Section 15.1-27-20.2 - Taxable valuation - Impact on state aid1. If a school district's imputed taxable valuation per student is greater than one hundred fifty percent of the state average imputed taxable valuation per student, the superintendent of public instruction shall: a. Determine the difference between the district's imputed taxable valuation per student and one hundred fifty percent of the state average imputed taxable valuation per student;b. Multiply the dollar amount determined under subdivision a by the district's average daily membership;c. Multiply the dollar amount determined under subdivision b by one hundred eighty-five mills;d. Multiply the dollar amount determined under subdivision c by a factor of 0.75; ande. Subtract the dollar amount determined under subdivision d from the total amount of state aid to which the district is otherwise entitled.2. For purposes of this section, "imputed taxable valuation" means the valuation of all taxable real property in the district plus an amount determined by dividing the district's mineral and tuition revenue by sixty percent of the district's general fund mill levy. Beginning July 1, 2008, "imputed taxable valuation" means the valuation of all taxable real property in the district plus an amount determined by dividing seventy percent of the district's mineral and tuition revenue by the district's general fund mill levy.