(1) and (2) Repealed.
(2.5) and (2.6) Repealed.
(2.7) (a) For the 1997-98 budget year and budget years thereafter, notwithstanding the provisions of section 22-54-104 (2) and (6), a district's total program for the applicable budget year shall not exceed the district's total program for the prior budget year multiplied by 100% plus the district's maximum annual percentage change in the applicable fiscal year spending.
For purposes of this subsection (2.7), "maximum annual percentage change in theapplicable fiscal year spending" means the percentage change in fiscal year spending allowed by section 20 of article X of the state constitution based upon the definition of inflation found in said section 20 and based upon the definition of local growth as the percentage change between the district's funded pupil count during the immediately preceding October and the district's current year October funded pupil count.
Repealed.
(I) For the 1998-99 budget year and budget years thereafter, if a district's total program is calculated pursuant to paragraph (a) of this subsection (2.7) and the district is capable of receiving an increase in its total program within the limitations on its fiscal year spending for the applicable budget year under section 20 of article X of the state constitution, the district may certify to the department that it may receive an additional increase in its total program for the applicable budget year in an amount equal to the lesser of:
The difference between the district's total program for the applicable budget yearcalculated pursuant to paragraph (a) of this subsection (2.7) and the district's total program for the applicable budget year calculated pursuant to section 22-54-104 (2) or (6); or
The difference between the district's total program for the applicable budget yearcalculated pursuant to paragraph (a) of this subsection (2.7) and the district's allowable fiscal year spending for the applicable budget year under section 20 of article X of the state constitution.
(II) Each district eligible for an increase pursuant to this paragraph (d) shall certify to the department the exact dollar amount of increase that the district can accept. Such certification shall be submitted no later than December 1 of the applicable budget year and must be reviewed and approved by an auditor for the district.
(3) Notwithstanding the provisions of section 22-54-104 (2), for the 1994-95 budget year, if a district's 1994-95 total formula per pupil funding is less than the district's 1993-94 total per pupil funding, the total program for such district shall be calculated in accordance with the following formula:
If the district's 1994-95 funded pupil count is equal to or less than the district's 199394 funded pupil count, the formula shall be:
District 1993-94 funded pupil count x District 1993-94 total per pupil funding.
If the district's 1994-95 funded pupil count is greater than the district's 1993-94 funded pupil count, the formula shall be:
District 1993-94 total funding + ((District 1994-95 funded pupil count - District 1993-94 funded pupil count) x District 1994-95 total formula per pupil funding).
(4) (Deleted by amendment, L. 95, p. 613, § 15, effective May 22, 1995.) (5) For purposes of subsection (3) of this section and section 22-54-104 (6): (a) to (d) Repealed.
A district's "prior year total per pupil funding" means the amount which results fromdividing the district's prior year total program by the district's prior year funded pupil count.
A district's "total formula per pupil funding" means the total program for a district forthe applicable budget year, as calculated pursuant to section 22-54-104 (2), divided by the district's funded pupil count for the applicable budget year.
(Deleted by amendment, L. 95, p. 613, § 15, effective May 22, 1995.) (6) Repealed.
Source: L. 94: Entire article added with relocations, p. 786, § 2, effective April 27; IP(1) amended, p. 1282, § 4, effective May 22. L. 95: (4), IP(5), and (5)(g) amended and (2.5), (2.7), and (6) added, p. 613, § 15, effective May 22. L. 96: (2.6) added and (2.7)(a) amended, p. 1791, § 4, effective June 4. L. 97: (2.7) amended, p. 592, § 29, effective April 30. L. 98: (2.7)(d) added, p. 964, § 5, effective May 27. L. 2006: (1), (2), (2.5), (2.6), (2.7)(c), (5)(a) to (5)(d), and (6) repealed, p. 620, § 45, effective August 7.