Under current law, the state distributes its share of a school district's total program funding in 12 approximately equal monthly payments during the budget year.
The act changes this distribution schedule so that unless a school district opts out, the state distributes its share of a school district's total program funds in a pattern over the course of the budget year that considers the projected timing of when the district will receive the property tax component of its local share of its total program funding and is as equal as possible each month when combined with the property tax component of its local share.
APPROVED by Governor April 4, 2024
EFFECTIVE April 4, 2024(Note: This summary applies to this bill as enacted.)

Statutes affected:
Final Act (03/27/2024): 22-54-115, 22-54-124