6058-S AMH FIN H3108.1

SSB 6058 - H COMM AMD

By Committee on Finance

Strike everything after the enacting clause and insert the following:

"Sec. 1. RCW 84.52.068 and 2001 c 3 s 5 are each amended to read as follows:

(1) A portion of the proceeds of the state property tax levy shall be distributed to school districts in the amounts and in the manner provided in this section.

(2) The amount of the distribution to each school district shall be based upon the average number of full-time equivalent students in the school district during the previous school year, and shall be calculated as follows:

(((a))) Out of taxes collected in calendar years 2001 through and including 2003, an annual amount equal to one hundred forty dollars per each full-time equivalent student in all school districts shall be deposited in the student achievement fund to be distributed to each school district based on one hundred forty dollars per full-time equivalent student in the school district for each year beginning with the school year 2001-2002 and through the end of the 2003-04 school year.

(((b) Out of taxes collected in calendar year 2004, an annual amount equal to four hundred fifty dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund to be distributed to each school district based on four hundred fifty dollars per full-time equivalent student for each year beginning with the school year 2004-2005. Each subsequent year, the amount deposited shall be adjusted for inflation as defined in RCW 43.135.025(7).))

(3) Beginning with school year 2004-05, the amount deposited in the student achievement fund for distribution to school districts on a per full-time-equivalent student basis shall be determined as set forth in section 2 of this act.

(4) The office of the superintendent of public instruction shall verify the average number of full-time equivalent students in each school district from the previous school year, as reported to the office of the superintendent of public instruction through August 31st of the previous school year, to the state treasurer by ((August)) September 1st of each year through 2003.

NEW SECTION. Sec. 2. A new section is added to chapter 28A.505 RCW to read as follows:

Distributions to school districts from the student achievement fund created in RCW 43.135.045 shall be based on the average number of full- time equivalent students in the school district during the previous school year for the purposes set forth in RCW 28A.505.210 as follows:

(1) For the 2003-04 school year, moneys in the student achievement fund shall be distributed on the basis of an equal amount per full-time equivalent student as provided in RCW 84.52.068 and 43.135.045(5);

(2) For the 2004-05 school year, moneys in the student achievement fund shall be distributed on the basis of an equal amount per full-time equivalent student as provided in the omnibus operating appropriations act;

(3) For the 2005-06 school year, the legislature shall appropriate an annual amount equal to three hundred fifty dollars per full-time equivalent student to the superintendent of public instruction for distribution to each school district based on three hundred fifty dollars per full-time equivalent student;

(4) For the 2006-07 school year, the legislature shall appropriate an annual amount equal to four hundred dollars per full-time equivalent student to the superintendent of public instruction for distribution to each school district based on four hundred dollars per full-time equivalent student;

(5) For the 2007-08 school year, the legislature shall appropriate an annual amount equal to four hundred fifty dollars per full-time equivalent student to the superintendent of public instruction for distribution to each school district based on four hundred fifty dollars per full-time equivalent student;

(6) Each subsequent year following the 2007-08 school year, the per student distributions shall be adjusted for inflation as defined in RCW 43.135.025(8);

(7) The distributions shall be based on the average number of full- time equivalent students in each school district during the previous school year as reported to the office of the superintendent of public instruction by August 31st of the previous school year; and

(8) Beginning with the 2005-06 school year, if revenues into the student achievement fund from sources other than state property tax revenues are not sufficient to fund the distributions under this section, the state treasurer shall deposit into the student achievement fund for distribution to school districts state property tax revenues sufficient to fully fund the per student distributions under this section no later than August 15th of each year. The amount transferred under this subsection shall be the amount necessary to fully fund the per student distributions for the current school year."

Correct the title.

EFFECT: Revises the per student distributions from the Student Achievement Fund as follows: The school year 2004-05 per student amount is to be determined in the operating budget; the 2005-06 amount is $350 per student; the 2006-07 amount is $400 per student; the 2007- 08 amount is $450 per student; thereafter, the per student amount increases by inflation. Beginning in fiscal year 2006, if revenues, other than property tax revenues, into the fund are not sufficient to fund the per student amounts, the state Treasurer is directed to transfer into the fund sufficient moneys from state property tax revenues to fully fund the per student amounts.

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