|SB 0194||Certain inappropriate school fund transfers will not cause state aid reduction|
|LR Number:||S0020.03I||Fiscal Note:||0020-03|
|Last Action:||02/10/99 - Hearing Conducted S Education Committee||Journal page:|
|Effective Date:||Emergency Clause|
SB 194 - Current law, section 165.011, RSMo, allows qualifying school districts to transfer a limited amount of operating funds for capital projects. The allowed transfer amount is approximately a tax rate of .24 cents times the Guaranteed Tax Base (GTB) times the district pupil count, and is about $270 per pupil. Section 165.011, RSMo, also requires DESE to withhold, from the district's state aid the following year, the full amount of any transfer made in violation of that section.
The act provides an exemption from the state aid penalty for a certain class of school districts which currently only includes McDonald County R-I. To qualify for exemption under this act, the transfer must occur prior to the 1999-2000 school year and the school district must meet the following criteria: a) The district has an area of at least 400 square miles; b) The district has an assessed valuation of less than $30,000 per pupil; and c) The district has had an enrollment increase of at least 50% in the five year period preceding the transfer.
The act contains an emergency clause.