Section 13-13-69 - Calculating amount of school aid transition funds for eligible districts.
13-13-69. Calculating amount of school aid transition funds for eligible districts. The Department of Education shall distribute the proceeds in the school aid transition fund to each eligible school district according to the following calculations:
(1) A base amount equal to the district's fiscal year 1995 allocation under the foundation program multiplied by 1.031 and known as transition formula aid; and
(2) The sum of:
(a) The amount paid to the district in fiscal year 1995 for personal property tax replacement in accordance with §§ 13-13-57 and 13-13-58;
(b) The amount paid to the district in fiscal year 1995 for education salaries and benefits in accordance with §§ 13-13-52, 13-13-53, 13-13-53.1, and 13-13-54;
(c) The amount paid to the district in fiscal year 1995 for teacher inservice in accordance with § 13-26-2.3;
(d) The amount paid to the district in fiscal year 1995 for gifted education in accordance with § 13-33-15; and
(e) The amount paid to the district in fiscal year 1995 under the provisions of §§ 13-39-19, 13-39-53, 13-39-56, and 13-39-57 for secondary vocational education.
The sum of subsections (2)(a) to (2)(e), inclusive, in this section shall be known as transition categorical aid.
Source: SL 1995, ch 94, § 33; SL 2003, ch 272, § 63.