the Justice Department’s Corporate Leniency Program, Bank of America was granted conditional leniency based on its acknowledgment of wrongdoing, significant cooperation and the payment of restitution.