In addition, local property tax revenue and specific ownership tax revenue are higher than anticipated, resulting in an increase in the local share of total program funding.
The bill declares the general assembly's intent to maintain total program funding after application of the budget stabilization factor at the amount of the original appropriation for the 2021-22 budget year.
The bill appropriates $91,433,760 in cash funds from the state education fund to distribute to school districts and institute charter schools that received lower than anticipated funding for at-risk pupils for the 2021-22 budget year. The appropriation is additional funding and does not affect a district's or institute charter school's total program.
The bill decreases the appropriation for the state share of total program funding by $139,565,749 in cash funds from the state education fund and adjusts the 2021-22 state fiscal year long bill accordingly.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)