Title: School Funding Formula Revision
Signed by Governor Mike Rounds
Title: School Funding Formula Revision
Vote to pass a bill that revises the index factor for the formula that determines the amount of state funding for public schools to 4 percent or the percentage change in the consumer price index for the previous year, whichever is greater, whereas existing law set the index factor at 3 percent or the percentage change in the consumer price index for the previous year, whichever is less.
-Prohibits the index factor from exceeding the projected state general fund increase or seven percent, whichever is less, and prohibits the index factor from being less than zero (Sec. 1).
Title: School Funding Formula Revision