(1) (a) For school district budget years 2001-02 through 2010-11, the general assembly shall annually increase the statewide base per pupil funding for public education from preschool through the twelfth grade by at least the rate of inflation for the calendar year ending in the immediately preceding school district budget year plus one percentage point.
(b) For the school district budget year 2011-12 and each school district budget year thereafter, the general assembly shall annually increase the statewide base per pupil funding for public education from preschool through the twelfth grade by at least the rate of inflation for the calendar year ending in the immediately preceding school district budget year.
(2) The general assembly may annually appropriate moneys in the state education fund, the general fund, any other state fund, or some combination thereof, as necessary in the sole discretion of the general assembly, to satisfy the requirements of subsection (1) of this section, and such moneys shall be distributed to public school districts and the state charter school institute in accordance with the provisions of the "Public School Finance Act of 1994", article 54 of this title.
Source: L. 2001: Entire article added, p. 576, § 1, effective May 30; entire article added,
p. 678, § 1, effective May 30. L. 2004: (2) amended, p. 1646, § 53, effective July 1.
Editor's note: This section was enacted as section 22-55-103 in Senate Bill 01-082 and as section 22-55-105 in Senate Bill 01-204 but has been renumbered for ease of location and harmonized with House Bill 01-1262.