2006 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Watts
Adjust Composite Index Funding Formula

Item 135 #26h

Item 135 #26h

First Year - FY2007 Second Year - FY2008
Education: Elementary and Secondary
Direct Aid To Public Education FY2007 $142,600,000 FY2008 $141,900,000 GF

Page 108, line 9, strike "$5,870,354,889" and insert "$6,012,954,889".
Page 108, line 9, strike "$6,000,814,369" and insert "$6,142,714,369".
Page 111, line 38, after "November 15, 2005.", insert:
"The Department of Education shall add in the computation of the composite index of local ability-to-pay a population density adjustment set at the sixth-seventh percentage in localities as developed by certain recommendations from the Joint Legislative Audit and Review Commission's 2002 report Review of Elementary and Secondary School Funding.  However, after the population density adjustment is applied to the raw composite index of these localities, the 0.8000 cap shall still apply."

(This amendment provides $142.6 million the first year and $141.9 million the second year from the general fund to pay for the additional costs of adjusting the composite index funding formula to include a population density component set at the 67 percentile and higher. This amendment provides additional funds primarily to localities where the population densities are higher than the state's average.)