2004 Session

Budget Amendments - SB29 (Committee Approved)

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Increased Sales Tax Estimate

Item 148 #1s

Item 148 #1s

First Year - FY2003 Second Year - FY2004
Education: Elementary and Secondary
Direct Aid To Public Education FY2003 $0 FY2004 $16,666,667 GF

Page 82, line 29, strike "$1,233,899,374" and insert "$1,250,566,041".

(This amendment recognizes the increased distribution for public education that results from the increase in estimated sales tax revenue since one cent of sales tax is distributed to localities for public education, offsetting total SOQ costs. The increase in estimated sales tax revenue is based on the mid-session revenue re-forecast. There is a companion amendment in Item 147 that recognizes the associated offsets of approximately 55 percent in Basic Aid and Enrollment Loss. The net effect of these two amendments is an increased public education distribution of $7.4 million in FY 2004.)