2008 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Lewis
Composite Index Transition Payments

Item 140 #27h

Item 140 #27h

First Year - FY2009 Second Year - FY2010
Education: Elementary and Secondary
Direct Aid To Public Education FY2009 $8,281,853 FY2010 $8,276,478 GF

Page 115, line 57, strike "$6,399,847,793" and insert "$6,408,129,646".
Page 115, line 57, strike "$6,599,719,818" and insert "$6,607,996,296".
Page 132, line 7, before "An additional", insert "a."
Page 132, after line 15, insert:
"b. An additional payment of $8,281,853 the first year and $8,276,478 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 2008-2010 biennium.  The additional payment shall be made to local school divisions in an amount equal to a percentage (as determined below) of the difference between the funding the division would have received in House Bill 30, as introduced, in Direct Aid to Public Education payments for Standards of Quality accounts in each year using their 2008-2010 composite index and the amount they would have received for these accounts in House Bill 30, as introduced, using their 2006-2008 composite index.
      Composite Index                Percentage: Year 1               Percentage: Year 2
       0.0000-0.1999                              70%                                        70%
       0.2000-0.3499                              40%                                        40%
       0.3500 or more                            10%                                        10%
For purposes of the calculation, state allocations shall include payment from Basic Aid, Sales Tax, Textbooks, Vocational Education, Gifted Education, Special Education, Prevention-Intervention and Remediation, Public School Employee Benefits (Retirement, Social Security, Group Life), English as a Second Language, and Remedial Summer School."

(This amendment provides $8.3 million the first year and $8.3 million the second year from the general fund to those selected schools that were financially negatively impacted by the update to their composite index.)