Section 25-2502.43 - Basic education funding for 2003-2004 school yearFor the 2003-2004 school year, the Commonwealth shall pay to each school district a basic education funding allocation which shall consist of the following:
(1) An amount equal to the basic education funding allocation for the 2002-2003 school year pursuant to sections 2502.13 and 2502.41.(2) Where the school district received a grant under section 1709-B during the 2003-2004 school year but is not eligible to receive such a grant during the 2004-2005 school year, an amount equal to the grant amount it received during the 2003-2004 school year multiplied by fifty percent (50%).(3) Where the school district received funds pursuant to section 2502.30(a) during the 2003-2004 school year, an amount equal to the amount it received during the 2003-2004 school year.(4) A base supplement calculated as follows:(i) If the school district's 2004-2005 market value/income aid ratio is equal to or greater than seven thousand ten-thousandths (.7000): (A) Multiply the school district's 2004-2005 market value/income aid ratio by its 2003-2004 average daily membership.(B) Multiply the product from clause (A) by seven million five hundred thousand dollars ($7,500,000).(C) Divide the product from clause (B) by the sum of the products of the 2004-2005 market value/income aid ratio multiplied by the 2003-2004 average daily membership for all qualifying school districts.(ii) If the school district's 2004-2005 market value/income aid ratio is equal to or greater than four thousand ten-thousandths (.4000) and less than seven thousand ten-thousandths (.7000): (A) Multiply the school district's 2004-2005 market value/income aid ratio by its 2003-2004 average daily membership.(B) Multiply the product from clause (A) by thirty-four million dollars ($34,000,000).(C) Divide the product from clause (B) by the sum of the products of the 2004-2005 market value/income aid ratio multiplied by the 2003-2004 average daily membership for all qualifying school districts.(iii) If the school district's 2004-2005 market value/income aid ratio is less than four thousand ten-thousandths (.4000):(A) Multiply the school district's 2004-2005 market value/income aid ratio by its 2003-2004 average daily membership.(B) Multiply the product from clause (A) by five million dollars ($5,000,000).(C) Divide the product from clause (B) by the sum of the products of the 2004-2005 market value/income aid ratio multiplied by the 2003-2004 average daily membership for all qualifying school districts.(5) A poverty supplement calculated for qualifying school districts as follows:(i) To qualify for the poverty supplement, a school district's 2004- 2005 market value/income aid ratio must be equal to or greater than six thousand five hundred ten-thousandths (0.6500) and its personal income valuation when divided by its 2003-2004 average daily membership must be equal to or less than one hundred three thousand five hundred seventy-one dollars ($103,571).(ii) The poverty supplement shall be calculated for qualifying school districts as follows: (A) Multiply the school district's 2003-2004 average daily membership by thirty-three million dollars ($33,000,000).(B) Divide the product from clause (A) by the sum of the 2003-2004 average daily membership for all qualifying school districts.(6) A tax effort supplement calculated for qualifying school districts as follows:(i) To qualify for the tax effort supplement, a school district's 2002 equalized millage must be equal to or greater than 20.0 equalized mills.(ii) The tax effort supplement shall be calculated for qualifying school districts as follows: (A) Multiply the school district's 2003-2004 average daily membership by ten million dollars ($10,000,000).(B) Divide the product from clause (A) by the sum of the 2003-2004 average daily membership for all qualifying school districts.(7) A growth supplement calculated for qualifying school districts as follows:(i) To qualify for the growth supplement, a school district's 2003- 2004 average daily membership must be greater than its 2002-2003 average daily membership.(ii) The growth supplement shall be calculated for qualifying school districts as follows: (A) Subtract the school district's 2002-2003 average daily membership from its 2003-2004 average daily membership and multiply the difference by its 2004-2005 market value/income aid ratio.(B) Multiply the difference from clause (A) by thirteen million dollars ($13,000,000).(C) Divide the product from clause (B) by the sum of the differences from clause (A) for all qualifying school districts.(8) Each school district shall receive additional funding as necessary so that the sum of the amounts under section 2502.13 and paragraphs (4), (5), (6), (7) and this paragraph will equal at least two percent (2%) of the amount in paragraph (1).1949, March 10, P.L. 30, No. 14, art. XXV, § 2502.43, added 2004, July 4, P.L. 536, No. 70, § 27, imd. effective.