§ 53A-21-201. Capital Outlay Foundation Program -- Creation -- Definitions.

Latest version.

(1)	There is created the Capital Outlay Foundation Program to provide capital outlay funding to a school district based on a district's local property tax effort and property tax yield per student compared to a foundation guarantee funding level.

(2)

As used in this part:

(a)

"Foundation guarantee level per ADM" means a minimum revenue amount per ADM generated by the base tax effort rate, including the following:

(i)	the revenue generated locally from a school district's combined capital levy rate; and

(ii)	the revenue allocated to a school district by the State Board of Education in accordance with Section 53A-21-202.

(b)	"Qualifying school district" means a school district with a property tax yield per ADM less than the foundation guarantee level per ADM.

(3)	"Small school district" means a school district that has fewer than 1,000 pupils in average daily membership.

Amended by Chapter 185, 2010 General Session

                    
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