|SB 0210||Reimbursement for state aid loss due to income factor|
|Last Action:||02/07/95 - Hearing Conducted S Education Committee|
|Effective Date:||August 28, 1995|
SB 210 - Under the state school aid "foundation formula"
(Section 163.031, RSMo.), the state aid deduction for local
school tax revenue is multiplied by an "income factor" which is
based upon the ratio of average income in the county to average
income in the state. The act provides that districts with an
"income factor" of 1.0 or greater shall be reimbursed from the
state school moneys fund for any decrease in state aid due to
economic development which increases the equalized assessed
valuation of the district, if such school district is not held
harmless under the state school aid "foundation formula".