2000 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Couric
Differentiated 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 $10,257,904 FY2002 $8,383,309 GF

Page 105, line 38, strike "$2,523,429,019" and insert "$2,533,686,923".
Page 105, line 38, strike "$2,539,458,046" and insert "$2,547,841,355".
Page 117, line 4, after "/Direct Grants" insert "/Composite Index Transition Payments".
Page 118, after line 24, insert:
"d.  An additional payment of $10,257,904 the first year and $8,383,309 the second 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              Percentage             Year
0.0000-0.1999                   95%                  2001                   85%                   2002
0.2000-0.3499                   80%                  2001                   70%                   2002
0.3500-0.4999                   55%                  2001                   45%                   2002
0.5000 or more                  40%                  2001                   30%                   2002

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.)