School Finance Adjustment To 2019-20 Total Program

The general assembly recognizes that the actual funded pupil count and the actual at-risk pupil count for the 2019-20 budget year are higher than anticipated when the appropriation amount was established during the 2019 legislative session, resulting in an increase in total program for the 2019-20 budget year. In addition, specific ownership tax revenue was less than anticipated, but local property tax revenue was more than anticipated, resulting in a net increase in the local share of total program funding. The increase in the local share of total program funding offsets a portion of the increase in total program. The act declares the general assembly's intent to maintain the budget stabilization factor at the dollar amount of the original appropriation. In addition, the total program amount set forth in statute was increased to reflect new provisions concerning funding for full-day kindergarten. The act increases appropriations for the state share of total program. (Note: This summary applies to this bill as enacted.)