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2006 SESSION

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HB 584 Education; Computation of composite index.

Introduced by: Vivian E. Watts | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Education; Computation of composite index. Codifies the current Standards of Quality (SOQ) funding formula and calculation of composite index of local ability-to-pay, and modifies the formula that determines each locality's ability to pay for its share of providing an educational program meeting the prescribed SOQ to (i) incorporate tax values and population estimates for the fiscal year ending one year prior to the fiscal biennium in which the distribution takes place; (ii) provide for a population density adjustment in certain localities; and (iii) incorporate median, rather than average, adjusted gross income.

In addition, the respective weights granted to the various wealth indicators are updated to use 1997 figures.

This measure reflects certain recommendations included in the Joint Legislative Audit and Review Commission (JLARC) Review on Elementary and Secondary School Funding (February 2002).


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