| 15 | | - | grants, annual calculations, and allocation, is amended by revising paragraph (9) of11 |
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| 16 | | - | subsection (a) and adding two new subsections to read as follows:12 |
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| 17 | | - | "(9) 'Qualified local school system' is defined as any local school system:13 |
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| 18 | | - | (A) Having an assessed valuation per weighted full-time equivalent count for the year14 |
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| 19 | | - | of the digest which is below the guaranteed valuation;15 |
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| 20 | | - | H. B. 12 (SUB) |
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| 21 | | - | - 1 - 25 LC 49 9002S |
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| 22 | | - | (B) Having an effective millage rate greater than the millage rate applied to calculate16 |
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| 23 | | - | the local five mill share pursuant to subsection (a) of Code Section 20-2-164; and17 |
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| 24 | | - | (C) Beginning July 1, 2015, having a millage rate or an equivalent millage of at least18 |
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| 25 | | - | 12 mills; beginning July 1, 2016, having a millage rate or an equivalent millage of at19 |
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| 26 | | - | least 12 1/2 mills; beginning July 1, 2017, having a millage rate or an equivalent20 |
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| 27 | | - | millage of at least 13 mills; beginning July 1, 2018, having a millage rate or an21 |
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| 28 | | - | equivalent millage of at least 13 1/2 mills; beginning July 1, 2019, and thereafter,22 |
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| 29 | | - | having a millage rate or an equivalent millage of at least 14 mills July 1, 2025, and23 |
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| 30 | | - | thereafter, having a millage rate or an equivalent millage rate of at least 10 mills."24 |
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| 31 | | - | "(d.1) If, after a local school system's equalization grant has been calculated for the25 |
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| 32 | | - | ensuing fiscal year as provided for in subsection (b) of this Code section, such local school26 |
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| 33 | | - | system decreases the actual or equivalent millage rate levied against its digest for27 |
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| 34 | | - | maintenance and operation to an amount below the minimum amount required in28 |
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| 35 | | - | subparagraph (a)(9)(C) of this Code section, a midterm adjustment in such local school29 |
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| 36 | | - | system's equalization grant shall be made such that the total equalization grant amount30 |
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| 37 | | - | awarded to such local school system is reduced to an amount equal to 75 percent of the31 |
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| 38 | | - | initial equalization grant amount."32 |
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| 39 | | - | "(f) Each year, the Department of Education shall prepare a report of each local school33 |
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| 40 | | - | system that received an equalization grant the previous fiscal year. Such report shall34 |
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| 41 | | - | include for each local school system the initial equalization grant amount, the midterm35 |
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| 42 | | - | adjustment to the equalization grant, and the total amount of equalization grants received36 |
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| 43 | | - | in the previous ten years. Such report shall also identify each local school system that37 |
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| 44 | | - | received an equalization grant during the previous fiscal year while having a millage rate38 |
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| 45 | | - | or an equivalent millage rate of less than 10 mills for the period of time upon which the39 |
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| 46 | | - | calculation of such equalization grant was based. Each year, no later than September 1, the40 |
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| 47 | | - | Department of Education shall provide such report to the chairpersons of the House41 |
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| 48 | | - | Committee on Appropriations, the Senate Appropriations Committee, the House42 |
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| 49 | | - | H. B. 12 (SUB) |
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| 50 | | - | - 2 - 25 LC 49 9002S |
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| 51 | | - | Committee on Education, the Senate Education and Youth Committee, the director of the43 |
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| 52 | | - | Office of Planning and Budget, the director of the Senate Budget and Evaluation Office,44 |
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| 53 | | - | and the director of the House Budget and Research Office."45 |
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| 54 | | - | SECTION 2.46 |
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| 55 | | - | All laws and parts of laws in conflict with this Act are repealed.47 |
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| 56 | | - | H. B. 12 (SUB) |
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| 28 | + | grants, annual calculations, and allocation, is amended by repealing paragraph (5.1) of11 |
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| 29 | + | subsection (a), revising paragraph (9) of subsection (a), and adding two new subsections to12 |
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| 30 | + | read as follows:13 |
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| 31 | + | "(9) 'Qualified local school system' is defined as any local school system:14 |
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| 32 | + | (A) Having an assessed valuation per weighted full-time equivalent count for the year15 |
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| 33 | + | of the digest which is below the guaranteed valuation;16 |
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| 34 | + | H. B. 12 |
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| 35 | + | - 1 - 25 LC 49 2019 |
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| 36 | + | (B) Having an effective millage rate greater than the millage rate applied to calculate |
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| 37 | + | 17 |
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| 38 | + | the local five mill share pursuant to subsection (a) of Code Section 20-2-164; and18 |
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| 39 | + | (C) Beginning July 1, 2015, having a millage rate or an equivalent millage of at least |
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| 40 | + | 19 |
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| 41 | + | 12 mills; beginning July 1, 2016, having a millage rate or an equivalent millage of at20 |
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| 42 | + | least 12 1/2 mills; beginning July 1, 2017, having a millage rate or an equivalent21 |
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| 43 | + | millage of at least 13 mills; beginning July 1, 2018, having a millage rate or an22 |
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| 44 | + | equivalent millage of at least 13 1/2 mills; beginning July 1, 2019, and thereafter,23 |
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| 45 | + | having a millage rate or an equivalent millage of at least 14 mills July 1, 2025, and24 |
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| 46 | + | thereafter, having a millage rate or an effective millage rate of at least 10 mills."25 |
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| 47 | + | "(d.1) If, after a local school system's equalization grant has been calculated for the26 |
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| 48 | + | ensuing fiscal year as provided for in subsection (b) of this Code section, such local school27 |
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| 49 | + | system decreases the actual or effective millage rate levied against its digest for28 |
|---|
| 50 | + | maintenance and operation to an amount below the minimum amount required in29 |
|---|
| 51 | + | subparagraph (a)(9)(C) of this Code section, a midterm adjustment in such local school30 |
|---|
| 52 | + | system's equalization grant shall be made such that the total equalization grant amount31 |
|---|
| 53 | + | awarded to such local school system is reduced to an amount equal to 75 percent of the32 |
|---|
| 54 | + | initial equalization grant amount."33 |
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| 55 | + | "(f) Each year, the Department of Education shall prepare a report of each local school34 |
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| 56 | + | system that received an equalization grant the previous fiscal year. Such report shall35 |
|---|
| 57 | + | include for each local school system the initial equalization grant amount, the midterm36 |
|---|
| 58 | + | adjustment to the equalization grant, and the total amount of equalization grants received37 |
|---|
| 59 | + | in the previous ten years. Such report shall also identify each local school system that38 |
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| 60 | + | received an equalization grant during the previous fiscal year while having a millage rate39 |
|---|
| 61 | + | or an effective millage rate of less than 10 mills for the period of time upon which the40 |
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| 62 | + | calculation of such equalization grant was based. Each year, no later than September 1, the41 |
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| 63 | + | Department of Education shall provide such report to the chairpersons of the House42 |
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| 64 | + | Committee on Appropriations, the Senate Appropriations Committee, the House43 |
|---|
| 65 | + | H. B. 12 |
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| 66 | + | - 2 - 25 LC 49 2019 |
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| 67 | + | Committee on Education, the Senate Education and Youth Committee, the director of the44 |
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| 68 | + | Office of Planning and Budget, the director of the Senate Budget and Evaluation Office,45 |
|---|
| 69 | + | and the director of the House Budget and Research Office."46 |
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| 70 | + | SECTION 2.47 |
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| 71 | + | All laws and parts of laws in conflict with this Act are repealed.48 |
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| 72 | + | H. B. 12 |
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