Relating to public school funding by establishing the state percent of growth and the categorical state percent of growth for the budget year beginning July 1, 2019, specifying citation references, modifying provisions relating to the property tax replacement payments, and including effective date provisions

The bill also establishes a categorical state percent of growth of percent for the budget year beginning July 1, 2019. The categorical state percent of growth is used to calculate the amount of supplemental state aid for each of the categorical funding supplements.16B provides for school district property tax replacement payments. For each budget year beginning on or after July 1, 2018, each school district’s property tax replacement payment amount is equal to the school district’s weighted enrollment for the budget year multiplied by the difference of the following: (1) the regular program state cost per pupil for the budget year beginning July 1, 2018, multiplied by 100 percent less the regular program foundation base per pupil percentage; and (2) the regular program state cost per pupil for the budget year beginning July 1, 2012, multiplied by 100 percent less the regular program foundation base per pupil percentage.5 percent. The bill modifies the property tax replacement payment calculation for budget years beginning on or after July 1, 2019. For budget years beginning on or after July 1, 2019, each school district’s property tax replacement payment amount is equal to the school district’s weighted enrollment for the budget year multiplied by the difference of the following: (1) the regular program state cost per pupil for the budget year beginning July 1, 2019, multiplied by 100 percent less the regular program foundation base per pupil percentage; and (2) the regular program state cost per pupil for the budget year beginning July 1, 2012, multiplied by 100 percent less the regular program foundation base per pupil percentage. The bill takes effect upon enactment.