SUMMARY: This bill would amend Part 4 of Article 6 of Chapter 2 of Title 20 (QBE) to adjust equalization grants to school systems when appropriations are too low to fund the original act.  It has a sunset of July 1, 2013.

REQUIREMENTS:

• When funds are insufficient, the SBOE would allocate equalization grants as follows:
  • Systems between the 1st and 25^th percentiles would receive a minimum of 95% of the amount normally calculated.
  • Systems between the 26^th and 50^th percentiles would receive a minimum of 80% of the amount normally calculated.
  • Systems between the 51^st and 75^th percentiles would receive the remaining amount as normally calculated.
  • Systems above the 75^th percentile would receive no equalization grant, as always.