| SB 0553 | Alters the foundation formula by completely removing the line 1(b) calculation |
| Sponsor: | Bartle | |||
| LR Number: | 1844S.01I | Fiscal Note: | 1844-01 | |
| Committee: | Education | |||
| Last Action: | 02/25/03 - Second Read and Referred S Education Committee | Journal page: | S310 | |
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 553 - This act removes the line 1(b) formula calculation (which currently determines an entitlement amount for any portion of a levy above the minimum-required levy) and alter the line 1(a) calculation accordingly, so that a district's entitlement would be the product of: multiplying the number of eligible pupils by the district's operating levy for school purposes multiplied by the guaranteed tax base per eligible pupil times the proration factor.
In other words, under the provisions of this act, should the
formula be underfunded, all of the districts' entitlements will
be calculated utilizing the same proration factor, regardless of
the levy a district imposes. The current formula, if
underfunded, applies a lower proration factor when calculating
the portion of a district's entitlement which is above $2.75.
DONALD THALHUBER