SB 0210 Reimbursement for state aid loss due to income factor
Committee:EDUCLR Number:S0895.01I
Last Action:02/07/95 - Hearing Conducted S Education Committee
Effective Date:August 28, 1995
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Current Bill Summary

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".