SB 424 - Under a provision of law that will become effective July 1, 2015, if the amount of funding appropriated for the foundation formula is not sufficient to fully fund all school districts, the Department of Elementary and Secondary Education must adjust the state adequacy target to accommodate the appropriation level. Payments to hold-harmless districts are prohibited from being reduced. This act delays the effective date of these provisions until July 1, 2017. This act will become effective on July 1, 2015, or upon passage and approval, whichever occurs later. This act is similar to a provision contained in CCS/SCS/HCS/HB 42 (2015). MICHAEL RUFF