Strike
everything after the enacting clause and insert:
"Section 1. Calculation of state aid allocations;
school districts
A. By the close of
business on October 15, 2009, the department of education shall apportion to
each qualifying school district from monies appropriated for basic state aid
and additional state aid for fiscal year 2009-2010 an amount determined as
follows:
1. Identify the total
ending cash balance of each school district in this state as of June 30, 2009
in its maintenance and operation funds, capital outlay funds and soft capital
allocation funds.
2. Calculate for each
school district in this state the sum of the amounts identified in paragraph 1
of this subsection.
3. Identify for each
school district in this state the amount, if any, that is budgeted for budget
balances for fiscal year 2009‑2010 pursuant to section 15-918.04,
subsection C, Arizona Revised Statutes, section 15-919.04, subsection D,
Arizona Revised Statutes, section 15-943.01, Arizona Revised Statutes, and
section 15‑947, subsection D, paragraph 4 and subsection E, paragraph
2, Arizona Revised Statutes.
4. Calculate for each
school district in this state the sum of the amounts identified in paragraph 3
of this subsection.
5. Subtract for each
school district in this state the amount determined in paragraph 4 of this
subsection from the amount determined in paragraph 2 of this subsection.
6. Identify the total
revenue received by each school district in this state for its maintenance and
operation funds, capital outlay funds and soft capital allocation funds for
fiscal year 2008-2009, excluding the beginning cash balances in each of those
funds.
7. Calculate for each
school district in this state the sum of the amounts identified in paragraph 6
of this subsection.
8. Identify the total
P.L. 81-874 revenue received by each school district in this state for its
maintenance and operation funds, capital outlay funds and soft capital
allocation funds for fiscal year 2008-2009.
9. Calculate for each
school district in this state the sum of the amounts identified in paragraph 8
of this subsection.
10. Divide for each
school district in this state the amount determined in paragraph 9 of this
subsection by the amount determined in paragraph 7 of this subsection.
11. Multiply the quotient
determined in paragraph 10 of this subsection by the amount determined in
paragraph 5 of this subsection.
12. Subtract the amount
determined in paragraph 11 of this subsection from the amount determined in
paragraph 5 of this subsection.
13. Identify for each
school district in this state the amount of basic state aid and additional
state aid that was scheduled to be apportioned on May 15, 2009 pursuant to
section 15-973, Arizona Revised Statutes, but that was deferred pursuant to
legislation enacted into law during May 2009.
14. For each school
district in this state except accommodation schools as defined in section
15-101, Arizona Revised Statutes, subtract the amount determined in paragraph
12 of this subsection from the amount determined in paragraph 13 of this
subsection. If the computed amount is zero or a negative amount, use
zero. For accommodation schools, use the amount identified in
paragraph 13 of this subsection. The amount determined pursuant to
this paragraph is the amount of the apportionment to the school district or
accommodation school.
B. In addition to the
amount required by subsection A of this section, by the close of business on
October 15, 2009, the department of education shall apportion to each
qualifying school district from monies appropriated for basic state and
additional state aid for fiscal year 2009-2010 an amount determined as follows:
1. Identify the amount
determined in subsection A, paragraph 14 of this section.
2. Multiply the amount
determined in paragraph 1 of this subsection by two per cent for an assumed
interest rate of two per cent.
3. Multiply the amount
determined in paragraph 2 of this subsection by five-twelfths for an assumed
five month interest accumulation period. The amount determined pursuant to
this paragraph is the amount of the apportionment to the school district or
accommodation school.
C. Notwithstanding any
provision of law, for fiscal year 2009-2010, if the governing board of a school
district incurred interest expenses for registering warrants in fiscal year
2008-2009 or expects to incur interest expenses for registering warrants in
fiscal year 2009-2010 related to basic state aid and additional state aid that
was scheduled to be apportioned on May 15, 2009 pursuant to section 15-973,
Arizona Revised Statutes, but that was deferred pursuant to legislation enacted
into law during May 2009, the governing board may budget an estimated amount
for those interest expenses. Any such amount is specifically exempt from the
revenue control limit in fiscal year 2009-2010. If the budgeted estimate
amount is greater than the amount received pursuant to subsection B of this
section, the governing board shall not expend more than the amount received
pursuant to subsection B of this section. If the budgeted estimate
amount is less than the amount received pursuant to subsection B of this
section, the governing board may revise its budget during fiscal year 2009-2010
to include the actual amount received pursuant to subsection B of this section
and shall not expend more than the amount received pursuant to subsection B of
this section.
D. School districts shall
include in the revenue estimates that they use for computing their tax rates
for fiscal year 2009-2010 the monies that they will receive pursuant to
subsection A, paragraph 14 of this section.
E. The county treasurer
and county school superintendent in each county shall provide to the department
of education any information that is requested by the department of education
to carry out the requirements of this section."
Amend title to conform
