2000 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Phillips
Composite Index Transition Payment

Item 143 #32h

Item 143 #32h

First Year - FY2001 Second Year - FY2002
Education: Elementary and Secondary
Direct Aid To Public Education FY2001 $116,253 FY2002 $114,911 GF

Page 105, line 38, strike "$2,523,429,019" and insert "$2,523,545,272".
Page 105, line 38, strike "$2,539,458,046" and insert "$2,539,572,957".
Page 117, line 4, after "/Direct Grants" insert "/Composite Index Transition Payments".
Page 118, after line 24, insert:
"d.  An additional state payment of $116,253 the first year and $114,911 the second year from the general fund shall be disbursed by the Department of Education to provide a transitional payment to Southwest Virginia school divisions experiencing a negative state funding impact due to the recalculation of the components of the composite index of local ability-to-pay for the 2000-2002 biennium.  The additional payment shall be made to the school divisions of Bland, Bristol, Grayson, Russell, Scott, and Washington, in an amount equal to seven percent of the difference between the funding the division would have received in House Bill 30, as introduced, in Direct Aid to Public Education payments in each year using their 2000-2002 composite index and the amount they would have received in House Bill 30, as introduced using their 1998-2000 composite index.  
For purposes of the calculation, state allocations shall include payments from Basic Aid, Textbooks, Vocational Education (SOQ), Special Education (SOQ), Gifted, Remedial, Public School Employee Benefits (Retirement, Social Security), Enrollment Loss, At-Risk, Maintenance Supplement, and Sales Tax."

(This amendment is self-explanatory.)