Citations Affected: None (noncode).
Synopsis: Education funding. Provides a one time grant to a school
corporation that is equal to the difference between: (1) the amount of
the school corporation's state tuition support for 2001 as calculated
under the state tuition support worksheet provided by the department
of education in July 2000, but using the most recent version of the data
required by the worksheet; and (2) the amount of state tuition support
the school corporation is entitled to receive for 2001 under state statute.
Specifies that the grant may not be considered in determining the
school corporation's state tuition support or general fund property tax
rate. Provides that in 2002 a school corporation may increase its
general fund property tax levy by an amount equal to the school
corporation's general fund property tax levy for 2001, as calculated
under the state tuition support worksheet provided by the department
in July 2000, but using the most recent version of the data required by
the worksheet, minus the amount of the school corporation's general
fund property tax levy for 2001. Specifies that the increase in the
general fund levy is allowed only for 2002 and may not be used in the
calculation of tuition support or the school corporation's maximum
general fund property tax levy in 2002 and thereafter.
Effective: Upon passage.
January 11, 2001, read first time and referred to Committee on Ways and Means.
A BILL FOR AN ACT concerning education finance.
distributions under
IC 21-3-1.7
may be used.
(d) The department shall do the following:
(1) Determine before July 1, 2001, which school corporations
are eligible for a grant under this SECTION.
(2) Pay the grants as follows to eligible school corporations
under this SECTION:
(A) One-third (1/3) of the grant on July 2, 2001.
(B) One-third (1/3) of the grant on September 4, 2001.
(C) One-third (1/3) of the grant on December 3, 2001.
(e) Notwithstanding any other provision, a grant provided to a
school corporation under this SECTION may not be considered in
determining the school corporation's state tuition support under
IC 21-3-1.7-8
or the school corporation's general fund property tax
rate under
IC 6-1.1-19-1.5.
(f) Notwithstanding IC 6-1.1-19, a school corporation may in
2002 increase its general fund property tax levy above the
maximum general fund property tax levy determined under
IC 6-1.1-19 by an amount determined under the following STEPS:
STEP ONE: Determine the amount of the school
corporation's general fund property tax levy for 2001, as
calculated under the state tuition support worksheet provided
by the department in July 2000, but using the most recent
version of the data required by the worksheet.
STEP TWO: Determine the amount of the school
corporation's general fund property tax levy for 2001 as
determined under
IC 21-3-1.7 and IC 6-1.1-19.
STEP THREE: Determine the greater of zero (0) or the result
of:
(A) the STEP ONE amount; minus
(B) the STEP TWO amount.
The increase in the general fund property tax levy under this
section is allowed only for 2002 and may not be used in the
calculation of tuition support under IC 21-3-1.7 or the school
corporation's maximum general fund property tax levy under
IC 6-1.1-19 in 2002 and thereafter.