2007 Session

Budget Amendments - HB1650 (Member Request)

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Chief Patron: May
Adjust Composite Index for High Growth Divisions

Item 135 #6h

Item 135 #6h

First Year - FY2007 Second Year - FY2008
Education: Elementary and Secondary
Direct Aid To Public Education FY2007 $16,100,000 FY2008 $17,200,000 GF

Page 131, line 19, strike "$5,831,220,867" and insert "$5,847,320,867".
Page 131, line 19, strike "$6,004,522,879" and insert "$6,021,722,879".
Page 136, after line 36, insert:
"f. Each locality whose total reported September 30th student membership growth has exceeded five percent or more for any two of the three consecutive years for 2004, 2005 and 2006 may elect at its option to have its composite index of ability-to-pay reduced by 10 percent.  Each locality which elects this option must have certified its intention to do so on or before June 1, 2007."

(This amendment provides $16.1 million the first year and $17.2 million the second year from the general fund to localities who are eligible to have their composite index lowered by 10 percent due to the school division's growth in September 30th student membership of at least five percent for two of the three years during 2004-2007. Currently, only Loudoun County School Division qualifies for this additional funding.)