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1998 SESSION

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HB 349 Schools; computation of composite index of local ability to pay.

Introduced by: Jay Katzen | all patrons    ...    notes | add to my profiles

SUMMARY:

Computation of composite index of local ability to pay. Provides that a city or county having a population of less than 7,000 and comprising a single school division with less than 1,100 students in average daily membership (ADM) shall be deemed to have a population of 7,000 and 1,100 students in average daily membership in such school division for purposes of computing the composite index of local ability to pay or "local composite index" (LCI) as formulated in the appropriation act.

The locality's share of Standards of Quality (SOQ) costs for public education is apportioned pursuant to the composite index of local ability to pay. This weighted formula compares three local measures of wealth--real property values, adjusted gross income, and local option sales taxes--to statewide averages and adjusts these indicators by student population and total population. The appropriation act sets a composite index of .8000 as the maximum index that will be used to compute local shares, thereby guaranteeing a minimum state contribution of 20 percent in those localities with a high fiscal capacity.


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