2000 Session

Budget Amendments - SB30 (Committee Approved)

View Budget Item
View Budget Item amendments

Composite Index Transition Payment

Item 143 #34s

Item 143 #34s

First Year - FY2001 Second Year - FY2002
Education: Elementary and Secondary
Direct Aid To Public Education FY2001 $5,927,212 FY2002 $0 GF

Page 105, line 38, strike "$2,523,429,019" and insert "$2,529,356,231".
Page 117, line 4, after "/Direct Grants" insert "/Composite Index Transition Payments".
Page 118, after line 24, insert:
"d.  An additional payment of $5,927,212 the first year from the general fund shall be disbursed by the Department of Education to provide a transitional payment to 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 local school divisions requesting such payment, in an amount equal to a percentage (as determined below) of the difference between the funding the division would have received in Senate 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 Senate Bill 30, as introduced, using their 1998-2000 composite index.
Composite Index         Percentage            Year
0.0000-0.1999                   75%                  2001
0.2000-0.3499                   50%                  2001
0.3500-0.4999                   30%                  2001
0.5000 or more                  25%                  2001

For purposes of the calculation, state allocations shall include payment 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.)